On March 25, the Vietnam Economic Forum 2026 took place at the International Convention Center, 11 Le Hong Phong Street, Ba Dinh District, Hanoi, under the theme “A development model based on science and technology, innovation, and digital transformation.” The event was organized by the Vietnam and World Economy Institute under the Vietnam Academy of Social Sciences, bringing together representatives of central agencies, ministries, experts, scientists, research institutes, universities, the business community, and the media.

The opening remarks were delivered by Dr. Dang Xuan Thanh, Vice President of the Vietnam Academy of Social Sciences. The keynote report was presented by Dr. Nguyen Duc Hien, Deputy Head of the Party Central Committee’s Policy and Strategy Commission. Presentations and panel discussions focused on clarifying the scientific and practical foundations for shaping a new development model for Vietnam in the 2026-2030 period and beyond, with science and technology, innovation, and digital transformation identified as new pillars of growth.

Within that broader discussion, the presentation by Nguyen Trung Chinh, Chairman of the Board and Executive Chairman of CMC Corporation, offered a notable policy suggestion: developing the data economy as a new growth driver for Vietnam, while gradually moving from a data economy mindset toward an AI economy, in which artificial intelligence is no longer merely a supporting tool but becomes a core production infrastructure of the digital economy.

From the traditional growth model to a new growth driver built on data and AI

According to the presentation, Vietnam has achieved many years of growth based on labor force expansion, capital accumulation, export promotion, and deep integration into global trade. However, as the economy moves into a higher stage of development, this model is increasingly showing its limits: the advantage of low-cost labor is narrowing, the efficiency of capital use is becoming harder to improve significantly, and competitive pressure is shifting more clearly toward productivity, technology, and innovation.

From that reality, Nguyen Trung Chinh argued that Vietnam needs a new development driver, in which data must be recognized as a new factor of production, while AI serves as the key tool to transform data into knowledge, products, services, and competitive capability. If data is the input material of the digital economy, then AI is the engine that creates new value from that material.

The presentation also identified three mechanisms through which the data economy and AI can generate breakthroughs: improving labor productivity at scale; opening up new economic sectors such as Data-as-a-Service and AI-as-a-Service; and restructuring existing sectors such as manufacturing, finance, healthcare, logistics, and agriculture to make them smarter, more precise, and more efficient.

Photo 1: Nguyen Trung Chinh, Chairman of the Board and Executive Chairman of CMC Corporation, presents on developing the data economy as a new driver of Vietnam’s growth model.

Proposal for a National AI Transformation Strategy Framework (AI-X)

One of the most notable new points in the presentation was the proposal to look beyond the data economy and gradually build a National AI Transformation Strategy Framework, or AI-X, as a comprehensive development roadmap to guide Vietnam toward an AI economy. Under this approach, data is a necessary condition, but AI represents the higher-value layer where data is transformed into productivity, products, services, and national competitiveness.

The presentation emphasized that the world is entering a stage in which AI is no longer simply a technology tool, but a core production infrastructure, similar to electricity in the industrial economy or the Internet in the digital economy. On that basis, AI-X was proposed as a strategic framework with a guiding role, helping Vietnam move from building a data foundation to reorganizing its growth model on the basis of AI.

Under the proposal, the National AI Transformation Strategy Framework suggested by CMC consists of 8 pillars, 12 programs, and 50 strategic actions, with the goal of contributing between USD 150 billion and USD 250 billion to Vietnam’s economy by 2045, thereby helping position Vietnam as one of the region’s leading AI economies.

Seen in the broader context of national development, the AI-X proposal shows that the presentation does not stop at policy recommendations for the data economy, but opens up a higher level of thinking: from digitizing data to building an AI economy, and from fragmented technology applications to a nationally coordinated transformation strategy based on AI as a new growth engine.

Photo 2: Nguyen Trung Chinh proposes a National AI Transformation Strategy Framework (AI-X) comprising 8 pillars, 12 programs, and 50 strategic actions, aimed at building Vietnam’s AI economy.

Improving the regulatory framework so that data can become an asset

The first major group of proposals highlighted by Nguyen Trung Chinh focused on institutions and regulation. In his view, one of the biggest current bottlenecks is that data has not yet been fully recognized as an asset within the economy.

Vietnam still lacks specific regulations on data valuation, data ownership, rights to use data after transactions, and sufficiently clear mechanisms to protect corporate digital assets. As a result, the presentation proposed the early completion of a more coherent legal framework for data and AI, together with sandbox mechanisms that would allow businesses to test new models, validate new initiatives, and contribute to policy refinement based on real-world practice.

Building data infrastructure and data markets to pave the way for the digital economy

Alongside institutions, the presentation placed strong emphasis on data infrastructure and data markets. It argued that the state should establish mechanisms to commission and assign major domestic technology enterprises to research and master core technologies, while also supporting private-sector participation in investing in new international submarine fiber-optic cables, hyperscale data centers, and essential infrastructure for AI development. It also stressed the need for a competitive electricity mechanism for data centers.

At the same time, the presentation called for the development of a data market, from launching data exchanges and piloting a national data exchange to building sector-specific data exchanges, together with selective public data sharing through open-data portals and APIs so that businesses have more “raw material” to develop AI solutions.

Investing in talent and R&D to turn direction into real capability

Beyond institutions, infrastructure, and markets, the presentation also underscored the importance of talent and research and development. The proposed solutions included deeper cooperation between technology companies and universities in designing training programs, updating skills, and aligning education more closely with market demand; strengthening the role of innovation funds, innovation centers, and startup support ecosystems in AI and data; and introducing policies to attract international experts and overseas Vietnamese professionals to join R&D centers in Vietnam.

Taken together, the proposals presented at the Forum show that data and AI are being positioned at a much broader level than the conventional understanding of technology application. This is no longer just about deploying software or introducing new tools into businesses. It is about a development model, a policy framework, and national capacity building. The message is clear: if Vietnam wants to shift from a growth model driven mainly by capital, labor, and scale expansion to one driven by productivity, technology, and knowledge value, then data, AI, and a National AI Transformation Strategy Framework must be placed at the center of its new development strategy.