Prime Minister Phạm Minh Chính opened the Việt Nam's Creative Startup Festival 2024 on Wednesday. — VNA/VNS Photo Dương Giang

The Ministry of Science and Technology, in collaboration with the Hải Phòng City People's Committee [municipal administration], organised Việt Nam's Creative Startup Festival (TechFest) 2024 on Wednesday. This year’s theme was "Joining Hands to Develop the Vietnamese Creative Startup Ecosystem".

Prime Minister Phạm Minh Chính addresses the Techfest Việt Nam 2024. — VNA/VNS Photo Dương Giang

The programme was part of a series of events that took place in Hải Phòng from Tuesday to Thursday. It aimed to identify the challenges and opportunities faced by multiple provinces and cities in building and developing their local startup ecosystems.

The goal was to find innovative solutions and breakthroughs while linking domestic and international resources to establish a nationwide network of local creative startup support centres.

The final round of the National Startup Talent Search competition took place within the framework of Techfest Việt Nam 2024. — VNA/VNS Photo Minh Thu

With modern infrastructure, favourable investment policies, and strong commitment from local authorities, Hải Phòng has been in the vanguard in developing startup ecosystems.

The Organising Committee presents the first prize of the National Startup Talent Search competition. — VNA/VNS Photo Minh Thu

Việt Nam's innovative startup ecosystem has experienced significant growth, facilitating the emergence of pioneering businesses that use new technologies and innovative business models, ready to compete in the global market.

In 2024, Việt Nam's Global Startup Ecosystem Index rose two places, from 58th to 56th, ranking fifth in Southeast Asia and 12th in the Asia-Pacific region. Việt Nam's Global Innovation Index has also consistently improved. It climbed four places compared to 2022, ranking 44th out of 133 countries and territories. VNS