Vietnam Tech Impact Summit 2024: Forging a Tech-Driven Future
On December 3rd, SSI Securities Corporation, in collaboration with the FPT Group, hosted the “Vietnam Tech Impact Summit 2024.” Mr. Nguyen Duy Hung, Chairman of SSI Securities, shared that the event aimed to bring forth new technological solutions to foster the development of the country, businesses, and individuals alike.
Mr. Hung highlighted that technologies such as blockchain, AI, and gaming, which were once mere ideas, have now permeated every aspect of Vietnamese family life. He cited a Forbes statistic stating that Vietnam ranks second globally in terms of digital asset ownership and interest. Additionally, Vietnamese digital asset trading platforms are ranked fourth in the world by transaction value.
“Digital assets are no longer just a concept for Vietnamese people; they have become an integral part of their daily lives,” shared Mr. Nguyen Duy Hung. “However, we lack a clear legal framework to provide peace of mind for businesses and investors, protecting them from fraud perpetrated by malicious entities in the digital realm.”
The entrepreneur emphasized the contrast between tangible and digital assets in Vietnam. While physical assets are governed by borders and customs regulations, digital assets remain unbounded. He asserted the need for a legal foundation to retain and develop digital assets within the country.
Through this forum, Mr. Hung appealed to governing bodies and the government to establish a legal framework for digital assets, contributing to the nation’s progress. Vietnam also requires a legal structure to safeguard and promote the interests of investors and technology innovators.
Mr. Hung further elaborated on the need for a clear legal framework to empower entrepreneurs and startups. Currently, many are compelled to establish their businesses abroad and then return to Vietnam to recruit talent, resulting in a “production furnace” within the country. Paradoxically, enterprises founded by Vietnamese individuals are not recognized as Vietnamese entities, and their assets do not belong to Vietnam.
“Investors require a legal framework to gain recognition, protection, and transparency in tax payments,” asserted Mr. Nguyen Duy Hung. “Only when taxes are paid openly can these digital assets be considered clean, preventing fraud and exploitation.”
The Chairman of SSI Securities also petitioned the government to extend support to businesses and entrepreneurs in the digital asset arena. Both Mr. Hung and Mr. Truong Gia Binh, Chairman of the FPT Group, expressed their willingness to invest significantly in this domain but are hindered by the absence of a legal framework. Additionally, Vietnam can benefit from enhanced international cooperation and investment in this sector.
“With a clear legal framework, I firmly believe that our nation, fueled by its tech-savvy youth, will emerge as a regional hub for digital assets,” stated Mr. Hung. “Numerous countries have already embraced digital assets as an indispensable component of their financial landscape. We must regulate, tax, and retain control to ensure our children have a platform to thrive.”
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