Vietnam targets 10 technology giants by 2030 with $1 billion in revenue and at least 5,000 employees

On June 17, the government issued a plan to form large-scale strategic technology enterprises for the 2026–2030 period. The initiative sets out specific requirements for company scale and technology capability, and assigns the selected enterprises a central role in building Vietnam’s digital infrastructure and advancing strategic technologies.

Key eligibility criteria for strategic technology enterprises

Under the plan, strategic technology enterprises are required to meet the following conditions:

• Annual revenue of $1 billion.
• Average employment of at least 5,000 workers.
• R&D spending of at least 3% of revenue.
• Ownership of at least one patent granted by one of the world’s top five intellectual property offices: USPTO, EPO, JPO, KIPO, or CNIPA.

Development priorities: digital infrastructure and data

The government expects the enterprises to lead development in areas including digital infrastructure, digital data, strategic technologies, and cybersecurity, while also participating in national science and technology and digital transformation tasks.

For digital infrastructure, Vietnam’s targets by 2030 include:

• At least six new international submarine cable lines, with at least one owned by a domestic company.
• 5G coverage planned to reach 99% of the population.
• Establishment of five large data centers built to international green standards to position Vietnam as a regional data hub.

Development priorities: strategic technologies and AI

In the strategic technology area, the plan sets a domestic capability target: Vietnamese companies should own at least 70% of the technology in the list of strategic technologies issued by the Prime Minister.

Vietnam also aims to be among the top three in Southeast Asia for AI research, development, and application.

Planned technology participation and cybersecurity focus

Beyond AI, strategic technology enterprises are expected to participate in building digital twin models for several localities, develop a common blockchain platform, and develop cybersecurity solutions with competitive capabilities for international markets.

Implementation approach and support measures

To achieve these goals, the government said it will continue improving institutions and prioritizing resources for key science and technology, innovation, and digital transformation projects. It will also promote support mechanisms for market development, intellectual property protection, international trade promotion, and sandbox policy testing for new digital technology products.