Key takeaways
1. National Strategy for Blockchain Application and Development
Overview
The National Strategy for Blockchain Application and Development was issued on 22 October 2024, highlighting Vietnam's acknowledgment of blockchain as a crucial technology in the digital era. These strategies present ambitious goals and comprehensive action plans to harness transformative technologies for national advancement and modernization.
Key goals and objectives
- By 2025, Vietnam aims to establish a robust blockchain ecosystem, including a national blockchain infrastructure, pilot testbeds, support interoperability, sharing between blockchains and promote the integration of blockchain into key sectors like finance, healthcare, and education.
- By 2030, the nation seeks to expand its blockchain infrastructure, gain international recognition in blockchain development and foster homegrown blockchain brands.
Action plan
The strategy sets out a phased approach to blockchain adoption, including five key tasks:
- Develop a legal framework for blockchain application and development
- Establish blockchain infrastructure and a blockchain industry ecosystem
- Cultivate a skilled blockchain workforce
- Promote blockchain adoption in various sectors
- Encourage research, innovation and international collaboration
2. Strategy for Semiconductor Industry Development
Context
The Strategy for Semiconductor Industry Development, released on 21 September 2024, addresses the growing importance of semiconductors in the digital economy and Fourth Industrial Revolution. The strategy identifies Vietnam's potential to participate in the global semiconductor supply chain, capitalizing on its geopolitical advantages and human resources.
Development formula
The strategy proposes a unique development formula: C = SET + 1. The symbols in this formula mean the following:
- C: semiconductor chips, with a focus on specialized chips for IoT, AI and industrial automation
- S: specialized chips, to meet specific requirements in sectors like telecommunications, healthcare, transportation and energy
- E: electronics industry, to create a domestic market for semiconductor chips
- T: talent development, to establish Vietnam as a global semiconductor workforce hub
- +1: Vietnam's unique position as a safe and reliable investment destination
Vision and goals
The strategy outlines a three-phase vision:
- 2024-2030: attract FDI, develop a global semiconductor workforce and establish capabilities in all stages of semiconductor production
- 2030-2040: become a global semiconductor and electronics hub, with a mix of domestic and FDI-driven growth
- 2040-2050: lead in semiconductor and electronics innovation, with mastery of research and development
Key tasks and solutions
The strategy identifies five core tasks:
- Develop specialized chips
- Grow the electronics industry
- Cultivate and attract semiconductor talent
- Attract investment in the semiconductor sector
- Establish a national steering committee and expert group for guidance and coordination
Conclusion
To achieve the set goals, the strategies outline several specific tasks for various ministries, branches and government agencies. Notably, the Ministry of Information and Communications and the Ministry of Science and Technology will play a central role in implementing these strategies.
Vietnam's proactive approach to blockchain and semiconductor technologies demonstrates its commitment to technological advancement and economic growth. The nation's clear visions, objectives and action plans reflect its determination to harness the power of these technologies for national development and modernization. By fostering innovation, attracting investment and cultivating a skilled workforce, Vietnam is poised to become a major player in the global technology arena.
