Prime Minister Pham Minh Chinh on October 20 signed a decision on the establishment of the National Steering Committee on Data (steering committee).

As data becomes a strategic resource for every country, forming a network of experts capable of gathering insights, building connections, and contributing ideas for data-driven economic growth is now an urgent necessity.

Major General Nguyen Ngoc Cuong, Director of the National Data Center, has warned that Vietnam is facing the risk of "data colonialism" as the majority of user data remains stored on foreign platforms.

The government allocates USD 39.2 million to support data tech, security, and AI development.

Ensuring transparency and security are top priorities in the formation of a data marketplace, experts have said.

Vietnam has great opportunities to take full advantage of data for economic development. The data economy will reshape the picture of Vietnam’s economy.

Population data resource is one of the most important and valuable resources of a country as digital transformation is associated with all activities of the people.