Vietnam has spent the past decade building its reputation as one of Southeast Asia’s most dynamic technology markets, but the last twelve months have marked a sharper turning point in its digital trajectory. What once looked like steady progress has evolved into a decisive shift in scale, ambition and global relevance. Across sectors as varied as consumer e-commerce, electric mobility, agritech, financial services and deep tech, Vietnam is moving from emerging player to regional leader. The stories we covered throughout the year reveal a market that is not only expanding quickly but is also reshaping its fundamentals, strengthening its innovation capacity and pushing into sectors with long-term competitive advantage.
From the rise of new startup ecosystems in Hanoi and Ho Chi Minh City to the country’s push toward becoming a global financial hub, Vietnam is showing clearer signs of strategic intent. Local brands with strong international potential, such as Coolmate, are demonstrating how Vietnamese companies can scale while keeping identity and operational discipline. At the same time, the rapid ascent of electric two-wheelers and homegrown pioneers like Dat Bike shows how Vietnam is setting the pace in green mobility, driven by both consumer demand and manufacturing strength. These developments sit alongside the growth of next-generation technologies in agritech and artificial intelligence, where Vietnam is capitalising on a young, skilled workforce and rising investment.
Together, the stories highlight a country entering a new phase of digital maturity. Vietnam is not simply participating in the region’s tech boom. It is beginning to define it.
A startup ecosystem moving into its next stage
Vietnam’s startup economy is often described as being at the threshold of producing more unicorns. Our analysis of the market notes that both Hanoi and Ho Chi Minh City have become active centres for venture capital, talent and startup creation. The ecosystem benefits from a young population, high smartphone penetration and one of the fastest rising digital consumer bases in the region. Reports from the Vietnam National Innovation Centre suggest that the country aims to have at least five unicorns by 2030, reflecting a national commitment to scale innovation at pace.
The market is attracting record investment in areas like fintech, retail technology, logistics and education. The articles highlight increasing founder confidence and a maturing ecosystem where companies are focusing on sustainable unit economics rather than growth at all costs. This pattern reflects broader regional trends documented in the eConomy SEA 2024 report by Google, Temasek and Bain, which observed that Vietnam is among the region’s fastest-growing digital economies.
Vietnam’s ambition to become a global financial hub
One of the more striking developments is Vietnam’s stated ambition to position itself as a global financial centre. While regional hubs like Singapore and Hong Kong remain dominant, Vietnam sees an opportunity to carve out a role based on manufacturing strength, domestic consumption and digital innovation.
Government-led discussions have highlighted strategies to modernise capital markets, attract foreign institutions and develop financial infrastructure that can support large-scale investment. This includes regulatory improvements, sandboxes for digital finance and initiatives to expand green finance. According to the State Securities Commission of Vietnam, plans are underway to upgrade market classifications and attract more foreign portfolio flows. This direction aligns with global investor interest in Vietnam as a fast-growing economy benefiting from supply chain diversification away from China, a trend noted in coverage by Reuters and the Financial Times.
Coolmate and the rise of homegrown consumer brands
Vietnam’s tech-enabled retail sector has produced several success stories, with Coolmate capturing both investor attention and consumer loyalty. The menswear retailer represents a new wave of Vietnam-born brands that combine local manufacturing capabilities with digital operations and data-driven marketing. TechCollectiveSEA’s profile of Coolmate highlights how the company has scaled by integrating supply chain efficiencies, direct-to-consumer channels and customer-centred design.
This model signals a broader shift in Vietnam’s brand landscape. Domestic companies are becoming more confident in their ability to compete with global brands on quality, speed and price. The rise of locally made products is also supported by Vietnam’s strong manufacturing foundation, which has become more important as global companies diversify production footprints. External reporting from Nikkei Asia and Bloomberg confirms that Vietnam continues to attract foreign investment in apparel, electronics and consumer goods manufacturing, reinforcing the environment that brands like Coolmate thrive in.
The electric two-wheeler revolution and Dat Bike’s growing influence
Vietnam is one of the world’s largest motorbike markets, and this makes electric two-wheelers a critical part of the country’s energy transition story. Dat Bike, a local EV manufacturer, has emerged as a standout example of homegrown innovation aimed at solving domestic mobility challenges.
The company builds electric bikes designed for Vietnam’s road conditions and consumer behaviour. According to the TechCollectiveSEA feature, Dat Bike is advancing rapid charging infrastructure, battery durability and performance features that align with daily commuting patterns.
This is significant because Vietnam has already signalled national commitments to reduce carbon emissions and improve air quality. The Ministry of Transport has outlined policies to encourage EV adoption across public and private sectors. External coverage from the International Energy Agency and VNExpress shows that Vietnam is pushing EV infrastructure development and exploring incentives to reduce reliance on fossil fuel-based mobility. Dat Bike’s progress fits squarely within these national sustainability goals while also differentiating Vietnam in the regional EV landscape.
Agricultural technology and AI fuel Vietnam’s next generation of innovation
Agriculture remains one of Vietnam’s most important economic pillars. Yet the sector has long faced issues such as volatile yields, climate risk and limited digital adoption. Over the past two years, agritech startups have stepped in with solutions ranging from precision farming tools to AI-powered analytics.
We covered Vietnam’s agritech surge, outlining how startups are deploying drones, sensors and machine learning models to improve crop productivity and resilience. This shift is driven not only by agricultural needs but also by national strategies to modernise rural development and improve food security.
The role of AI in Vietnam’s digital transformation is also becoming more visible. While Vietnam is not yet a global AI leader, it has made sustained investments in AI education, research and policy. The Ministry of Information and Communications has released frameworks for AI development and talent cultivation. External sources such as the World Economic Forum have also noted Vietnam’s rapid adoption of AI applications in finance, agriculture and manufacturing. These advancements demonstrate that Vietnam is not only catching up but is innovating in fields with high strategic significance.
A market poised for regional impact
The narratives emerging from Vietnam point to a market that is maturing, diversifying and asserting itself more confidently in Southeast Asia. Whether through electric mobility, consumer brands, fintech modernisation or agritech breakthroughs, Vietnam is signalling that it intends to play a larger role in shaping the region’s technological future.
Challenges remain, including regulatory inconsistencies, funding volatility and gaps in advanced tech talent. However, the country’s progress over the past five years shows resilience and momentum. Vietnam has become a critical market to watch, not only for investors seeking growth but also for policymakers and businesses observing how an emerging economy transitions into an innovation-driven ecosystem.
As the country continues to strengthen its digital infrastructure, nurture local startups and participate in global value chains, Vietnam is well positioned to become one of Southeast Asia’s leading tech powerhouses. The stories covered in TechCollectiveSEA’s reporting capture only a fragment of the activity underway, but together they reveal a clear trajectory. Vietnam is moving forward with purpose, ambition and a growing capacity to influence the region’s next chapter of technological growth.