Nghị định 160/2025/NĐ-CP quy định về Quỹ Phát triển dữ liệu quốc gia

DECREE

ON NATIONAL DATA DEVELOPMENT FUND

Pursuant to Law on Government Organization dated February 18, 2025;

Pursuant to Law on State Budget of Vietnam dated June 25, 2015;

Pursuant to Law on Data dated November 30, 2024;

At the request of the Minister of Public Security;

The Government issues a Decree on national data development fund.

Chapter I

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Article 1. Scope and regulated entities

1. This Decree elaborates Clause 4 of Article 29 of the Law on Data on the establishment, management and use of the National Data Development Fund.

2. This Decree applies to the National Data Development Fund, agencies, organizations and individuals related to the administration, management, organization, and operation of the National Data Development Fund.

Article 2. Establishment of the National Data Development Fund

The Government establishes the National Data Development Fund (hereinafter referred to as “Fund”) to promote the development, use, application, and administration of national data.

Article 3. Legal status juridical person status of the Fund

1. The National Data Development Fund is an off-budget state financial fund with non-profit operations that is managed by the Ministry of Public Security.

2. The Fund has a juridical person status, an operating budget, separate financial statements, a seal, and is entitled to open accounts at the State Treasury and commercial banks legally operating in Vietnam in accordance with the law.

Article 4. Operational objectives of the Fund

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2. To promote the application of data in national digital transformation; digital transformation in rural, mountainous areas and areas with socio-economic disadvantages or extremely socio-economic disadvantages; and activities concerning science, technology, and innovation in data.

3. To develop a network of experts, scientists, scientific and technological organizations, and data-related associations both domestically and internationally.

4. To invest in enterprises and individuals engaged in researching solutions to improve data protection, technology transfer related to data, data innovation, and the development of technology applications related to data serving state management, national interests, public interests, and socio-economic development.

5. To assist and commend organizations and individuals with achievements in building, developing, protecting, administrating, and processing data; and to assist organizations and individuals providing data to the Communist Party of Vietnam’s agencies, State agencies, the Vietnam Fatherland Front, and socio-political organizations.

6. To assist organizations providing public utilities to remedy consequences and handle incidents related to data security and safety.

7. To assist activities related to the development and application of important data, core data, and data related to defense, security, and foreign affairs.

8. To assist international cooperation activities related to data.

Article 5. Term interpretation

For the purpose of this Decree, the terms below shall be construed as follows:

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2. Data technology refers to artificial intelligence, big data, machine learning, cloud computing, blockchain, IoT, virtual reality, augmented reality, and other technologies in data processing.

3. Subsidy refers the provision of funds to organizations and individuals for building, developing, protecting, administrating, and processing data.

4. Capacity building assistance refers to the Fund directly carrying out activities related to investment, procurement, and resource allocation to organizations and individuals for building, developing, protecting, administrating, and processing data.

5. Entrusted capital is the amount of money that the trustee transfers to the settlor to carry out the entrusted content.

6. Fund’s manager means the person holding the position of Director, Deputy Director, or Chief Accountant of the Fund

7. Donation refers to a grant in cash or kind originating from sources outside the state budget, with specific conditions, objectives, and subjects from organizations or individuals (donors) to the Fund to carry out activities prescribed in Chapter IV hereof.

8. Contribution refers to a non-refundable contribution in cash or in kind from organizations or individuals (contributors) to the Fund to carry out activities prescribed in Chapter IV hereof.

9. Entrustment to the Fund means that organizations or individuals (settlor) entrust a capital amount in cash to the Fund (trustee) to carry out activities prescribed in Chapter IV hereof. The trustee shall bear all risks, and the settlor is entitled to receive a trust fee.

10. Entrusted lending activity of the Fund refers to activity where the Fund (settlor) entrusting a bank (trustee) to conduct lending activities in accordance with regulations in Chapter IV hereof.

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1. The receipt, management, and use of donations, aids, contributions, trust, and gifts must ensure that:

a) The receipt, management, and use of donations, aids, contributions, trust, and gifts in cash or in kind or in other forms of the organizations/individuals must be transparent;

b) The receipt, management, and use of donations, aids, contributions, trust, and gifts must comply with regulations of Vietnamese law, international treaties to which Vietnam is a signatory; the acceptance of entrusted capital must ensure compatibility with the Fund’s repayment capacity;

c) Donations, aids, contributions, trust, and gifts that harm national interests, security, defense, or violate laws on anti-corruption, anti-money laundering, terrorism financing, and other activities against the law shall not be accepted;

d) Organizations/individuals voluntarily donate or contribute without attached conditions may transfer money into the Fund’s account without having to comply with Articles 12, 13, 14, and 15 hereof.

2. The lending, assistance, and investment activities of the Fund must ensure that:

a) They are conducted transparently, openly, and efficiently, avoiding wastefulness, ensuring capital safety, and complying with applicable regulations;

b) Each organization or individual may borrow loans, receive assistance, or investments from the Fund in various forms;

c) Organizations and individuals declare and are accountable for the data and information declared by them in their applications for loans, assistance, or investments;

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dd) Assistance shall not be provided to organizations or individuals that have already received assistance from other sources of the State for the same items;

e) The Fund does not provide subsidies for organizations or individuals that have donated, contributed, entrusted, or gifted to the Fund.

Article 7. Tasks and powers of the Fund

1. Tasks of the Fund

a) Perform tasks aligned with the operational objectives of the Fund;

b) Receive, manage, and use capital in accordance with applicable regulations;

c) Comply with regulations on reporting and accounting;

d) Comply with inspections and audits conducted by competent state regulatory authority in accordance with the law;

dd) Provide data and disclose the Fund’s operational regulations, financial mechanisms, operation results, and the annual audited financial statements as prescribed by law.

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a) Organize and operate in accordance with the rules and objectives of the Fund;

b) Periodically and unexpectedly inspect and supervise the use of the Fund’s capital; recover loan fund and subsidies from organizations or individuals violating the conditions and commitments signed with the Fund;

c) Invest in infrastructure, equipment, and facilities to achieve the Fund’s operational objectives;

d) Allocate expenditures for investment, activities concerning science, technology, and innovation in data as prescribed;

dd) Entrust banks to offer loans with preferential interest rates; provide subsidies to organizations and individuals to promote activities in line with the Fund’s objectives;

e) Organize capacity-building activities for organizations and individuals in accordance with the regulations herein and relevant laws;

g) Hire organizations, experts, and scientists to assist the Fund’s operations; cooperate with educational institutions in assisting the Fund’s training activities; implement or use consulting services to assess the capacity of start-ups;

h) Use the Fund’s idle operating budget to make deposits with a maximum term of 12 months at commercial banks for the purpose of preserving and developing the Fund’s operating budget.

Article 8. Operating Budget of the Fund

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2. The Fund’s non-state budget funding sources include:

a) Proceeds from the Fund’s operations: interest from loans, interest from deposits, and other proceeds;

b) Donations, aids, contributions, trust, and gifts of the organizations and individuals;

c) Other sources as prescribed by law.

Chapter II

ORGANIZATIONAL STRUCTURE OF THE FUND

Article 9. Managing body of the Fund

1. The Ministry of Public Security shall use the apparatus of the advisory body assisting the Ministry of Public Security in state management of data for the managing body of the Fund.

2. The Managing body of the Fund includes the Director, Deputy Directors, Chief Accountant, and assistance apparatus.

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4. The Deputy Directors and Chief Accountant of the Fund shall operate on a concurrent basis and are appointed or dismissed by the Minister of Public Security at the request of the Director of the Fund.

5. The assistance apparatus is responsible for professional tasks and operations; advise and assist the Director of the Fund. The assistance apparatus of the Fund includes:

a) Officers and soldiers of the People’s Police assigned to carry out the Fund’s professional operations either concurrent or full-time as decided by the Director of the Fund;

b) Employees recruited by the Fund under employment contracts.

6. The working policies, tasks, and powers of the Fund’s managing body are specified in the Fund’s organizational and operational charter issued by the Minister of Public Security.

Article 10. Council of experts

1. The Director of the Fund shall decide the establishment, structure, and number of members of the Council of experts of the Fund to perform one or several tasks within a specified period stated in the establishment decision or to dissolve automatically upon task completion.

2. The Council of experts shall appraise and assess schemes, projects, plans for business and production, and programs applying for loans, assistance, or investment of organizations and individuals; advise the Director of the Fund on other activities.

3. Members of the Council of experts include: Deputy Directors of the Fund, experts, scientists, and reputable domestic and foreign managers with high professional qualifications, selected from the Fund's list of experts based on professional achievements and credibility in the fields of data, finance, and information technology.

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5. The operating expenditures of the Council of experts and expenditures for hiring experts shall be funded by the operating budget of the Fund.

Chapter III

RECEIPT, MANAGEMENT, AND USE OF DONATIONS, AIDS, CONTRIBUTIONS, TRUST, AND GIFTS

Article 11. Methods of receiving donations, contributions, trust, and gifts

1. Donations, contributions, and gifts in cash: shall be given to the Fund in cash or via transfer to the Fund’s account opened at a commercial bank.

2. Donations, contributions, and gifts in kind or other forms shall comply with the agreement between the Fund and the donor or contributor, which shall be recorded in the relevant documents and application for donations, contributions, or gifts.

3. For trusts: The settlor shall transfer entrusted funds in VND or other foreign currencies to the Fund via the Fund’s account opened at a commercial bank.

Article 12. Authority to approve and prepare documents, applications for donations, contributions, trusts, and gifts

1. Authority to approve donations, contributions, trusts, or gifts:

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b) The Director of the Fund shall approve the receipt of donations, contributions, trusts, and gifts of the Vietnamese organizations and individuals; If donations, contributions, trusts, or gifts are not qualified, the Fund shall inform the donor, contributor, settlor, or giver about such matter;

2. For donations, contributions, trusts, or gifts required approval from the Minister of Public Security:

a) The Fund shall take charge in preparing the document and application for receiving the donations, contributions, trusts, or gifts;

b) The Fund shall cooperate with domestic organizations and the donor, contributor, settlor, or giver during the preparation of such document and application;

3. For donations, contributions, trusts, or gifts required approval from the Director of the Fund, the Fund shall cooperate with domestic organizations and the donor, contributor, settlor, or giver during the preparation of the document and application;

4. The Fund shall be responsible for implementing and ensuring the progress, quality, and content of the documents and application for donations, contributions, trusts, or gifts;

Article 13. Contents of the document on the receipt of donations, contributions, trusts, or gifts

The document on the receipt of donations, contributions, trusts, or gifts shall including the following main contents:

1. The context and necessity of the receipt of donations, contributions, trusts, or gifts, clearly stating the issues that the donations, contributions, trusts, or gifts will be used to address.

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3. The expected results from using the donations, contributions, trusts, or gifts and the indicators to measure these results.

4. Time of implementation of donations, contributions, trusts, or gifts and implementation location.

5. Commitments and conditions for the donations, contributions, or trusts; obligations and commitments of the Fund regarding the use of the donations, contributions, trusts, or gifts.

6. The total value and capital structure of the donations, contributions, trusts, or gifts.

7. Counterpart fund and guarantee source (if any).

8. Methods of organizing, managing, and implementing donations, contributions, trusts, or gifts.

9. Plans for implementing donations, contributions, trusts, or gifts.

10. The effectiveness, applicability of results to practice, and sustainability of the implementation of the donations, contributions, trusts, or gifts.

Article 14. Appraisal of donations, contributions, trusts, and gifts

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2. The Ministry of Public Security shall assign an affiliate to take charge in organizing the appraisal of donations, contributions, trusts, or gifts required approval of the Minister of Public Security.

3. The Fund shall organize the appraisal of donations, contributions, trusts, or gifts required approval of the Director of the Fund.

4. The unit in charge of the appraisal may invite specialized units, consulting organizations, and independent experts to assist the appraisal of the documents and applications for donations, contributions, trusts, or gifts.

5. The unit in charge of the appraisal shall prepare a dossier of such appraisal, including:

a) The Fund’s application for approval of the document and application for donation, contribution, trust, or gift;

b) The written consent of the donor, contributor, settlor, or giver regarding the contents of the donation, contribution, trust, or gift;

c) A written confirmation of the value of the donated or contributed assets and an valuation certificate for the assets donated, contributed, or gifted issued by a legal and qualified valuation organization recognized by Vietnam (if any);

d) Appraisal report;

dd) Other relevant documents (if any).

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a) Compliance of data, arguments, calculations, conclusions, and proposals in the appraised applications with applicable law;

b) Feasibility of the donation, contribution, trust, or gift;

c) Reasonableness of the use of the donation, contribution, trust, or gift for the operations of the Fund;

d) Existing issues or shortcomings found, solutions, handling measures, responsible organizations, and deadlines for resolution;

dd) Commitments in case of changes in mechanisms, policies, differences in procedures for receiving and implementing the donation, contribution, trust, or gifts, as well as the requirements and conditions of the donor, contributor, settlor, or giver (if any);

e) The Fund’s capacity in organizing and managing the implementation (including financial capacity);

g) The effectiveness, applicability of results to practice, and sustainability of the implementation of the donation, contribution, trust, or gift;

h) Opinions agreed upon or still differing among involved parties;

i) Proposal on whether the Fund may accept and implement the donation, contribution, trust, or gift;

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l) Information on registration of operation, business registration, and juridical person status of the organization as the donor, contributor, settlor, or giver, or legit information about the individual as the donor contributor, settlor, or giver in Vietnam.

7. During the appraisal process, the unit in charge of the appraisal shall report to the competent authority to seek opinions from relevant agencies and units. Agencies and units participating in the appraisal are accountable to the law for the appraisal content within their jurisdiction.

Article 15. Conclusion on documents on the receipt of donations, contributions, trusts, or gifts

1. The document, decision on approval of the receipt of the donation, contribution, trust, or gift shall including the following main contents:

b) Feasibility of the donations, contributions, trusts, or gifts;

b) Donee, recipient, trustee, or giftee: National Data Development Fund; name of the organization or individual as the donor, contributor, settlor, or giver;

c) Objectives and main results of the donation, contribution, trust, or gift;

d) Implementation period and location;

dd) Total value and capital structure of the donation, contribution, trust, or gift.

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a) The signing of the document or agreement on donation, contribution, trust, or gift shall only be conducted after receiving approval from the competent authority for acceptance thereof and after the Fund officially notifies the donor, contributor, settlor, or giver in writing;

b) The Director of the Fund shall sign the document and agreement on donation, contribution, trust, or gift with the donors, contributors, settlor, or giver as regulated;

c) Information disclosure: Within 10 days from the signing date of the document on donation, contribution, or trust, the Fund shall disclose such information on the Fund’s official website and at the Fund’s offices.

Article 16. Receipt of donations, contributions, trusts, or gifts

1. For donations, contributions, trusts, or gifts in cash:

a) The Fund shall open detailed accounting books to separately track the amounts of donation, contribution, trust, or gift;

b) The Fund shall open an account at a commercial bank to receive the donation, contribution, trust, and gift via bank transfer.

2. For donations, contributions, trusts, or gifts in kind or other forms:

The Fund shall carry out the handover procedures, prepare the necessary conditions to properly store, and preserve the donations, contributions, trusts, or gifts in kind or other forms a convenient and timely manner.

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1. For donations, contributions, trusts, or gifts approved by the Minister of Public Security:

a) Adjustments, amendments shall be made when there are changes in long-term objectives (if any), short-term objectives, organization, management, implementation methods, key results, and implementation locations of the approved donations, contributions, trusts, or gifts; or if there is a progression adjustment exceeding 24 months compared to the approved schedule, these matters must be reported to the Minister of Public Security for review and decision;

b) Within 10 days from the date of receiving the adjustment proposal, the unit in charge of appraisal shall submit it to the Minister of Public Security for a decision on adjustment or amendment to donations, contributions, trusts, or gifts.

2. For donations, contributions, trusts, or gifts approved by the Director of the Fund.

a) If the adjustment or amendment resulting in the donations, contributions, trusts, or gifts to be approved by of the Minister of Public Security, the unit in charge of appraisal shall take charge and cooperate with the Fund in reporting to the Minister of Public Security for review and decision;

b) Any adjustments or amendments other than those specified in point a of this clause shall be decided by the Director of the Fund;

c) Within 10 days from the date of approving the adjustment or amendment to donations, contributions, trusts, or gifts, the Director of the Fund shall make a decision such adjustment or amendment.

Article 18. Use of donations, aids, contributions, trusts, or gifts

The Fund shall use donations, aids, contributions, trusts, or gifts and profits generated from these sources to:

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2. Offer loans, provide assistance, and investments in accordance with Chapter IV hereof and the requirements of the settlor or donor, ensuring compliance with this Decree.

Chapter IV

LOAN TRUST, ASSISTANCE, AND INVESTMENT

Section 1. Loan trust

Article 19. Form of loan trust

1. The Fund shall entrust state-owned commercial banks and policy banks (hereinafter referred to as banks) to carry out lending activities.

2. The banks accepting the trust from the Fund shall operate according to regulations on the trust and trust acceptance of credit institutions and according to the agreement between the Fund and the banks.

3. Loans shall be provided in the form of secured loans.

Article 20. Borrowers and loan requirements of the Fund

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a) Data-related product and service providers;

b) Organizations executing projects on production and business involving the application of science, technology, and innovation in building, developing, protecting, administrating, processing, and using data;

c) Organizations executing data technology development projects.

2. Borrowers must satisfy the following requirements:

a) Have juridical person status established according to Vietnamese law;

b) At the time of loan application, have no tax debts or bad debts at credit institutions or foreign bank branches (FBBs).

3. Production and business projects specified in Clause 1 of this Article must satisfy the following requirements:

a) The technology used in the project must be legally owned or used by the organization and not listed in the List of technologies restricted or prohibited for transfer;

b) The project’s products must be manufactured and circulated in compliance with applicable laws.

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1. The interest rates for short-, medium-, and long-term loans shall be 80% of the lowest corresponding commercial lending interest rate. The lowest commercial loan interest rate shall be determined based on the average interest rate of loans of the four largest state-owned commercial banks by total assets at the time of setting the lending interest rates of the Fund.

2. Annually or periodically, based on the rules for determining the interest rate as specified in Clause 1 of this Article, the Director of the Fund shall announce the lending interest rates of the Fund.

3. The loan trust fee is the amount the Fund pays to the bank for providing loan trusts, agreed upon by both parties and in accordance with applicable laws.

Article 22. Loan limit and loan term

1. The total loan amount from the Fund to a single organization shall not exceed 15% of the Fund’s actual operating budget at any time.

2. The loan tenure shall be determined based on the borrower’s capital recovery and repayment capacity of, and the specific conditions of each production or business project but shall not exceed 05 years.

Article 23. Application and procedures for loan trust

1. The organization shall submit an application for a loan as prescribed by law.

2. The bank shall receive the application and appraise it for applicants satisfying requirements specified in Article 20 hereof. Within 15 working days from the date of receiving the adequate application, the bank shall appraise it and notify the Fund of the appraisal results.

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a) Application form for loan trust from the bank;

b) Documents specified in clause 2 of this Article;

c) The business project dossier and other documents proving the organization’s eligibility for a loan specified in Article 20 hereof.

4. The Fund shall receive and assess the application for loan trust and decide whether to approve or refuse such application. Within 10 working days from the date of receiving the adequate application, the Fund shall notify the bank in writing of its approval or refusal to the application. In case of refusal, the Fund shall notify the bank in writing and state the reasons for refusal.

5. After approving the bank’s application, the Fund shall transfer the entrusted capital to the bank.

Article 24. Loan trust agreement

1. The Loan trust agreement between the Fund and the bank must be made in the form of a contract, including the following contents:

a) Information about the juridical person of the Fund and the bank, location, and signing time of the contract;

b) Agreements on the loan amount, purpose of the loan, loan tenure, loan currency, lending interest rate, collateral, receipt of loan capital, repayment of principal, collection of interest and principal, overdue debt transfer, debt rescheduling, validity of the loan trust agreement;

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d) Rights and obligations of the settlor and the trustee, clearly stipulating that the settlor bears all risks and is entitled to all benefits arising from the loan trust, while the trustee is entitled to the trust fee.

2. In addition to the contents specified in Clause 1 of this Article, the parties may agree on other contents in accordance with relevant applicable laws.

3. The loan agreement between the bank and the client must comply with the loan trust agreement between the Fund and the bank and other relevant applicable laws.

Article 25. Rules for handling credit risks

1. The handling of risks must be based on the causes of the risks, the level of risk, production and business situation, financial status, and the repayment capacity of the organization. The Director of the Fund shall issue the Regulation on handling credit risks, which must include at least the following contents:

a) Rules for handling risks;

b) Cases and measures for risk handling;

c) Authority for handle risk;

d) Application and procedures for handling risks;

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e) Information, reporting regimes, and responsibilities of related agencies in handling risks of the Fund.

2. Risk handling shall be conducted with the aim of minimizing losses to the State and associating responsibilities of the Fund, the borrower, and related organizations in recovering debt.

3. The Fund shall review and decide to convert entrusted loans into subsidies for enterprises in cases where the capital withdrawn is lower than the entrusted loan or cannot be carried out due to the invested enterprise’s bankruptcy, business losses, or negative equity.

4. The Council of Experts of the Fund shall give advice and proposal to the Director of the Fund to review and decide on handling cases where the capital withdrawn is lower than the entrusted loan or cannot be carried out due to the invested enterprise’s bankruptcy, business losses, or negative equity.

5. The Fund shall suspend the loan trust prematurely when there are breaches of the loan trust contract or agreement or when the conditions stipulated in the agreements made are not met.

Section 2. SUBSIDIES

Article 26. Items of subsidies

1. Subsistence allowances of VND 10 million per month for postgraduate students and scientists of scientific and technological organizations with research works that meet the conditions and criteria specified in Article 27 hereof.

2. Subsidies of up to VND 01 billion per project or research work for purchasing data resources for start-ups, individuals, or groups of individuals that meet the conditions and criteria in Article 27 hereof.

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4. Subsidies of up to VND 01 billion per project or research work for research and development of policies and laws, completion of legislation and legal systems on data serving national data development and digital transformation.

5. Subsidies of up to VND 01 billion per project or research work for renting or purchasing IT infrastructure and tools serving activities of building, developing, protecting, administrating, and processing data for start-ups, individuals, or groups of individuals meeting the conditions in Article 27 hereof.

6. Subsidies of up to VND 01 billion per project or research work for interest payment for subjects specified in Clause 1 of Article 20 hereof that borrow capital from credit institutions to execute projects serving data building, development, protection, management, and processing, at an interest subsidy quota of 2% per year, except for cases where loans have already been granted by the Fund.

Article 27. Conditions and criteria for receiving subsidies

1. Having research works related to building, developing, protecting, managing, and processing data that have been approved by scientific and technological organizations during execution.

2. Having feasible production or business projects, projects using intellectual property assets specified in the Law on Intellectual Property or new technologies specified in the Law on Technology Transfer, or new business models related to building, developing, protecting, managing, and processing data.

Article 28. Reimbursement of subsidies

1. Organizations or individuals who have received subsidies must reimburse them in the following cases:

a) Failure to meet the criteria and conditions prescribed herein;

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2. Organizations or individuals must return the full amount of subsidies received, plus interest calculated on the subsidies at the average 12-month deposit interest rate announced at the time of reimbursement by the four largest state-owned commercial banks by total assets at the time of determining the reimbursement obligation, and bear penalties as agreed, except where relevant laws provide otherwise.

3. The number of days for interest calculation specified in this Article is counted from the date the organization or individual receives the subsidy until the date of reimbursing the subsidy, paying interest, and fine to the Fund.

4. The deadline for reimbursement, payment of interest and fine shall be based on the Fund’s reimbursement request. If the organization or individual fails to make payment within the deadline, the Fund shall send a written request to competent authorities to enforce the law to compel reimbursement.

5. Organizations or individuals shall fully reimburse the subsidy and pay the interest and fine as prescribed.

Article 29. Application and procedures for subsidies

1. The application includes:

a) The application form for subsidies shall include the following information: Name of the organization or individual applying for subsidies; personal/organization identification code or passport number; address; phone number; item(s) applying for subsidies as prescribed in Article 26 hereof; other relevant information (if any);

b) The dossier on the research work or project of the organization or individual, along with documents proving that the organization or individual’s eligibility for subsidies specified in Article 27 hereof.

2. The organizations or individual shall submit an application for subsidies at the Fund’s office in person, via postal services, or through other electronic means.

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4. The Fund shall issue the appraisal procedures, make decisions on whether to accept or refuse the application for subsidies, and disburse subsidies while clearly defining the responsibilities and obligations of relevant organizations and/or individuals during the appraisal, decision-making, and subsidy disbursement processes.

5. The Council of Experts shall appraise and verify the application and advise the competent authority to review and make decisions on whether to accept or refuse the application for subsidies. The Fund may hire independent consultants to seek advice.

6. The currency for subsidy shall be the Vietnamese Dong (VND).

Article 30. Agreements on subsidies

The subsidy agreement between the Fund and the organization or individual must be made in writing, ensuring compliance with the regulations herein and include the following basic contents:

1. Information about the Fund and the organization or individual receiving the subsidies, location, and time of signing the agreement.

2. Agreements on the form of assistance, amount of subsidies, purpose of the subsidies, disbursement of the subsidies, and the validity of the assistance contract.

3. Rights, obligations, and responsibilities of each party; methods for resolving disputes arising during implementation; and other agreements at the request regarding management of the Fund.

Article 31. Acceptance of subsidies

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2. The application includes:

a) The application form for acceptance of the subsidies of organization or individual;

b) Documents, materials, and payment receipts related to the use of subsidies.

3. The Fund shall receive and fully assess the subsidy acceptance application; assess and accept such subsidies.

4. The Fund shall issue procedures for assessment and acceptance of subsidies, ensuring the equality and transparency during implementation.

5. Annually, organizations or individuals receiving subsidies must submit reports to the Fund on the research status and project execution or their financial statements.

6. Organizations or individuals receiving subsidies from the Fund shall acknowledge the Fund’s assistance in published research results (clearly stating “Research funded by the National Data Development Fund”), and be accountable for the content of the publications according to the laws on science and technology, publication, intellectual property, and other relevant Vietnamese laws.

Section 3. CAPACITY BUILDING ASSISTANCE

Article 32. Form of capacity building assistance

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1. Organizing workshops, exhibitions, contests, communication campaigns, training courses, and consulting related to data science.

2. Conducting trade promotion activities.

3. Promoting international cooperation in the data sector through research programs, expert exchanges, and international events; prioritizing providing assistance for domestic enterprises in receiving technology transfer related to data from international partners.

4. Commend organizations and individuals with outstanding achievements in building, developing, protecting, administering, and processing data; organizations and individuals who voluntarily contribute their data to the Communist Party of Vietnam, State agencies, the Vietnam Fatherland Front, or political-social organizations.

Article 31. Management of capacity building activities

1. The Minister of Public Security shall provide for the management of capacity building activities as prescribed in Article 32 hereof.

2. The total annual subsidies for capacity building of the Fund shall not exceed 30% of the actual capital at the beginning of the financial year.

Section 4. INVESTMENT ACTIVITIES

Article 34. General provisions on the Fund’s investment activities

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2. The Fund shall not contribute capital or invest in the real estate sector; nor shall it contribute capital or purchase shares of banks, insurance companies, securities companies, venture capital funds, securities investment funds, or securities investment companies, except in special cases decided by the Prime Minister.

3. The Fund shall not contribute capital, purchase shares, or acquire other enterprises whose managers or legal representatives have family relationships as defined by the Enterprise Law with the Director, Deputy Director, or Chief Accountant of the Fund.

The Fund shall not contribute capital together with its subsidiaries to establish joint-stock companies or limited liability companies, nor enter into business cooperation contracts.

4. The Fund is not allowed to use assets that are rent, borrowed, kept in the custody, or deposited by the Fund to invest outside the Fund.

5. The Fund’s investments must be consistent with the Fund’s operational objectives and the Fund shall only be responsible for debts and other asset obligations within the scope of the invested capital.

Article 35. Investment entities

1. Start-ups providing data-related products and services;

2. Start-ups executing projects on production and business involving the application of science, technology, and innovation in building, developing, protecting, administrating, processing, and using data;

Article 36. Forms, conditions, and amount of investment of the Fund

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a) Capital contribution for establishment;

b) Purchase of shares or shares of enterprises.

2. Conditions, and amount of investment of the Fund

a) Start-ups as prescribed in Article 35 hereof must be unlisted on any stock exchange; must not be public companies, and must have charter capital over VND o2 billion;

b) Amount of investment: The Fund shall make an investment of VND 1 billion/enterprise.

Article 37. Handling of investment risks

1. The Fund shall review and decide to convert investment amount into subsidies for enterprises in cases where the capital withdrawn is lower than the investment amount or cannot be withdrawn due to the invested enterprise’s bankruptcy, business losses, or negative equity.

2. The Council of Experts of the Fund shall give advice and proposal to the Director of the Fund to review and decide on handling cases where the capital withdrawn is lower than the investment amount or cannot be withdrawn due to the invested enterprise’s bankruptcy, business losses, or negative equity.

3. The Fund shall divest the capital prematurely when there are breaches of the investment contract or agreement or when the conditions stipulated in the agreements made are not met.

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FINANCIAL MANAGEMENT

Article 38. General rules for management and use of capital, assets, revenue, expenses, and distribution of fund’s profits

1. The Fund must efficiently manage and use its capital for the right proper purpose.

2. The Fund’s revenue and expenses must be closely managed to ensure their accuracy, honesty, and legality; there must be all of the relevant documents and records as prescribed that are fully reflected in the accounting books according to the applicable accounting regime and relevant laws.

Article 39. Asset management

1. The Fund shall develop and submit the Regulations on management of procurement activities and management of fixed assets to the Director of the Fund for approval in accordance with the Fund’s Charter and relevant laws The Regulations must clearly define the cooperation among the Fund’s management units and specify the responsibilities to pay damages of each unit and individual for any loss or damage to assets of the Fund or to the Fund.

2. Purchase of fixed assets by the Fund

a) The Director of the Fund shall make decisions on investment, purchase of fixed assets, standards, norms, procedures for investment, purchase, and repair of fixed assets of the Fund and must adhere to the rules of public disclosure, transparency, cost efficiency and effectiveness;

b) Purchase of fixed assets serving the operations of the Fund must follow the rules where the residual value of total fixed assets does not exceed 05% of the Fund’s operating budget at the time of purchase.

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4. Renting or leasing fixed assets

a) The Fund has the right to rent or lease fixed assets according to the principles of effectiveness, reserve and develop capital in accordance with the laws applicable to enterprises;

b) The Director of the Fund shall make decision on renting or leasing the Fund’s fixed assets.

5. Liquidation, disposal and sale of fixed assets

a) The Fund shall have the right to liquidate, dispose of and sell fixed assets which have been damaged, technically outdated, have no longer been used, are useless or are used ineffectively in order to recovery capital according to the principles of public disclosure, transparency while ensuring capital safety;

b) The Director of the Fund shall make decision on the liquidation, disposal, and sale of the Fund’s fixed assets.

c) The procedures and processes for liquidating, disposing, and selling fixed assets of the Fund shall comply with the laws applicable to enterprises.

6. Inventory and reassessment of fixed assets

The Fund must make a periodic or unscheduled inventory of fixed assets to determine the number of these assets in the following cases: closing of accounting book for preparation of annual financial statement; after natural disasters, fires, unexpected accidents, or other objective causes resulting in variation in the Fund’s assets; under regulations adopted by competent regulatory authorities;

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c) The Fund must carry out the reassessment of assets in accordance with regulations applied to enterprises. Any increase or decrease in value of assets after reassessment shall be determined in accordance with the regulations applied to specific cases.

7. In case any loss or damage to an asset occurs, the Fund must value the affected asset, determine causes, responsibilities, and take the following actions:

a) Determine objective causes (natural disasters, fire, unexpected accidents) and subjective causes;

b) If such loss or damage results from subjective causes, organizations or persons causing loss or damage must pay damages and handle such matters as prescribed by law. The Fund shall provides for detailed regulations on recompense and determine the recompense rate in accordance with; be accountable for its own decision;

c) If the asset subject to loss or damage has been insured as required by law, action shall be taken under terms and conditions of the insurance policy;

d) If the value of the asset subject to loss or damage after being compensated for by indemnity of the enterprise, organization, or person causing such loss or damage or the insurer, and by loss provisions, is inadequate, such value shall be recorded in the Fund's expenses arising during the accounting period;

dd) In special cases where serious loss or damage is caused by natural disasters, fire or force majeure events, and the Fund is unable to self-remedy, the Director shall make a report on the plan of action against such loss or damage which is then presented to the Minister of Planning and Investment for decision.

Article 40. Revenues

The Fund’s revenues are revenues from investment activities, financial activities, and other income earned by the Fund, including:

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2. Dividends and cash profit shares from investment activities; gains from the transfer of investment capital.

3. Proceeds from management of capital from donations, aids, contributions, trusts, gifts (if any).

4. Deposit interest.

5. Interest and other proceeds from joint venture and partnership activities.

6. Proceeds from liquidation and disposition of assets; proceeds from insurance indemnity (the residual amount after paying damages; proceeds from imposing penalties or recompense for breach of economic contract; proceeds from debts written off by loss provisions and now collected successfully; proceeds from exchange rate difference (if any).

7. Other proceeds as prescribed.

Article 48. Expenditures

The Fund's expenditures are those arising within the accounting period, which are necessary for the Fund’s operations, including:

1. Expenditures for the Fund’s operations

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b) Expenditures for capacity building assistance;

c) Expenditures for receiving and managing donations, aids, contributions, trusts, and voluntary lawful gifts from domestic and foreign enterprises, organizations, and individuals;

d) Expenditures for risk provision and other provisions (if any);

dd) Expenditures for insurance as prescribed by law; expenditures for idle capital deposits; exchange rate difference;

e) Other operational expenditures.

2. Expenditures for operation of the Fund’s apparatus

a) Expenditures for payments to employees and managers, including: salaries, wages, remuneration, bonuses, allowances; rewards, welfare expenses; subsidies; other expenditures for payments to employees and managers as prescribed by enterprise laws and relevant laws;

a) Expenditures for management, including: expenditures for training; scientific research and technology application; dissemination, advertising, marketing; information technology; activities of Communist Party of Vietnam and mass organizations; stationery, documents, books and newspapers; electricity, water, telephone, postal and telecommunications, office sanitation; conferences, seminars, training, dissemination, printing materials; procurement of goods and services; transaction, foreign affairs, participation in forums and networks; international cooperation; inspection, supervision, audit; hiring domestic and foreign experts and consultants; transportation and other management-related expenditures;

c) Expenditures for investment in construction, procurement, maintenance, repair of assets; depreciation of fixed assets; lease of assets under lease contracts; asset disposition, sale, liquidation; property insurance; procurement of tools and instruments; other expenditures related to asset management and use.

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4. Expenditures for unearned revenues that are neither collected in reality; expenditures for paying debts; expenditures for recovering written-off debts, bad debt recovery; expenditures for payment of fines and recompenses for breaches of economic contracts under the Fund’s responsibility; expenditures for handling asset losses as prescribed by law; expenditures for charitable and social activities; expenditures for payment of legal costs and law enforcement charges.

5. Other expenditures.

6. The expense norms prescribed in clauses 1, 2, 3, 4, and 5 of this Article shall comply with the law applicable to wholly State-owned single-member limited liability companies. If there is no regulation that prescribed such matter, the Fund shall base on its financial capacity to build norms and decide expenditures to ensure appropriateness and efficiency.

7. Expenditures that are not allowed to be recorded as its expenditures:

a) Losses already covered by subsidies from the State or covered by insurance agencies or the liable party;

b) Expenditures for payment of fines in accordance with law that are the responsibility of individuals;

c) Expenditures without reasonable and valid invoices and records;

d) Expenditures covered by other funding sources;

dd) Expenditures for donations for agencies, organizations, or individuals;

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Article 42. Management of revenues and expenditures

1. The Director of the Fund shall be accountable to the Ministry of Public Security and the law for strict management to ensure the accuracy, honesty, and legitimacy of other revenues, income, and operating expenditures related to the Fund’s production and business activities.

2. All of other revenues, income, and operating expenditures arising from the Fund’s operations must be fully supported by documents and records as prescribed by law and be accurately recorded in the Fund’s accounting books according to the applicable enterprise accounting regime.

3. The Fund’s other revenues, income, and operating expenditures shall be determined in VND; in cases where collection or payments are made in foreign currencies, they must be converted into VND in accordance with applicable law.

4. The Fund must correctly and fully calculate all expenditures for production and business activities, cover all expenditures using its own revenues, and are responsible for its performance.

5. The determination of revenues, income, and expenditures for determining tax obligations and other financial obligations of the Fund shall comply with relevant tax laws and other applicable laws.

6. The Director of the Fund shall issue internal expenditure regulations, including expenditure norms appropriate for the Fund’s actual operating conditions, ensuring compliance with this Decree and other relevant laws.

Article 50. Distribution of profits

1. The Fund’s annual profit is the difference between total income and total expenditures incurred in a fiscal year.

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a) Setting aside 20% of the difference for the capital investment fund;

b) Setting aside 10% of the difference for the financial reserve fund; the maximum amount available in this fund does not exceed 25% of the Fund’s actual charter capital;

c) Setting aside part of the difference which is equal to 03 months' salary paid to employees at maximum in the fiscal year for the commendation fund or the welfare fund, and which is no more than 1,5 month’s salary paid to managers in the fiscal year for the managers’ bonus fund;

d) If the revenue-expenditure difference existing after setting up funds specified in points a, b, and c of this clause is not sufficient to be set aside for funds in accordance with point d of this Clause, the Fund may reduce the amounts set aside for the development investment fund to supplement the available funds be set aside for other funds in accordance with the prescribed norms, but the maximum reduction must not exceed the amount set aside for the development investment fund in a fiscal year.

dd) The remaining difference (if any) after setting aside the above Funds shall be added to the Fund's development investment fund.

3. The amount set aside for the commendation fund and welfare fund of the Fund shall depend on the level of performance of the Fund as prescribed in Article 49 hereof;

a) The A-rated Fund may be allowed to set aside 3 months’ average actual salary and allowance paid to cadres and employees for both commendation and welfare funds;

b) The B-rated Fund may be allowed to set aside 1,5 months’ average actual salary and allowance paid to cadres and employees for both commendation and welfare funds;

c) The B-rated Fund may be allowed to set aside 01 months’ average actual salary and allowance paid to cadres and employees for both commendation and welfare funds;

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a) A-rated Fund may set aside 1,5 month's actual salaries paid to managers for this fund;

b) B-rated Fund may set aside 01 month's actual salaries paid to managers for this fund;

c) C-rated Fund is not allowed to set aside for this fund;

5. The Director of the Fund shall make decisions on setting aside or temporarily setting aside part of the Fund’s profits for the commendation fund, the welfare fund, the managers’ bonus fund, the development investment fund and the financial reserve fund in accordance with clause 2 of this Article.

Article 44. Management and use of funds from setting aside part of the Fund’s profits

1. The use of funds comply the applicable regulations for the right purposes and beneficiaries. To be specific:

a) The Fund must develop and issue regulations on management and use of funds in accordance with law, ensuring the democracy, transparency, and publicity before bringing them into effect;

b) In a fiscal year, the Fund may temporarily set aside amounts for the previously mentioned funds based on its profits in order for these funds to be able to spend on accomplishing predetermined purposes;

c) Expenditures norms for commending employees and for welfare benefits shall be set by the Director of the Fund.

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a) The development investment fund shall be used to invest in expanding the scale of operations, renewing technology, equipment, working conditions of the Fund, and supplementing the Fund’s charter capital.

b) The financial reserve fund is used to cover the remaining losses and damages related to assets and uncollectible debts incurred during operations after compensation through disposal of secured assets (if any), compensation from organizations or individuals causing the losses, compensation from insurance organizations, and the provisions set aside in expenditures as prescribed herein.

c) The commendation fund for cadres and employees shall be used to give regular or surprised bonuses to cadres and employees of the Fund who have technical or operational process improvements that bring high efficiency or have made effective contributions to the Fund’s operations.

d) The welfare fund shall be used to cover expenditures for sports, cultural activities, and public welfare of the cadres and employees of the Fund; to provide subsidies for regular, sudden hardship to the cadres and employees.

dd) The managers’ bonus fund shall be used to reward the Fund’s managers.

Article 45. Accounting and auditing regime

1. 1. The Fund shall comply with the same accounting regimes as those applied to non-state budget financial funds.

2. The Fund’s fiscal year shall start on January 1 and end on December 31 each year.

3. The Fund’s accounting structure shall be established in accordance with laws on accounting and the Fund’s internal regulations.

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Article 46. Final statement report

1. The Fund is required to prepare quarterly and annual financial statements. The Fund’s financial statements must be audited by independent audit bodies established and operated under laws.

At the end of each accounting period (quarterly, annual), the Fund must prepare, present, and send financial statements and statistical reports to state agencies and conduct financial disclosure in accordance with applicable laws. The Director of the Fund shall be accountable for the accuracy and truthfulness of financial statements and statistical reports and the implementation of financial disclosure. Besides periodic financial statements and statistical reports prepared and submitted as required, the Fund must also prepare and submit ad hoc reports at the request of the Ministry of Public Security and other state regulatory authorities.

2. Annually, the Fund shall prepare a final statement report and a financial statement for appraisal and approval by the Ministry of Public Security.

3. After receiving the approval from the Ministry of Public Security, the Director of the Fund shall send the audited annual financial statements to the Ministry of Public Security and competent authorities.

4. Annual financial statements must be submitted within 90 days from the ending date of a fiscal year. The audit report on the Fund’s annual financial statements conducted by the independent audit bodies must be submitted within 120 days from the end of the fiscal year.

5. The Fund shall conduct financial disclosure in accordance with law.

6. The figures of the final statement of the Fund must be compared, confirmed with the State Treasury where transactions are conducted.

7. The content of the Fund’s final statement report must strictly follow the contents recorded in the assigned state budget estimates and state budget entries.

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9. The report must include explanatory notes assessing the results and effectiveness of the Fund’s task performance.

10. The Fund shall comply with the regulations of the Law on State Budget and this Decree regarding preparation, implementation, statement, audit capital supported by state budget.

11. Annually, the Ministry of Public Security shall report to the competent authorities on the implementation of the financial plan, the following year’s financial plan, and the Fund’s revenue and expenditure statement to make a consolidated report, which shall then be submitted to the Government.

12. Annually, the Fund shall balance funding sources and prepare and submit an estimate of costs for activities related to donation, support, lending, investment, and management of the Fund to the Minister of Public Security for approval.

13. The Fund shall carry forward surplus funds from the current fiscal year to the next in accordance with the Law on State Budget and related legislative documents.

Chapter VI

OPERATION SUPERVISION AND ASSESSMENT

Article 47. Supervision of the Fund’s operations

1. The Fund is responsible for establishing and operating an internal supervision system to ensure effective operation, appropriate to its functions, tasks and powers as prescribed herein.

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2. Annually, the Fund must report to the Ministry of Public Security on its performance, including support activities, efficiency in managing capital and assets, assessment of risks and limitations in operations, and propose appropriate solutions.

3. The Ministry of Public Security shall supervise through the Fund’s reports to identify financial risks, management limitations, operational efficiency, and promptly provide warnings and solutions in accordance with laws on financial supervision, performance assessment, and public disclosure of state-owned enterprises’ financial information. The scope of supervision shall comply with Article 48 hereof.

Article 48. Contents of supervision of the Fund’s operations

1. The management and use of operating budget, other capital sources, annual expenditures for operations, and assets of the Fund.

2. Performance of the Fund.

3. Implementation of policies regarding salaries, bonuses, and remunerations of the Fund.

4. Other supervision contents at the request of the Ministry of Public Security.

Article 49. Assessment of performance of the Fund

1. The Ministry of Public Security shall assess the performance of the Fund and rate the Fund annually.

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a) Criterion 1: Growth of outstanding loan debts and financing sales;

b) Criterion 2: Bad debt ratio;

c) Criterion 3: Total income minus total expenditures;

d) Criterion 4: Compliance with laws on investment, management and use of the Fund’s capital and assets, obligations to the state bank, and compliance with regulations on annual financial statements and performance reports of the Fund;

dd) Criterion 5: Level of completion according to plan in terms of quantity, scale, fields and effectiveness of tasks and projects financially supported by the Fund.

3. Objective factors to be considered and excluded in assessing the Fund’s performance:

a) Natural disasters, fires, epidemics, economic-political instability, wars, and other force majeure causes;

b) Policy changes affecting the Fund’s support activities and performance.

4. The Minister of Public Security shall issue regulations and guidance on assessing and rating the Fund’s performance.

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IMPLEMENTATION CLAUSE

Article 50. Responsibilities of the Ministry of Public Security

1. Take charge and cooperate with competent authorities in making report which shall then be submitted to the Prime Minister for allocation of the Fund’s operating budget; make decision on whether to increase or decrease the Fund’s operating budget.

2. Issue the charter, financial regulations, and operational regulations of the Fund; make decision on appointment, reappointment, dismissal, assessment, commendation, disciplinary actions, and policies for the Fund’s management positions.

3. Rank the Fund according to applicable law and annually assess and rate the Fund’s performance

Article 51. Responsibilities of the Fund

1. Receive, manage, and effectively use funds for operations according to the Fund’s charter and applicable laws.

2. Control all collection and spending activities according to internal spending regulations to ensure compliance with applicable regulations and be accountable to the law for its operations.

3. Issue procedures for receiving, assessing, and approving application for loan trust following principles of ensuring the clear distinction of responsibilities and obligations of relevant parties.

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1. Use the loan capital, assistance, or investment for the right purposes as agreed in the contracts signed between the Fund and the relevant parties.

2. Fully and promptly repay principal, interest, and any arising costs (if any) to the bank in accordance with the loan agreement signed with the bank.

3. Comply with applicable law and fully execute commitments and obligations under the agreements signed between the Fund and the relevant parties.

4. Promptly provide full, accurate, and truthful information and documents related to lending and use of the Fund’s capital, and be accountable for the accuracy and legitimacy of the provided information and documents.

Article 53. Effect and implementation responsibility

1. This Decree comes into force from July 1, 2025.

2. Ministers, Heads of ministerial agencies, Heads of Governmental agencies, Presidents of People’s Committees of provinces and central affiliated cities and relevant organizations and individuals are responsible for the implementation of this Decree.

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