Unlocking Vietnam’s $1.3 Trillion Potential: Newly Established Agency Aims to Drive Growth in Key Sector

This esteemed institution boasts a world-renowned professor as its honorary director.

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The field in question is quantum computing.

According to a recent estimate by McKinsey & Company, quantum computing could generate up to $1.3 trillion in value across various sectors by 2035. This is not without foundation, as experts believe this technology could revolutionize cryptography, finance, science, and transportation. Additionally, it can solve problems that would take traditional computers thousands of years in just minutes or hours.

On November 26th, during Deputy Prime Minister Nguyen Chi Dung’s meeting with the Innovation Network and Vietnamese experts on strategic technology development at the NIC Hoa Lac campus, Dr. Nguyen Quoc Hung, Director of the Quantum Technology Institute at Hanoi National University, shared several proposals on quantum technology.

Deputy Prime Minister Nguyen Chi Dung chairs the meeting with the Innovation Network and Vietnamese experts. Photo: MH

According to Dr. Nguyen Quoc Hung, the 2025 Nobel Prize in Physics honored research in quantum technology. “This is not only an academic recognition but also a signal to the world that superconducting quantum technology is highly feasible, competitive, and robust, with numerous potential applications,” Dr. Hung emphasized.

Reporting to the Deputy Prime Minister, Dr. Nguyen Quoc Hung stated that he has spent many years conducting in-depth research in superconducting quantum technology. Notably, from 2016 to 2018, he directly participated in and led a research group for Microsoft.

Dr. Nguyen Quoc Hung, Director of the Quantum Technology Institute, Hanoi National University, addresses the Deputy Prime Minister. Photo: MH

“From hands-on experience at the ‘headquarters’ of leading global technology clusters, I see that we are at a decisive technological crossroads. Specifically, the world is transitioning from an era of manually crafted but highly noisy and small quantum computers…

However, this is an opportunity and a golden moment for Vietnam to join this race. Because this is the time to master noisy superconducting quantum computing technology and then move into manufacturing less noisy quantum computers,” Dr. Nguyen Quoc Hung shared.

According to the Director of the Quantum Technology Institute, Hanoi National University, mastering this phase could help Vietnam establish a solid foundation and springboard to manufacture quantum computers with practical applications in the near future.

“If we miss this phase, we will continue to lag and have to purchase technology at a very high cost, entirely dependent on foreign sources… The Quantum Technology Institute is fully capable and equipped to realize this ambition,” Dr. Nguyen Quoc Hung expressed to the Deputy Prime Minister.

According to him, in reality, Hanoi National University has received close attention and guidance from the Central Steering Committee for Science, Technology, Innovation, and Digital Transformation (under Resolution No. 57-NQ/TW of the Politburo) and has identified quantum technology as a key investment area for the university.

Furthermore, in terms of human resources, the Quantum Technology Institute was established within the Innovation Park of Hanoi National University. Notably, the Institute’s two honorary directors are Prof. Alexey Ustinov (the first to build a quantum computer in Russia and a leading global expert in quantum technology) and Prof. Le Duc Anh (well-known in the semiconductor community at the University of Tokyo).

“These two directors ensure that we will gather a high-quality team with deep expertise in this strategic technology. Thus, we have the workforce, knowledge, and are on the same starting line as many other nations in manufacturing less noisy quantum computers,” Dr. Nguyen Quoc Hung shared.

Image of Google’s research team developing technology beyond the capabilities of current supercomputers. Photo: Google Quantum AI/PA

With these realities and advantages, Dr. Nguyen Quoc Hung proposed to the Deputy Prime Minister and the Government to designate superconducting quantum computing as a national strategic technology product and implement it immediately (if possible, within 2025).

“We cannot hesitate. Because this will help us establish technological sovereignty in the quantum computing era. On behalf of the VnQuantum network, where I serve as Vice Chairman, we commit to having the capability and readiness to undertake this mission to help Vietnam secure its place on the global quantum technology map,” Dr. Nguyen Quoc Hung stated.

The Quantum Technology Institute was established over 6 months ago

In fact, on May 15, 2025, Hanoi National University officially established the Quantum Technology Institute with four main objectives. First, to build research infrastructure and manufacture quantum technology devices. Second, to master core technologies, particularly superconducting quantum computing. Third, to establish international cooperation networks and train high-quality human resources. Finally, to develop a quantum technology ecosystem for science and innovation.

This is also a concrete realization of Resolution 57-NQ/TW (December 22, 2024) on scientific breakthroughs, technology, innovation, and digital transformation; Decision 1131/QD-TTg on strategic technologies; and Resolution 71-NQ/TW (August 22, 2025) on developing elite universities, emphasizing the role of leading higher education institutions in cutting-edge technology research.

In 2025, the Quantum Technology Institute aims to develop superconducting quantum computing chips. By 2026, in collaboration with the International University, Hanoi National University, it plans to launch a Master’s program in Quantum Communication, Vietnam’s first postgraduate program in this field.

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