The fourth Vietnam Innovation Summit (VIS 2025) under the theme “Building Bridges To Innovation and Growth," cohosted by InnoLab Asia, the Ho Chi Minh City Department of Science and Technology, and the Doanh Nhan Sai Gon magazine, took place in Ho Chi Minh City on November 6-7.
The highlight of this year’s edition was the 1:1 Business Matching program, which facilitated connections between companies in fields such as AI, blockchain, fintech, ESG (environmental, social, and governance), green energy, smart logistics, edtech, healthtech, and agritech, enabling them to network and expand international partnerships.
Addressing the gathering, Mr. Lam Dinh Thang, Director of the Ho Chi Minh City Department of Science and Technology, emphasized that the Summit is not only significant for Ho Chi Minh City but also a key milestone for Vietnam’s startup and innovation ecosystem as the country enters the era of the knowledge economy and comprehensive digital transformation.
He noted the city’s pioneering role in developing a comprehensive innovation ecosystem, aiming to become an international hub for innovation and startups by 2030. Under its 2026-2030 Development Strategy, with a Vision towards 2045, the city identifies science and technology, innovation, and digital transformation as its three development pillars, alongside the digital, green, and circular economies. It has been shifting from extensive growth to a model driven by knowledge and innovation.
Mr. Thang revealed that the Central Steering Committee for the Development of Science, Technology, Innovation and Digital Transformation has tasked Ho Chi Minh City with becoming “an international innovation and startup hub by 2030”. The city is now finalizing a proposal, for submission to the central government in November. The proposal includes four innovation hub models: a national innovation center, a high-tech park, the 123 Truong Dinh Innovation Tower (SIHUB, at #123 Truong Dinh road), and a public-private partnership (PPP) model.
He added that the theme of the Summit reflects Vietnam's and Ho Chi Minh City’s strong commitment to building bridges of knowledge - linking research with business, and connecting Vietnam with the world - to advance sustainable growth and shared prosperity.
Breaking barriers to digital transformation
Speaking with VnEconomy / Vietnam Economic Times, Mr. Huynh Cong Thang, Chairman of InnoLab, emphasized that the Summit reflects Vietnam’s growing role as a regional innovation nexus, connecting technology, talent, and ideas across Southeast Asia and beyond. VIS 2025 is designed to unite four key stakeholders - enterprises, government, investors, and research institutions - to transform ideas into action and action into long-term impact.
“With over 3,800 tech startups, 20 regional innovation centers, and global tech companies like Samsung, Qualcomm, Intel, and Bosch establishing R&D facilities here, Vietnam has a foundation to become an ‘innovation gateway’,” he said.
Despite hosting more than 900,000 businesses, Vietnam remains in the early stages of its digital transformation. According to InnoLab Asia’s 2024 survey of over 300 small and medium-sized enterprises (SMEs), 68 per cent cited internal culture - the willingness to adapt and embrace change - as the primary obstacle, rather than technology or finance.
“Many leaders still see digital transformation as an IT project, rather than a comprehensive shift in operations and management mindset,” Mr. Thang explained. “VIS 2025 focused on changing mindsets first, connecting companies with startups, investors, and experts to learn from success stories, experiment rapidly, and build internal capacity for sustainable transformation.”
Data and digital platforms, he noted, are the “new highways” of the economy. Tech startups are leading the creation of AI-driven and data-centric platforms across logistics, fintech, edtech, and healthcare. Through InnoLab Asia and its Lead The Change program, over 200 ASEAN startups have been connected, with 30 per cent focused on data-driven solutions.
Supported by regional innovation centers such as the National Innovation Center (NIC) and SIHUB, as well as innovation hubs promoted by VIS, Vietnam could emerge as Southeast Asia’s data hub within the next five years.
Looking to the 2025-2030 period, Mr. Thang highlighted AI, blockchain, the Internet of Things (IoT), and greentech as key drivers for Vietnam’s digital economy. VIS 2025 is expected to establish three cooperative mechanisms:
First, a co-create sandbox - joint policy experiments between enterprises, startups, and regulators in emerging fields.
Second, a cross-border innovation program - connecting Vietnamese businesses with international partners for technology exchange and regional expansion, while facilitating foreign enterprises’ entry into Vietnam.
Third, a greentech and digital transformation coalition - a public-private alliance promoting green technology, renewable energy, and ESG finance.
“If implemented effectively, these initiatives could attract $10-15 billion in high-tech FDI over five years, solidifying Vietnam as ASEAN’s strategic innovation hub,” Mr. Thang said.
Youth powering innovation
Vietnam’s young talent is central to this transformation. With over 500,000 IT engineers, 60 per cent of whom are under the age of 30, the country has a generation of “digital natives” ready to innovate.
Notably, Mr. Thang said InnoLab’s Lead The Change program has sent over 300 young Vietnamese to Singapore, South Korea, and Australia for international exposure; with 80 per cent now employed in technology or running their own startups.
“This generation represents Vietnam’s future talent and innovation capacity,” he emphasized. “They will drive the country towards a knowledge-based, innovation-led economy.”
Sharing his perspective on Vietnam, Mr. Peter Mok, General Manager of the Shenzhen Qianhai - Youth Innovation and Entrepreneur Hub (Ehub), noted that Vietnam’s rapidly-growing startup ecosystem, driven by a young and dynamic population, gives it a strong advantage for future innovation.
However, for sustainable development, Vietnam needs to invest more heavily in higher education and high-quality human resources training, especially in technology and engineering fields. “A green and innovative economy can only thrive with strong universities, talented students, and an open academic environment,” he said.
Drawing from the experience of China’s Guangdong-Hong Kong-Macao Greater Bay Area (GBA), Mr. Mok highlighted that Vietnam, and particularly Ho Chi Minh City, must clearly define its strategic position in Southeast Asia, amid strong competition from Singapore, Malaysia, and Thailand, who are actively competing in innovation. Mr. Mok offered three key recommendations.
First is enhancing R&D capabilities. Vietnam should leverage international connections to attract leading research groups from Hong Kong (China), Singapore, the US, and Europe to test and apply technology locally. At the same time, it should strengthen domestic R&D in areas of advantage such as semiconductors, AI, and smart electronics.
Second is attracting multinational corporations. Early investment by global corporations in Vietnam will establish strategic partnerships that help guide research, commercialization, and market expansion for Vietnamese startups.
Third is developing a venture capital ecosystem. Vietnam needs to create early-stage investment funds and encourage private sector participation in high-risk, high-potential tech ventures - moving beyond secondary financial markets like those in Hong Kong (China) and Tokyo.
Google translate