Following its ratification by the National Assembly, the full text of the 2024 Data Law has been published, with details available via the link in the comment. Below we would like to share certain salient aspects of the law.

Data as an Asset

Article 6.1 stipulates that data is a resource, and the state has policies to mobilize it into an “asset.”

Originality

Data in the National Integrated Database has the same value for exploitation and use as original data. Original data is created to have the same value as original documents, papers, and other digitized materials.

Actions on Data

The provision, creation, collection, classification, analysis, synthesis, storage, governance, management, access, retrieval, connection, sharing, coordination, verification, disclosure, encryption, or risk identification and management in data processing must all be detailed by the Government.

For cross-border data transfer and processing, the law allows agencies, organizations, and individuals to freely transfer data from abroad to Vietnam and process foreign data in Vietnam according to Vietnamese laws. Conversely, the answer awaits further decrees and guiding documents.

Standards and technical regulations on data will be issued by the Ministry of Public Security in coordination with relevant agencies, except for the list of standards and technical regulations on data in the fields of national defense and cryptography.

National Comprehensive Database, National Data Center

The National Data Center will integrate and manage the National Integrated Database based on data collected, updated, and synchronized from various sources as prescribed. National databases must use the infrastructure of the National Data Center.

Data Products, Services, and Data Exchange

Data products and services are diverse, ranging from intermediaries, analysis, and synthesis, to data platform services. Corresponding to each type of activity, the law specifies the groups of entities allowed to participate. For example, organizations providing data exchange services must be public non-business units or state-owned enterprises that meet service provision conditions and are licensed to provide relevant services.

Investment Incentives

Priority is given to building and developing data in economic and social fields to serve national digital transformation and the digital economy. Investment in building and developing the National Comprehensive Database, the National Data Center, and creating mechanisms to encourage and incentivize human resources, domestic and foreign investment in data fields and data market development is promoted.

Organizations providing intermediary data products and services, data analysis, and synthesis enjoy incentives similar to enterprises operating in high-tech, innovative, creative startups, and digital technology industries.

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