Establishment of National Data Development Fund, capital of 1,000 billion VND

On June 29, the Government issued Decree No. 160/2025/ND-CP regulating the establishment of the National Data Development Fund. This is a non-budgetary state financial fund, operating not for profit and assigned to the Ministry of Public Security for management.

The Fund has legal status, operating budget, separate financial reports, seal, and is allowed to open accounts at the State Treasury and commercial banks operating legally in Vietnam in accordance with the law.

The Fund's operational objective is to support development activities and application of artificial intelligence technology, big data, machine learning, cloud computing, blockchain, Internet of Things and other technologies in data processing to serve state management, national interests, public interests, and socio -economic development;

Promote the application of data to serve national digital transformation; digital transformation in rural, mountainous areas, areas with difficult or especially difficult socio-economic conditions; scientific , technological and innovative activities in data;

Develop a network of experts, scientists, scientific and technological organizations, and data associations at home and abroad;

Investing in businesses and individuals researching solutions to increase data protection, transferring data technology, innovating data, developing data-related technology applications to serve state management, national interests, public interests, and socio-economic development;

Support organizations providing public services to overcome consequences and handle incidents related to security and data safety. Support activities to develop and apply important data, core data, data related to defense, security, foreign affairs, etc.

The State budget provides capital for the Fund with 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 1,000 billion VND at the beginning of each fiscal year.

Non-state budgetary sources supporting the Fund include: Revenue from the Fund's operating results (loan interest, deposit interest and other revenues); grants, aid, contributions and donations from organizations and individuals; other sources as prescribed by law.

The Ministry of Public Security uses the apparatus of the specialized agency advising the Ministry of Public Security on state management of data as the agency managing the Fund.

The Fund Management Body consists of the Director, Deputy Directors, Chief Accountant and support staff.

The Decree also provides specific regulations on the activities of receiving, managing and using sponsorship, aid, contributions, entrustment and donations to the Fund.

Accordingly, for sponsorship, contribution, and donation in cash: the sponsor, contributor, or donor can make a cash transfer or transfer money to the Fund through the Fund's account opened at a commercial bank.

For sponsorship, contributions, and gifts in kind or other forms, it shall be carried out according to the agreement between the Fund and the sponsor, contributor, or donor and shall be stated in the documents and records of receiving sponsorship, contributions, or gifts.

For entrustment to the Fund: the entrusting party will transfer the entrustment amount in Vietnamese Dong or other foreign currency to the Fund through the Fund's account opened at a commercial bank.

Thanh Ha

Source: https://baophapluat.vn/thanh-lap-quy-phat-trien-du-lieu-quoc-gia-von-1000-ti-dong-post553484.html