New agenda will attract tech investors

Investors stand to benefit from the Vietnamese government’s prioritisation of strategic technologies, including AI, semiconductor technology, cloud computing, 5G/6G, blockchain, quantum technologies, robotics, and advanced materials.

The resolution affirms Vietnam’s commitment to establishing sector-specific preferential policies, including tax incentives, credit support, and public procurement preferences, particularly for enterprises that engage in research, development, and high-tech manufacturing. Strategic digital infrastructure projects (such as national data centres, satellite communication, and smart cities) offer substantial public-private partnership (PPP) opportunities.

The resolution mandates legal reforms in key laws governing investment, public procurement, taxation, and intellectual property.

Vietnam will institutionalise a pilot regime allowing technology experimentation, provide safe harbour protections for trial-phase technology failures, and expand legal grounds for venture capital and technology transfer. These reforms reduce regulatory friction, encourage risk-taking, and assure investors of a more supportive legal environment.

Vietnam commits to training a digital-ready workforce and offering special mechanisms to draw in foreign experts and overseas Vietnamese talents. Investors will benefit from a rapidly expanding base of technical professionals and are encouraged to participate in talent development initiatives, including co-establishing training centres and digital universities under PPP.

With a target of digital economy contributing at least 30 per cent of GDP by 2030 and 50 per cent by 2045, Vietnam signals vast demand for digital products, platforms, and services. Sectors such as healthcare, finance, logistics, education, and public administration are slated for comprehensive digital transformation, all of which create sustained demand for tech solutions and applications from both foreign and local vendors.

Vietnam’s ambitions echo the trajectories of several successful digital economies. There are key international models from which Vietnam can draw inspiration:

Singapore’s success is built on strong legal infrastructure and institutionally coordinated innovation. The establishment of bodies like the Infocomm Media Development Authority and an aggressive “Smart Nation” agenda exemplify how institutional clarity, unified digital strategies, and trust in public data use can accelerate transformation.

Vietnam, with its plan to establish a central steering committee, is similarly positioning digital development as a national strategic imperative. However, Vietnam must ensure effective horizontal coordination across ministries and localities to avoid fragmentation.

South Korea’s early investment in semiconductors, broadband infrastructure, and conglomerate-led innovation ecosystems propelled it into a technology powerhouse. Through targeted subsidies, technology parks, and close state-enterprise alignment, it successfully incubated global giants like Samsung and SK Hynix.

Vietnam’s plan to develop national-level tech zones and support the emergence of 10 world-class digital tech enterprises is aligned with this model, but to emulate it effectively, Vietnam must focus on scaling local enterprises through export incentives and global value chain integration.

Israel showcases how government-backed venture capital, intellectual property (IP) commercialisation frameworks, and strong university-industry linkages create a thriving innovation landscape. Resolution 57 similarly promotes venture capital funds, commercialisation of research, and IP incentives.

To succeed, Vietnam must create enforceable IP regimes, allow more flexible use of public research funds, and establish strong exit mechanisms for tech startups.

While Resolution 57 is ambitious and forward-looking, effective implementation and investor confidence require several critical enablers.

Vietnam should ensure that the upcoming legal reforms are not only comprehensive but also coherent and enforceable. Foreign investors often cite ambiguity in policy execution and inconsistencies between central and local authorities as major hurdles. Mechanisms should be put in place to ensure legal predictability, especially in IP rights, data protection, cross-border data, and tech transfer.

Recognising data as a national resource is necessary, but Vietnam must strike a delicate balance between sovereignty and openness. Clear definitions of data ownership, rules for data localisation, and a transparent personal data protection law will be vital. Vietnam should also align with international standards to facilitate cross-border operations and enhance trust for global investors.

While the resolution addresses talent development, implementation must overcome systemic challenges in STEM education and brain drain. Vietnam should invest in training-the-trainers, modernise curricula in emerging technologies, and create pathways for foreign experts to work without administrative burdens. Facilitating industry, academia partnerships and incentivising lifelong learning can also enrich the innovation ecosystem.

In ecosystem building and industry clustering, to nurture innovation ecosystems, Vietnam should actively facilitate links between enterprises, universities, research institutes, and state actors. Specialised technology clusters, complete with digital infrastructure, labs, and venture support, should be designed with sector-specific focus, such as AI in Hanoi, semiconductors in Danang, and smart logistics in Ho Chi Minh City. Local governments should be empowered with land, budgetary, and admin authority to build such clusters.

Vietnam must continue leveraging its international commitments to open tech investment. Engagement in setting global standards, participating in AI governance, and joining tech-focused multilateral initiatives will enhance its credibility as a responsible and strategic partner.

To align with environmental, social, and governance trends, Vietnam must prioritise green data centres, energy-efficient manufacturing, and ethical AI frameworks. Foreign investors consider sustainability and governance standards in decisions, and so clear guidance on green finance, tax incentives for clean-tech investments, and public procurement preferences can strengthen Vietnam’s competitive edge.