Digital technology law to drive economic and technology breakthroughs

The draft Law on Digital Technology Industry aims to create an optimal environment for nurturing and growing digital technology enterprises, transforming the sector into a vital part of Vietnam’s economy, according to Minister of Information and Communications Nguyen Manh Hung.

Presenting the draft law project at the 38th meeting of the National Assembly Standing Committee on October 8, Minister Hung highlighted that the draft law, comprising eight chapters and 73 articles, is scheduled for initial discussions and comments at the forthcoming eighth sitting of the 15th National Assembly, scheduled for this October.

Mr. Hung emphasized that developing the digital technology industry, with a focus on Vietnamese enterprises, involves a gradual transition from assembly and outsourcing to creation, design, integration, production, and mastering core technologies in Vietnam. This shift aims to build a digital government and drive the development of the digital economy and digital society.

The draft Law also stipulates policies to encourage the development of highly qualified researchers and experts in digital technology. Specifically, it will facilitates the establishment and implementation of key research programs on digital technology, encouraging large technology corporations to invest in and establish research and development centers in Vietnam.

"Vietnam is at the forefront globally in building a legal framework for the country’s digital technology industry. Enacting this Law is not only a significant step for Vietnam but also affirms the country's position in global technology trends. With the right policies, Vietnam can become a pioneering country, leading the fourth industrial revolution," said Minister Hung.

One of the highlights of the draft Law on Digital Technology Industry is the addition of content on the semiconductor industry and artificial intelligence (AI).

The semiconductor industry is considered a crucial sub-industry of the digital technology industry and plays a decisive role in the global value chain. The draft Law dedicates Chapter 5 to regulating the semiconductor industry, thus affirming its importance and the need for Vietnam to develop it strategically at each stage.