Nguyen Trung Chinh, Chairman and Executive President of CMC Technology Group, made the proposal at the forum themed “Development model based on science–technology, innovation and digital transformation.”
According to Chinh, Vietnam’s economic growth over past decades has largely relied on labor expansion, capital accumulation, export promotion and deep global trade integration. However, as the country enters a higher development stage, this model is showing limitations, including declining low-cost labor advantages, slower improvements in capital efficiency, and increasing competition centered on productivity, technology and innovation.
    |
 |
|
Experience virtual reality technology at Nha Trang Center shopping mall (Khanh Hoa) |
He stressed that Vietnam needs a new growth engine in which data is recognized as a new production factor, while AI serves as the key tool to transform data into knowledge, products, services and competitive capacity. Three major mechanisms were identified through which the data–AI economy could drive breakthroughs: improving labor productivity on a broad scale; creating new industries such as Data-as-a-Service and AI-as-a-Service; and restructuring traditional sectors, including manufacturing, finance, healthcare, logistics and agriculture, towards smarter and more efficient operations.
Chinh proposed gradually developing a National AI Transformation Strategic Framework (AI-X) as a comprehensive roadmap to advance Vietnam towards an AI-driven economy. Under this approach, data forms the necessary foundation, while AI represents a higher value layer converting data into productivity and national competitiveness. The proposed framework comprises eight pillars, 12 programs and 50 strategic actions, aiming to contribute between 150 billion USD and 250 billion USD to Vietnam’s economy by 2045.
He also emphasized the need to improve institutions so that data is recognized as an economic asset, alongside completing legal frameworks for data and AI and establishing regulatory sandboxes for new business models. Priority areas include developing data infrastructure and markets, commissioning technology firms to master core technologies, investing in submarine fiber-optic cables, large-scale data centers and AI infrastructure, and establishing data exchanges alongside selective open public data mechanisms.
In addition, Chinh highlighted the importance of stronger cooperation between technology enterprises and universities in workforce training, promoting innovation ecosystems and investment funds in AI and data, and attracting international experts and overseas Vietnamese to participate in domestic research and development centers.
At the forum, Associate Professor, Dr. Nguyen Duc Minh, Vice President of the Vietnam Academy of Social Sciences, noted that science, technology, innovation and digital transformation have become indispensable drivers for all economies, stressing that these factors should be placed at the center of national development strategies.
Meanwhile, Dr. Nguyen Duc Hien, Deputy Head of the Party Central Committee’s Policy and Strategy Commission, underscored the need to reassess Vietnam’s development model after 40 years of Doi Moi (Renewal) scheme, distinguishing between national development models, economic development models and growth models. He also emphasized that integrating science and technology across sectors must be implemented flexibly in line with each sector’s characteristics, viewing technology as a key driver for improving development quality and efficiency.
Source: VNA