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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.