Hanoi (VNA) – As Vietnam shifts towards a growth model driven by productivity, innovation and digital transformation, experts say unlocking the value of data, considered a strategic resource, will be essential to sustaining long-term economic growth.
According to Prof. Dr Tran Tho Dat, former President of the National Economics University, economic growth has traditionally relied on capital and labour. However, in the digital era, data has become a fundamental production factor that not only complements these traditional inputs but also enhances total factor productivity and improves resource allocation.
He said data plays a dual role in Vietnam’s development strategy: serving as a new engine of economic growth and facilitating the transition to a greener and more sustainable development model.
In recent years, ministries, sectors and localities have accelerated efforts to build digital infrastructure and develop data platforms to support governance and business activities.
The Ministry of Agriculture and Environment, for example, has adopted a sectoral data strategy through 2030 with a vision to 2035, alongside digital and data architecture frameworks aligned with the national data system. It has implemented 21 sector-specific databases and four shared information systems, and has completed connectivity with all 12 national and specialised databases required by the Government.
One notable achievement is the launch of the national agricultural product traceability system, which currently covers more than 18,500 products, 919 consignments, 547 farming households, 255 growing areas and 149 enterprises. The system is expected to improve transparency across agricultural value chains and strengthen the international competitiveness of Vietnamese farm produce.
Hanoi has also identified data as a strategic asset underpinning the development of digital government, the digital economy and digital society. According to Cu Ngoc Trang, Director of the municipal Department of Science and Technology, the capital has shifted beyond simply digitising administrative procedures to restructuring workflows, opening and sharing data, integrating databases and promoting data reuse for evidence-based governance.
All 17 municipal departments have now opened their datasets, making available 93 datasets in total. The city has also developed extensive databases covering public assets, investment projects, land administration, education, public employees and electronic health records, contributing to more efficient public administration and better services for citizens and businesses.
Despite these advances, experts note that significant challenges remain in turning data into economic value.
According to the Hanoi Department of Science and Technology, data remains fragmented across sectors, while information sharing between national and specialised databases is still incomplete. The use of digital data to fully replace paper-based records and generate broader socio-economic value also remains limited. In addition, shortages of highly skilled professionals in data science, AI, cybersecurity, digital architecture and technology commercialisation continue to constrain development.
Researchers also point to a considerable gap between data accumulation and effective data utilisation. They note that without an appropriate institutional framework, the growing concentration of data could lead to market dominance by a limited number of enterprises. Clear regulations on data ownership, access rights, personal data protection and fair competition are therefore essential to ensure efficient allocation and use of data resources.
The experts also stressed that the State should play the role of a "market builder" by providing open public data, establishing technical standards and fostering trust in data transactions. An efficient data market, they said, will ensure that data flows to sectors where it generates the greatest economic value, thereby improving the economy's overall efficiency./.
VNA
