The Law on Digital Technology Industry is not only a specialized law, but is also expected to be an institutional lever for the national digital transformation process. This is a golden time for Vietnam to build a proactive legal foundation, paving the way for domestic technology enterprises to develop firmly, integrate deeply and contribute to creating a new position for Vietnam in the digital age.

Vietnam is the first country to promulgate the Law on Digital Technology Industry

Vietnam also became the first country in the world to promulgate a separate law on the field of digital technology industry.

The Law on Digital Technology Industry has promptly institutionalized many important contents in Resolutions No. 57-NQ/TW and Resolution 68-NQ/TW of the Politburo, such as promoting, incentivizing, and supporting the development of digital technology enterprises, especially private enterprises;

Developing high-quality human resources, digital technology talents; developing essential, shared digital technology infrastructure; supporting innovative startups; building an ordering mechanism and building a legal framework for controlled testing...

The Digital Technology Industry Law focuses on increasing the proportion of domestic technology products in the industry through strategic solutions and specific support policies.

The 15th National Assembly passed the Law on Digital Technology Industry with 441 out of 445 delegates in favor.

Foreign-invested enterprises (FDI) are encouraged to transfer technology and cooperate with domestic enterprises through corporate income tax incentives for many years if they meet this requirement.

Domestic startups receive 50% funding support to purchase advanced technology and develop prototypes, helping to improve the production capacity of "Make in Vietnam" products. Domestic digital technology products are given priority for use in state budget projects, ensuring a stable and sustainable output market.

Research and development (R&D) activities enjoy maximum incentives, including tax exemptions and financial support, to promote creativity and innovation, helping Vietnamese products not only meet domestic needs but also be competitive in the international market.

The Law on Digital Technology Industry is not only a legal document, but also a compass to solve major problems of the digital technology industry.

These are important challenges to turn digital technology into the main driving force for economic growth, enhancing national competitiveness and improving people's quality of life.

At the same time, the law also helps Vietnam position itself in the global technology value chain, competing with the world's leading digital economies.

In addition, the Law on Digital Technology Industry also poses a number of major problems and solutions for the digital technology industry to become a key economic driver with a growth rate 2-3 times higher than GDP.

The Law on Digital Technology Industry offers special incentive policies and breakthrough solutions. Projects with large investment capital enjoy preferential corporate income tax reduction for many years, financial support from the Development Investment Fund and research and development (R&D) costs are calculated double, even triple for small and medium enterprises.

Administrative procedures are simplified through the mechanism of decentralizing the authority to establish digital technology industrial parks to provincial People's Committees and applying the "green channel" customs priority regime.

The State prioritizes investment in essential infrastructure such as data centers and 5G networks, while encouraging private enterprises to participate in developing modern infrastructure. The domestic market is expanded by promoting the use of "Make in Vietnam" technology products in budget projects and ordering strategic technology development.

Promoting Vietnamese enterprises to the world

The Law on Digital Technology Industry aims to bring Vietnamese digital technology enterprises to international markets, increase revenue and affirm global brands.

The "Make in Vietnam" program is standardized, implementing trade promotion activities and supporting enterprises to expand foreign markets.

Domestic digital technology products are given priority in public procurement projects, creating a solid foundation for developing the domestic market before expanding internationally.

Projects with large investment capital enjoy corporate income tax reduction incentives for many years, financial support from the Development Investment Fund, and import tax exemption for high-tech equipment.

In particular, the State builds a network of representatives of Vietnam's digital technology industry in key markets, combined with international cooperation programs, helping Vietnamese enterprises gradually become multinational companies, competing equally with large technology corporations in the world.