Vietnam updates Intellectual Property Strategy to 2030

The Vietnamese Prime Minister has issued Decision No. 1624/QD-TTg, amending the Intellectual Property Strategy through 2030. The updated strategy emphasizes that respecting and protecting intellectual property rights is a collective responsibility of all agencies, organizations, individuals, and society, mandating strict legal handling of all infringements.

A key objective of the revised strategy is to stimulate intellectual property transactions in the market. This includes a pilot program to assist in determining the value of at least 100 intellectual property rights belonging to research institutes, higher education institutions, and innovative startups.

The decision also directs the review and improvement of the legal framework to address emerging challenges from the Fourth Industrial Revolution. Focus areas include artificial intelligence (AI), big data, digital assets, blockchain, biotechnology, and semiconductor technology. Furthermore, the strategy aims to research and resolve intellectual property infringement issues occurring within cyberspace and digital platforms.