Deputy Prime Minister Nguyen Chi Dung speaks at the Vietnam Innovation and Private Capital Investment Forum 2025 (VIPC Summit 2025) in Hanoi on April 22. (Source: VNA)

In his keynote speech, Dung highlighted an unprecedented wave of investment in hi-tech sectors and innovation, with artificial intelligence (AI), particularly generative AI, emerging as a strategic focus for global investors. He noted that sustainable development, green growth, and circular economy have become inevitable global trends, driving nations to prioritise innovation.

The financial sector is transforming through fintech solutions like digital payments, blockchain, and online lending, expanding access to capital and services for millions worldwide, Dung said, underscoring the critical role of innovation funds and private capital, citing models in Europe, the Republic of Korea, and the US.

Vietnam identifies sci-tech, innovation, and digital transformation as key economic drivers over the next decade, he said, noting that Vietnam’s strategic appeal to global tech giants is bolstered by a major shift in global supply chains, allowing the country to expand its manufacturing footprint in electronics, semiconductors, and AI. With strong support from the National Innovation Centre, leading corporations like NVIDIA, Samsung, Qualcomm, Meta, and Google have chosen Vietnam as a hub for R&D, innovation, and industrial development.

According to the Deputy PM, Vietnam is also accelerating institutional reforms to unlock resources for innovation. This includes improving the legal framework for capital markets, preparing for future international financial centres, and rolling out strategies for semiconductors, AI, and blockchain. Incentives and support for hi-tech firms, startups, and venture investors are being ramped up, with a landmark government decree on establishing an investment support fund to bolster hi-tech startups and venture investors.

Dung called for swift and decisive action to convert memoranda of understanding into tangible investments and turn potential into real economic outcomes. He encouraged key players in the innovation ecosystem, including venture capital funds, startups, and innovation-driven enterprises, to continue advocating for institutional and policy reforms. These reforms should create a more open and favourable environment for private investment funds, particularly those with a focus on emerging technologies and strategic sectors.

Ministries, agencies, research institutes, universities, and innovation centres were tasked with providing active support for startups and investors, creating a more transparent, dynamic, and accessible platform for businesses to thrive.

Expressing his hope for continued partnerships, Dung invited investment funds, global tech firms, and international organisations to collaborate with Vietnam to build a sustainable innovation ecosystem where ideas are nurtured, talents are empowered, and resources are fully optimised.

VIPC Summit 2025, a continuation of the annual Vietnam Venture Summit, has drawn nearly 10,000 delegates, over 120 foreign speakers, and hundreds of leading global investment funds and financial institutions over its four successful editions. This year’s forum features high-level discussions on expanding internationally amid global economic uncertainties, global exit & initial public offering trends, the future of fintech in Vietnam, and the signing of multiple MoUs to increase regional investment and cooperation, among others.