In a context where the world is undergoing profound transformation, data is no longer confined to a technical concept but has become a key growth driver of the 21st century.
Delivering the closing remarks at the International Conference on the Data Economy under the theme “New Thinking – New Policies – New Opportunities” on December 13 in Hung Yen, Major General Nguyen Ngoc Cuong, Director of the National Data Center and Vice Chairman of the National Data Association, emphasized that data has now become a strategic resource, often described as the “new oil” of the economy.
Therefore, for any nation seeking breakthrough growth, the data economy is no longer an option but an inevitable requirement. To realize its development aspirations over the next 10–20 years, Viet Nam must transition from a growth model based on low-cost labor and finite natural resources to a new model driven by knowledge, data, and technology.
However, the challenge is that the data era waits for no one. “Countries that succeed in building a trustworthy data foundation will leap ahead; those that miss this moment will be left behind for decades,” Major General Nguyen Ngoc Cuong stressed.
To ensure that data truly creates value, experts at the conference agreed that Viet Nam must establish a unified data governance architecture, including: reliable source data; common data standards; secure data-sharing mechanisms; monitoring and enforcement systems; and a modern legal framework aligned with OECD and EU practices. Within this architecture, Viet Nam needs a capable national focal point to govern the entire data ecosystem.
“Without a focal point, there will be no interoperability. Without interoperability, there will be no data economy,” the Director of the National Data Center stated.
At present, the Ministry of Public Security is making concerted efforts and gradually affirming its pivotal role in building national data infrastructure through the development and operation of the National Data Center; ensuring data security, safety, and sovereignty; standardizing and connecting data among ministries, sectors, and localities; and creating a trusted data foundation to enable the Government’s transition toward data-driven governance. This is not merely a technical task but a strategic mission directly linked to national competitiveness and prosperity.
Accordingly, the Ministry of Public Security is implementing several key initiatives, including the development of the National Population Database, operation of the electronic identification system, connection to the National Data Sharing Platform, and notably the deployment of the National Data Center. This constitutes critical strategic infrastructure—the “backbone” of Viet Nam’s data economy.
To further develop the data economy, Major General Nguyen Ngoc Cuong noted that participants at the conference agreed Viet Nam should focus on three strategic, “unlocking” tasks.
First, completing the national legal framework, specifically through the promulgation of the Data Law, which provides the necessary legal corridor to standardize all data-related activities.
Second, establishing a Data Economy Measurement Framework in line with international standards (OECD/EU). Viet Nam needs a standardized indicator system to accurately determine data’s contribution to GDP, its impact on total factor productivity (TFP), and the effectiveness of related policies.
Third—and most groundbreaking—is the establishment of a National Data Market. This market would encompass pricing mechanisms, trading platforms, technical standards, and a legal framework for data trading and sharing. The formation of a data market will open up an entirely new innovation ecosystem for Viet Nam’s business community.
“The world enters the Data Era only once. Viet Nam is entering the Data Era with the highest determination. Countries that seize the right moment will move faster for decades to come. With a young population, rapid digitalization, dynamic enterprises, an emerging national data infrastructure, and strong interest from the international community, Viet Nam has all the conditions needed to make a breakthrough,” Major General Nguyen Ngoc Cuong emphasized.
(Source: mst.gov.vn)