From reset to renewal for tech startup ecosystem

Vietnam closed 2025 with impressive growth results.

- By Nam Doan Investment director, ThinkZone

GDP reached approximately $514 billion, placing Vietnam among the fastest-growing economies globally. GDP per capita rose to over $5,000, a meaningful milestone that reflects the strengthening purchasing power of the domestic market.In contrast to this strong macroeconomic performance, Vietnam’s startup investment market remained subdued. According to the Vietnam Tech & Venture Capital Outlook 2025 report by VinVentures, only 41 venture deals were publicly announced, with a total investment value of $215 million, representing declines of 42 per cent in deal count and 30 per cent in total capital deployed.

Disclosed investments were largely concentrated in deals exceeding $5 million, spanning sectors such as edtech, retail, energy, and environmental technologies. This pattern indicates that large venture funds have become more cautious, reallocating capital towards later-stage startups with stronger cash flows, lower risk profiles, and clearer paths to profitability.

One of the most important highlights in 2025 was the advancement of policies on tech entrepreneurship and innovations in the form of resolutions, laws, and other regulations. Together, these measures have provided clearer regulatory guidance for emerging technology business models, introduced tax incentives for startups and investors, as well as improved the overall environment for venture investment.