Facts and Figures
- 97.3 million (2020)
- Major Cities
- Ho Chi Minh City, Da Nang, Can Tho, Hai Phong
- GDP per Capita
- 2,786 USD (2020)
- Average Age
- 32.5 years
- Main Industries
- textiles, telecommunications, furniture, tourism
The entrepreneurial ecosystem in Vietnam
Vietnam’s startup ecosystem continues to grow in the major cities and expand into second-tier cities, generating a wider range of startups aimed at localized markets. Organizations are specializing in verticals and adding support for corporate innovation. Multiple cities are now home to incubators, accelerators and mentorship programs, creating a strong foundation for further ecosystem expansion. There is a national gov’t program supporting innovation and access to international markets. A healthy flow of domestic and international investment continues to develop, although there remains a gap in funding for the earliest stage startups and women founders.
Competitive advantage: Large, domestic market and a tech-savvy population with widespread English-language skills and strong STEM background.