Editor’s note: Discover Vietnam Tech is a new series where we dive deep into the vibrant and rapidly growing tech and innovation ecosystem of Vietnam. In this collection of interviews and editorials, we will spotlight key players—entrepreneurs, innovators, and thought leaders—who are driving the country’s emergence as a global tech hub.

Through candid conversations with industry leaders, we aim to explore the opportunities, challenges, and breakthroughs shaping Vietnam’s tech landscape. From emerging technologies like AI and blockchain to the nation’s efforts to nurture homegrown talent and innovation, Discover Vietnam Tech will give you exclusive insights into how Vietnam is positioning itself at the forefront of the global technology scene.

Stay tuned as we highlight the voices and visions of those at the heart of Vietnam’s tech revolution, offering a unique window into the country’s potential as a leader in innovation and digital transformation.

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In this featured TNGlobal Q&A with Dr. Tuan Cao, co-founder of Genetica and founder of LIFE AI, offers an in-depth look at Vietnam’s rapidly evolving tech ecosystem. He describes the current landscape as dynamic, full of potential, and relentless in its pursuit of innovation, with the country climbing the ranks in the Global Innovation Index and making strides in areas like AI, blockchain, and digital transformation.

Vietnam’s tech startups, including LIFE AI, are increasingly addressing global challenges, particularly in healthcare. Dr. Cao’s work in genomics and precision medicine exemplifies how emerging technologies are being used to push the boundaries of science, with blockchain providing a new model for decentralized, secure data management.

Dr. Cao also discusses the unique opportunities Vietnam has, particularly its young and adaptable workforce, which is driving innovation in key areas such as AI and blockchain. However, he points out several challenges that could hinder long-term growth, particularly brain drain, as many talented professionals are being recruited by global companies. Addressing this will require stronger efforts from both businesses and the government to nurture and retain local talent.

In addition, Dr. Cao highlights the importance of government support in fostering a thriving startup ecosystem. He emphasized the policies and incentives that are encouraging innovation, particularly in emerging technologies, but notes that gaps in infrastructure and cybersecurity need to be addressed. Vietnam’s digital economy is growing rapidly, with sectors like e-commerce and fintech seeing significant expansion, but further investment in research and development (R&D) is crucial for maintaining global competitiveness.

Looking ahead, Dr. Cao sees Vietnam’s tech sector playing an increasingly important role in the global market, with opportunities for startups to expand internationally. He advocates for more collaboration between government, businesses, and educational institutions to address talent shortages and build an innovation-driven economy. His vision is for Vietnam to not just keep pace but become a leader in emerging technologies, particularly in sectors like AI-driven healthcare and genomics.

As the co-founder and CEO of–or the brain behind–LIFE AI, Dr. Cao leads the biotech company with a pioneering vision: empowering billions to own, use, and benefit from their genetic data. His career prior to LIFE AI includes roles as a Principal Research Scientist at Datometry and a senior position at Google, where he led the overhaul of the Google Adwords reporting engine. Dr. Cao’s academic credentials include a PhD in Computer Science from Cornell University, over ten peer-reviewed scientific publications, and three patents. Beyond his professional life, he is an avid long-distance runner and endurance cyclist, passions that inform his drive and endurance in the biotech sphere.

How do you see the current state of Vietnam’s technology and startup ecosystem? What key trends are driving growth?

As someone deeply immersed in Vietnam’s tech scene, I can confidently say that our ecosystem is in a state of dynamic transformation. If I had to sum it up in three words, I’d say it’s Dynamic, full of Potential, and Relentless in its pursuit of innovation.

Let me break that down for you:

First, the dynamism. Vietnam’s momentum is undeniable. In the Global Innovation Index (GII) 2023, Vietnam ranked 46th out of 132 countries, advancing two spots from the previous year. This places us 4th in Southeast Asia and among the seven middle-income countries that have made the most progress in innovation over the past decade. These are clear indicators of the vibrancy of Vietnam’s tech and startup ecosystem, where growth is constant and ambition is high.

Now, about the potential – it’s immense. Vietnam’s startups are not just local players; they’re addressing global challenges with cutting-edge technologies like AI and blockchain. At LIFE AI, we’re part of this wave. We’re using AI and blockchain to revolutionize healthcare through precision medicine. By decoding genomes and using that data to improve healthcare outcomes, we’re pushing the boundaries of what’s possible.

We’re not alone in this endeavor. Companies like Genetica are doing groundbreaking work in genomics and bioinformatics. What’s particularly exciting is how we’re leveraging blockchain technology to ensure decentralized science—where individuals retain control over their genetic data. This approach fosters trust and transparency while advancing scientific research. It’s a bold new direction for healthcare innovation, combining cutting-edge science with data privacy.

Lastly, the relentless pursuit of innovation. This is something I feel strongly about every day. It’s not just about the resilience of entrepreneurs like us; it’s also about the strong government support for innovation. The government has implemented a range of policies aimed at building a national innovation system, supporting startup hubs, and fostering a culture of entrepreneurship across the country. They’re prioritizing research on key technologies where Vietnam has the potential to lead and breakthrough, such as artificial intelligence (AI), blockchain, and virtual/augmented reality (VR/AR). They’re providing incentives and strong support to startups like us, while also encouraging large and traditional enterprises to apply these technologies in production and commerce. This robust backing is laying a solid foundation for long-term growth and innovation.

As for key trends driving growth, I’d highlight three:

1. Digital transformation: We’re seeing a massive shift across industries. The digital economy grew by 28 percent in 2022, increasing from $18 billion to $23 billion, with a forecasted contribution to 30 percent of GDP by 2030. This creates numerous opportunities for startups like us to provide innovative solutions.
2. Mobile-first approach: With high smartphone penetration, we’re seeing rapid changes in consumer behavior. This is driving growth in sectors like e-commerce and fintech, and it’s influencing how we develop our products at LIFE AI.
3. Emerging technologies: As I mentioned earlier, AI, blockchain, and VR/AR are hot areas that the government is prioritizing. The AI market in Vietnam is particularly exciting. It was valued at $82.4 million in 2022 and is expected to reach $299.7 million by 2032, growing at a CAGR of 13.8 percent during the forecast period from 2023 to 2032. This remarkable growth projection underscores the immense potential and increasing adoption of AI technologies across various sectors in Vietnam.

In conclusion, what really excites me is the combination of market dynamism, entrepreneurial potential, and relentless support from both the government and local investors. This trifecta is creating a unique ecosystem where innovation can thrive. Vietnam’s tech scene is no longer just about low-cost outsourcing. We’re building world-class products and solutions. At LIFE AI, we’re proud to be part of this transformation, contributing to Vietnam’s emergence as a significant player in the global tech landscape.

What are the unique opportunities and challenges that Vietnam’s tech sector faces compared to other Southeast Asian countries?

Navigating Vietnam’s tech future: View on opportunities and challenges

As someone who has been deeply involved in Vietnam’s tech ecosystem, I want to share my thoughts on the unique opportunities and challenges we face compared to other Southeast Asian countries. While the potential for growth is immense, what I’d like to emphasize most is the human factor. Vietnam is a country with a young, dynamic workforce. Our engineers are not just skilled, but they are quick to adapt to new technologies and solve real-world problems. This is one of the biggest differentiators I see in our tech community, especially among the younger generation.

With emerging technologies like blockchain and Web3, Vietnam remains a bright spot on the global map. Many Vietnamese-developed products are now being embraced by the world, and numerous startups originating from Vietnam are pioneering new and exciting fields. This ability to innovate and disrupt at a global level sets Vietnam apart, and it’s something we can all take pride in.

However, brain drain continues to be a significant challenge for our tech and startup ecosystem. While we’ve seen many tech talents from around the world return to Vietnam to contribute to its development, a considerable number of young professionals are being recruited by global corporations. This poses a serious challenge to the long-term sustainability of our tech sector. How do we nurture and retain talent? This is a long-term puzzle that businesses and the government must solve together.

Opportunities:

1. Young, tech-savvy workforce: One of Vietnam’s greatest assets is its young population, with a median age of around 32 years. Over 70 percent of the population is connected to the internet, and smartphone adoption is widespread. This generation of engineers, especially, is highly adaptive. They don’t just learn new technologies—they master them quickly and apply them to address local and global challenges. I see this most clearly in areas like blockchain and AI, where young Vietnamese professionals are leading the charge. It’s this speed of adoption and practical application that sets Vietnam apart in the global tech scene.
2. Competitive labor costs: Compared to other tech hubs in Southeast Asia, Vietnam’s labor costs are incredibly competitive. According to JLL’s 2023 report, the average salary for a software developer in Vietnam is approximately $18,000 per year, far lower than the $40,000 to $60,000 per year in Singapore. This makes Vietnam an attractive destination for outsourcing and tech investments, and we’re seeing more and more foreign tech companies setting up shop here to take advantage of this cost-efficiency.
3. Booming digital economy: Vietnam’s digital economy is growing at a remarkable pace. A recent report from Google, Temasek, and Bain (2022) predicts that our digital economy will reach $49 billion by 2025, with a growth rate of 29 percent annually. This growth is driven by strong demand in sectors like e-commerce, fintech, and digital payments. With a growing middle class and increased internet penetration, Vietnam is on track to be a leading digital economy in the region.
4. Government support for innovation: The Vietnamese government has shown its commitment to supporting innovation through programs like the “National Innovation Network.” These initiatives foster an environment where startups can thrive, and they position Vietnam as a future leader in AI, blockchain, and fintech. I’m confident that with continued government backing, Vietnam will remain a competitive player in Southeast Asia’s tech landscape.

Challenges:

1. Infrastructure gaps: While Vietnam is making great strides in tech development, we still face challenges when it comes to infrastructure. Internet speed, for instance, is an area that needs improvement. According to Ookla’s Speedtest Global Index (2023), Vietnam ranks 60th in the world for internet speed, which puts us behind regional leaders like Singapore and Malaysia. For us to fully capitalize on our tech talent and digital economy, this gap in infrastructure must be addressed.
2. Talent shortage and brain drain: One of the biggest challenges we face is retaining talent. As much as we have a highly skilled tech workforce, we’re struggling to keep our best and brightest here at home. According to Navigos Group (2023), 70 percent of IT companies in Vietnam report difficulties in recruiting talent in key fields like AI, blockchain, and cybersecurity. More concerning is the issue of brain drain—many young tech professionals are being headhunted by global tech giants. As a country, we need to ask ourselves: How do we not only attract talent but keep them here to continue contributing to Vietnam’s growth?
3. Cybersecurity threats: As our digital economy expands, so too does the risk of cybersecurity breaches. Vietnam has seen a significant rise in cyberattacks, with over 52 million recorded in the first half of 2023 alone. This makes us one of the top targets in Southeast Asia. For businesses and the government, cybersecurity must become a top priority if we are to protect the gains we’ve made in our digital economy.
4. Fragmented startup ecosystem: Finally, while we have a vibrant startup ecosystem, it remains somewhat fragmented. We lack the strong venture capital networks and collaborative ecosystems seen in places like Singapore and Indonesia. To compete at the same level, we need more cooperation between large tech companies, startups, and investors. This will help create a more cohesive and supportive environment for innovation.

Looking ahead:

Vietnam’s tech sector is filled with immense opportunities. We have a young, talented workforce and a rapidly growing digital economy, but we must also address critical challenges like brain drain, infrastructure gaps, and cybersecurity. For Vietnam to fully realize its potential, it will take collaboration between businesses, the government, and the tech community. We’ve already proven that we can innovate and lead in emerging technologies; now it’s about creating the right environment to retain our talent and sustain our growth.

What inspired you to start Genetica, and how does it address specific needs in Vietnam’s tech ecosystem?

The inspiration behind founding Genetica came from a blend of my personal passion for technology and a clear need I saw in Vietnam’s healthcare and tech ecosystems. After spending years in the U.S. working with global tech giants like Google and leading research projects, I realized that the potential of genetic technology in improving people’s health was immense, but Southeast Asia—especially Vietnam—was largely underserved in this space. I was driven by the idea of empowering individuals to understand their genetic makeup and apply that knowledge to improve their well-being and health outcomes.

In particular, Vietnam’s tech ecosystem is growing fast, but there were two critical gaps I aimed to address with Genetica:

1. Localized genetic insights: One major issue was that most available genetic solutions were designed for Western populations, which have significantly different genetic makeups compared to Asians. Vietnam, and Southeast Asia as a whole, needed more localized genetic solutions to provide accurate insights and health recommendations. Genetica focuses on using AI-powered genetic decoding tailored to the specific genetic characteristics of the Asian population. This enables us to offer precise and actionable recommendations that are relevant to the health challenges and opportunities faced by individuals in this region.
2. Bridging technology and htealthcare: While Vietnam’s tech sector has rapidly advanced in areas like e-commerce and fintech, the intersection of technology and healthcare remained underdeveloped. Genetica sits at this crucial juncture, combining advanced AI technology with cutting-edge genetic science to deliver personalized health insights. This addresses a growing demand for personalized healthcare in Vietnam, where people are becoming more health-conscious but lack access to genetic tools that are tailored to their unique needs.

However, as I continued working in this space, I realized that it wasn’t just about genetics—it was also about how we can use AI and blockchain to unlock new possibilities for precision healthcare and data sovereignty. This is what led to the creation of LIFE AI, which complements the mission of Genetica by focusing on a broader vision. LIFE AI goes beyond individual genetic insights and looks at how we can give people control over their own genomic data in a secure and transparent way using blockchain. It allows individuals to own and leverage their genetic data for research, healthcare, and personal applications, all while maintaining full privacy.

With LIFE AI, we are addressing the need for a decentralized and ethical approach to data management in Vietnam’s tech ecosystem. We want to ensure that Vietnamese individuals—and the wider Southeast Asian population—can benefit from world-class technologies that protect their data rights, while also unlocking new innovations in precision medicine and personalized healthcare. Both Genetica and LIFE AI serve as vital pillars in Vietnam’s broader tech-driven healthcare revolution, creating solutions that are not only cutting-edge but also rooted in the specific needs of our region.

How would you describe the regulatory environment for startups in Vietnam? Are there specific regulations that have significantly impacted your operations?

This is a complex question. On one hand, as I mentioned earlier, Vietnam is fostering a more open environment for startups, creating many opportunities for innovation and growth. However, the reality is that there are still challenges that need to be addressed. The legal framework for innovation is still developing—it’s not yet complete and sometimes there are overlapping regulations that can make navigating compliance tricky.

That said, based on our experience at Genetica, we have found that government agencies are generally open and willing to help with these challenges, as long as the operations align with the existing legal framework. The authorities are supportive and show a readiness to resolve bottlenecks for businesses like ours, which is incredibly encouraging for startups operating in a rapidly evolving space. Being in a developing regulatory environment is both an opportunity and a challenge. It really depends on the stage of growth and the adaptability of the business to navigate these complexities.

For example, data privacy and security regulations have had a significant impact on us. Vietnam’s Law on Cybersecurity requires sensitive data, like the genetic data we handle, to be stored locally. While this adds operational complexity, the government’s focus on data security is a positive sign of its commitment to protecting users, and it has allowed us to stay ahead of the curve in terms of compliance. Additionally, we’ve had to ensure that our systems meet both local and international standards, especially given that 87 percent of tech companies in Vietnam report concerns over regulatory uncertainties in data compliance (Navigos Group, 2023).

In terms of blockchain technology, which we use extensively at LIFE AI for securing genomic data, the regulatory environment is still in its early stages. Vietnam ranks first globally in cryptocurrency adoption (Chainalysis, 2023), yet there is no clear legal framework governing this space. The lack of specific regulations gives us the flexibility to innovate, but it also requires us to be cautious, ensuring we comply with broader laws while preparing for future developments in blockchain governance. It’s a double-edged sword, where the ambiguity presents both risks and room for innovation.

When it comes to investment and funding, Vietnam has made great progress in attracting foreign direct investment (FDI), which reached $27.72 billion in 2022 (Vietnam General Statistics Office, 2023). However, the administrative processes can sometimes be cumbersome, especially for fast-growing tech companies that need quick access to international capital. This is an area where the government is working to streamline procedures, but the bureaucratic hurdles still exist, particularly in intellectual property registration.

The fact that Genetica has been in Vietnam for over five years, and continues to grow, is in itself a clear testament to the country’s improving regulatory landscape. We’ve navigated these challenges and have continued to thrive, which shows that while the environment is not without its difficulties, it is certainly possible to succeed with the right approach. Being part of a developing ecosystem requires agility and persistence, but it also offers immense potential for growth, especially for businesses that can adapt quickly.

In conclusion, while there are challenges in Vietnam’s regulatory environment—such as overlapping regulations and uncertainties in emerging technologies—the overall trend is positive. The government’s commitment to supporting startups and open dialogue with the private sector creates a favorable foundation for businesses like ours to succeed.

References:

• Vietnam Ministry of Public Security. (2019). Law on Cybersecurity.
• Navigos Group. (2023). Report on Data Privacy and Cybersecurity in Vietnam’s Tech Sector.
• Chainalysis. (2023). Cryptocurrency Global Adoption Index.
• Vietnam General Statistics Office. (2023). Foreign Direct Investment Statistics.

How can the Vietnam government better support the tech industry, particularly in terms of innovation and international competitiveness?

This is an important and timely question. Vietnam has made significant progress in nurturing a tech ecosystem that’s dynamic and growing. But if we want to compete globally, there’s no room for complacency. The groundwork is laid, but what’s needed now is a strategic push to close the gaps in critical areas, allowing Vietnam to move from being a regional player to a global tech leader.

From my perspective, having navigated the Vietnamese tech landscape for the past five years with Genetica and LIFE AI, I believe the government’s role is pivotal—not just in terms of providing support, but in accelerating systemic change where it’s most needed.

1. Streamline regulations and cut bureaucracy—speed is everything

Regulatory reform is the linchpin of progress. The global tech industry moves fast, and slow, cumbersome processes can stifle innovation. While the government has done a good job promoting foreign investment—$27.72 billion in FDI in 2022 (Vietnam General Statistics Office, 2023)—the reality is that the bureaucratic maze surrounding things like IP registration or cross-border investments can create friction, especially for fast-growing tech companies. We simply cannot afford to have startups bogged down by red tape when the tech world is moving at lightning speed.

If Vietnam wants to retain its competitive edge, we need clearer, faster pathways for tech companies to operate and expand. A fast-track process for innovative startups, particularly those working in AI, blockchain, and biotech, should be introduced to make it easier for companies to get off the ground and scale internationally. Being first to market is a key advantage, and every day of regulatory delay costs potential revenue and innovation.

2. Talent is the lifeblood of innovation – and we’re losing it

One of Vietnam’s greatest strengths is its young, ambitious workforce. But as it stands, we’re not doing enough to retain this talent. The brain drain is real—70% of IT companies in Vietnam report significant challenges in hiring skilled professionals, especially in advanced tech fields like AI and blockchain (Navigos Group, 2023). What’s more concerning is that many of our brightest minds are leaving for better opportunities abroad, attracted by more competitive salaries and advanced research environments.

The government must be proactive in addressing this. It’s not just about creating opportunities—it’s about making those opportunities too good to refuse. Offering attractive salary packages, research grants, and global collaboration opportunities can keep talent in Vietnam, where they are needed most. Additionally, public-private partnerships between universities and tech companies are crucial in training the next generation of specialists in AI, cybersecurity, and data science. Without a skilled workforce, Vietnam’s tech industry will struggle to keep pace with global competitors.

3. Build innovation hubs beyond major cities – make innovation inclusive

Right now, most of the country’s innovation efforts are concentrated in Hanoi, Ho Chi Minh City, and Danang. While these cities are thriving, Vietnam’s long-term growth depends on spreading this innovation more broadly across the country. The National Innovation Center is a great start, but we need to think bigger. Creating regional tech hubs and incubators in other cities would ensure that innovation isn’t concentrated in just a few areas, but is accessible to everyone. The country’s 44th position in the Global Innovation Index is impressive (World Intellectual Property Organization, 2023), but we can aim higher by fostering inclusive growth in all regions.

This also ties into digital infrastructure. Expanding high-speed internet access in rural areas would allow startups in these regions to thrive and contribute to the country’s overall growth. It’s not just about giving everyone the tools they need to succeed—it’s about creating a nationwide ecosystem that is resilient and diversified.

4. R&D is non-negotiable – Vietnam must invest more

Research and Development (R&D) is the backbone of tech innovation. Countries like South Korea and Singapore have understood this for years, investing heavily in R&D and reaping the rewards with booming tech sectors. For Vietnam, the government needs to supercharge its R&D funding. Currently, R&D spending in Vietnam is relatively low compared to other nations. If we want to be competitive, there’s no other option but to increase R&D funding, particularly in emerging areas like AI, machine learning, and biotech.

In my experience at Genetica and LIFE AI, investing in R&D has been essential for our growth. It’s allowed us to develop cutting-edge solutions that cater specifically to the needs of the Vietnamese and Southeast Asian markets, while also positioning us as global players. Imagine what the entire tech ecosystem could achieve if more companies had access to similar funding and resources.

In addition, strengthening IP protection will encourage local innovators to take bigger risks, knowing their inventions are safeguarded. Robust IP laws also attract foreign R&D investments, something that will be key for Vietnam’s growth in the coming years.

5. International collaboration – Vietnam needs to be a tech leader, not just a player

Vietnam has the potential to be a global tech leader, not just a regional player. To do this, the government should actively promote international collaboration. Vietnam is already making waves with blockchain and Web3 technologies, top ranking third globally in the 2023 Cryptocurrency Global Adoption Index (Chainalysis, 2023). Now is the time to build on that momentum by creating bilateral agreements with leading tech nations like the U.S., Japan, and Europe.

Encouraging tech exchanges and collaborative R&D projects with global institutions would elevate Vietnam’s standing on the world stage. Being part of these global networks will help Vietnam stay ahead in key industries like blockchain, AI, and precision healthcare.

Conclusion: Aim higher, move faster

Vietnam has the potential to be a world-class tech hub, but realizing this vision will require a sharp focus on the fundamentals: clear regulations, talent retention, R&D investment, and global collaboration. The groundwork is there, but now is the time for bold actions. As someone who has seen firsthand the challenges and opportunities that exist in Vietnam’s tech ecosystem, I believe the government has a crucial role to play in accelerating growth. The question isn’t whether Vietnam can become a global tech leader the question is, how fast can we get there?

References:

1. Vietnam General Statistics Office. (2023). Foreign Direct Investment Statistics.
2. Navigos Group. (2023). Report on Vietnam IT Talent Market.
3. World Intellectual Property Organization. (2023). Global Innovation Index 2023.
4. Chainalysis. (2023). Cryptocurrency Global Adoption Index.

What is your perspective on the current funding landscape for startups in Vietnam? Are there sufficient resources available for early-stage versus growth-stage companies?

The funding landscape for startups in Vietnam has improved considerably, with more early-stage funding options than ever before. Local and international VCs are starting to recognize Vietnam’s potential, with $1.4 billion in startup funding in 2022 alone (Nikkei Asia, 2023). However, the challenge lies in growth-stage funding. There’s a noticeable gap when it comes to Series B and C rounds, which forces many startups to seek capital outside of Vietnam. The resources are there for early-stage companies, but growth-stage startups often hit a ceiling unless they relocate to Singapore or other financial hubs to access larger pools of capital.

What advice would you give to Vietnamese startups looking to secure funding from local or international VCs?

For Vietnamese startups, my advice is simple: think globally from day one. International VCs want to see that your product isn’t just a local solution—it needs to be scalable across borders. Additionally, build relationships early with VCs. Don’t wait until you need funding to make those connections; get involved in the ecosystem and show up at industry events. Finally, be transparent about your challenges—VCs appreciate founders who understand both their strengths and their risks.

How important is R&D in driving innovation in Vietnam’s tech sector? Are there any government or private initiatives that effectively support this?

R&D is essential for Vietnam’s tech sector to remain competitive globally, but our R&D investment is still low—about 0.53 percent of GDP (World Bank, 2023). If Vietnam wants to leap forward, we need more focus on cutting-edge research in fields like AI, biotech, and blockchain. While initiatives like the National Innovation Center are a great start, we need stronger public-private partnerships and more incentives for tech companies to invest in long-term research.

At Genetica, R&D has been the backbone of our success. Developing localized genetic insights for Southeast Asia required significant R&D investment, but it’s what allowed us to offer something truly unique. For Vietnam, the future of innovation lies in doubling down on R&D, strengthening IP protection, and ensuring that local innovators have the resources and confidence to take risks.

How can Vietnam enhance its position as a hub for tech innovation in Southeast Asia?

In my opinion, the combination of Western technology and emerging Asian markets, especially Vietnam, holds great potential for breakthrough innovation. While the deep tech was original invested in the West, such as the US or Europe, it is the Vietnamese engineers and product builders that utilize the technology to build world-class products, first to the 100 million users in Vietnam and then expand to almost a 1 billion users in the APAC region. Axie is one of such examples and I believe LIFE AI may follow the path.

How do you see the role of AI and machine learning evolving in Vietnam, particularly in the context of the products or services Genetica offers?

The role of AI and machine learning (ML) in Vietnam is evolving at an impressive pace, and in my opinion, AI is no longer just an emerging trend—it’s a fundamental driver of innovation. Vietnam is on the cusp of a major AI revolution, with the market projected to grow by 20% annually and contribute up to $12 billion to the economy by 2030 (Vietnam Ministry of Planning and Investment, 2023). While industries like fintech and e-commerce are seeing early adoption, I believe healthcare, particularly precision medicine, will be where AI has the most transformative impact.

At Genetica, we’ve placed AI and ML at the heart of everything we do. Our goal isn’t just to provide genetic testing, but to deliver personalized health insights that can truly change lives, especially in Southeast Asia, where genomic research is still in its infancy. The challenge we face is that most genetic data and algorithms are tailored to Western populations, making them less relevant and often inaccurate for our region. By leveraging AI, we’re able to break that barrier and provide far more localized, accurate insights.

For instance, our AI algorithms process over 15 petabytes of genetic data, allowing us to refine predictions and deliver actionable health recommendations that are relevant to the unique genetic variations of the Southeast Asian population. This is something I’m particularly proud of – we’ve reduced the margin of error by 30% compared to traditional methods that don’t account for local diversity. In my view, this is what AI should be used for—not just automating tasks, but solving complex, region-specific problems that would otherwise go unanswered.

Looking forward, I see AI and ML driving a paradigm shift in precision healthcare across Vietnam. The government’s push to make Vietnam an AI leader in Southeast Asia will create fertile ground for AI-powered healthtech solutions. From early disease detection to personalized treatment plans, AI will allow us to manage healthcare at an unprecedented level of precision. In particular, personalized medicine, driven by genomics, will become increasingly essential as we move from a one-size-fits-all approach to healthcare, to one where treatments are tailored to an individual’s specific genetic makeup.

In my opinion, Vietnam is perfectly positioned to capitalize on this AI revolution, but it requires bold moves. More investment in AI research, better public-private collaboration, and fostering local AI talent will be critical to ensuring we can lead this transformation. Genetica is continuously pushing the boundaries of what’s possible with AI in genomics, but there’s still untapped potential in Vietnam’s AI ecosystem that, with the right support, could propel us onto the global stage.

To me, AI isn’t just a tool – it’s the key to unlocking the future of healthcare in Vietnam. If we keep building on this momentum, I’m confident that Vietnam could soon become a global hub for AI-driven innovation, especially in sectors like genomics and precision medicine. It’s a matter of staying ahead, embracing the power of AI, and having the ambition to lead.

What strategies do you recommend for Vietnamese startups expanding into international markets?

For Vietnamese startups, regional expansion in Southeast Asia is the smartest first step. Don’t rush into global markets – build a foundation where regulatory and cultural similarities exist. I also believe  Decentralized Science (DeSci) offers a game-changing model. By tapping into decentralized research networks, startups can disrupt traditional models and access global collaboration faster. Building a global team early is critical for navigating international markets with confidence.

How do global market trends (e.g., AI, fintech, e-commerce, Decentralized Science) influence your decision-making and strategic planning in Vietnam?

Global trends shape everything we do at Genetica. AI is driving our mission for precision healthcare, while DeSci is revolutionizing how we think about R&D – making it more decentralized and collaborative. Blockchain and DeFi influence how we secure genomic data, and global e-commerce trends push us to deliver a seamless digital experience. These trends aren’t just influences – they’re imperatives to stay agile and innovative in Vietnam’s fast-growing tech sector.

What are the key challenges in finding and retaining tech talent in Vietnam? How does the local education system align with the needs of the tech industry?

What concerning is the brain drain. The best talent isn’t staying in Vietnam – they’re being lured away by higher salaries and more advanced opportunities abroad. If we don’t aggressively address this, Vietnam risks falling behind in the global tech race. Local startups are struggling to compete with international tech giants, not just in terms of pay, but in offering challenging and innovative work environments that inspire talent to stay.

We need public-private partnerships that bring universities and tech companies together to reshape curricula and offer real-world training. This isn’t just about filling seats in classrooms – it’s about creating a pipeline of highly skilled professionals who can meet the demands of a rapidly evolving tech landscape.

In my view, Vietnam’s tech future hinges on nurturing and retaining talent. If we don’t close this gap, we’ll lose our competitive edge.

What initiatives or changes would you like to see in education or vocational training to better support the tech ecosystem?

I’d love to see tech companies working directly with universities to shape curricula and provide real-world experience through internships and mentorships.

We also need to focus on upskilling the current workforce. Tech moves so quickly that even experienced professionals need continuous learning in areas like AI and cybersecurity. On top of that, entrepreneurship training is key – teaching students not just how to code but how to build businesses.

Finally, let’s make learning more flexible. Online, on-demand platforms can democratize education, making tech skills accessible to anyone, anywhere. If we make these changes, we can truly prepare Vietnam to be a global tech leader.

How do you incorporate sustainability and social impact into your business or investment strategies? Is this becoming a priority in Vietnam’s tech industry?

At Genetica, sustainability and social impact are core to our mission. In Vietnam, the digital transformation is rapidly changing society, and we’re leveraging AI-driven genetic testing to contribute to this progress. For example, during Covid-19, we developed tools to identify people with genetic risks for severe complications, helping prioritize vaccine distribution and enabling at-risk individuals to take preventive measures. This kind of personalized healthcare is creating long-term benefits for both individuals and society.

While sustainability is gaining attention in Vietnam’s tech sector, it’s still secondary for many companies. I believe those that balance innovation with social responsibility will be the true leaders.

What role can technology play in addressing social issues in Vietnam, such as rural development, healthcare, or education?

Technology plays a pivotal role in addressing key social issues in Vietnam. In healthcare, tools like genetic decoding help doctors deliver personalized treatments and prioritize high-risk patients, while also aiding in nutrition and disease prevention. In education, digital platforms can bring quality learning to rural areas, leveling the playing field for all students. Ultimately, tech is driving sustainable change across society, and the impact will only grow as we push these solutions further.