Government Headquarters · HanoiVGP / Nhat Bac
Thematic conference
Building the legal framework, policies and institutions to promote the formation and development of Vietnam's Data Exchange
Chaired by Prime Minister Pham Minh Chinh · Ministry of Public Security with ministries and agencies
(Chinhphu.vn) - Chairing a working session on building the legal framework, policies and institutions to promote the formation and development of Vietnam's data exchange, Prime Minister Pham Minh Chinh set out the guiding motto: “Data goes on the exchange; the State creates; enterprises pioneer; public and private walk together; the market leads; the country prospers; the people are happy,” and required the legal basis to be essentially completed and a trial run of the Vietnam data exchange to be attempted this very November.
01.Data is the new strategic resource of the digital era
At the working session at Government headquarters, delegates discussed at length the state of data exchange development worldwide; the experience of advanced countries in building data markets; the situation of data exchanges in Vietnam; and the direction for data exchange development within the overall national data-economy goals.
Reports and opinions at the meeting affirmed that the global data economy is in a phase of explosive expansion. Data is no longer just bits of digital information but a new means of production, a national resource with limitless earning power once connected, standardized and circulated transparently.
World market · 2024
344 bn USD
Concentrated in North America & APAC
Global forecast · 2029
655 bn USD
Nearly doubling in five years
EU data economy · 2025
640 bn €
Equivalent to 4.8% of total EU GDP
In Asia, China is actively building a data ecosystem, with data transaction value estimated at 204.6 billion yuan in 2025. Singapore, with its edge as a regional technology and finance hub, has grown a digital economy that contributed 17.7% of GDP in 2023, a striking rise from 13% in 2017.
02.Guiding motto: “Data goes on the exchange; the State creates…”
Concluding the session, Prime Minister Pham Minh Chinh stressed that the global trend is for countries to place the data economy at the top of their development strategies. The contest over data sovereignty and the capacity to exploit data has become a new strategic battlefield.
“Data goes on the exchange; the State creates; enterprises pioneer; public and private walk together; the market leads; the country prospers; the people are happy.”
The Prime Minister asked ministries and agencies to renew their management mindset: from “closed administrative management” to “creating an open, safe and transparent trading environment.” No national or sector database may be siloed or localized; all must be interconnected with the national consolidated database so people and businesses can use them.
03.A market of 90 – 200 billion USD by 2030
In Vietnam alone, the data market in 2024 is estimated at about 1.57 billion USD, and is forecast to reach about 3.53 billion USD by 2030 at a compound annual growth rate (CAGR) of about 14.2%.
Vietnam's overall digital economy is expected to reach about 45 billion USD in 2025 and could break out to between 90 and 200 billion USD by 2030. This confirms the great potential of the data market and the pivotal role of the data exchange in unlocking the flow of digital value.
Comparison of data-economy & digital-economy size
Source: Statista & Ministry of ICT
| Country / region | Current scale (2024–2025) | 2030 target | Share of GDP | Development focus |
|---|---|---|---|---|
| Vietnam | 1.57 bn USD (data) | 90 – 200 bn USD (digital) | Aiming for 30% of GDP | NDEP Data Exchange, VIFC Sandbox |
| European Union | 640 bn € | 1,000+ bn € | 4.8% – 6% of GDP | Gaia-X common data space |
| China | 204.6 bn CNY | 500+ bn CNY | ~10% of digital GDP | Shanghai & Shenzhen data exchanges |
| Singapore | 17.7% of GDP | 25% of GDP | 17.7% of GDP | Fintech Hub & Smart Nation |
04.Completing the legal framework and removing institutional bottlenecks
The Prime Minister noted that institutions are both a driver and a resource for development. For the data exchange to run effectively, the urgent task is to perfect the legal mechanisms and institutions:
- 1
Clear rules on digital assets and data
Establish ownership, usage rights and valuation mechanisms for data assets under Data Law No. 60/2024/QH15.
- 2
The role of data intermediaries and exchanges
License, verify data quality, and ensure absolute authenticity and information security before listing.
- 3
Protecting privacy & personal data (PDPA)
Strictly comply with Decree 91/2025/ND-CP and Decree 13/2023/ND-CP. Every commercially traded dataset must pass the PII de-identification filter (masking engine).
- 4
Electronic contracts and smart contracts
Automatic order matching and transparent escrow payment, with full legal validity and an immutable audit trail.
05.The lead role of the National Center & the Da Nang Sandbox
The Government has assigned the Ministry of Public Security to lead building the data exchange at the National Data Center, aiming for a unified national exchange that safeguards national defense and data security while leaving flexible room for the data economy to grow.
In addition, Da Nang, with its controlled testing (Sandbox) mechanism within the International Financial Center (VIFC) under National Assembly Resolution 222/2025/QH15, is designated as the pioneering testbed for financial data products, AI data and digital asset transactions for the central region and the country.
Summary of the Prime Minister's 4 key directives
Trial operation as early as November: Essentially complete the legal basis and start technical trial runs of the data exchange.
Remove institutional bottlenecks: Issue circulars and technical standards for data valuation and safe-data certification in a coordinated way.
Comprehensive data interconnection: End “data silos” between ministries, agencies and localities, and bring data into the value-creating production cycle.
Leverage Da Nang's role: Use the VIFC Sandbox to pilot cross-border data trading and new digital-asset operations.