Vietnam has been among the top 10 countries in terms of cross-border data transfer in the past decade (Photo: vneconomy.vn)
Hanoi (VNA) -🌌 Vietnam has been among the top 10 countries in terms of cross-border data transfer in the past decade.
Head of the Institute for Policy Studies and Media Development (IPS) Nguyen Quang Dong cited data from Nikkei Asia financial newspaper in a recent webinar focusing on cross-border data transfer and privacy protection held by the IPS as saying
The event aimed to find measures to protect users’ data safety and privacy without affecting the flow of data, deemed an artery of the digital economy.
The flow benefits the development of international trade as part of the global economy, but also poses challenges to Vietnam in terms of policies.
Therefore, seeking a suitable pathway is key to the country’s digital economy development.
The top 10 rankings in the past decade (Photo: vneconomy.vn)
Digital economy surged to 14 billion USD last year from just 3 million USD recorded in 2015, according to President of the Vietnam Digital Communications Association Nguyen Minh Hong. The figure is forecast to hit 52 billion USD by 2025.
Balance between data exchange, including personal and cross-border data, and privacy protection in a bid to strengthen users’ trust, is among the topics for building policies in Vietnam.
In the absence of protection mechanisms, the risks of data abuse will be tremendous for users, communities and countries, said Hong, who is also the former Deputy Minister of Information and Communications.
Vietnam’s building of legal regulations on cross-border data transfer are still in the initial phase, experts said.
The country should work to realise the twin targets of promoting the free flow of data for digital economy development, and ensuring safety and privacy for users, Dong said, adding supplementary measures should also be considered in the sector./.
With the pandemic showing little signs of slowing and as countries around the world shift away from the traditional economy, Asia has an opportunity to consider building a more integrated digital economy and to promote digital trade and a common digital currency.
World Bank (WB) Lead Economist and Programme Leader for Vietnam Jaques Morriset has pointed out solutions to turn the Southeast Asian nation into a digital powerhouse.
The Ministry of Planning and Investment has said that it is coordinating with relevant ministries, agencies and localities to build a national economic restructuring plan for the 2021-2025 period, with an aim to creating a breakthrough change in the growth model towards higher productivity, quality and competitiveness.
Vietnam will need to do more if it wants to become a digital powerhouse as envisioned in the socio-economic development strategy adopted by the Party in February 2021, said a report of the World Bank.
With the government's strong direction and active participation from businesses and citizens, national digital transformation is deepening, with a focus on building a digital government, economy, and society.
VietNEST (Vietnamese Nurturing Education for Science & Traditions) is a mobile app and digital platform for Vietnamese language learning among overseas children.
The networks bring together universities, research institutes and domestic and foreign businesses. Members will work closely in training, research, and technology transfer by sharing curricula, improving faculty capacity, providing access to laboratories and research facilities, and jointly implementing science and technology projects.
The Better Choice Awards (BCA) 2025 is a key highlight in the lead-up to Vietnam Innovation Day that falls on October 1, an annual event expected to attract hundreds of innovative enterprises, research institutions, investment funds, and startups from both Vietnam and abroad.
The new line serves as a critical backup route, strategically complementing existing submarine cables and enhancing the resilience, proactivity, and security of Vietnam’s telecommunications infrastructure.
Vietnam is actively yet cautiously preparing for the construction of its first nuclear power plant in Ninh Thuan (now the south-central coastal province of Khanh Hoa). The resumption of the programme after years of suspension carries considerable significance for the nation’s development in a new era as it strives to gradually reduce and ultimately phase out coal-fired power to realise the Government’s commitment to Net Zero by 2050.
The government leader reaffirmed Vietnam’s goal of achieving self-reliance in the design, manufacturing, and test of necessary semiconductor chips by no later than 2027.
With the launching of its two-tier local administration model, the city is incorporating technologies such as artificial intelligence (AI) and blockchain to enhance service delivery for citizens and businesses, aligning with the Politburo’s Resolution 57-NQ/TW on breakthroughs in science, technology, innovation, and national digital transformation.
Vietnam has issued many key policies to support semiconductor development, notably the Politburo’s Resolution 57 on science, technology, innovation, and digital transformation. Other initiatives include the Semiconductor Industry Development Strategy to 2030, with a vision to 2050, and the Human Resources Development Programme for the Semiconductor Industry.
Vietnam is no longer just an emerging blockchain market, it is stepping into a leadership role, with global investors, developers, and experts recognising its growing potential to become a leading hub for digital assets in the region.
Taking place on August 1–2, the event features more than 20,000 attendees and over 200 speakers from Vietnam, the h Korea, Singapore, the UAE, Hong Kong (China) and the US.
Dung directed the Ministry of Science and Technology to revise the national startup scheme, ensuring it clearly defines the scope and content, grounded on strong political and legal foundations, international best practices, and well-reasoned arguments for submission to the Government.
The two-day academic forum, themed “Resilience, Sustainability & Digital Transformation in a Changing World: Perspectives from Southeast Asia”, aims to share interdisciplinary research insights, focusing on adaptive capacity, sustainable development, and digital transformation amid evolving global and regional landscapes.
With such a rapid economic growth, Vietnam must diversify energy sources and nuclear power is a rational choice to ensure the national energy security, said Associate Professor Kei Koga from the Nanyang Technological University (Singapore).
Deputy Prime Minister Nguyen Chi Dung emphasised that Vietnam has a clear strategy and ambition in this field, and is rapidly emerging as a central hub and key link in the regional and global semiconductor value chains.
According to Cushman & Wakefield’s latest Asia-Pacific Data Centre Investment Landscape report, Vietnam now ranks second in the region for data centre investment returns, with a yield on cost (YoC) of 17.5–18.8%, just behind Singapore’s 21–23%.
Vietnam is taking drastic yet cautious steps in building a culture of nuclear safety and security, with the aim of having its first nuclear power plant operational by the end of 2030 and using this specific energy source effectively and sustainably.
Vietnam’s 5G strategy has been clearly outlined in national digital technology and infrastructure policies. A wide range of solutions is being vigorously implemented to achieve the target of an average internet speed of 100 Mbps by 2025 and full nationwide 5G coverage by 2030.
The visit aimed to assess the new two-tier local government model, preparations for upcoming Party congresses at levels, and implementation of the Politburo’s Conclusion on school construction in border areas.
Vietnam has been among the top 10 countries in terms of cross-border data transfer in the past decade (Photo: vneconomy.vn)
The top 10 rankings in the past decade (Photo: vneconomy.vn)
