Vietnam targets biotechnology growth amid rising global bio-economy

The global bio-economy is currently valued at approximately $5 trillion and is projected to reach $30 trillion by 2050, potentially accounting for nearly one-third of global economic value. In advanced economies across Europe and North America, the bio-economy contributes between 10% and 20% to their respective GDPs.

In Vietnam, the agriculture, forestry, and fishery sectors contribute 11% to 12% of the nation's $514 billion GDP, providing a strong foundation for agricultural and medicinal bio-economy development. The Vietnamese government has set a strategic goal for the biotechnology industry to contribute between 10% and 15% of the national GDP by 2045.

While Vietnam possesses abundant biological resources and research institutions have mastered foundational technologies—including genetic technology, tissue culture, microbial fermentation, and vaccines—challenges remain. Many research results currently remain confined to laboratories and have yet to achieve significant commercial success in the market.