On August 9, in Ho Chi Minh City, the Ho Chi Minh City Technology Festival – Conviction 2025 officially kicked off. The event was organized by the Ho Chi Minh City Electronic Media Association, with the core being the Ho Chi Minh City Blockchain Association (HBA) and the Ninety Eight blockchain ecosystem.

The event focused on two cutting-edge technologies: Blockchain and Artificial Intelligence, which are among the strategic technologies of the country.

From National Strategy to the Need for完善Legal Corridor

Mr. Nguyen Thanh Hoa, Deputy Director of the Ho Chi Minh City Digital Transformation Center, said that the Law on Digital Industry has now been officially passed and will take effect from January 1, 2026. In addition, blockchain technology has become a national strategic technology according to Decision No. 1131/QD-TTg issued by the Government.

The development of blockchain technology will focus on three main areas: digital assets, digital money and cryptocurrencies, blockchain infrastructure and traceability systems.

Mr. Nguyen Thanh Hoa, Deputy Director of Ho Chi Minh City Digital Transformation Center. PHOTO: Ha Quyen

This creates opportunities for blockchain product developers to come into the light.

However, according to Mr. Hoa, to promote this group of products, more comprehensive and specific legal strategies are still needed. The reason is that, currently, when it comes to blockchain applications, people or investors still have many psychological barriers.

Mr. Hoa pointed out seven major barriers, including: barriers due to concerns about the value that blockchain brings; risk barriers; traditional barriers (cash payment habits); image barriers; technology demonstration barriers; and finally legal policy barriers.

Therefore, to promote the web3 market in particular and blockchain and AI in general, more support is needed from the legal corridor and supportive policies so that businesses can confidently develop.

From a financial perspective, Mr. Johan Nyvene, Chairman of HSC Securities Company, also expressed that in the past, encrypted assets, virtual assets, and virtual money were once considered very bad. However, currently, Vietnam has recognized encrypted assets, including traditional assets that are encrypted.

“This is a very good signal, especially when we are trying to build an international financial center in Ho Chi Minh City and Danang,” said Mr. Johan Nyvenve.

However, according to Mr. Johan Nyvene, in order to realize the international financial center, in addition to recognizing digital assets in the Law, the next step is to have more specific policies and legal frameworks to provide a sandbox mechanism for this field.

This will facilitate the creation of encrypted products, including the encryption of traditional assets for trading in the near future to attract international capital.

Ho Chi Minh City Technology Festival – Conviction 2025. PHOTO: Ha Quyen

Promoting Communication in the New Era

From a media perspective, Mr. Nguyen Quy Hoa, Chairman of the Ho Chi Minh City Electronic Media Association, said that in order to bring blockchain and AI deeper into life, it is necessary to further promote science and technology communication.

According to Mr. Nguyen Quy Hoa, Vietnam, especially Ho Chi Minh City, is entering a period of strong development of science and technology. This requires science communication to become a soft pillar, connecting scientists with the public, businesses, and policymakers.

Mr. Hoa set out five important missions for science communication, including: translating specialized knowledge into the language of life; building scientific trust and combating fake news; conveying profound content, connecting science with culture – education – art; promoting interdisciplinary cooperation; and developing a specialized communication team.

He also proposed the establishment of a science communication club in each ward and commune; giving high school students the right to create content; and developing a local digital platform to popularize knowledge for Vietnamese people. This is also a way to spread to users about the era of Blockchain and AI.

Ho Chi Minh City has many policies to promote digital assets

Ms. Nguyen Truc Van, Director of the Center for Simulation and Economic Forecasting, Ho Chi Minh City Institute for Development Studies, said that according to Resolution No. 222 of the National Assembly on the International Financial Center in Vietnam, there will be three fields with priority policies to support and promote development, including digital assets and fintech.

“Currently, the competent authorities are building eight decrees guiding the establishment of the International Financial Center in Ho Chi Minh City and Danang, including specific incentives related to digital assets,” emphasized Ms. Nguyen Truc Van.

According to the Ho Chi Minh City Blockchain Association, during the event on August 10, the Festival will witness signing ceremonies between partners in applying NFT and Blockchain in the field of luxury fashion to trace the origin of unique products and apply Blockchain in setting records.

THU HA

– 18:10 09/08/2025

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