Tokenised assets: A new space for investment and digital economic breakthroughs

The 2025 Techcombank Investment Conference was recently held in Ha Noi, drawing the participation of Deputy Prime Minister Ho Duc Phoc, senior government officials, financial and technology experts, representatives of major investment funds, and more than 500 guests.

Fostering innovation through an open legal environment

At the conference, Deputy Prime Minister Ho Duc Phoc stated that Viet Nam is taking bold steps to reform and stimulate economic development in pursuit of its aspirations in the new era. In particular, the Politburo has issued several resolutions aimed at supporting private-sector development, promoting technology, fostering innovation, and building robust institutions, including Resolutions 57-NQ/TW and 68-NQ/TW.

The Deputy Prime Minister stressed that these resolutions provide a vital foundation and guiding framework for Viet Nam’s breakthrough and future development.

Speaking on policy directions for technological development, Nguyen Khac Lich, Director of the Department of Information Technology under the Ministry of Science and Technology, emphasised that to achieve the double-digit growth targets set by the Government, Viet Nam must establish new spaces for development.

According to Lich, that "new space" lies in the digital domain, built upon digital technology, digital devices and digital transformation, supported by liberal regulatory frameworks and strong policy incentives. These include land rent exemptions, personal income tax reductions, permission to pilot new business models under sandbox mechanisms, and even budget allocations for initial investment in innovative enterprises, as outlined in several key legal documents.

Lich also noted that this digital space enables individuals and businesses to innovate and grow vigorously.

“The Government’s current stance is to encourage innovation within a legal framework. Around 10 laws will cover innovation, technology and digital finance. Of these, five have already been passed, including the Law on the Digital Technology Industry, the Data Law, and the Law on Science, Technology and Innovation. Four additional laws are under review, including the Law on Electronic Transactions and the Law on Digital Transformation,” he said.

Breakthrough opportunities for Viet Nam’s digital economy

Expressing strong support for the progressive legal frameworks emerging in the fields of technology and finance, Phan Duc Trung, Chairman of the Viet Nam Blockchain Association and Chairman of 1Matrix, said that the innovation landscape, especially in the tokenised asset sector, is expanding rapidly and is no longer limited to small tech startups.

“The active participation of major corporations such as Techcombank (TCB), Techcom Securities (TCBS), VinGroup, Masan, and HDBank could drive a powerful breakthrough in Viet Nam’s economy,” Trung said.

He noted that prior to the passage of the Law on the Digital Technology Industry in June 2025, which will take effect from January 1, 2026, the Vietnamese market had been heavily influenced by foreign service providers. The lack of clear legal regulations had allowed transactions to occur on unlicensed platforms and led to illicit fundraising activities in private online groups.

Sharing his perspective on the opportunities presented by the tokenised asset market, Nguyen Xuan Minh, Chairman of the Members’ Council at Techcom Securities (TCBS), said that emerging technological trends are significantly reshaping the investment landscape. New technologies, he added, are helping to lower the cost of investments and improve accessibility for the public.