(MENAFN) The Vietnamese government is launching a national data development fund with an initial budget of 1 trillion Vietnamese dong (roughly 38.3 million U.S. dollars), as reported by a news agency on Monday.

This non-profit fund is designed to catalyze the growth and widespread application of advanced technologies, including artificial intelligence (AI), big data, machine learning, cloud computing, and blockchain. With a clear focus on digital transformation, the fund aims to foster innovation in key technological fields that are crucial for Vietnam’s future economic and technological development.

Moreover, the fund will place a strong emphasis on supporting data-driven initiatives tied to the nation’s defense and security needs, as well as its foreign policy objectives. The Vietnamese government sees these sectors as pivotal to national stability and global competitiveness.

The fund will be managed and overseen by the Ministry of Public Security, which will ensure that these resources are directed efficiently towards the most strategic and impactful projects in the country. This move signals Vietnam’s growing commitment to strengthening its technological infrastructure while securing its position in the global digital economy.

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