Vietnam needs to complete a legal framework to better manage virtual assets (VAs) as well as virtual asset service providers (VASPs), experts said at an annual forum on Blockchain and AI held by the Vietnam Blockchain Association in Hanoi on April 24.
Hanoi (VNA) – Vietnam needs to complete a legal framework to better manage virtual assets (VAs) as well as virtual asset service providers (VASPs), experts said at an annual forum on Blockchain and AI held by the Vietnam Blockchain Association in Hanoi on April 24.
Some 20% of the Vietnamese population own crypto assets which are developed by blockchain technology, they said, stressing without strict management and failure to comply with global taxing principles, VA transactions will pose great challenges for the country in the coming time.
As of the end of December 2023, 32 countries regulated crypto-assets in their jurisdictions, including ten nations of the G20 group officially issuing regulations on VA and VASP, the Alantic Council’s surveys on anti-money laundering and combating the financing of terrorism (AML/CFT) and protection of users and the VASPs revealed.
Standing Vice Chairman of the Vietnam Blockchain Association Phan Duc Trung said 18 related documents have been issued in Vietnam so far. The notable one being the national action plan to carry out the Government’s commitment to preventing money laundering and financing of terrorism and the proliferation of weapons of mass destruction so as to lift Vietnam out of the Financial Action Tasks Force’s list of Jurisdictions under Increased Monitoring (grey list).
He said the plan has focused on the AML/CFT and VASP standard but neglected taxation of VA and protection of users. Therefore, a complete legal framework has not been shaped up yet.
The association hoped to collect opinions from the community and enterprises as well as have dialogue with state management agencies to develop a complete framework before May 2025.
At the event, the association announced the second Switch Up Accelerator, helping startups to call for funds, and highlighted an overview of the blockchain industry in Vietnam and the globe.
The Academy of Blockchain and AI Innovation was debuted on the occasion, aimed at providing blockchain and AI training strategies for 1 million people by 2030, including 100,000 students in 30 universities across the nation./.
Vietnam needs to develop regulations about digital and virtual assets as Industry 4.0 is driving the emergence of new assets and the lack of rules exists is one of the most significant legal problems in asset ownership rights.
Vietnamese businesses, particularly small and medium-sized enterprises (SMEs), must embrace digital and AI transformations to remain competitive and achieve sustainable growth, experts said.
Under the European Union (EU)’s global initiative on Chemical, Biological, Radiological, and Nuclear (CBRN) Risk Mitigation Centres of Excellence (CoE), Vietnam has implemented numerous projects aimed at strengthening national capacity in detecting, preventing, and preparing for CBRN-related threats.
The course aims to promote knowledge exchange between scientific and educational schools from different countries, while deepening participants’ expertise in modern technology and technical education. It comprises two main specialisations of electronics-automation and nuclear technology.
ANTARA and VNA can design global-scale cooperation programmes or joint media campaigns, demonstrating the comprehensive strategic partnership between Vietnam and Indonesia, as well as the cooperation between the two national news agencies.
As Vietnam’s digital transformation accelerates, both the frequency and severity of cyberattacks are growing. The National Cybersecurity Association (NCA) reported that in 2024 alone, there were some 659,000 separate cybersecurity incidents, impacting around 46.15% of government agencies and businesses.
A key highlight will be the technology cluster pavilion, showcasing top enterprises selected for their innovation, market potential, and practical applications. These firms will display flagship products and solutions, supported by government policies to strengthen the tech sector.
Since 2022, more than 500 Vietnamese startups have engaged in Google’s Startup Academy, Google for Startups Accelerator, and Google Startup Masterclass. Nearly 100 of these firms received support to develop and improve their products, benefiting more than 300,000 customers and creating over 300 new jobs through successful fundraising and team expansion amidst Vietnam’s competitive economy.
Over the past three decades, Binh Duong has cemented its status as one of Vietnam’s most dynamic industrial hubs, building a robust foundation in manufacturing, exports, and investment. The province now has 30 operational industrial parks spanning over 13,000 hectares, with an occupancy rate exceeding 90%.
The diplomat emphasised that Vietnam places the highest priority on the development of science, technology, and innovation, viewing them as critical drivers for the country’s advancement in the new development era.
The PM revealed Vietnam’s plan to develop nuclear power in the near future, and called on the Swedish side to assist Vietnam in developing and refining legal and policy frameworks for the use of nuclear energy for peaceful purposes; training and developing human resources; ensuring nuclear safety; and conducting training and drills to improve incident management capabilities.
More than an art showcase, the second “Technology with heart” contest seeks to inspire innovation and spotlight the humanistic values that technology can bring into daily life, expected to contribute to a sustainable digital future.
The average speed of the national mobile broadband network remained stable, with download speeds reaching 76.86 Mbps and upload speeds reaching 26.98 Mbps.
Under the MoU, AMD will support several key initiatives spearheaded by HCM City’s authorities, including piloting policies, co-hosting innovation events, and evaluating the investment environment within the Saigon Hi-Tech Park.
The centre is a joint initiative between Australia’s Department of Foreign Affairs and Trade and Vietnam’s Ministry of Science and Technology, with PTIT and the University of Technology Sydney (UTS) serving as co-leads, and global telecommunications giant Nokia as founding industry partner.
The new centre, staffed by a team of scientists, researchers, and AI specialists working in Hanoi and Ho Chi Minh City, forms part of Qualcomm’s global AI research group.
As a flagship initiative of the community project “Digital Literacy for All”, the programme forms part of a national scheme to equip 20 million young people with digital business skills.
The organisers hope the competition will help shape a generation of exceptional engineers who will make significant contributions to Vietnam’s scientific and technological progress in this era of transformation.
In the digital age and amidst the Fourth Industrial Revolution, IP plays an increasingly critical role, not only in safeguarding inventions but also in reducing copyright infringement and curbing piracy.
At the event (Photo: VNA) 
