Following a multi-year funding winter, Vietnam’s tech ecosystem is undergoing a flight to quality, driven by high talent density, disciplined unit economics, and a “Vietnam+” playbook where startups leverage local engineering talent to build for global markets.

According to Vietnam-based venture capital firm Ascend Vietnam Ventures (AVV), early-stage funding remains robust—particularly across agentic AI, enterprise SaaS, and a surprisingly world-dominant gaming sector—while growth-stage capital remains thin due to onshore fund vehicle gaps and exit-tax hurdles under current regulations.