THE HANOI TIMES — Prime Minister Pham Minh Chinh proclaimed innovation as the cornerstone of Vietnam’s progress during the inauguration of TECHFEST Vietnam 2025 in Hanoi. He emphasized its role in fostering entrepreneurship, harnessing intellectual capital, and ensuring societal benefits from economic growth.
Addressing the national startup festival by Hoan Kiem Lake on December 13, the Prime Minister asserted that innovation transcends rhetoric, becoming a tangible force shaping Vietnam’s socio-economic trajectory.
“Innovation empowers Vietnam to tackle structural challenges, from the middle-income trap to environmental degradation and rapid urbanization,” stated Prime Minister Chinh.
Prime Minister Pham Minh Chinh delivers the keynote address at TECHFEST Vietnam 2025, held in Hanoi from December 12-14. Photos: Ministry of Science and Technology
Themed “National Creative Startups for New Growth Drivers,” the event aims to catalyze technological innovations with measurable socio-economic impact, according to the Prime Minister.
He underscored the imperative of fostering mass innovation and entrepreneurship to address national challenges, including the middle-income trap, aging population, environmental pollution, and urban pressures.
“Open innovation serves as a critical link between economic growth and community welfare, driving Vietnam’s pursuit of inclusive innovation and digital transformation,” the Prime Minister remarked.
He emphasized the need for technology to be human-centric, aligning with the Politburo’s Resolution No.57 on sci-tech development, innovation, and national digital transformation.
“Ensuring equitable digital access for all, including youth, women, and vulnerable groups, is essential for fostering innovation, sustainability, and inclusive growth,” Prime Minister Chinh added.
Prime Minister Pham Minh Chinh (front row, third from left), Hanoi Party Committee Secretary Nguyen Duy Ngoc (fourth from left), and other dignitaries tour the exhibition area at TECHFEST Vietnam 2025.
He highlighted that sustainable development hinges on innovation, connectivity, and inclusivity, with open innovation bridging community needs and startup capabilities to ensure “no one is left behind.”
Insights from TECHFEST Vietnam 2025 will bolster the open innovation ecosystem, fostering sustainability, inclusivity, and public engagement in the national innovation agenda.
The Prime Minister lauded Vietnam’s startup ecosystem, comprising nearly 4,000 startups and tech unicorns. “Vietnam ranks 44th out of 139 countries in the Global Innovation Index and is among the world’s top three fastest-growing startup ecosystems.”
However, he acknowledged significant challenges, including the gap with global counterparts and Vietnam’s position in strategic sectors like semiconductors, artificial intelligence, and big data.
He also identified key hurdles in Vietnam’s open innovation landscape, such as limited data availability, weak collaboration frameworks, inadequate impact measurement, and a shortage of skilled talent.
Delegates explore sci-tech exhibits at TECHFEST Vietnam 2025.
Prime Minister Chinh urged ministries, businesses, investors, and youth to champion entrepreneurship, embrace risk-taking, and collaborate in building a robust national startup and innovation ecosystem.
A highlight of the opening ceremony was a digital art showcase depicting Phu Dong, symbolizing the Vietnamese startup community’s aspiration for rapid, resilient, and sustainable growth in the digital era.
The Organizing Committee recognized 10 localities for their startup ecosystem development and awarded commemorative plaques to winners of the international Data for Life 2025 competition.
Hanoi Party Committee Secretary Nguyen Duy Ngoc (center) presents awards to winners of the Data for Life 2025 competition.
Science and Technology Minister Nguyen Manh Hung (center) honors 10 outstanding localities for their contributions to the innovative startup ecosystem in 2025.
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