October 30, 2025
Vietnam Tech Infrastructure: Q3 Outlook
Regulation Meets Real-World Infrastructure: Vietnam’s Push for AI, DePIN and Digital Assets
Vietnam Steps Into Its Digital Decade
Between July and September 2025, Vietnam quietly became one of Asia’s most watched laboratories for the convergence of AI infrastructure, blockchain regulation, and real-world digital transformation. A national crypto pilot, a state-backed blockchain platform, record data-center investment, and rapid EV policies all point to the same thesis: Vietnam is moving from “talking about digitalization” to building the infrastructure that powers it.
This quarter’s APAC Tech Infrastructure Watch: Vietnam Deep Dive unpacks how these moves reshape the landscape for DePIN, AI, RWA, and Stablecoin builders.
🏛️ Policy & Regulatory Shifts
Vietnam launches a five-year crypto pilot (Resolution 05/2025/NQ-CP)
On September 9, 2025, the government enacted Resolution 05/2025/NQ-CP — the country’s first comprehensive digital-asset pilot program.
All issuers must be Vietnamese-incorporated companies.
Trading and settlement must be conducted in Vietnamese đồng (VND).
Tokens must be backed by real-world assets, excluding fiat-backed stablecoins and tokenized securities.
Licensed service providers (CASPs) must meet strict cybersecurity and capital thresholds.
Opportunities: The framework favors real-world, asset-based token models — think DePIN mining rewards, carbon credits, or verified device data — over speculative tokens.
Challenges: The high compliance and capital requirements risk concentrating participation among large, bank-linked or state-owned entities, leaving smaller builders sidelined.
NDAChain — Vietnam’s national blockchain platform goes live
July 2025 saw the launch of NDAChain, a permissioned blockchain integrated with the National Data Center and Digital ID infrastructure. Operated by 49 validators from government agencies and enterprises, it serves as a trust layer for identity, traceability, and compliance.
Why it matters: For DePIN and RWA, NDAChain is effectively a sovereign ledger for verifying devices, transactions, and assets. It opens the door for machine IDs, supply-chain audits, and tokenized infrastructure credits.
Risk: Its permissioned design could limit interop with public chains. Success depends on open APIs and cross-chain standards in 2026.
🏗️ Infrastructure & Industry Moves
Data-Center Boom Makes Vietnam a Compute Hotspot
Vietnam is fast becoming a regional data-center hub. According to Cushman & Wakefield, Vietnam ranked #2 in APAC for DC investment returns (YoC ~18%).
Why it matters: This explosion in compute infrastructure underpins AI training, edge inferencing, and Compute DePIN growth — particularly for decentralized GPU networks seeking low-cost deployment.
Risk: Energy constraints and carbon targets may limit capacity growth if grid modernization lags.
Public Security Ministry takes control of FPT Telecom
On July 16, 2025, Reuters reported that the Ministry of Public Security (MPS) had officially acquired the state’s ~50% stake in FPT Telecom from SCIC.
Why it matters: This consolidates control over internet infrastructure, giving the state tighter oversight of data flows — relevant to AI data governance and DePIN network routing.
Risk: While improving national cybersecurity, it could deter foreign investors concerned about neutrality and data access.peering for private AI/cloud providers and slow foreign infra investment.
EV Revolution Accelerates with Hanoi Ban on Fossil Motorbikes
A July directive bans fossil-fuel motorbikes in central Hanoi within 12 months, expanding city-wide by 2028. VinFast and Honda already adjust two-wheeler production.
Why it matters: Creates massive demand for decentralized charging, battery-swap and telemetry networks — the core of mobility DePIN models.
Risk: Charging infrastructure lags policy speed; without community operators and energy subsidies, implementation could stall.
Source: Reuters Policy Brief.
VinFast pivots to Asia with India Factory Launch (Aug 4)
VinFast opened a $2 billion EV plant in Tamil Nadu (50 000 units/year phase 1), part of its shift from the U.S. market toward Asia.
Why it matters: Combines Vietnam’s industrial know-how with regional supply chains to support cross-border DePIN energy and mobility infrastructure pilots.
Risk: Execution and after-sales service remain weak points as VinFast competes with Chinese and Indian OEMs.
Vietnam launches Quantum & Cybersecurity Networks (Aug 25)
Three national technology networks — VNQuantum, ViSecurity, and UAV Vietnam — were unveiled to link research labs, startups and state agencies.
Why it matters: Builds the human capital and research pipeline for AI, secure comms and edge devices — key long-term inputs for DePIN compute and data sovereignty.
Risk: Networks risk becoming symbolic unless grants and industrial procurement follow.
⚖️ Risks & Reality Check
Power bottlenecks: Energy efficiency and grid upgrades remain the make-or-break factor for AI and DC growth.
Compliance overhead: Crypto pilot rules could discourage startups without bank-grade capital.
Centralization tension: State-led chains (NDAChain) might limit open innovation if not made interoperable.
🔮 Outlook & Opportunities for Builders
Compute & AI DePIN:
Data-center liberalization + AI talent programs create white-space for GPU leasing and edge training nodes.
Energy & Mobility DePIN:
EV mandates and urban bans open opportunities for battery swap operators and IoT telemetry platforms.
RWA & Digital ID:
With real-asset-backed tokens allowed under Resolution 05 and NDAChain providing traceability, expect pilot projects in logistics, carbon credits, and supply-chain finance.
Policy Collaboration:
Regulators actively solicit sandbox partners for AI and digital identity; timing is ideal for public-private pilots.
“Vietnam’s next phase is about building usable, compliant infrastructure that serves real-world applications. The DePIN builders who plug in early will define its standards.” — SEA DePIN Analyst Team
✍️ About This Series
APAC Signals is a quarterly intelligence series by SEA DePIN, tracking how Web3 infrastructure are reshaping Asia-Pacific. We connect projects with real-world users, enterprises and regional partners to turn vision into traction.
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