Prime Minister Pham Minh Chinh chaired a working session on November 1 in Hanoi with the Ministry of Public Security and other ministries and agencies on establishing a legal framework, mechanisms, and policies for a national data exchange in Vietnam.

Reporting on the strategic orientation for developing the national data exchange and the national data economy with a vision toward 2045, Deputy Minister of Public Security Nguyen Van Long emphasized that building a national digital infrastructure is a crucial stage, laying the foundation. Accordingly, establishing a unified national digital infrastructure serves as the core foundation for nationwide integration, connectivity, and data sharing, ensuring interoperability and seamless connection among all databases.

The data exchange will function as an advanced, modern digital infrastructure with ultra-high capacity and bandwidth comparable to leading countries; mastering core technologies; and gradually reducing reliance on foreign technology, especially in fields critical to national security and the national financial system. In addition, the focus is on building a modern digital government and fundamentally transforming the country’s administration from paper-based, periodic reporting to real-time, data-driven management, enabling leaders at all levels to make timely decisions aligned with actual conditions.

 “Long-term development of the data economy will form a complete national data ecosystem, where data becomes a driving force for economic growth. Thousands of enterprises in the data and artificial intelligence sectors will emerge and expand rapidly, creating hundreds of thousands of high-quality jobs and contributing to the national GDP. In the future, Vietnam will become a data hub for ASEAN member states,” Deputy Minister of Public Security Nguyen Van Long said.

Director of the National Data Center Nguyen Ngoc Cuong stated that the Vietnam data exchange is operated by the Data Innovation and Exploitation Center of the Ministry of Public Security. The Vietnam data exchange is tasked with providing data resources and services, centralized data, and data from multiple sources for research and development; assessing participation conditions, verifying the legality of transactions, and monitoring operations.

However, at this stage, challenges remain as the legal framework has yet to provide specific guidance on classification and management of public data, particularly the mechanism for pricing data on the exchange; intellectual property rights for aggregated data products; and data security and sovereignty, Cuong said.

At the working session, PM Chinh said that databases are extremely important, serving as major resources and a basis for production, science, technology, and digital transformation. Databases are a driver of national growth, connecting people with each other, with nature, and with society. In addition to traditional growth drivers, he emphasized new growth drivers based on the digital economy, activating data resources as a national development asset.

“Developing a data exchange at this stage is an inevitable and objective task to unlock and supplement resources for socio-economic development. Successfully building Vietnam’s data exchange will bring comprehensive strategic benefits for economic development, forming a new market, a data trading market with high added value, promoting a professional, modern, and internationally competitive data market, and providing high-quality, standardized, and diverse data for artificial intelligence development and application,” PM Chinh emphasized.

Developing Vietnam’s data exchange requires innovative thinking, strategic vision, and a scientific, methodical roadmap. The data exchange is not a simple “data warehouse” or “data marketplace” but a platform providing resources and enhancing data value to serve research, startups, innovation, and national governance, the Government chief added.

He called for developing the data exchange with pioneering regulations, infrastructure as the foundation, technology as a breakthrough, human resources as the key, and efficiency as the driver. Data security must be ensured throughout as a prerequisite for market development. Ensuring data safety, security, and confidentiality is a core principle to promote fast, sustainable, and safe market growth. The exchange must operate smoothly, effectively, continuously, with monitoring and compliance mechanisms in line with Vietnamese law and harmonized with international regulations.

Emphasizing the motto “data must be traded on exchanges; the State facilitates, businesses take the lead; public-private partnership; the market guides; a prosperous country; happy people,” PM Chinh asked the Ministry of Public Security and other ministries and agencies to build databases by completing the regulatory framework; efficiently exploiting databases; ensuring connected and intelligent infrastructure; and developing human resources for effective utilization.

The national database should connect sectors, industries, and localities to ensure interoperability, integration, and efficiency for national development, PM Chinh said.

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