Government’s plan to implement Law on Digital Technology Industry approved

The Government has approved a plan to implement the Law on Digital Technology Industry (the Law) scheduled to take effect from January 1, 2026, according to a report from the Government News.

The plan specifies responsibilities of ministries, agencies and localities for implementing the Law, ranging from popularization of its content, promulgation of legal documents guiding the implementation of the law, and supervision of the law enforcement.

Accordingly, the Ministry of Science and Technology shall be responsible for drafting a Decree on detailed implementation of several articles of the law and a Decree on centralized digital technology parks. The Ministry of Finance shall have to draft a Decree on management of digital assets. These draft Decrees must be submitted to the Government prior to September 30, 2025.

The Ministry of Science and Technology shall be responsible for drafting five circulars relating to the implementation of the law, making sure that these circulars must take effect from January 1, 2026.

The Ministry of Science and Technology shall draft and submit to the Prime Minister for issuance of a Decision approving a program on development of digital technology industry before December 31, 2025.

Regarding semiconductor industry, the Ministry of Science and Technology shall take prime responsibility and coordinate with relevant agencies to draft and submit to the Prime Minister for issuance of a strategy for semiconductor industry development.

The Law was passed by the National Assembly at its 9th working session in June this year.

With this move, Vietnam has become the first country in the world to enact a standalone law specifically dedicated to digital technology industry, according to the Ministry of Science and Technology.

The law is expected to promote national digital transformation process, paving the way for domestic tech enterprises to grow sustainably, integrate deeply into the global market, and contribute to establishing a new position for Vietnam on the world stage.

Foreign-invested enterprises are encouraged to transfer technology and collaborate with local companies, with incentives such as multi-year corporate income tax reductions if they meet these criteria.

Notably, the Government will establish a network of representatives for Vietnam's digital technology industry in key global markets, in coordination with international cooperation programs to support Vietnamese enterprises in gradually evolving into multinational companies, capable of competing on equal footing with major global tech corporations.

With the goal of building a robust digital technology enterprise ecosystem and reaching 150,000 businesses by 2035, the law introduces a comprehensive set of support policies. Small and medium-sized enterprises will receive assistance with infrastructure investment costs, training of high-quality human resources, and will be given priority in bidding for public procurement projects.