There are still many points in current legal regulations that are not keeping pace with scientific and technological development, leading to barriers in research, application, and commercialisation of research results.
Promoting the development of the digital technology industry
The revenue growth rate of Vietnam's digital technology industry is currently double that of GDP growth, contributing about 6-6.5% of GDP.
The draft Digital Technology Industry Law is being developed and is expected to be submitted to the 15th National Assembly for consideration and approval at its 9th plenary session, aiming to address the existing shortcomings of the Information Technology Law and create a legal framework to promote the development of the digital technology as a foundational industry.
This law requires very high quality in the context that on December 22, 2024, the Politburo issued Resolution 57 on breakthroughs in the development of science, technology, innovation, and national digital transformation.
Implementing Resolution 57, the National Assembly issued another resolution known as Resolution 193 on piloting special mechanisms and policies to create breakthroughs in science, technology, innovation, and national digital transformation, which raises the issue of financial support for building the first factory for research, training, and production of semiconductor chips.
This is considered a strategic step in realising the goal of shifting Vietnamese digital technology companies primarily from assembly and processing to creation, design, integration, production, and mastery of core technologies.
AI is another crucial area that will be regulated under the draft law, which will establish principles to limit the risks and make good use of AI.
Nguyen Phuong Tuan, Vice Chairman of the National Assembly Committee on Science, Technology and Environment said: "The draft law must clearly identify that the subject of promoting AI development is building data systems and information infrastructure. At the same time, it needs to be managed according to levels, considering promoting at the lowest risk level, such as in family activities. The higher the risk, the tighter the management needs to be, especially issues related to health, people, and national defence and security."
Another issue receiving significant attention is digital assets, including cryptocurrencies. In the latest draft, digital assets have been put into a separate chapter and are defined as a legal asset according to the provisions of the Civil Code, which can be traded and invested in.
This is an important step forward because until now, cryptocurrencies have remained in a legal grey area in Vietnam. Lawmakers have incorporated the content of Resolution 57 and the direction of General Secretary To Lam during the meeting with the Central Committee for Policies and Strategies on February 24, 2025: "We should not delay, miss opportunities, nor create gaps or separations with new financial forms as well as modern transaction methods."
Dr Dang Minh Tuan, Chairman of the Vietnam Blockchain Alliance, said that in the long term, a separate law for digital assets is needed, as this is also a very new type of asset that requires very specific and tight regulations to limit risks for citizens.
Perfecting the innovation ecosystem
National Assembly Resolution 193 outlines 12 pilot mechanisms and policies to bring Resolution 57 into practice for issues that can be implemented early, without waiting for the National Assembly to pass laws.
According to Professor Hoang Van Cuong, former Vice President of the National Economics University, mechanisms and policies such as accepting risks, lump-sum payments, and funding through fund mechanisms have truly eliminated barriers that were causing many scientists to hesitate and many scientific works to be dead on arrival.
According to Nguyen Phuong Tuan, the mechanisms and policies on ownership rights, management, and use of scientific research and technology development results have opened a path for the issue of commercialisation. This regulation will remove bottlenecks in valuation before transferring rights.
The Science, Technology and Innovation Law is expected to address the shortcomings of the 2013 Science and Technology Law, creating a solid legal basis and continuing to institutionalise Resolution 57.
Accordingly, the breakthrough mechanisms and policies in Resolution 193 continue to be inherited and regulated in more detail, ensuring effective implementation. The new law will promote decentralisation, delegation, reform of management methods, implement scientific and technological tasks suitable for each type of research.
It will expand the scope of regulation to the non-public sector, reform financial management mechanisms, simplify administrative procedures to the maximum, grant autonomy in the use of scientific research and technology development funds in accordance with the spirit of Resolution 57, add provisions on the sandbox mechanism to create a legal corridor for testing new technologies that are not yet regulated by law or are prohibited from testing.
Faced with the risk that the shortage of high-quality human resources could become a bottleneck, the draft law also includes a chapter with eight articles on how to attract and develop talent.
Amid the strong development of the fourth industrial revolution, perfecting the legal framework for science, technology, and innovation is an urgent requirement. The two draft laws being examined will not only concretise the direction of Resolution 57 but also help Vietnam reposition its role and status on the global science and technology map.
