The Vietnamese government has established the National Data Development Fund to advance the growth, exploitation, application, and governance of national data resources.

This is a non-profit, off-budget state financial fund managed by the Ministry of Public Security. The fund’s establishment is outlined in Decree No. 160/2025/ND-CP issued on June 29, 2025.

The fund possesses legal entity status, has its own operational budget, financial statements, and seal, and is authorized to open accounts at the State Treasury and legally operating commercial banks in Vietnam, in accordance with current law.

The fund’s objective is to support activities related to the development and application of technologies such as artificial intelligence (AI), big data, machine learning, cloud computing, blockchain, the Internet of Things (IoT), and other data-processing technologies. These efforts serve state management, national and public interests, and the broader goals of socio-economic development.

The fund is also tasked with promoting the use of data in support of national digital transformation, particularly in rural, mountainous, and socio-economically disadvantaged areas. It will support scientific and technological innovation involving data, help develop networks of experts and scientists, and foster cooperation among domestic and international scientific organizations and data-related associations.

Additionally, the fund will invest in enterprises and individuals conducting research into data protection solutions, technology transfers, and innovations that support public administration, national and community benefits, and economic development. It also supports public service organizations in addressing and recovering from data security incidents, and in the application and development of key data sets, including those related to national defense, security, and foreign affairs.

The state has allocated VND 1,000 billion (approximately USD 39.2 million) as initial capital for the fund. Depending on the budgetary situation, the fund will receive annual support to maintain this capital level at the start of each fiscal year.

PV