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Vietnam has just taken a major step toward becoming a global tech and crypto hub. On Saturday, the National Assembly approved sweeping legislation to legalize digital assets and offer generous incentives for sectors like semiconductors, artificial intelligence, and digital startups.
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With 441 out of 445 lawmakers voting in favor, Vietnam’s new Law on Digital Technology Industry provides legal clarity for digital assets created and authenticated using blockchain. The legislation separates digital assets into three distinct categories: virtual assets used for exchange or investment, crypto assets that rely on encryption for authentication, and other digital assets.
Crucially, none of these categories include securities, fiat-backed digital tokens, or instruments already covered under civil and financial laws. That distinction removes overlap with existing regulations and gives crypto-related businesses a framework they can operate under without conflict.
For years, Vietnamese startups have struggled with unclear laws, leading many to move operations to crypto-friendlier locations like Singapore. The new legal structure aims to reverse that trend by giving the domestic crypto sector firm footing.
Earlier this year, Prime Minister Pham Minh Chinh directed the Ministry of Finance and the State Bank of Vietnam to finalize crypto regulations in support of the country’s 8% growth target. Until now, there had been little official progress.
Vietnam’s crypto use, however, has not waited for government policy. Chainalysis ranked the country fifth in global crypto adoption in 2024. More than $105 billion in blockchain-related investments entered Vietnam during 2023–24, though most flowed through offshore channels that bypassed the local economy.
The new law aims to capture that capital locally by making Vietnam a more competitive and compliant market.
Digital asset regulation is just one part of the broader law. The legislation also focuses heavily on emerging tech, particularly semiconductors and artificial intelligence. The government aims to support 150,000 digital technology firms by 2035—up sharply from current levels.
Incentives include reduced corporate income tax (as low as 10% for 15 years), import duty waivers, and land rental exemptions. Foreign experts working on qualifying large-scale projects will also receive personal income tax exemptions for five years.
Projects involving over $80 million in data centers or more than $160 million in semiconductor facilities are eligible for extra incentives. These steps are designed to position Vietnam as a serious player in global tech supply chains, especially in chips and AI.
The government has explicitly stated its goal of becoming an “essential link” in the semiconductor supply chain. Backed by clear regulation and financial support, Vietnam is preparing to compete at a higher level in global technology and digital finance.