Vietnam needs to move beyond the traditional focus on “protection” and step into a new phase of commercializing intellectual property (IP) — turning inventions, designs, trademarks and data into tradable assets that can generate tangible economic value.
At a recent workshop in Hanoi titled “Improving the Legal Framework for IP Commercialization – A New Driver for Economic Growth”, policymakers, experts and business representatives agreed that Vietnam’s legal system has primarily centered on IP protection, while mechanisms for valuation, financing and market transactions remain underdeveloped.
Pham Dai Duong, Deputy Head of the Central Policy and Strategy Commission, described intellectual property as a “gold mine” for the knowledge-based economy. “Without mechanisms for exploitation, it remains dormant. IP must be treated as a special commodity — one that can be valued, mortgaged, contributed as capital, transferred and traded,” he said.
Deputy Minister of Science and Technology Hoang Minh noted that the number of patent and utility solution applications by Vietnamese citizens grew by an average of 11.7% annually between 2014 and 2024, reflecting strong creative potential. However, commercialization remains limited due to fragmented and outdated regulations that do not align with current business realities.
“Many firms wish to contribute IP assets as capital but face valuation barriers and lack of unified guidance,” said lawyer Anh Tu, Chairman of TAT Law Firm. “As a result, IP rights are legally protected but economically frozen.”
In contrast, countries like China have turned IP into a mainstream financial instrument. More than 37,000 small and medium-sized enterprises there have secured loans using patents and trademarks worth over 850 billion yuan ($117 billion).
Vietnam’s Ministry of Science and Technology is drafting amendments to the Intellectual Property Law, shifting the focus from “protection” to “assetization and commercialization” of IP. The proposed revisions include five major policy areas: promoting commercialization, simplifying administrative procedures, strengthening financial and credit mechanisms, expanding ownership rights, and developing IP market infrastructure.
Luu Hoang Long, Director General of the Intellectual Property Office of Vietnam, emphasized the need for a stronger legal foundation to enable IP-backed financing and market transactions. The workshop also featured discussions among ministries, associations and legal experts on best practices and international trends.
Vietnam recently signed a comprehensive memorandum of understanding with the World Intellectual Property Organization (WIPO) to strengthen cooperation in policy development, training and digital IP management tools.
Experts believe that a coherent legal framework and flexible financial ecosystem could make IP commercialization a new growth engine for Vietnam — helping local creativity not only gain protection, but truly generate economic and social value.
