In a recent post on his personal TikTok account, Mr. Hoang Nam Tien, Vice Chairman of FPT University’s Board of Trustees, shared notable insights about Vietnam’s startup ecosystem and the expectations from Resolution 68.
Regarding Vietnam’s startup ecosystem, Mr. Tien pointed out that a staggering 93% of startups fail within the first two years. However, he emphasized that this is not unique to Vietnam and is a global phenomenon.
At the same time, Mr. Hoang Nam Tien expressed high hopes for Resolution 68, a new policy by the Political Bureau with specific and strong directives for the government to promote entrepreneurship and innovation.
According to him, if vigorously implemented, this resolution could be a turning point in significantly reducing the failure rate of Vietnamese startups in the coming years.
One of the most important points Mr. Tien highlighted is that Resolution 68 mandates the government to reduce at least 30% of administrative procedures and costs for businesses, especially during their initial establishment phase.
This has been a significant hurdle, causing many startups to falter before they get a chance to grow. In addition, the resolution proposes a three-year tax exemption for startups and allows for the inclusion of education, research, and development expenses in tax deductions. If these changes are materialized through transparent policies and procedures, they will provide a much-needed boost for young enterprises.
Beyond procedural reforms, Resolution 68 also demonstrates a long-term vision by requiring the government to train at least 10,000 business leaders in digital transformation, artificial intelligence, and data application in business. Mr. Tien believes this is a necessary step to enhance businesses’ competitiveness and adaptability to technological and market changes.
The Vice Chairman of FPT University’s Board of Trustees affirmed that if concrete actions are taken seriously, the 93% failure rate of startups may no longer be the default for Vietnamese entrepreneurship.
“I am confident that with such strong measures, Vietnam’s startup ecosystem will flourish, and we will see more successful enterprises in the future,” he shared.
Resolution 68-NQ/TW, issued on May 4, 2025, by the Political Bureau, sets a target of having 2 million enterprises by 2030, including at least 20 large enterprises participating in the global value chain. The vision for 2045 aims for at least 3 million enterprises contributing over 60% of GDP. Notably, one of Resolution 68’s critical breakthrough contents is the strong support for small and medium-sized enterprises and startups.
Ky Thu
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