Prime Minister Pham Minh Chinh: Developing a data exchange with a pioneering institution, technology is a breakthrough, human resources are the key

Photo caption — Prime Minister Pham Minh Chinh chairs a meeting on developing data platforms in Vietnam. Photo: Duong Giang/VNA

Concluding the conference, the Prime Minister emphasized the motto "data must be listed, the State creates, enterprises pioneer, public and private sectors go together, the market leads, the country is rich and strong, the people are happy"; striving to complete the Vietnamese data exchange in November 2025.

The conference was attended by leaders of ministries, branches, central agencies; experts, scientists ; leaders of corporations in the field of technology and data. The conference aims to perfect institutions, policy mechanisms to build, manage, and exploit data; build a synchronous and connected data infrastructure; administer, manage and use data; attract and develop human resources and mobilize financial resources to invest in developing Vietnam's data platform.

Currently, advanced countries are rapidly building data economy development strategies, in which data platforms play the role of intermediary platforms connecting data providers and users. The world's data platforms are growing strongly with a total value of up to 344 billion USD in 2024 and could reach 655 billion USD in 2029.

In Vietnam, the data market alone is estimated to reach about 1.57 billion USD in 2024, and is forecast to reach about 3.53 billion USD by 2030. Vietnam's digital economy is expected to reach about 45 billion USD by 2025 and could reach about 90-200 billion USD by 2030. Therefore, Vietnam has great potential for the data market and the important role of the data platform in the overall national digital economic development strategy.

As a state management agency for data, promoting data exploitation to serve the development of Vietnam's digital economy and digital society, the Ministry of Public Security proposes orientations for the development of data exchanges in Vietnam. These include perfecting the data economic model; continuing to build a comprehensive legal framework for the development and management of data exchanges; ensuring data security and safety in exchange operations; developing a public-private partnership model in the data sector; strengthening human resource development and international cooperation related to data exchanges...

At the conference, delegates discussed and evaluated the current status of data floor development in the world; experiences in developing data floors in other countries; the situation of data floor development in Vietnam; orientation of data floor development in the overall goal of developing the national data economy; building a data ecosystem. At the same time, many issues on the development of Vietnam's data floor were proposed, such as classifying data to be put on the floor; determining data prices; scope of data use; rights and responsibilities of data users; privacy rights, intellectual property rights of data, etc.

In particular, delegates said that developing a data platform in Vietnam faces many challenges due to an incomplete legal framework; the risk of losing data security and safety is increasingly complex; the national database is still scattered and lacks uniformity; the licensing process and cooperation model still face many challenges; the technology platform is still limited...

Concluding the conference, emphasizing the importance, role and position of the data platform, Prime Minister Pham Minh Chinh said that by 2025, Vietnam aims for a growth rate of 8% or more. If it only relies on traditional driving forces such as investment, export and consumption, it will be difficult to achieve the target, so it must rely on new growth drivers such as the digital economy, including data.

Reiterating the opinion of General Secretary To Lam: "Data becomes an important resource and means of production", the Prime Minister said that currently, Vietnam has a huge source of data but it is scattered, fragmented, and has not been systematically exploited. Therefore, the construction and development of a data exchange in the current period is an inevitable and objective task, aiming to awaken and supplement the country's resources for socio-economic development.

According to the Prime Minister, the successful construction of a data exchange in Vietnam brings strategic and comprehensive benefits: forming a new type of market with high added value, directly contributing to economic growth, contributing to improving national competitiveness and business competitiveness; promoting the development of a professional, modern data service market of international and regional stature; developing technology and innovation, providing high-quality raw materials and data; improving national governance capacity, accelerating the process of standardization, transparency, interconnection, connection, and reuse of data between state agencies, between the public and private sectors, between domestic and foreign countries; ensuring national security, sovereignty and position, contributing to the development of a self-reliant economy associated with deep and effective international integration.

Presenting the political and legal bases and issues arising from the construction of a Vietnamese data floor, the Prime Minister requested to innovate thinking and action, demonstrate strategic vision with the highest political determination of the entire political system, business community and people; proceed according to an appropriate roadmap in the spirit of doing and learning from experience, not missing opportunities; building a data trading floor is not a data warehouse for buying and selling information but must be a platform to provide resources, increase the added value of data; develop a data floor with "pioneering institutions, infrastructure is the foundation, technology is the breakthrough, human resources are the key, efficiency is the driving force".

In that spirit, Prime Minister Pham Minh Chinh requested to build and implement a breakthrough data exchange development policy, promote controlled implementation; ensure a synchronous legal framework, meet practical requirements, protect the legitimate and legal rights and interests of participating entities; create all favorable conditions for participating entities with transparent administrative procedures and business regulations, not allowing the situation of "spreading the carpet above and spreading nails below" to occur; ensure the balance between the state, enterprises, and people, harmonious interests, shared risks; ensure property rights and freedom of creativity in business of entities; have a mechanism to monitor and manage security risks, data safety, absolutely comply with the law on data, protect personal data; build breakthrough revenue incentive policies suitable to the conditions for Vietnam to successfully develop a data exchange.

The Prime Minister assigned the Ministry of Public Security to review, supplement, and perfect institutions, create a synchronous, open, public, and transparent legal framework, and ensure the effective operation of the data exchange.

In particular, research on specific mechanisms and policies on public-private cooperation in developing data trading floors; research and develop regulations and guidelines on data pricing, develop monitoring and pricing mechanisms for data on trading floors and mechanisms for resolving disputes related to data. In the immediate future, the Ministry of Public Security will coordinate with relevant ministries and branches to research and deploy trial operation of data trading floors.

Stating the requirement for infrastructure development to ensure the operation of the data floor, the Prime Minister assigned the Ministry of Science and Technology to develop a mechanism for ordering and assigning scientific and technological tasks and innovation to public service units and start-up business organizations, and support the formation of large-scale strategic technology enterprises on data.

The Ministry of Industry and Trade develops a plan to ensure adequate energy supply. The Ministry of Public Security develops a unified technical standards framework for organizations and enterprises to ensure data security; studies the scale of the storage infrastructure of the National Data Center No. 1; promotes and prioritizes the deployment of strategic and modern technologies. The Ministry of Education and Training develops a plan to train high-quality human resources in data issues.

The Ministry of Science and Technology and the Ministry of Public Security develop an incubation project to support start-up businesses, implement research programs, develop data products and services, and solutions to develop databases on the data economy; and develop plans to attract domestic and foreign experts to develop data human resources.

The Ministry of Finance allocates sufficient budget resources for the construction and implementation of upgrading the scale of the national data center. The National Data Association, domestic organizations and enterprises actively participate in the national data exchange; strengthen cooperation and accompany ministries, branches and localities to develop the data market; promote the role of a bridge connecting and cooperating with international enterprises, networks and data markets.

Emphasizing that building a data exchange is a new and difficult task, but it cannot be avoided, for the benefit of the nation, the people, and businesses, Prime Minister Pham Minh Chinh requested ministries, branches, localities, and businesses to only discuss work, not backtrack; in the spirit of "not being hasty, not being perfectionist, not missing opportunities", building a data exchange ensures "breakthrough thinking, decisive action, substantial results, and benefits for the people".

Source: https://daibieunhandan.vn/thu-tuong-pham-minh-chinh-phat-trien-san-giao-dich-du-lieu-voi-the-che-tien-phong-cong-nghe-la-dot-pha-nhan-luc-la-then-chot-10393984.html