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| The headquarters of the Da Nang Hi-Tech Park and Industrial Zones Authority__Photo: VNA |
Vietnam needs groundbreaking mechanisms and policies to develop large-scale technology enterprises capable of mastering core technologies and shaping markets if the country wants to achieve double-digit economic growth driven by science-technology, innovation and digital transformation, experts have said.
In recent years, Vietnamese technology enterprises have steadily expanded in scale and increased their contributions to the nation's economic growth.
The country is now home to around 80,000 technology firms, 1.4 times higher than the figure in 2020. Total revenue of the sector in 2025 was estimated at USD 198 billion, up nearly 26 per cent from 2024.
Vietnamese digital products and services have also made inroads into demanding markets such as the US, Europe and Japan, generating annual export revenue of roughly USD 15 billion and demonstrating the growing global competitiveness of Vietnamese technology.
Digital technology enterprises have become a key driving force behind new growth engines. Fifth-generation (5G) mobile coverage has reached 90 per cent of the population, while e-commerce revenue was estimated to hit USD 36 billion in 2025, triple the figure recorded in 2020.
Digital payments have also expanded rapidly, with total value of cashless transactions in 2025 estimated at 26 times higher than the country’s gross domestic product (GDP), supported by more than 20 billion transactions.
At the same time, technology enterprises have accelerated digital transformation across sectors including energy, transport, environment, healthcare and education.
Despite the progress, experts noted that the technological capacity and competitiveness of Vietnamese enterprises remain uneven and relatively limited. Vietnam still lacks major technology corporations with sufficient financial strength, technological capability and international influence to lead supply chains and global market expansion.
A major challenge is the shortage of high-quality digital human resources, particularly in emerging fields such as semiconductors, artificial intelligence (AI) and chip design.
Analysts attributed these shortcomings to outdated management mindset that has failed to keep pace with technological advances, along with concerns over accountability that have discouraged pilot models and experimental mechanisms.
Support policies for technology firms are also considered insufficiently practical, while administrative procedures remain cumbersome and often fail to reflect the unique characteristics of technology enterprises.
In addition, many firms have still faced constraints in financial resources, governance capacity and long-term strategic vision. A lack of trust and connectivity among businesses has also hindered the formation of alliances and ecosystems which are strong enough to compete internationally.
According to experts, Vietnam must establish groundbreaking policies to nurture leading technology enterprises that can serve as “locomotives” for the broader ecosystem.
These firms would help small- and medium-sized enterprises (SMEs) gradually dominate the domestic market before expanding globally and integrating more deeply into international supply chains.
Experts also stressed that the State should act as a “major customer” by introducing procurement policies and public orders for Vietnamese digital products and services. They proposed encouraging government agencies to shift from direct public investment to the outsourcing of comprehensive digital services, helping technology enterprises secure more stable financial resources.
At the same time, Vietnam needs stronger policies to train, attract and retain high-quality technology workers.
Experts said training models should shift from “teaching what schools have” to “training what the market needs,” while expanding work-integrated learning programmes to ensure graduates possess practical skills.
They added that policy support alone would not be enough. Vietnam’s ambitions to become a new technology hub in the region and the world would also require pioneering spirit, bold mindset and a willingness among technology enterprises to take risks and pursue breakthroughs.- (VNA/VLLF)
