Vietnam has launched the National Data Development Fund with an initial capital of nearly SGD 49 billion (USD 38.4 billion) to strengthen digital infrastructure.
It will channel resources into artificial intelligence (AI), big data, machine learning, cloud computing, blockchain technology, and Internet of Things (IoT) infrastructure, to support national digital governance.
The government will prioritise rural, mountainous, and economically challenged regions as part of its broader digital transformation goals.
The fund will support scientific research and innovation by enhancing a network of data scientists, technology organisations, and research associations.
This will be done at the domestic and international levels.
It will also support the development and application of critical and core datasets, particularly those related to national defence, security, and foreign affairs.
The Ministry of Public Security administers the fund, which operates as a non-budget state financial entity.
Besides the state capital, the fund will generate revenue from interest income, sponsorships, donations, and trust funds.
Organisations and individuals can contribute through direct cash, bank transfers, or physical assets, under protocols defined by the decree.
