The City’s Triumvirate: A Tale of Three Vietnamese Powerhouses

Ho Chi Minh City, Hanoi, and Da Nang Rank Among the Top 1,000 Startup Cities

In a recent development, StartupBlink released its 2025 Global Startup Ecosystem Report. StartupBlink is a leading global organization in mapping and analyzing startup ecosystems.

According to the report, Vietnam ranked 55th in the 2025 Global Startup Ecosystem Index, climbing one position from the previous year, marking its third consecutive year of improvement. Within Southeast Asia, Vietnam maintained its 5th position and boasted the highest annual growth rate of over 17%.

Notably, three of Vietnam’s major cities—Ho Chi Minh City, Hanoi, and Da Nang—made it to the list of the top 1,000 startup cities worldwide.

Ho Chi Minh City, for the first time, entered the top 5 startup ecosystems in Southeast Asia, ranking 110th globally, the highest position to date. The report highlights the city’s strengths in the Blockchain field, placing it in the global top 30 and 2nd in the region.

Hanoi climbed nine spots to 148th globally, narrowing the gap with Ho Chi Minh City. Additionally, Vietnam’s capital city excelled in Logistics, ranking 6th in Southeast Asia and 61st globally.

Da Nang, on the other hand, impressed with a massive jump of 130 positions, reaching 766th globally, becoming the fastest-growing city in the country with a growth rate of nearly 58%.

The Immense Potential of Vietnam’s Startup Ecosystem

The report indicates that Vietnam’s startup ecosystem holds immense potential, largely due to its domestic market size. This allows local startups to remain profitable even without expanding internationally.

However, to become a true regional and global startup hub, Vietnam needs to focus on technological advancements and integrate them into traditional production processes. The country should aim to become a service provider to the international market, not just an exporter of goods.

The report also highlights the positive role of government agencies, particularly the Departments of Science and Technology in the three major centers. Notably, the Danang Incubator has emerged as a leading supporter of local startups.

Furthermore, strategic funding sources like the National Technology Innovation Fund (Ministry of Science and Technology) are vital in driving financial and technological support for Vietnamese startups. International organizations such as Swiss EP, CARE, and others actively contribute through initiatives and collaborations, fostering the comprehensive development of Vietnam’s startup ecosystem.

The Vietnamese private sector is essential in expanding production, trade, and services, enhancing labor productivity and national competitiveness.

However, the report also points out that despite the strong growth of Vietnam’s startup ecosystem, challenges remain, including a shortage of highly skilled workers, a lack of large-scale startups, and slow regulatory reforms. Therefore, the government should invest more in training and education to build a skilled workforce.

Additionally, Vietnam should continue regulatory reforms to create a business-friendly environment for investors and continue attracting technology enterprises. The more open and unrestricted the internet is, the easier it will be for the national startup ecosystem to flourish.