Prime Minister demands trial operation of Vietnam's National Data Exchange this November

Prime Minister Phạm Minh Chính has issued a direct mandate for the National Data Exchange Platform to begin trial operations in November 2025. This ambitious push is a core component of Vietnam's strategy to leverage the digital economy and data as new growth drivers to achieve an 8% GDP increase in 2025. The platform aims to facilitate the safe, legal, and transparent exchange of data between the state, businesses, and the public, transforming data into a valuable asset for socio-economic development.

The Urgency of the Data Economy

Chairing a national conference on data development, Prime Minister Chính emphasized that relying solely on traditional growth pillars—investment, exports, and consumption—is no longer enough. The development of a robust data economy is now viewed as essential for Vietnam to accelerate its digital transformation and meet ambitious national growth targets.

• Market Potential: The national data market is estimated to reach $1.57 billion in 2024 and is projected to nearly triple to $3.53 billion by 2030, underscoring the platform's vital role in national development.
• Guiding Philosophy: The Prime Minister stressed the motto: "data must be listed, the State creates, enterprises pioneer, public-private partnership, the market leads, the country is rich and strong, the people are happy."
• Core Drivers: The platform must be built on pioneering institutions, strong infrastructure, cutting-edge technology, and highly skilled human resources.

Purpose and Legal Framework

The National Data Exchange Platform is designed as an intermediary marketplace, providing a structured, secure, and legal environment for data transactions and services.

• Seamless Exchange: The platform will enable seamless data aggregation and interoperability across ministries, localities, domestic, and international information systems.
• Innovation Backbone: Its purpose is to provide data resources to support research, startups, and innovation, transforming raw data into new products and services for socio-economic development.
• Legal Foundation: The move follows the passage of the Law on Data in late 2024, which establishes the legal foundation for the platform's creation, management, and exploitation. The legal framework must ensure the protection of rights and legitimate interests of all participants while maintaining national defense and security.

Implementation and Next Steps

To meet the November deadline for trial operations, the Prime Minister issued clear directives to relevant agencies:

• Completion of National Systems: All ministries, agencies, and localities were ordered to complete their respective data systems by 2025, ensuring the data is accurate, comprehensive, and connected from the central to local levels.
• Financial and Technical Resources: The Ministry of Finance is tasked with allocating adequate funding for developing and upgrading the National Data Centre, which will serve as the core foundation for the data services.
• Private Sector Engagement: The Vietnam Data Association and domestic enterprises are strongly encouraged to actively participate in the data exchange and forge connections with global data businesses.

The successful trial operation of the platform this November is seen as a crucial step in recognizing data as a new, high-value asset and ensuring that the public and businesses are the true beneficiaries of the national digital transformation strategy.