Plans to develop billion-dollar strategic tech firms by 2030

Plans to develop billion-dollar strategic tech firms by 2030

The plan also calls for the construction of at least five large-scale, internationally certified and green data centres to support the country's ambition to become a regional data hub.

A data centre of Viettel in Hoà Lạc High-tech Park, Hà Nội. Việt Nam aims to build at least 10 strategic technology companies with annual revenue exceeding US$1 billion by 2030. — VNA/VNS Photo

At least 10 strategic technology companies with annual revenue exceeding US$1 billion by 2030 are being planned as part of a government initiative to strengthen national capabilities in artificial intelligence, data, digital infrastructure and cybersecurity.

The target was outlined in Decision No. 1091/QĐ-TTg, approved on June 17 on the development of large-scale domestic strategic technology enterprises during 2026-30.

Under the plan, the new companies must generate at least $1 billion in annual revenue, employ a minimum of 5,000 workers participating in social insurance, spend at least 3 per cent of revenue on research and development (R&D) and operate an in-house science and technology organisation.

In addition, they must hold at least one patent granted by a leading international intellectual property office, such as the United States Patent and Trademark Office (USPTO), European Patent Office (EPO), Japan Patent Office (JPO), Korean Intellectual Property Office (KIPO) and China National Intellectual Property Administration (CNIPA).

The government aims for Vietnamese companies to master at least 70 per cent of technologies listed in the national strategic technology portfolio.

By 2030, Việt Nam plans to bring into operation at least six new international submarine fibre-optic cable routes, including at least one invested by a Vietnamese enterprise. Nationwide 5G coverage is expected to reach 99 per cent of the population.

The plan also calls for the construction of at least five large-scale, internationally certified and green data centres to support the country's ambition to become a regional data hub.

Việt Nam also seeks to rank among Southeast Asia’s top three countries in AI research, development and application by the end of the decade with the development of at least six AI systems based on Vietnamese data to address key challenges in sectors including justice, finance, agriculture, environment, education and healthcare.

Strategic technology companies will also be tasked with developing blockchain platforms for public administration and business operation.

Another focus is to build a national cybersecurity capability to protect critical digital infrastructure, personal data and digital sovereignty.

The government also plans to develop digital twin models for selected provinces and cities, which integrates data on transport, environment, healthcare, education, logistics and urban infrastructure.

To achieve the goals, the Government will introduce measures to facilitate technology research and development as well as market expansion.

Local governments are encouraged to establish regulatory sandboxes for digital infrastructure, data services, strategic technologies and cybersecurity products before large-scale deployment.

The plan also aims to mobilise domestic and foreign investment funds for major science, technology and digital transformation projects, while encouraging large technology firms to share technical standards, data and technology with smaller companies, research institutes and universities.

Companies participating in key national technology projects will receive priority access to investment promotion programmes, intellectual property protection support and state-backed funding schemes, including the National Foundation for Science and Technology Development and the National Technology Innovation Fund. 

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