VIETNAM Trends and Developments Contributed by: Justin Gisz, Minh Duong and Phong Nguyen, Asia Counsel Vietnam Law Company Limited
In addition to regulating the flow, protection, and stor - age of digital data, the Data Law creates a frame - work for data-related products and services, such as data intermediation, analytics, and electronic authen - tication. These emerging sectors are eligible for the same investment incentives granted to high-tech and innovation enterprises. The Data Law also introduces controlled mechanisms for cross-border data trans - fers, permitting inbound data processing freely but imposing conditions on outbound transfers to ensure national security and the lawful rights of data owners and subjects. By establishing a comprehensive system for data man - agement and protection, the Data Law is expected to accelerate Vietnam’s digitalisation efforts, streamline administrative processes, and attract foreign invest - ment in technology, infrastructure, and innovation- driven industries. It represents a major milestone in the country’s broader reform agenda – positioning data as a cornerstone of economic growth and gov - ernance in the digital era. Law on the Digital Technology Industry On 14 June 2025, the National Assembly promulgat - ed the Law on the Digital Technology Industry (“LDTI 2025”), which will take effect from 1 January 2026. LDTI 2025 aims to elevate the country’s tech sector by shifting from assembly and outsourcing to master - ing core technologies. This strategic shift will foster a high-quality workforce, encourage major digital tech - nology research programmes, and attract investment from large tech corporations to establish R&D centres in Vietnam. Key areas covered by the LDTI 2025 include the fol - lowing. • Defining scope: The LDTI 2025 defines various aspects of the digital technology industry, includ - ing types of activities, digital assets, domestically produced products, and key and essential digital technology products and services. • Promoting development: The LDTI 2025 outlines measures to support digital technology enterprises, including building and implementing plans to promote the industry, managing and trading digital
data, and promoting standardisation and certifica - tion. • Driving digital transformation: Focus is placed on utilising digital technology to enhance various sec - tors, fostering innovation and increasing competi - tiveness. A key highlight of the LDTI 2025 is the official recognition of the concept of digital assets, reflecting Vietnam’s effort to keep pace with global developments. Specifically, digital assets are clas - sified into the following categories: • virtual assets in electronic environment – digital assets used for exchange or investment purposes, which could be understood to include in-game items, loyalty points, and similar concepts; • crypto-assets (tokenised assets) – digital assets which rely on cryptographic technology for crea - tion, storage, and transfer; these may comprise cryptocurrencies (for example, Bitcoin, Ethereum and others) and non-fungible tokens (NFTs); and • Other types of digital assets – including digital assets which do not fall into the above categories. On 9 September 2025, the Government issued Reso - lution No 05/2025/NQ-CP on the pilot implementa - tion of a crypto-asset market in Vietnam (“Resolution 05”). This pilot programme will run for five years, under close government supervision. In particular, Resolution 05 allows for the establish - ment of crypto-asset exchanges, with strict regulatory requirements. For instance, a company operating a crypto-asset exchange is required to have a minimum charter capital of VND10 trillion, qualified personnel with expertise in technology and finance, and ade - quate infrastructure and operational rules ensuring cybersecurity and information safety. Foreign owner - ship in companies operating crypto-asset exchanges is capped at 49%. Despite the stringent licensing requirements, many enterprises have already begun preparing their appli - cations to establish crypto-asset exchange compa - nies. Under Resolution 05, up to five exchanges are expected to be licensed to operate during the pilot period.
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