return icon

Database needs more secured exploitation for economic growth

Data in the digital era has become an increasingly important resource for economic activities besides land, human resources, and energy from fossil fuel.

Like other developed nations, Vietnam is paying more and more attention to exploit this valuable resource while securing it effectively for sustainable socio-economic development.

Students of Tran Dai Nghia School are accessing the school’s materials on the Internet. (Photo: SGGP)

Reports from the Institute for Policy Studies and Media Development (under Vietnam Digital Communications Association) reveal that user databases have become an utterly precious resource which is highly profitable to the digital economy.

It is even considered the ‘new gold’ of the time, as said by World Bank Country Director for Vietnam Carolyn Turk, when she mentioned the need to invest in data.

Sadly, data existing nowadays on the Internet from around 11 billion electronic devices can be easily stolen although some of them is managed by giant prestigious technological companies like Facebook or Google.

In March 2020, a hacker went online to boast about owning a database of 41 million Vietnamese Facebook accounts (past schools and workplaces, addresses, full names, and Facebook ID). Not long after that, on Raid Forum, a file with confidential information of over 163 million Zing ID accounts was uploaded for free. This was a wake-up call for the community about weaknesses in data security.

To make matter worse, the incident of over 500,000 Zoom accounts, including Vietnamese ones, being sold openly on the Internet in April 2020 truly makes people feel anxious.

It seems that the illegal activity of selling sensitive information online, be it related to state units (police force, national defense, tax) or in the economic sector (bank accounts, insurance, business registration documents) and the education field (parents, teachers, students), has been out of control in Vietnam.

Yet until now, in Vietnam, there has been almost no case of a business being blamed for information leak, accidentally or not.

In addition, punishments for these cases, if applicable, is not harsh enough, said Director of CyRadar Cyber Security Co. Nguyen Minh Duc.

He cited the General Data Protection Regulation (GDPR) of EU, effective as of 2018, saying that any business losing its control over its client information due to unexpected incidents or weak management, has to be fined up to 4 percent of its global annual revenue.

There is no such policy in Vietnam, where 60 percent of its population uses the Internet every day. Their personal information might be stolen at any moment.

Another point worth mentioning is the method to exploit user data effectively.

In 2019, 45.3 million people in Vietnam accessed Facebook, making it a lucrative marketing channel. However, the country receives no profit at all from this digital economic sector. Obviously, only giant technological enterprises like FPT, VNG, VCCorporation, Vietcombank, Vietnam Airlines consider making use of these data or the Big Data technology to develop their strategic growth plan.

Deputy Minister of Information and Communications Nguyen Thanh Hung stated that forming an e-government and later a digital government, along with the digital economy, is an unavoidable trend in Vietnam. And one of the most essential factors of the digital economy is data, which is labeled as its ‘fuel’.

Undoubtedly, the tasks of creating, storing, handling, and sharing data properly, smoothly, and securely is critical to any nation in order to ensure a high-quality service from the Government to both businesses and citizens.

Lawyer Nguyen Tien Lap from the Institute for Policy Studies and Media Development said that the most challenging task at the moment is to clearly identify if personal data belong to that person or not, whether it is considered a personality right or property right. Since these data possess very high risks and is normally the target of hackers, does protecting them contrast with ensuring public security?

Therefore, in order to transfer to the digital economy successfully, it is necessary to prepare suitable laws to guard personal data and personality right.

Deputy Director of Oxfam Vietnam Pham Quang Tu also shared that Vietnam needs a legal frame to protect confidential data and the right to privacy to ensure the smooth operation of the digital economy, which bases on databases. This frame needs to allow people to file a lawsuit if they think their personal data and privacy is violated. Meanwhile, non-profit organizations should help citizens in this process if needed. SGGP 

Vien Hong


Digital economy and fintech see growth amid COVID-19

Digital economy and fintech see growth amid COVID-19

The Prime Minister’s Economic Advisory Group met with the local fintech firm MoMo in HCM City on Monday.

The right structural adjustments help Vietnam achieve long-term growth aspirations

The right structural adjustments help Vietnam achieve long-term growth aspirations

No nation has escaped the threat of COVID-19 to lives and livelihoods, with many countries seeing cases resurge recently. 



Newly-appeared low pressure zone in East Sea may develop into storm


Vietnam’s exports to Hungary on the rise

Football star to join France's Pau FC

Vietnam’s football star Nguyen Quang Hai will play for Pau FC in Ligue 2, France’s second division.

Multiple int’l air routes to Danang to be reopened by year-end

Multiple international air routes linking Danang City and regional destinations will be reopened from now until the end of 2022, giving an impetus to tourism growth in the city.

One of a kind: banana species needs boiling, non-sour citrus fruit sells out

While regular bananas need time to become ripe, a particular type in Vietnam requires boiling or grilling to reach its maximum taste. In Vietnam, there is also a unique citrus fruit, not sour but sweet.

VN animation project depicts traditional culture

A short film depicting Vietnamese traditional culture, U Linh Tích Ký: Bột Thần Kỳ (Linh: Magic Powder), has attracted viewers on YouTube.

NBA gets first Vietnamese-origin players

The National Basketball Association (NBA)'s Oklahoma Thunder selected Jaylin Williams, a 2.08-metre power forward from the University of Arkansas in the fourth pick of the second round of the draft on Friday (June 24).

Automatic toll collection set for all expressways in Vietnam by end of July

The Ministry of Transport has asked relevant agencies to realise the Prime Minister's request on completing automatic non-stop toll collection (ETC).

Health ministry issues latest guidance on COVID-19 vaccination

The Ministry of Health has issued its latest guidance on COVID-19 vaccinations, which asks all agencies to continue administering booster doses for those 18 and above, and complete second doses for those aged 5-12 within August.

Over 70% of Vietnamese population use internet

The rate of internet users in Vietnam has increased to 70.3% of the population over the last two decades, heard a recent forum themed “The future of Internet” hosted by the Ministry of Information and Communications.

Mobile malware up in Vietnam: Kaspersky's report

Along with a surge in the number of mobile phone users accessing the Internet, there has been an increase in the number of mobile malware targeting Vietnamese users, according to the global cybersecurity company Kaspersky.

5G subscriptions in Southeast Asia and Oceania expected to double in 2022

5G subscriptions in Southeast Asia and Oceania were around 15 million at the end of 2021 and are expected to more than double during 2022, according to the latest edition of the Ericsson Mobility Report.

Entertainment and cultural events of the week (June 27-July 3)

Upcoming entertainment and cultural events in Vietnam's major cities from June 27 to July 3.

Enterprises feel ‘insecure’ about business conditions

Reform has not pursued the wishes of enterprises and the actual situation. This is why businesses feel insecure.

VN central bank to tighten lending with stricter standards

The State Bank of Vietnam (SBV) is mulling over stricter lending regulations, especially to finance purchases of properties and stocks, according to inside sources.