The report, compiled by the National Innovation Center, Boston Consulting Group and the Vietnam Private Capital Investment Development Organization, highlights the growing impact of AI on sectors such as automation, finance, healthcare, and e-commerce.
Notable Vietnamese AI startups include VinBrain, Eureka Robotics, NamiTech, Earable, Presight, and Palexy.
The GenAI Startup ASEAN 2024 report by the GenAI Fund had said Vietnam ranked second in Southeast Asia in the number of startups with 27% of the total and behind only Singapore’s 44%.
“With government support, a strong workforce and increasing business adoption, Vietnam’s AI ecosystem is set to shape the country’s economic future,” a representative from NIC said at the 2025 Vietnam Innovation and Private Capital Summit held in Hanoi on April 22.
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VinBrain founder Truong Quoc Hung (left) at the startup’s booth during the 2023 Vietnam Innovation Day. Photo courtesy of the National Innovation Center |
The agritech sector has also seen a sharp rise in funding.
Private investment in Vietnamese agritech startups was up ninefold from $8 million in 2023 to $74 million in 2024.
The NIC representative said these projects often focus on precision farming, digital supply chain management and sustainable business models, with companies like Enfarm and Techcoop leading the way.
Green technology also attracted investors’ attention, accounting for 10 deals in 2024 driven by a shift toward green transition and emission reduction.
Nearly 150 investors participated in the Vietnamese market last year, the highest since 2021, with Singaporean investors leading the charge and Japanese investors returning after a period of inactivity.
“At a time of global instability, Vietnam has emerged as a hub for sustainable growth, innovation and forward-thinking policies,” Le Hoang Uyen Vy, president of VPCA and CEO of Do Ventures, said.
“Vietnam is transitioning from a promising market to one poised for breakthroughs.”
Ben Sheridan, global director of financial investments at Boston, said: “Investors who understand Vietnam’s macroeconomic landscape and have a long-term vision will be well positioned to shape the next wave of growth in Southeast Asia.”
