On June 29, the Government issued Decree No. 160/2025/ND-CP regulating the National Data Development Fund.
Decree No. 160 clearly states that the National Data Development Fund is a state financial fund outside the budget, operating not for profit and assigned to the Ministry of Public Security for management.
The fund has legal status, operating budget, separate financial statements, seals, and is allowed to open an account at the State Treasury and commercial banks operating legally in Vietnam in accordance with the provisions of law.
The Fund's operational goal is to support activities in developing and applying artificial intelligence technology, big data, machine learning, cloud computing, cloud chains, the Internet of Things and other technologies in data processing to serve state management, national interests, public interests, and socio-economic development.
In addition, the Fund promotes the application of data to serve national digital transformation; digital transformation in rural areas, mountainous areas, areas with difficult and especially difficult socio-economic conditions; scientific, technological activities, and data innovation.
Develop a network of experts, scientists, science and technology organizations, domestic and foreign data associations.
Invest in businesses and individuals to research solutions to increase data protection, transfer technology to data, innovate data, develop data-related technology applications to serve state management, national interests, public interests, and socio-economic development.
Support the organization of providing public services to overcome consequences, handle data security and safety incidents. Support development activities, application of important data, core data, data related to national defense, security, foreign affairs, etc.
The state budget provides capital for the Fund of 1,000 billion VND. Based on the ability to balance the budget, the Fund is supported with annual funding to ensure maintaining the level of VND 1,000 billion at the beginning of each fiscal year.
funding sources other than the state budget to support the Fund include revenue from the Fund's operational results (lending interest, deposit interest and other revenues); sponsorship, aid, contribution and donation from organizations and individuals; other sources according to the provisions of law.
The Ministry of Public Security uses the apparatus of a specialized agency to advise the Ministry of Public Security on state management of data as the Fund management agency.
The Fund management agency includes a Director, Deputy Directors, Chief Accountants, and a supporting staff.
The Decree specifically regulates the activities of receiving, managing and using sponsorship, aid, contributions, receiving entrustment and donating to the Fund.
Accordingly, for sponsorship, contributions, gifts in cash: the sponsor, contributor, gifts in cash or transfers to the Fund through the Fund's account opened at a commercial bank.
For sponsorship, contributions, gifts in kind or in other forms, the Fund and the sponsor shall make an agreement, contribute, donate and be shown in the documents and records for receiving sponsorship, contributions, and gifts.
For the trust to the Fund: the trustor will transfer the trusted amount in Vietnamese Dong or other foreign currency to the Fund through the Fund's account opened at a commercial bank.
