Vietnam has officially announced its national strategy on the application and development of blockchain technology, aiming to establish itself as a leading player in the blockchain industry by 2025, with a long-term vision to 2030. is listed. This strategy is outlined in Decision No. 1236. The QD-TTg was signed by Deputy Prime Minister Ho Duc Phuc and highlights blockchain as one of the key drivers of the Fourth Industrial Revolution. The government’s focus on blockchain technology is aimed at strengthening digital infrastructure, ensuring reliability and security, and contributing to the broader growth of Vietnam’s digital economy.
Key goals for 2030
The national strategy sets ambitious goals for Vietnam’s blockchain landscape by 2030, aiming to establish the country as a regional leader in blockchain research, deployment and application. Its goals include the creation of 20 prominent blockchain brands in platforms, products and services that are recognized across the region. Additionally, the government plans to maintain at least three blockchain testing centers or special zones in major cities to form a nationwide blockchain network. Vietnam also aims to place its educational institutions among the top 10 blockchain training and research centers in Asia.
To support these goals, the government has developed an action plan for 2024-2030. The program includes five main activities: improving the legal environment, developing blockchain infrastructure and ecosystem, cultivating blockchain talent, promoting blockchain development and application, and strengthening research, innovation, and international cooperation. Contains. Various ministries, such as the Ministry of Information and Communications and the Ministry of Education and Training, oversee and implement these activities.
Accelerating blockchain innovation and collaboration
One of the key aspects of the national blockchain strategy is the active role assigned to the Vietnam Blockchain Association (VBA). VBA will collaborate with various ministries and agencies to focus on developing a “Made in Vietnam” blockchain platform. The association will work on creating a framework for the operation and interaction of blockchain networks within the country’s infrastructure. Additionally, it will help integrate local technology companies to foster growth in the blockchain sector, facilitate information sharing, and strengthen competitiveness against foreign companies.
VBA Executive Vice Chairman Phan Duc Trung said in a statement that the National Blockchain Strategy is an important step for blockchain development in Vietnam. The joint efforts of government initiatives, regulatory bodies and the blockchain community demonstrate a concerted push towards a transparent, secure and sustainable digital economy. Mr. Trung emphasized the importance of VBA’s role and emphasized its responsibility to advance the blockchain industry through research and practical application, as outlined in the national strategy.
He also noted that universal access to blockchain is a key goal of the strategy, and the potential of blockchain technology to transform Vietnam’s digital economy. He believes this will bring tangible benefits and foster digital economic growth in line with the government’s vision.
Strengthening the legal framework for digital assets
In parallel with the national blockchain strategy, Vietnam is also making progress in legal recognition of digital assets. The Digital Technology Industry Bill, which was considered by the Parliamentary Standing Committee in October 2023, marks the first formal recognition of digital assets as intangible assets protected by law. This legal definition covers property rights related to digital assets under civil law, intellectual property law, and other relevant legal frameworks.
Legalizing digital assets is part of Vietnam’s efforts to combat financial crimes such as money laundering and terrorist financing. The government’s goal is to remove Vietnam from the Financial Action Task Force (FATF) gray list by May 2025. The inclusion of digital assets in the legal framework is one of the measures under the National Action Plan, aimed at strengthening financial supervision and improving finance. Compliance with international regulations.
Since Vietnam was included in the FATF gray list in 2023, VBA has actively contributed to the development of the legal framework for virtual assets. This includes holding workshops, providing written feedback, and working with regulatory bodies to ensure the framework is practical for Vietnam and aligned with global standards.
Vietnam’s national blockchain strategy and accompanying legislation reflect a clear commitment to advancing the blockchain and digital asset sector. The country continues to foster innovation, build infrastructure, and strengthen legal protection, and is positioned to become a major player in the global blockchain ecosystem.
