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.

Why it matters: On-shore, VND-settled rails + KYC/custody = what enterprises require for RWA tokens, device-data credits, and compliant DePIN rewards.

Challenges: Concentrated licenses and conservative listing rules may sideline long-tail DePIN tokens; integration costs rise for startups.

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: Sovereign trust layer for machine IDs, telemetry provenance, and asset proofs—useful for device verification, supply-chain audits, and tokenized infra 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%).

• Viettel’s 140MW DC expansion in Hoa Lac Tech Park.

• CMC Telecom’s hyperscale DC to reach 120 MW.

• New telecom law (effective July 2025) allows 100% foreign ownership of cloud/DC providers.

Why it matters: More racks + domestic hosting = lower-latency, residency-friendly paths for GPU DePIN, storage, and edge inference.

Challenges: 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: Greater state oversight may stabilize outages but centralizes gatekeeping on interconnects, VPNs, cross-border data flows used by decentralized networks.

Challenges: 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.

5G commercialization push; coverage hits ~26%

Govt reports ~26% population coverage (July) and pushes faster commercialization toward 100 Mbps averages.

Why it matters:

• Denser 5G = lower latency and higher uptime for sensor fleets, mapping, factory/port edge nodes.

Challenges:

• Spectrum/backhaul/device-certification bottlenecks can delay SLAs

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 UAV Vietnam, VNQuantum, ViSecurity innovation networks (Aug 25)

National networks announced to connect labs, startups, and agencies around aerospace/UAVs, quantum, and cybersecurity.

Why it matters: Creates policy cover and talent pipelines for teleoperation, aerial sensing, and secure edge devices—all inputs for DePIN mapping and industrial automation.

Challenges: 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.