Vietnam’s Hi-Tech Exports Surpass 50% As Startup Ranking Reaches Record High
High-tech products accounted for 50.76% of Vietnam’s total exports in the first quarter of 2026, underscoring the growing contribution of technology-intensive industries to the country’s economy. The milestone comes as Vietnam continues to strengthen its innovation ecosystem and accelerate digital transformation efforts across both the public and private sectors.
The country also achieved its highest-ever position in StartupBlink’s Global Startup Ecosystem Index, climbing five places to rank 50th globally in 2026. The improvement reflects continued growth in Vietnam’s startup and innovation landscape, which now includes 963 science and technology enterprises, 20 technology exchanges, and 37 innovation centres operating across 26 provinces and cities.
Digital adoption is also expanding. As of May 2026, 50.2% of administrative procedures were fully available online. At the same time, Vietnam’s digital economy contributed an estimated 14.02% of GDP in 2025, equivalent to approximately US$72.1 billion, highlighting the increasing economic impact of digital technologies.
The country has also maintained a strong position in telecommunications infrastructure, ranking 11th globally for both mobile and fixed broadband speeds. Vietnam currently has 110.5 million mobile broadband subscriptions, including 24.29 million 5G users, alongside 25.62 million fixed broadband subscriptions.
Beyond domestic development, Vietnam is expanding international cooperation in innovation and emerging technologies. Initiatives such as the Vietnam–India Innovation Forum, along with discussions on future technologies including 6G, drones, and satellite systems, are helping strengthen connections between local innovation efforts and global technology networks.
Vietnam's First Unicorn VNG Sets Strong Profit Target Amid AI Push
Vietnamese technology unicorn VNG has set its first full-year profit target since listing on UPCoM, signaling a stronger emphasis on profitability alongside growth. The company aims to generate VND12.5–13.5 trillion (US$480–510 million) in net revenue and VND300–450 billion (US$12–17 million) in pre-tax profit in 2026, representing revenue growth of 15–25% and adjusted operating profit growth of 15–30%.
The target follows a strong start to the year. In the first quarter of 2026, VNG reported revenue of VND2.785 trillion (US$106 million), up 32% year-on-year, while adjusted operating profit surged 154% to VND470 billion (US$17.9 million). The company also recorded a net profit for the quarter, reinforcing signs that its business is entering a new phase where operational performance is becoming increasingly important.
That shift gained momentum in 2025, when VNG achieved its first positive operating profit since listing. Operating results improved from a loss of VND286 billion to a profit of VND57 billion, marking a significant turnaround after years of investment across gaming, messaging, payments, and digital infrastructure.
At the center of VNG’s ecosystem, Zalo continued to strengthen its position with nearly 80 million monthly active users in 2025. The platform also reached a milestone as non-advertising revenue surpassed advertising revenue for the first time, while business accounts under Zalo OA expanded by more than 50%.
Meanwhile, ZaloPay moved closer to profitability. Revenue exceeded VND1 trillion in 2025, increasing 47% from the previous year, while revenue from financial services jumped 413%. The company is targeting breakeven in 2026 and profitability in 2027.
Artificial intelligence is becoming a key layer across VNG’s businesses rather than a standalone operation. The company is embedding AI capabilities into messaging, payments, gaming, and enterprise solutions, with a goal of having 30% of users adopt AI-powered features. This approach reflects VNG’s broader strategy of using AI to enhance existing products and services across its digital ecosystem.
The company is also expanding its AI infrastructure business through GreenNode, which now serves more than 1,000 enterprise customers across Southeast Asia, the United States, and the Middle East. International markets account for 68% of GreenNode’s revenue, highlighting the growing contribution of overseas operations.
Despite the improvement in business fundamentals and the company’s profitability trajectory, liquidity in VNZ shares remains limited, with average daily trading volume continuing to stay below 1,000 shares.
KKR-Backed EQuest Secures US$115.5 Million Syndicated Loan
EQuest has secured a US$115.5 million offshore syndicated loan arranged by Standard Chartered and CTBC Bank, with participation primarily from Taiwanese lenders. The financing round was oversubscribed, reflecting strong interest from international lenders and underscoring continued investor appetite for established Vietnamese businesses operating in sectors with long-term growth potential.
The new facility will support both EQuest’s balance sheet and expansion plans. Approximately half of the proceeds will be used to refinance existing debt, while the remainder will be allocated to expanding the company’s education network as it continues to build a branded platform focused on certified, high-quality educational programs.
The transaction follows EQuest’s US$120 million financing package in 2023, which included a combination of equity investment from KKR and debt financing. Backed by the global investment firm since 2021, EQuest has grown into one of Vietnam’s largest private education platforms.
According to Standard Chartered, the latest financing helps diversify EQuest’s lender base while reflecting confidence in both the company’s credit profile and the long-term prospects of Vietnam’s education sector. The deal also highlights ongoing interest among international lenders in Vietnam, supported by the country’s economic fundamentals and expectations for future capital market development.
The successful fundraising demonstrates that Vietnamese companies with established operating models and clear growth strategies can continue to attract sizeable international financing, particularly in sectors supported by long-term structural demand such as education.
Genesia Ventures is an early-stage venture capital firm operating in Japan and Southeast Asia, with a strong belief in the long-term potential of Vietnam’s digital economy. Beyond providing capital, the fund actively supports startups through strategic guidance and connections to a broader regional network.