Start-ups and innovation-driven enterprises: Breakthroughs from four strategic pillars

Amid the ongoing transformation of the Fourth Industrial Revolution, Dong Nai is positioning itself as a hub of innovation in the Southern region. The breakthrough stems not only from the pioneering spirit of young enterprises but is also fuelled by four strategic resolutions of the Party Central Committee: Resolution No. 57-NQ/TW on breakthroughs in science, technology, innovation and national digital transformation; Resolution No. 59-NQ/TW on international integration in the new context; Resolution No. 66-NQ/TW on reforming law-making and enforcement to meet the requirements of development in the new era; and Resolution No. 68-NQ/TW on private sector development.

From policy orientation to implementation, these initiatives are increasingly penetrating business practices, creating a solid springboard for start-ups and innovation in Dong Nai.

Policies pave the way for enterprises to make breakthroughs

The story of AhaMove is a typical example. Starting from a simple idea of connecting drivers and customers via a digital platform in 2015, the enterprise has expanded its network to tens of thousands of drivers and 50,000 customers, maintaining annual growth of 20–30%. Such success is attributed to a gradually improving ecosystem of incentives, which includes policies such as a preferential 10% corporate income tax rate for high-tech enterprises, a 2% annual interest rate subsidy, and Decree No. 38 on investment in innovative start-ups. These “policy locomotives” not only helped the enterprise overcome its fledgling stage but also enhanced operational efficiency and expanded its partner–customer ecosystem.

With a digital transformation-oriented strategy for sustainable growth, Food 52 continuously invests in technological infrastructure to gradually enhance production and business efficiency, aligning with the development of a digital economy and fostering innovation. Photo: Le Duc

Food 52, a pre-processed food chain in Dong Nai, represents another learning curve: a young enterprise that has boldly placed technology at the core of its management and operations.

Founder Do Quang Thinh shared: “We have taken full advantage of numerous State support policies to invest strongly in digital infrastructure. This will undoubtedly create a major boost.”

From standardized processes to scaling up operations, these cases demonstrate that when policies targeting the real bottlenecks, such as capital, digital transformation, and standardization, they can be translated into concrete competitiveness.

Currently, Dong Nai hosts approximately 44,000 active enterprises across various industries, including manufacturing and processing, services, and high technology. Small- and medium-sized enterprises (SMEs) and innovative start-ups account for a growing proportion, emerging as a new growth engine. The private sector contributes an estimated 44–47% of the total investment capital, generates jobs, increases budget revenue, and enhances social welfare. This shift reflects the spirit of “start-up – innovation – integration – breakthrough” within the local business community.

At the institutional level, Dong Nai has been promoting transparency, equality, and modernization of the business environment; expanding the application of e-government and digital administration to reduce direct contact, prevent harassment, and shorten administrative procedures. At the same time, new business models are being encouraged, creative spaces are being broadened, and corporate autonomy is being strengthened.

“Dong Nai does not lack technological and digital talents. Many students from Dong Nai are pursuing technology majors in universities. If the province implements early policies to encourage start-ups, connect universities, enterprises, and authorities, it will secure an abundant and high-quality workforce, creating sustainable competitive advantages. Dong Nai is not lacking potential, but the key to breakthrough lies in the ability to transform human resources into a driving force for development. When the next generation is carefully prepared, the flow of innovation will remain uninterrupted. This serves as the most solid guarantee for the province’s long-term development and self-reliance in an era of fierce global competition.

Associate Professor Dr. Vu Hai Quan, Permanent Deputy Minister of Science and Technology

On the principle of “authorities accompanying enterprises”, various programmes have been delivered to SMEs and start-ups: intellectual property and trademark protection guidance, tax incentives, fee reductions for tech enterprises, management and digital transformation training, and financial support packages covering 30–50% of project or contract values (from 50 million to 1 billion VND per enterprise). These measures are not merely a vital “oxygen”  supply but long-term commitments, enabling the firms to overcome the steep phases of technology investment. On the other hand, Dong Nai has also shifted its development mindset from hard infrastructure and financial incentives to training, attracting, and retaining high-quality human resources, particularly the younger generation.

The province has prioritised high-tech product development, patents, industrial designs, and utility solutions as crucial levers to elevate Vietnamese brands. Many enterprises have received financial assistance with intellectual property registration, thereby gradually strengthening their foothold in both domestic and international markets.

“With government support”: Breakthrough expected

Policies have been made more open, yet the level of digital transformation among enterprises remains uneven. In some cases, implementation has been superficial, limited to isolated stages without proper data connectivity or process restructuring.

Nguyen Thanh Quang, CEO of Tien Phong CDS (Ho Chi Minh City), remarked candidly: "Enterprises are embracing digital transformation, but not all are effective. The challenge is to identify root causes and address them properly."

This is a “systemic issue”. Accordingly, for digital transformation to create value, enterprises must progress from data strategies to process standardisation and business model innovation, rather than merely purchasing disparate software. At the local level, businesses expect regional technical support and technology transfer centers where they can access experts, AI, big data, IoT, and blockchain solutions, as well as mechanisms linking institutes, universities, and enterprises for commercializing inventions.

From the business community’s perspective, Mai Van Hung, Deputy Director of Mai Phuong Informatics Co., Ltd., expressed hopes that Dong Nai will issue additional policies specifically for tech start-ups and digital transformation enterprises, while guiding SMEs to effectively benefit from the four strategic resolutions to form a comprehensive start-up ecosystem.

“We hope that Dong Nai province will adopt additional policies to support technology start-ups and enterprises undergoing digital transformation. At the same time, young businesses should be guided to effectively access support measures under the four-pillar resolutions recently issued by the Politburo. This will help create a strong and comprehensive start-up ecosystem,” Hung added.

Alongside the credit solutions under the four resolutions, several priority policies are flowing towards start-ups and SMEs in their early stages, including 2% annual interest rate subsidies, innovative start-up funds, and credit guarantee funds. These ease liquidity pressures and encourage risk-taking investments.

In recent times, the State Bank of Vietnam has taken practical steps to ease difficulties and expand credit access for the start-up and innovation sector.

According to Nguyen Duc Lenh, Deputy Director of the State Bank of Viet Nam – Region 2 Branch: Currently, start-ups and innovative enterprises can access capital at interest rates not exceeding 5% per year, the lowest in the market, while enjoying measures such as interest rate reductions, debt rescheduling, and loan restructuring. These flexible mechanisms are acting as a “release valve” for financial pressure, providing enterprises with additional time and “oxygen” to recover, restructure, and accelerate development.

"Dong Nai has always regarded the training of high-quality human resources as one of the key factors for sustainable economic development. This is also an issue to which enterprises investing in the province, particularly in industrial zones, attach great importance. It is worth noting that Dong Nai currently has the largest number of industrial parks and clusters nationwide. In the coming period, the province has also been identified as a focal area for industrial zones and clusters. Therefore, we place special emphasis on ensuring a supply of high-quality human resources to meet this target. Dong Nai has a system of universities, colleges, and vocational schools that provide training under specific orders to meet the demand for quality labour. In addition, the province is expanding its urban areas to attract talent from elsewhere.”

Comrade Le Truong Son, Member of the Provincial Standing Party Committee, Vice Chairman of the Dong Nai Provincial People’s Committee

Not only limited to interest rate support, the banking sector is also developing specialised financial services for tech firms and start-ups, including cooperation with credit guarantee funds and venture capital funds to share risks, creating multi-layered, flexible financial mechanisms beyond traditional credit. Credit is no longer a barrier, but a smart support tool, empowering Vietnam's start-up wave to rise strongly in the coming period.

Tech workforce: The “booster engine” that must be started early

It can be seen that the four aforementioned pillar resolutions are not only macro-level orientations but are also being "translated into practice" through financial, legal, and human resources mechanisms, as well as technology transfer.

Besides improving the investment environment and fostering digital transformation, Dong Nai province demonstrates its determination to support enterprises in developing high-tech products and registering intellectual property. The province regards these as critical foundations for sustainable business and long-term competitiveness.

Staff of Mai Phuong Informatics Co., Ltd., attend a training session on applying digital transformation in corporate governance, aiming to enhance internal capacity and adaptability to new technology trends

From the perspective of the “tripod” of institutes-universities-enterprises, Nguyen Van Tan, Chairman of the Dong Nai Innovation and Start-up Advisory Council, noted that the province’s incubation and advisory ecosystem focuses on business mentoring, capacity building, and investor networking; while also offering courses on innovation, governance, and digital marketing, with particular emphasis on restructuring consultancy for SMEs on a technology platform. This soft infrastructure enables firms to advance swiftly and steadily.

At the national level, Vice Chairman of the National Innovation and Start-up Advisory Council Ly Dinh Quan emphasized that AI, big data, blockchain, and IoT are creating vast opportunities for both individuals and enterprises. The competition among start-ups will further drive technological breakthroughs and new growth drivers for Viet Nam’s economy.

He added: “The development and competition among start-ups in the coming period in Vietnam will provide additional momentum, bring new technologies, and open up growth opportunities for the Vietnamese economy. This is something that not only Dong Nai but also other localities across the country must pay close attention to as they step into the new era.”

Appreciating Dong Nai’s vision and strategy in training high-quality human resources, Associate Professor Dr. Vu Hai Quan, Standing Deputy Minister of Science and Technology, stated, “In every industrial revolution, human resources determine development depth. In Industry 4.0, where technology changes by the hour, data is strategic capital, and innovation is survival, investing in high-quality human resources is not an option but a prerequisite for national and local breakthroughs.”

"The development trend in the coming time needs to focus on human investment instead of just focusing on infrastructure, machinery, or technological equipment. Improving the quality of human resources not only helps increase the ability to adapt to rapid changes in technology but also is the foundation to promote applied scientific research programs, creating value for socio-economic development,” Associate Professor Dr. Vu Hai Quan emphasized.

With policies aligned to demand, enterprises willing to innovate, and human resources unlocked at the right moment, Dong Nai has all the conditions to become a dynamic centre for start-ups and innovation in the region. It is a place where pioneering spirit meets enabling institutions to generate breakthroughs for a new growth phase. Supported by favourable policies and the determination of enterprises, Dong Nai is emerging as a vibrant hub of innovation. A new era has begun, and Vietnamese enterprises are embarking on a journey of development with proactivity, resilience, and aspirations to reach even further.

By Le Duc – Translated by My Le, Thu Ha