According to the Prime Minister, the innovative startup ecosystem is the foundation for ensuring technological autonomy. Nationwide innovation is the key to unlocking the country’s development potential.
TECHFEST 2025, held from December 12-14 at the Hoan Kiem Lake pedestrian zone, is organized by the Ministry of Science and Technology in collaboration with the Hanoi People’s Committee. This year’s event is the largest to date, with over 60,000 attendees expected both in-person and online. It features leading tech corporations, investment funds, and domestic and international startup support organizations.
A standout feature of TECHFEST is its “open space” model, fostering direct interaction among citizens, startups, investors, and academic institutions on technology, market trends, policies, and investment opportunities. During the event, 10 localities were honored for their outstanding contributions to the 2025 innovative startup ecosystem.
In his opening remarks, the Prime Minister emphasized that innovation is no longer a mere slogan but a driving force for global competitiveness. He highlighted citizens and businesses as the core of innovation, with educational institutions and scientific communities playing pivotal roles, while the government acts as a developmental architect.
The Prime Minister noted that Vietnam’s history demonstrates creativity as a key to overcoming challenges. From agriculture to industry and services, innovation has significantly boosted productivity and income levels.
 Prime Minister visiting innovative startup booths – Photo: VGP/Nhat Bac
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In 2025, Vietnam’s per capita income is projected to reach approximately $5,000, with GDP growth exceeding 8%, placing it among the region’s and world’s fastest-growing economies. The Prime Minister emphasized that science, technology, innovation, digital transformation, and green transition are essential for Vietnam’s journey to becoming a high-income developed nation.
These achievements, he stated, result from strategic consistency and flexible policy implementation. Vietnam has revitalized traditional growth drivers while exploring new areas such as the digital economy, green economy, and circular economy.
Highlighting TECHFEST 2025, the Prime Minister praised its “5 openness” model and the “Phu Dong symbol.” The event expands its scope in organization, interaction, technology experience, participation, and discussion themes, symbolizing Vietnam’s tech community’s ambition for rapid, robust, and sustainable growth.
However, the Prime Minister acknowledged that Vietnam’s startup ecosystem still lags behind regional and global standards. Critical challenges remain, including enhancing domestic-FDI business connections, improving research commercialization, and positioning Vietnam within the global semiconductor and AI value chains.
He stressed the need for Vietnam to focus on strategic priorities, from core technology development to ecosystem expansion, and rapidly establish large datasets for AI and the digital economy. Innovation, he added, is about enhancing existing capabilities and creating higher, more sustainable societal value.
Looking ahead, the Prime Minister outlined Vietnam’s shift from application and outsourcing to research and technology mastery, and from individual efforts to a comprehensive innovation ecosystem. The government will transition from a managerial to an enabling role, refining institutions, supporting controlled experimentation, and creating a legal framework for new models.
The ultimate goal, he stated, is to enhance national productivity, quality, and competitiveness, establishing Vietnam as a leading startup and innovation hub.
“Developing domestic technological capabilities is imperative,” the Prime Minister affirmed, adding that as innovation permeates individuals and businesses, Vietnam will achieve rapid and sustainable progress.
– 4:00 PM, December 14, 2025
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