Vietnamese Government Spending in Science and Technology to Triple
On November 15, Prime Minister Pham Minh Chinh announced a plan to allocate approximately VND95 trillion (US$3.6 billion) from the state’s 2026 budget to support science, technology, innovation, and digital transformation during the fifth meeting of the Government’s Steering Committee on Science, Technology, Innovation, Digital Transformation, and Project 06. This will lead to a tripling of the government’s spending on science and technology in 2026 compared to 2025, in line with Vietnam’s ambitions to become a tech-driven economy through transformational breakthroughs as outlined under Resolution 57 and Decision 1131/QD-TTg.
To support Vietnam’s digital transformation, the Government has sought to complement its spending increases with finalizing its legal framework for science, technology, innovation, and digital transformation. The Prime Minister has called for 19 draft laws and seven resolutions to be submitted to support modern, unified, and shared infrastructure, which has led to the recent passage of Vietnam’s first AI Law as well as the Law on Digital Transformation. During the first 10 months of 2025, the ICT sector recorded over VND4 quadrillion (US$151.8 billion) in revenue, with the hardware and electronics sector contributing over 12 percent to national GDP.