South-East Asia IPR SME Helpdesk

Vietnam’s target to become one of leading countries in ASEAN about innovation, intellectual property protection and exploitation by 2030

On 22 August 2019, Vietnamese Prime Minister Nguyen Xuan Phuc approved the Decision on the Intellectual Property (IP) Strategy to 2030 which set up the goal for Vietnam to become one of the leading country in ASEAN in innovation, IP protection and exploitation. Under the strategy, Vietnam looks forward to drive the transparency and effectiveness of IP protection, reduce IPR infringements, increase IP owned by the Vietnamese individual, organisations in term of quantity and quality to improve Vietnam’s IP indexes in Global Innovation Indexes (GII), improve effectiveness of IP exploitation from IP intensive products.

To have these targets reached by 2030, the Decision specialised the function and responsibility of relevant ministries and set out the timeline for the ministries to submit proposals for amending IP laws and regulations by 2021, building a copyright database as well as technical solutions to manage and detect online infringing activities by 2022, joining WIPO Copyright Treaty (WCT), WIPO Performances and Phonograms Treaty (WPPT) by 2022, improving capacity of Market Management Agency on settlement of IP infringing activities by administrative measures by 2022 and developing highly IP intensive industries by 2023. It is expected that the upcoming amendments will result in positive improvements on IP protection and enforcement in Vietnam which will put Vietnam moving closer to international practice and to become one of the most attractive destinations for foreign investors.