In an era where the speed of change outpaces the speed of adaptation, innovation is no longer optional – it’s a matter of survival. Once-dominant brands like Kodak, Yahoo, and BlackBerry didn’t fail because they lacked resources, but because they failed to innovate in time.
When Innovation Becomes the Lifeline of Business
According to Fortune, more than 52% of the world’s top 500 companies disappeared between 2000 and 2018 — the period that saw the rise of fintech and digital transformation.
From 2018 to 2025, the companies that survived share one thing in common: They have a clear digital strategy and a continuous innovation capability.
Today, only 25% of global companies can actually measure ROI from applying AI and data – the rest are stuck in halfway digital transformations. These numbers are a wake-up call: those who fail to innovate risk being left behind faster than ever.
Vietnam on the Global Innovation Map
Vietnam is standing at a pivotal moment for innovation.
Since 2023, the government has introduced key initiatives such as sandbox regulations for banking, a policy framework for digital assets, and a strategy for digital economy growth to reach 30% of GDP by 2030.
These efforts are reinforced by the Party’s “Four Strategic Resolutions”, which form the foundation for a more innovative and globally integrated Vietnam:
- Resolution 57-NQ/TW – Developing science, technology, and innovation as a key driver for sustainable growth.
- Resolution 59-NQ/TW – Deepening global integration, especially in science, technology, and digital transformation.
- Resolution 66-NQ/TW – Reforming legal frameworks to build transparent, innovation-friendly institutions.
- Resolution 68-NQ/TW – Promoting the private sector as a key engine of economic growth.
These policies open the door for Vietnamese enterprises to experiment with emerging technologies and position Vietnam as a rising innovation hub in Asia.
At the enterprise level, digital transformation and business model innovation are taking shape. In Ho Chi Minh City, 24 companies recognized as “Golden Brands – Seed Brands” already have clear digital strategies, contributing over 15% of the city’s GRDP — a strong proof of innovation’s impact.
However, according to IBM, only 10% of the added value of Vietnamese enterprises comes from innovation — far below the 20–30% regional average.
This gap is both a challenge and an opportunity for those ready to move first.
Four Tipping Points for Vietnam’s Innovation Leap
- Technology Opportunities: The rise of AI, Blockchain, and Open Data is reshaping how businesses create value — turning technology from an operational tool into a digital asset and a real source of growth.
- Market Expansion: With more than 20 Free Trade Agreements (FTAs) signed, Vietnamese enterprises now have unprecedented access to global markets, technology, and know-how — accelerating integration into the world’s innovation value chain.
- Shift from West to East: The success of Alibaba, Baidu, Xiaomi, and Grab shows that Asia is becoming the new innovation hub, where Vietnam can develop homegrown solutions instead of merely importing technology.
- Institutional Reform: Policies such as regulatory sandboxes and resolutions supporting private-sector innovation are creating policy laboratories — controlled environments where businesses can test, fail, and learn safely, paving the way for real innovation.
Innovation is More Than Technology
Many still believe that innovation simply means adopting new technologies. In reality, innovation begins with mindset, not tools or software.
A truly transformative innovation strategy rests on three interconnected layers:
- Mindset – The strategic willingness to rethink, adapt, and challenge the status quo.
- Model – Redesigning business processes, products, and value chains for higher efficiency.
- Technology & Data – Leveraging technology as a catalyst to amplify innovation capabilities.
When these three layers align, businesses can shift from a Cost Center to a Profit Center — where innovation, data, and technology become core profit drivers, not expenses.
Turning Innovation into Real Impact with IBP
Recognizing that innovation is not just about technology but a system of thinking, doing, and growing — IBP, together with experts, has developed the Enterprise & Leadership Innovation Solutions Package.
This program helps organizations apply AI and innovation practically and sustainably through:
- Designing and testing innovation models in a controlled environment.
- Using data and technology to optimize operations, marketing, and product development.
- Building long-term innovation capabilities for both leaders and organizations.
