CIOTech Outlook Team | Tuesday, 01 July 2025, 07:06 IST
The Vietnamese government has launched the National Data Development Fund with an initial capital of VND1 trillion to enhance digital infrastructure and advance data governance. Operating under Decree No.160/2025/ND-CP as a non-budget state financial fund, this non-profit entity is managed by the Ministry of Public Security.
It is authorized to maintain an official seal and operate accounts at the State Treasury and legally recognized commercial banks in Vietnam.
The fund is set to enhance digital transformation, especially in rural, mountainous, and socio-economically disadvantaged areas. The area of activity includes the provision of assistance in the formation and implementation of high technologies like artificial intelligence, big data, machine learning, cloud computing, blockchain, and the Internet of Things.
These efforts are geared toward serving state management, national interests, public welfare, and socio-economic development.
In addition to technological advancements, the fund will allocate resources to scientific research, technological innovation, and data-related activities. It will foster the growth of a network comprising experts, scientists, technology organizations, and data associations, both within Vietnam and globally.
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The fund will also prioritize the development and application of critical data, core data, and information related to national defense, security, and foreign affairs.
Beyond state budget allocations, the fund will generate revenue through lending interest, deposit interest, sponsorships, aid contributions, donations, and other legally permitted sources. The decree has specific guidelines on the receipt, handling, and use of sponsorships, aid, trust funds, and donations. Contributions can be made in the form of money through cash or bank transfer.
Non-monetary contributions, such as physical assets, will be processed based on agreements with contributors, with proper documentation maintained. Trust fund arrangements require trustees to transfer VND or foreign currencies through the fund’s bank accounts.
