“The Power Move: Chairman Nguyễn Duy Hưng’s Speech Pivot”

On December 3rd and 4th, the Vietnam Tech Impact Summit 2024 (VTIS2024) took place at the National Convention Center, focusing on four main themes: AI, Fintech, Blockchain, and Game technology. Alongside the insightful discussions, the event also featured fashion shows, cosplay, and musical performances.

Kicking off the summit, Mr. Nguyen Duy Hung, Chairman of SSI Securities Corporation, shared his insights on the pervasive presence of AI, blockchain, and game technology in our society and families, no longer confined to mere ideas and stories.

Mr. Hung cited Forbes’ data, revealing that Vietnamese people rank second globally in terms of ownership and interest in digital assets. Notably, ten of the largest trading organizations worldwide attended the event, acknowledging that the Vietnamese market is among the top four in terms of trading volume.

“However, we lack a clear legal framework to provide certainty to businesses and investors, foster development, and prevent fraud in the digital space. While tangible assets can be physically secured within our borders, digital assets know no boundaries. Without a legal foundation, we risk individuals taking these assets to other countries,”

emphasized the Chairman of SSI.

Mr. Hung initially planned to speak on a different topic, but after conversing with the program’s sponsors, he decided to shift his focus. He seized the opportunity to advocate for a legal framework that supports the growth and well-being of the community and the nation.

“We need a method to reassure investors and technology innovators, protecting and enabling their development. We should not have a situation where entrepreneurs have to set up businesses in Singapore or the US and then return to Vietnam to hire talent, effectively operating production here but without being recognized as a Vietnamese enterprise,”

he asserted.

We aspire for a legal foundation that assures investors in digital assets that their holdings will be legally recognized and allows them to pay taxes openly. Only then can these assets be considered clean and legitimate.

A transparent legal framework is imperative to protect developers and investors, preventing fraud and manipulative schemes in the market. We also need government support in fostering the growth of businesses and entrepreneurs in this field.

Mr. Hung, along with Mr. Truong Gia Binh, Chairman of FPT Corporation, expressed their eagerness to financially contribute to this community but lacked clarity on the means to effectively support the growth of businesses and entrepreneurs.

Emphasizing the importance of a robust legal framework, Mr. Hung believes that Vietnam requires international cooperation, which can be facilitated by showcasing the potential contributions and benefits for international organizations in this market.

From a personal standpoint, Mr. Hung advocates igniting the patriotic spirit of the nation’s young and tech-savvy population, channeling their passion into contributions to the country’s development. To achieve this, he underscores the necessity of a digital asset market, where assets are recognized and individuals are free to decide, buy, and sell, thus attracting resources and participants.

“If we don’t ignite the fire today, there may never be a blaze tomorrow. If we miss this opportunity with digital assets, we may not get another chance to elevate ourselves to new heights,”

Mr. Hung concluded.