Government allocates $38.3 mln for National Data Development Fund

Under Government Decree No. 160/2025/ND-CP, dated June 29, 2025, the National Data Development Fund has been officially established.

The State budget will provide the Fund with an initial capital of VND1 trillion (approximately $38.3 million). Subject to available resources, the Fund will continue receiving annual financial support to maintain this capital level at the start of each fiscal year.

Operating as an off-budget, non-profit state financial fund, the National Data Development Fund will be directly managed by the Ministry of Public Security. It is expected to play a central role in powering Vietnam’s digital transformation and socio-economic development.

The Fund’s key objectives include:

Supporting the development and application of advanced technologies—such as artificial intelligence, big data, machine learning, cloud computing, blockchain, and the Internet of Things—for data processing to benefit state management, national interests, and the public good,

Promoting digital transformation, particularly in rural, mountainous, and disadvantaged areas, while also funding scientific, technological, and innovative data-related activities.

Building networks of domestic and international experts, researchers, technology organizations, and data-focused associations.

Investing in enterprises and individuals conducting research in data protection, technology transfer, and data innovation, with an emphasis on applications that enhance state governance and public service.

Assisting public service entities in managing and recovering from data security and safety incidents.

Supporting the development and deployment of essential data categories, including core, critical, and strategic data related to national defense, security, and foreign affairs.