Building startup nation

To transform Vietnam into a startup nation, the Party and State have been implementing a series of breakthrough strategic policies to unlock resources and promote innovative entrepreneurship. The Prime Minister has directed the development of a National Innovative Startup Scheme.

The scheme’s tasks and solutions focus on reviewing and supplementing key areas such as raising public awareness about entrepreneurship and innovation; affirming that startups have no boundaries or age limits; mobilizing nationwide participation in the innovation movement; and studying and improving legal frameworks and policies. In particular, the plan aims to foster startups from the early stage - supporting idea incubation, trial production, investment testing, and product commercialization.

This time, the State is taking the initiative to act as an “institutional midwife” through practical measures. Alongside institutional reforms, liberal education, venture capital, and modern technological infrastructure will be advanced to fully support the formation, growth, and global reach of new businesses.

Startups cannot become a pillar of development if they remain merely a movement or the success stories of a few individuals. For entrepreneurship to truly become a national strength, the Party and State are implementing concrete actions to bring about profound and systematic change, starting with institutions and education, the two fundamental pillars.

Duy Duc