Vietnam wants to have 10 tech “unicorns” in 2030

Vietnam wants to have at least five billion-dollar tech firms (unicorns) by 2025 and 10 by 2030 as planned in its draft on national strategy on the Fourth Industrial Revolution.

Under the draft announced by the Ministry of Planning and Investment (MPI), the total social investment into research and development (R&D) is expected to account for 1.5 percent of GDP by 2025. Vietnam will be in the top 30 countries in the world in terms of number of patents in the prioritised technology sectors.

In addition, Vietnam targets to have at least five companies by 2025 and 10 firms by 2030 with exports of products and services using Industry 4.0 technologies or next generation such as 5G, Internet of Things (IoT), artificial intelligence and data analysis to G7 countries.

The country wants at least 20 percent of firms to adopt Industry 4.0 by 2025 and 40 percent by 2030.

Vietnam needs to rank at least 30th in the Global Innovation Index, it said. The country now ranks 42nd.

To successfully implement the strategy, the draft provides two plans, including renaming the National Steering Committee on economic restructuring and innovating growth model to National Steering Committee for growth and Industry 4.0. It will establish a National Committee on Industry 4.0.

Source: VOV5