Hanoi, Sept. 13 -- The Politburo's Resolution No. 68-NQ/TW, aimed at spurring the private sector's growth, marks a pivot toward a future driven by innovation and scientific ambition. At its heart lies Vietnam's first regulatory sandbox, a novel mechanism enshrined in the Law on Science, Technology and Innovation, passed at the National Assembly's 9th session.

The sandbox serves as a playground for technological experimentation, allowing select companies to test innovative business models and technologies under real-world conditions for a defined period and scope. Regulators closely monitor the process and have established safety nets to ensure that any financial errors do not affect the stability of the nation's financial system.

The ne...