Vietnam Launches National Data Fund To Boost AI

Vietnam has officially launched the National Data Development Fund, a strategic initiative aimed at accelerating the country’s digital transformation and AI infrastructure. With an initial capital of approximately USD 38.4 billion (SGD 49 billion), the fund will drive investment into critical technologies including artificial intelligence (AI), big data, machine learning, blockchain, cloud computing, and Internet of Things (IoT) systems. The move reinforces Vietnam’s commitment to building a robust digital economy while enhancing national security and global competitiveness. 

Administered by the Ministry of Public Security, the fund operates as a non-budget state financial entity. It is designing to fuel both public and private sector growth by supporting scientific research, innovation, and the development of essential datasets - particularly those related to national defence, foreign affairs, and internal security. 

Key initiatives include: 

• Priority investments in AI infrastructure and digital governance, particularly in underdeveloped rural and mountainous regions. 

• Support for a domestic and international network of data scientists, tech organizations, and research bodies to enhance Vietnam’s digital capabilities. 

• Funding of core datasets for national defence, public security, and foreign policy, to fortify strategic decision-making and digital resilience. 

The fund will also mobilize contributions beyond state capital through interest income, donations, sponsorships, and trust funds. Contributions can be made via direct cash, bank transfers, or physical assets under official government protocols. 

This initiative marks a significant step in aligning Vietnam’s technological roadmap with global digital trends. As AI becomes central to economic growth and public governance, the National Data Development Fund is poised to serve as a catalyst for data-driven innovation, ensuring Vietnam’s competitive edge in the emerging digital landscape. 

Source: 

https://www.itnews.asia/news/vietnam-sets-up-national-data-fund-to-strengthen-ai-infrastructure-618308