Vietnam aims for 10 strategic tech firms worth $1 billion by 2030

Vietnam aims for 10 strategic tech firms worth $1 billion by 2030

A new government plan aims to foster at least 10 large-scale strategic technology companies with annual revenues of $1 billion or more by 2030.

Photo: baodautu.vn

The plan, unveiled on June 17, seeks to drive the development of digital infrastructure, workers, data, strategic technologies, and cybersecurity during the 2026-2030 period.

Under the scheme, large-scale strategic technology companies must meet several criteria simultaneously, including annual revenue of at least $1 billion and an average workforce of no fewer than 5,000 employees. They are also required to allocate a minimum of 3 per cent of annual revenue to research and development.

The companies must hold at least one patent granted by one of the world’s five leading intellectual property offices, namely the United States Patent and Trademark Office, the European Patent Office, the Japan Patent Office, the Korean Intellectual Property Office, or the China National Intellectual Property Administration.

According to the government, strategic technology enterprises will play a central role in developing digital infrastructure, strategic technologies, digital data, and cybersecurity, supporting national priorities in sci-tech, innovation, and digital transformation.

In digital infrastructure, Vietnam plans to add at least six new international submarine fibre-optic cables by 2030, including at least one route invested in and controlled by a domestic enterprise. The government also aims to expand 5G coverage to 99 per cent of the population.

At the same time, five large-scale data centres meeting international green standards will be developed to position Vietnam as a regional data hub.

In strategic technologies, Vietnam aims for domestic enterprises to master at least 70 per cent of technologies included in the approved strategic technology list. The country also targets becoming one of Southeast Asia’s top three markets for AI research, development, and application.

In addition, strategic technology companies will participate in developing digital twins for selected localities, building shared blockchain platforms, and creating cybersecurity solutions capable of competing internationally.

To support the sector’s development, the government pledged to continue improving the regulatory framework and prioritising resources for key projects in innovation, technology, and digital economy development. Authorities will also support market development, strengthen intellectual property protection, boost international trade, and encourage localities to establish regulatory sandboxes for new digital technology products.

VIR