The Next Wave of Startups (NWoS) Incubation Program 2026 was announced at the Founders’ Meetup #1 policy seminar in Ho Chi Minh City on July 31.

The event provided a comprehensive overview of Vietnam’s policies supporting startups and innovation, while offering practical guidance on how startups can effectively access resources across the innovation ecosystem.

According to Dinh Xuan Tu, acting director of the Technology Incubation Centre under the Department of Startups and Technology Enterprises at the Ministry of Science and Technology (MoST), developing a vibrant startup and innovation ecosystem, particularly technology spin-off enterprises, is increasingly important as science and technology, innovation, and digital transformation become key drivers of economic growth and national competitiveness.

“Under new resolutions and relevant directives, the Department of Startups and Technology Enterprises has led the formulation of key policies to foster innovation and technology enterprise development,” Tu said.

According to the MoST, Vietnam’s innovation startup ecosystem has made significant progress, with around 4,000 innovative startups, nearly 210 venture capital funds, close to 200 incubators, and approximately 1,000 enterprises certified as sci-tech businesses. In addition, more than 40 technology spin-offs have been established from research institutes, universities, and corporations.

However, from a public administration perspective, Tu noted that the number of technology spin-offs in Vietnam remains well below the country’s research and innovation potential.

“The commercialisation of research outcomes continues to face significant challenges. Limited access to capital, expert support, markets, and government support policies remains a major obstacle for many startups and technology spin-offs. These are also the issues that policymakers are working to address by refining mechanisms to create a more enabling environment for innovation and enterprise development in the years ahead,” he said.

Nguyen Dac Binh Minh, deputy director general of the National Academy for Advanced Techonogy and Innovation under the MoST, said Vietnam needs to foster a new entrepreneurial mindset, encouraging young people to seek employment after graduation and become founders and leaders of future technology enterprises and corporations.

According to Minh, the government is shifting from a regulatory mindset to a development-oriented, enabling approach that recognises businesses and innovation as key drivers of economic growth.

“Alongside the new legal framework, the government is introducing a range of policies to strengthen the innovation ecosystem. These include regulations on the National Venture Capital Fund, financial mechanisms for science, technology and innovation, public-private partnerships in sci-tech, technology market development, as well as policies to support startups and innovation networks,” Minh said.

Following its inaugural edition in 2025, the Next Wave of Startups initiative, launched by WorkFlow, the Open Innovation & Technopreneur Institute, and partners to support Vietnam’s and the region’s startup ecosystem, has entered a new phase with the launch of the NWoS Incubation Program 2026.

While the 2025 edition focused on identifying and selecting promising startups through a competition format, the 2026 programme marks a shift towards a comprehensive incubation model. The initiative is designed to support startups in refining their business models, expanding into new markets, and strengthening their long-term growth potential.

The 2025 NWoS offering attracted nearly 200 applications, bringing together almost 40 local and international experts and mentors, as well as more than 1,000 participants, including representatives from organisations, businesses, and international partners. These outcomes reflected the strong interest of the startup community while providing organisers with valuable insights into the evolving needs of Vietnamese startups as they move into their next stage of development.

As Vietnam’s innovation ecosystem continues to mature, an increasing number of startups have progressed beyond the ideation stage, with early products already in the market. They are now facing more complex challenges, including validating business models, acquiring enterprise customers, expanding into new markets, and preparing for fundraising rounds. In response, the programme has evolved into an incubation model focused on providing long-term, hands-on support, rather than limiting its role to identifying and selecting promising startups.

Private capital market shifts from growth-at-all-costs to patient capital As Vietnam’s private capital market matures, investors are shifting their focus from aggressive expansion to long-term, sustainable growth. At the VIPC Summit on May 28, Nguyen Thanh Thao, CEO of Thien Viet Securities (TVS) explained why ‘patient capital’ – capital focused on governance, operational resilience, and sustainable value – is becoming the new benchmark.

Capital concentrated in later-stage startups, leaving funding gaps for early ventures Capital remains available for Vietnam’s innovation economy, but it is becoming increasingly concentrated in later-stage companies, exposing critical funding and exit gaps that could constrain the next generation of startups.

Second-quarter 2026 financial results released by several cement manufacturers point to solid business performance both during the quarter and in the first half of the year.

Accordingly, Vicem Ha Tien Cement JSC has reported second-quarter (Q2) 2026 net revenue of approximately $90.4 million, up 17 per cent on-year. Its pre-tax profit reached $6.73 million, an increase of 31.7 per cent on-year.

The result marked the company’s highest quarterly profit in the past five years, enabling Vicem Ha Tien to complete more than half of its annual profit target after the first half of the year.

Total cement and clinker consumption approximated 61 million tonnes in the first half of 2026, up nearly 16 per cent on-year

According to the company, the strong performance was driven by a 6.4 per cent increase in cement sales volume compared with the same period of 2025.

The company also recognised revenue from cost-recovery fees related to the construction of a road stretch connecting Nguyen Duy Trinh road to Phu Huu Industrial Park in Ho Chi Minh City.

For the first six months of 2026, Vicem Ha Tien posted net revenue of nearly $164.8 million and pre-tax profit of more than $10.8 million, representing on-year growth of 17.15 per cent and 109.5 per cent, respectively.

La Hien VVMI Cement JSC also reported improved results, saying cement sales volume rose about 12.4 per cent in Q2 as local property market showed signs of recovery.

In addition to higher average selling prices, which boosted revenue compared with the same period last year, the company’s financial income increased by nearly 63.6 per cent. Measures to improve productivity and reduce production costs also contributed to stronger profit growth.

The company’s net revenue reached $7.9 million, up 5 per cent on-year, while Q2 pre-tax profit rose 47 per cent to $1 million. In the first half of 2026, the company’s pre-tax profit totalled $1.12 million, an increase of 40.7 per cent from a year earlier.

Vicem But Son, which posted a pre-tax loss of $644,000 in the first half of 2025, returned to profitability with first-half 2026 pre-tax earnings of $564,000, including $440,000 in the second quarter alone.

Vicem Hoang Mai also reported positive results, recording first-half pre-tax profit of $320,000, up 1.5 per cent on-year.

According to data from the Vietnam Building Materials Information and Data Centre (BIDC), total cement production reached 58.14 million tonnes in the first half, an increase of around 9 per cent compared with the same period last year.

Total cement and clinker consumption reached 60.98 million tonnes, up nearly 16 per cent. Although June saw signs of slower market growth, cumulative first-half results continued to reflect solid underlying demand.

Domestic consumption totalled 41.58 million tonnes, up 16 per cent on-year, while total exports reached 19.4 million tonnes, an increase of 15 per cent. Export value was approximately $720.5 million, up 14 per cent from the same period last year.

BIDC also noted that market activities slowed in June, with production, domestic consumption and exports all declining slightly from the previous month, although remaining above levels recorded in June 2025.

The trend suggests that market demand has not weakened remarkably, but future growth is becoming increasingly dependent on public investment and exports.

During the remainder of the year, the cement industry’s outlook will hinge on the pace of infrastructure investment disbursement, the recovery of the property market and developments in international freight costs.

Businesses face challenges in greenhouse gas inventories Enterprises, particularly in the thermal power, cement, and iron and steel sectors, face major challenges in compiling greenhouse gas inventories due to fragmented data systems, inconsistent activity data, and a lack of dedicated personnel.

Thailand cuts 3.8 million tonnes of CO2 via low-carbon cement Thailand reduced more than 3.8 million tonnes of CO2 through low-carbon cement adoption, exceeding its nationally determined contribution targets and advancing a collaborative public-private Net Zero model.

Cement firms maintain pessimistic outlook Cement firms across the country continue to face tough times with dwindling consumption amidst the stagnant real estate market, reduced residential project deployment, and shrinking exports.

Cement firms aspire for better performance following policy move A new policy aimed at addressing the challenges facing the production and consumption of construction materials, particularly cement, is expected to help the sector boost consumption and improve revenue over the rest of this year.

While overall hiring demand remained broadly flat on-year, employers continued to prioritise strategic and business-critical positions that support growth, operational efficiency, digital transformation and governance.

Vietnam’s strong economic fundamentals continued to support recruitment activity. The country attracted $34.65 billion in registered foreign direct investment (FDI), representing a 61 per cent on-year increase, while disbursed FDI reached $13.03 billion, the highest in the past five years.

As business confidence improved, Adecco Vietnam recorded a 32 per cent increase in job requests in Q2 compared with Q1. However, talent availability remained a key challenge, with Adecco recording a 13 per cent decline in candidate applications compared with H1 2025. At the same time, employers continued to face intense competition for highly skilled professionals, particularly in AI, GenAI, data, cloud, cybersecurity and semiconductor-related roles.

Among all industries, manufacturing and engineering recorded the strongest hiring momentum, with job orders increasing by 70 per cent on-year, driven by manufacturing expansion, supply chain transformation and continued investment in advanced manufacturing.

Employers actively sought professionals in engineering, operations, supply chain, procurement, quality management and plant leadership, while demand for B2B sales and marketing remained stable. Talent shortages persisted across engineering, semiconductor, automation and leadership roles.

In the consumer health and retail sector, skincare cosmetics continued to outperform the broader healthcare market, supported by growing skincare awareness and rapid expansion of pharmacy, clinic and e-commerce channels. With the market expected to grow by more than 10 per cent annually, hiring demand in Northern Vietnam increased by 21 per cent on-year.

Companies continued investing in commercial and marketing capabilities, particularly across omnichannel, e-commerce, CRM and D2C functions, while AI adoption created increasing demand for digitally savvy commercial leaders.

Recruitment in technology and financial services also remained strong, with Adecco recording a 44 per cent increase in job orders compared with H1/2025. Hiring focused on AI, GenAI, data, cloud, cybersecurity and semiconductor talent, while financial services employers prioritised corporate banking, relationship management, private banking, risk, compliance and FDI banking professionals. Demand also remained high for Chinese- and Japanese-speaking banking talent.

Demand for payroll, staffing and outsourcing solutions continued to grow as organisations sought greater workforce flexibility, cost optimisation and regulatory compliance. Manufacturing, logistics, fast-moving consumer goods and technology remained the most active sectors, with businesses increasingly adopting integrated HR solutions, cloud payroll systems, electronic labour contracts and technology-enabled workforce management.

Looking ahead to H2, Adecco Vietnam expects hiring demand to remain resilient, supported by continued FDI inflows, digital transformation and business expansion across key industries. Employers are expected to remain selective, with continued demand for AI, technology, engineering, supply chain, financial services and commercial leadership talent. At the same time, demand for staffing, payroll and outsourcing services is expected to strengthen as organisations prioritise workforce agility, compliance and operational efficiency.

“We expect hiring demand to remain resilient throughout H2, although employers will continue to recruit more selectively. High demand for skilled professionals in AI, technology, engineering, supply chain, financial services and leadership positions is expected to persist, while talent shortages in these areas will remain a key challenge,” said Nguyen Hoang Thanh Chuong, head of Recruitment Business at Adecco Vietnam.

Recruitment soaring in tech titan positions A number of foreign-invested enterprises are relocating their operations to the north, creating greater demand for local recruitment.

Vietnamese recruitment landscape should expect stable salaries and regular increments The Salary Survey 2024 that was conducted by Robert Walters and released on January 17 reveals that in the face of economic challenges, the Vietnamese recruitment market is displaying remarkable resilience and showing great optimism for 2024.

Vietnam job market hits new milestone with rising salaries and race for AI talent Robert Walters Vietnam released its Salary Survey 2026 on November 25, revealing that Vietnam’s job market reached a new milestone in 2025.

Together with its March 2025 launch for nematodes, this completes a comprehensive root-protection solution addressing the two biggest underground threats across high-value crops such as durian, banana, coffee and citrus.

Vaniva is a new-generation solution and is the only product in Vietnam classified in the dual mode-of-action group, registered for the control of both nematodes and Fusarium. Photo: Syngenta Vietnam

Fusarium – a persistent, global threat

Fusarium spp.-induced yellowing and root rot are among the most difficult soil-borne diseases to manage across a wide range of crops. The fungus can persist in the soil for many years and often goes undetected until the root system has been severely damaged. By the time above-ground symptoms appear – such as yellowing leaves and widespread leaf drop – the disease is extremely difficult, and sometimes impossible, to control

Globally, a soil-borne fungal strain known as Fusarium Tropical Race 4 (TR4) – the cause of so-called “Panama disease” in bananas – is projected to affect up to 17 per cent of the world’s banana-growing area by 2040.

Without effective control, this could result in losses of approximately 36 million tonnes of bananas, representing more than $10 billion in losses to the global banana industry as a whole. FAO has also warned that the spread of TR4 could reduce global banana production by approximately 2 per cent by 2028 and affect around 240,000 jobs across the banana value chain.

In Vietnam, Fusarium spp. are also major pathogens responsible for yellowing and root rot in several economically important crops. According to studies by WASI and VAAS, the combined presence of Fusarium spp. and root-knot nematodes (Meloidogyne spp.) is a major cause of reduced growth and yield in coffee plantations in the Central Highlands.

In durian, black pepper and citrus, Fusarium – together with other soil-borne fungi – often forms part of a disease complex that weakens plants and may ultimately cause plant death if an appropriate control strategy is not implemented from the outset.

Nguyen Hac Hien, director of the Dak Lak Sub-Department of Crop Production and Plant Protection, said, “Yellow-leaf root rot has become one of the most pressing challenges in the province’s key crop-growing areas, directly affecting yields, the productive lifespan of orchards and farmers’ incomes. One of the greatest difficulties is that the disease develops below ground; by the time visible symptoms appear, the root system has often already suffered severe damage.”

“We therefore encourage farmers to take early preventive action, maintain soil health and adopt science-based integrated crop protection measures, while using crop protection products safely, effectively and strictly in accordance with label instructions. The availability of new solutions with advanced modes of action will provide valuable support for pest and disease management efforts across the province.”

Representatives of Syngenta Vietnam and WASI at the Vaniva® 450SC press conference. Photo: Syngenta Vietnam

Breakthrough solution from Syngenta

Powered by TYMIRIUM technology and featuring the active ingredient cyclobutrifluram, Vaniva 450SC provides effective control of plant-parasitic nematodes and key soil-borne diseases, particularly Fusarium spp., helping protect root systems and establish a strong foundation for healthy crop growth from the earliest stages.

Developed through more than 15 years of Syngenta research and innovation, TYMIRIUM technology is designed to address some of the most challenging below-ground pests and diseases while protecting soil and root health.

Vaniva is a new-generation solution and is currently the only product in Vietnam classified in the dual mode-of-action group, registered for the control of both nematodes and Fusarium.

By safeguarding root systems early in the crop cycle, Vaniva 450SC helps improve water and nutrient uptake, supports vigorous crop establishment, and enhances plant resilience under challenging growing conditions. Beyond delivering effective crop protection, TYMIRIUM technology reflects Syngenta’s commitment to advancing sustainable and regenerative agriculture by developing innovative solutions that help farmers increase productivity while reducing environmental impact.

According to Syngenta, solutions powered by TYMIRIUM technology are being introduced across more than 100 crops in over 60 countries, demonstrating the company’s continued commitment to innovation that enables farmers to produce more while caring for the health of their soils and the future of agriculture.

Syngenta Vietnam and WASI sign a cooperation agreement for a joint programme to develop and transfer crop protection solutions. Photo: Syngenta Vietnam

Safe for people and crops

Vaniva 450SC delivers superior efficacy at low active-ingredient rates – only 1/2 to 1/10 of some other solutions – meaning significantly less active ingredient enters the environment, reducing environmental impact and better protecting beneficial organisms. In the soil, the product does not affect earthworms or the beneficial microorganisms essential to soil fertility.

By conserving soil biodiversity and increasing root biomass, it supports soil health and a sustainable agricultural ecosystem – reflecting Syngenta’s direction of developing solutions that protect soil health, support regenerative agriculture and reduce environmental impact.

The launch of Vaniva 450SC reflects Syngenta’s long-term commitment, guided by its purpose of “Breakthroughs for farmers, in every field.”

What sets Syngenta apart is not only its innovative products, but also its integrated approach – combining world-leading research and innovation with close partnerships with farmers through technical knowledge transfer, safe crop protection stewardship training, field days, and on-farm demonstration trials conducted directly in farming communities.

Tran Thanh Vu, managing director of Syngenta Vietnam, said, “With Vaniva 450SC we complete a comprehensive root-protection solution for farmers – from nematodes to fungal disease, including Fusarium, for which no truly effective solution previously existed. This is the result of many years of research, and it reflects Syngenta’s commitment: bringing the most advanced technologies, safer for people and the environment, to Vietnam’s fields.”

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The draft decree aims to strengthen decentralisation, reduce procedures, and unlock resources for the enterprise, while ensuring transparency and strict supervision in line with market economy principles and state management.

Photo: VNR

The draft proposes special mechanisms for the railway industrial complex project; management, maintenance, repair, renovation, and upgrading of national railway infrastructure assets; construction of commercial and office buildings at railway stations; and investment credit incentives.

The investment preparation process for the railway industrial complex project is subject to several specific policies as follows: Vietnam Rail (VNR) is allowed to consult domestic and foreign contractors and organisations regarding technology, reference prices, and potential risks during the project preparation process; this consultation must be transparent and must not provide an unfair advantage to any supplier.

VNR is allowed to decide on the use of foreign contractors for consulting and pre-implementation activities for the project.

Regarding the performance of tasks and orders for railway industrial services and railway industrial goods of the railway industrial complex, VNR is assigned and orders enterprises in which VNR has 100 per cent invested capital to perform all or part of railway industrial services and railway industrial goods in accordance with the law.

The draft clearly states that VNR is assigned the task of commissioning its dependent and independent accounting units, and commissioning its subsidiaries to carry out repairs, renovations, upgrades, and functional enhancements to national railway infrastructure assets using the company’s own capital.

In cases where the state entrusts VNR with the management, maintenance, operation of national railway infrastructure, VNR shall implement initiatives to construct commercial service and office buildings within railway stations and on land designated for railways associated with stations through the selection of investors as stipulated in the 2025 Investment Law.

The MoF also proposes adding investment projects for the production, assembly, and procurement of various types of railway locomotives and carriages; specialised vehicles operating on railways; machinery and equipment for railway infrastructure maintenance; and mechanical components, systems, and parts for the production and assembly of locomotives, carriages, and railway transport vehicles to Section III – the list of investment credit loan projects issued with the government’s Decree No.78/2023/ND-CP from 2023, amending and supplementing a number of articles of Decree No.32/2017/ND-CP from 2017, on state investment credit.

At present, the draft is currently open for public comment on the MoF’s online portal.

Vietnam Railways restructuring plans approved With the approval of the restructuring plan for 2026-2030, Vietnam Railways will develop into a group model, aiming to create a driving force for the industry development and attract more investment.

More opportunities for French businesses in Vietnam’s railways Vietnamese Deputy Minister of Construction Nguyen Tuong Van on May 7 worked with a delegation of French businesses on railway investment and business opportunities.

Railway administrative procedures amended to support investment New railway industry regulations are expected to streamline administrative procedures and boost business and investment activities in the sector.