The Digital Technology Industry Law, the first of its kind in Vietnam and considered pioneering globally, comprehensively regulates the digital technology sector, encompassing digital assets, artificial intelligence (AI), the semiconductor industry, and digital technology workforce development.
For the first time, digital assets are legally recognized, defined as intangible assets in the form of digital data, created, issued, stored, transferred, and authenticated through digital technology in an electronic environment (excluding securities or digital fiat currency). The law outlines provisions for ownership rights, transactions, security, dispute resolution, and measures to prevent money laundering and terrorism financing.
Alongside digital assets, artificial intelligence (AI) is identified as a core technology to enhance national productivity and competitiveness. The law establishes principles for AI development and management, emphasizing a human-centered approach, transparency, accountability, and ethical standards. It mandates risk control measures for AI, including clear notifications to ensure user awareness. The law also promotes AI research through financial incentives and international cooperation.
The semiconductor industry, a strategic sector in the global value chain, is prioritized for development with significant incentives, including corporate income tax breaks, financial support from the Digital Technology Industry Development Fund, and infrastructure provision.
A key pillar of the law is its policies for developing the digital technology workforce, seen as a driving force for Vietnam’s breakthrough in the digital era. To attract talent, the law offers a five-year personal income tax exemption for digital technology experts, long-term residence permits, and housing support. The state prioritizes investment in advanced training programs for AI, big data, and blockchain, collaborating with enterprises. Notably, public officials can be seconded to private enterprises while retaining their salary and position.
The law establishes a transparent legal framework, fostering the digital economy and innovation, enabling Vietnam to integrate into global technology trends.
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