Unlocking digital assets is becoming a new growth engine.

(Chinhphu.vn) - In the context of the Government issuing Resolution 05 on piloting the cryptocurrency market, marking a pivotal moment for the digital economy and corporate governance reform, representatives of businesses, experts, and managers exchanged views on the digital economy and how these components can contribute to forming a new growth foundation.

The Vietnam Corporate Governance Forum 2025 (VCG Forum 2025) with the theme "Unlocking the Potential of Digital Assets" - Photo: VGP/HT

To prevent digital assets from becoming a "virtual craze"

The Vietnam Corporate Governance Forum 2025 (VCG Forum 2025), themed "Unlocking the Potential of Digital Assets," is taking place against the backdrop of the Government's recent issuance of Resolution 05/2025/NQ-CP on piloting the cryptocurrency market. This is considered a significant step, laying the institutional foundation for a new sector in the digital economy and opening up expectations for the formation of new growth drivers.

In his opening remarks, Mr. Nguyen Duc Thuan, Chairman of the Vietnam Association of Corporate Administrators (VACD), emphasized that Vietnam is entering a "pivotal" period towards the goal of becoming a developed nation by 2045. According to him, to achieve this goal, it is necessary to seek new markets and new channels for capital mobilization; in which digital assets can become an important component of the digital economy. "Digital assets are no longer just a matter of speculative bubbles but are gradually becoming a core structure of the global digital economy," he said.

Mr. Thuan expects that from January 1, 2026, when digital assets officially move out of the "grey area," Vietnam will have more transparent and legitimate channels for capital flow, contributing to unlocking resources for businesses. The important thing during this transition period is to find ways to maximize the value of this field, both technologically and in terms of policy.

Drawing on over 20 years of experience in finance, Mr. Nguyen Phu Dung, co-founder of PILA and a member of the Board of Directors of the Solaris Impact Fund, believes that Vietnam's path to sustainable development is closely linked to the Internet. He analyzes the shift from a "physical Vietnam" to a "digital Vietnam," where data becomes the primary language and the digital space opens up new frontiers for growth.

A major paradox, according to Mr. Dung, is that Vietnam's capital turnover rate is only about one-third that of Singapore. The reason lies in the fact that a large portion of capital is "locked" in collateral assets, primarily real estate, hindering innovative projects. Therefore, he proposed a national digital model comprising three layers: data, finance, and economy, to create a new structure for mobilizing and circulating resources.

From a legal perspective, Dr. Tran Quy, Director of the Vietnam Institute for Digital Economic Development, argues that the core issue of digital assets lies in the word "asset," meaning they must possess full legal attributes, while "digital" refers only to the operating environment. According to him, digital assets are essentially real assets mapped within a digital environment, requiring a new legal mindset and new management methods.

Dr. Quy described the digital asset ecosystem as comprising two main entities: digital assets (VAs) and digital asset service providers (VASPs), along with supporting units such as appraisal and custody. Resolution 05 allows five units to conduct pilot programs, and according to him, the issue is not about the number but about how to manage them so that assets operate within a complete ecosystem, ensuring trust.

He divided the market into the "hidden" part, where assets are created freely and lack regulations, and the "visible" part, where there is a legal and regulatory framework. The goal of Resolution 05 is to bridge the gap between the two parts through trust and technology.

When a new ecosystem forms: Policy - Technology - Market meet.

The discussion space at the forum also expanded to include the model of international financial centers in Ho Chi Minh City and Da Nang. Dr. Tran Quy noted that Vietnam has the advantage of being "late but at the right time," as the on-chain trend is strongly emerging worldwide . According to him, the model of a future international financial center cannot stand outside the digital asset ecosystem, in which the first pillar is the sandbox, a controlled testing mechanism.

From a local perspective, Mr. Tran Anh Tuan, Director of the Hanoi Department of Science and Technology, stated that the city is concretizing development orientations according to the amended Capital City Law of 2024 and Resolution 15 of the Politburo . Hanoi is the first locality to issue a resolution on a sandbox, identifying four priority groups, including digital assets. The city has also established a venture capital fund with seed capital of 600 billion VND and attracted approximately 10 strategic investors. Simultaneously, Hanoi is preparing to operate a Technology Exchange Platform, integrating the functions of a digital asset exchange platform.

From a technological perspective, Mr. Le Thanh (Ninety Eight) emphasized that blockchain, with its decentralized, transparent, immutable, and intermediary-free characteristics, creates core value in the form of "digital trust." Meanwhile, Mr. Nguyen Trung Trang, Product Director of SSI Digital, argued that blockchain is merely a platform, while digital assets are the crucial application. According to him, it's necessary to avoid the mindset of viewing digital assets as a speculative channel for "multiplying profits," because the sustainable trend should be "Tokenized Assets," assets tokenized based on real business operations and real cash flow, similar to a more flexible IPO model suitable for growing businesses.

Mr. Minh

Source: https://baochinhphu.vn/khai-pha-tai-san-so-tro-thanh-mot-dong-luc-tang-truong-moi-102251210183307818.htm