Vietnam targets 2% of GDP for R&D by 2030, private sector to lead

Vietnam aims to raise research and development spending to 2 % of gross domestic product by 2030, with a goal of high‑tech products accounting for half of its exports. In 2025 private investment in the technology sector reached about US$4.5 billion across 149 deals, including a record US$4 billion in private‑equity funding and a 28 % rise in venture‑capital inflows.

International technology corporations, R&D centres and venture funds are increasingly locating in the country. Vietnam now ranks 44th in the Global Innovation Index and is listed among the top 50 emerging startup ecosystems worldwide. The Ministry of Science and Technology says the state budget must contribute at least 3 % of the total annual budget, while the private sector is expected to become the largest source of R&D financing. Nguyen Quân, chairman of the Vietnam Automation Association, warned, “Korea took 40 years and China 30 years to reach 2 % of GDP for R&D; Vietnam has only five years left to achieve the same level.”