Data Business: Creating Value for Society, Opening Opportunities for Investors

If we want to turn data into a strategic resource, we must identify the problem to be solved and the beneficiaries. On that basis, the entire process, from infrastructure investment, technology to data business models, etc., is formed, aiming to create value for society and open up opportunities for investors.

Mastering data will master the future

In the summer of 2023, my family and I returned to Ho Chi Minh City and experienced the services of technology car brands. At that time, the application still had many errors, the drivers were confused and did not know the roads well. In the summer of 2025, I had the opportunity to return to Ho Chi Minh City and when using technology car services, the feeling was much "smoother".

Through the story, we can see that technology car service is not only a trip with a fare, but also a stream of data that is always updated and upgraded: routes, travel habits, time, vehicles... If that data is in the hands of Vietnamese businesses, it will be a resource for the state and society to solve problems related to traffic, environment and further, create a foundation for cutting-edge industries such as artificial intelligence (AI). Only when we master the data, will we master the future.

Therefore, supporting domestic services is not only a consumption choice, but also an investment for tomorrow. That is how each citizen can contribute a small part to help Vietnam have a firmer foothold in the digital and green era that is approaching very soon.

Experts test the installation of a smart electrical system using a phone at the Saigon Exhibition and Convention Center (SECC), Ho Chi Minh City. Photo: Hoang Hung

Equifax is one of the three largest and oldest data companies in the United States. What makes Equifax a special choice is its 120-plus-year history of pioneering the way data becomes a business asset: building data-driven monetization models. Equifax has built a closed-loop process: data is filtered and standardized, then processed and analyzed using advanced models to predict risk.

Finally, all are “packaged” into data products and provided to banks, insurance, and enterprises as business solutions.

From the Equifax example and international experience, Vietnam can see models, such as industry-specific data, and from there create a data exchange with licensing regulations, transparent pricing tables, and a sandbox for businesses to experiment under the supervision of associations and state agencies.

The decentralized data federation model is the vision to be realized. With a focus on federated learning and on-premises computing, it allows organizations to extract value from data without having to move the raw data out.

Through the data workshop held in Ninh Binh in August 2025 with the participation of 120 foreign experts, it was shown that building data principles is very important. First, any exploitation of personal data must have a legitimate purpose and clear consent from the user.

Next, data is a strategic national asset that needs to be shared conditionally, prioritized in safety, transparency, and traceability. Data exploitation needs to be done step by step, measuring social benefits before expanding business models.

Identify benefits for everyone

Data is an asset that needs to be used for the benefit of all, and here are the four-way benefits of exploiting data. First, at the national level, aiming to attract domestic and foreign investment flows into priority areas, especially innovation in data development.

For businesses or investors, they need to benefit from risk sharing mechanisms, legal support, etc. to help reduce concerns when participating in new projects. Consumers will directly benefit from cheaper, faster and safer services from data applications. The National Data Association plays a role in promoting users and businesses to participate in the data ecosystem, thereby indirectly adding new data sources.

Facial recognition to manage smart lockers at a supermarket in Ho Chi Minh City. Photo: Hoang Hung

Right now, Vietnam can pilot a priority in data mining. Specifically, in urban transportation, aggregated data from ride-hailing, parking, public transport... will help reduce waiting time, optimize travel flow. Or promoting traceability through NDA Trace will bring many benefits such as data development, creating an endogenous data cycle when buyers of products or goods are guaranteed transparent traceability, while sellers affirm their reputation, reducing the risk of fraud... From here, data helps optimize production and distribution of businesses.

The international market has proven the role of live data in the economy . For example, in the US, the Global Food Traceability Center has reduced product recall costs by up to 90% thanks to end-to-end traceability; Walmart and IBM Food Trust Network have traced fruits and vegetables from farm to table in real time, creating strong trust from consumers.
Countries like Canada, Sweden, Switzerland... have applied blockchain technology to make supply chains transparent and enhance national prestige.

LUONG CONG DANH - Director of Information Technology, Fuel Venture Capital

Source: https://www.sggp.org.vn/kinh-doanh-du-lieu-tao-gia-tri-cho-xa-hoi-mo-co-hoi-cho-nha-dau-tu-post810496.html