Summary of the Vietnam Innovation & Private Capital Report 2025

As part of our ongoing commitment to supporting the growth of the Vietnamese startup ecosystem, The Invention Lab is pleased to have contributed our firm’s investment data to the Vietnam Innovation & Private Capital Report 2025, published by the Vietnam National Innovation Center (NIC), Vietnam Private Capital Agency (VPCA), and Boston Consulting Group (BCG).

We’re also honored that The Invention Lab is recognized as one of the active foreign investors in Vietnam in 2024 (2+ deals) in the report.

Below is a summary of key insights from this in-depth report to give you a quick look at the Vietnam startup landscape 🔍

1. Vietnam’s economic & digital potential

• Strong and resilient economy: Vietnam has maintained an average real GDP growth rate of 6% annually over the past decade, striking a balance between economic expansion and controlled inflation.

• Leading export growth: Vietnam tops ASEAN in global export growth and maintains strong trade relationships with the US, China, Korea, Japan, ASEAN, and the EU.

• Attractive FDI destination: The country consistently attracts foreign direct investment, particularly from Asian-based investors.

• Favorable demographics: A young, sizable labor force and a growing middle and affluent class fuel domestic consumption and productivity.

• Supportive policy environment: The National Master Plan (2021–2030, Vision to 2050) promotes digital, green, and high-tech economic development.

• Strategic innovation roadmap: Resolution No. 57 guides Vietnam’s long-term commitment to science, technology, innovation, and digital transformation.

• Booming digital economy: Growing at 20% annually, Vietnam’s digital economy benefits from strong adoption and interconnected systems.

• Cross-sector digital impact: Digital transformation is accelerating in ICT, financial services, logistics, and ride-hailing sectors.

2. Venture capital landscape

• In 2024, total capital invested dropped to $398M, marking a 24.7% decline from 2023.

• The number of deals also fell to 118, continuing the downward trend from previous years.

• Smaller deals made a sharp comeback while median deal sizes shrank across stages.

• Notable investment activity was concentrated in AI, agriculture, and greentech.

3. Vietnam’s emerging sectors

The report covers 15 sectors, including energy, green tech, vertical AI, insurtech, martech, lending, consumer, healthcare, health & wellness, education, cross-border, media & entertainment, automotive innovation, bioplastic manufacturing, and agriculture.