Building Legal Certainty for E-commerce in Vietnam: THE PUSH FOR A NEW LAW

Vietnam's current e-commerce regulations, primarily governed by two decrees, are insufficient to address the evolving complexities and rapid growth of the e-commerce sector. This inadequacy stems from the decrees' lower legal standing compared to laws and the emergence of new business models and technologies.

To provide a more robust and stable legal framework, the Ministry of Industry and Trade proposes drafting an E-commerce Law. This law would supersede the existing decrees and offer a higher level of legal authority, enabling comprehensive regulation of the e-commerce landscape. The Ministry highlights the need for a long-term, stable legal framework to govern this complex field, drawing on the experiences of other countries that have successfully implemented e-commerce laws.

Building Legal Certainty for E-commerce in Vietnam: THE PUSH FOR A NEW LAW

Impact on Business: The proposed E-commerce Law is expected to significantly impact businesses operating in Vietnam's digital marketplace. Key impacts include:

• Enhanced Legal Certainty: The law will provide a clearer and more predictable legal environment, fostering greater confidence among businesses and consumers alike.

• Comprehensive Regulation: It will address various aspects of e-commerce, including platform definitions, participant rights and responsibilities, and service provider liabilities.

• Improved Consumer Protection: The law will likely incorporate measures to safeguard consumer interests and promote trust in online transactions.

• Support for Innovation: By establishing a clear legal framework, the law can encourage innovation and the development of new e-commerce models.

• Sustainable Growth: The law is expected to promote the sustainable development of e-commerce, contributing to economic growth and social equity while minimizing environmental impact.

  
  

Five Major Policies within the Proposed Law:

1. Definition and Harmonization of Concepts: Clarifying definitions of key terms like "digital platform" and ensuring consistency with other existing laws.

2. Regulation of E-commerce Activities and Participants: Defining various e-commerce models, outlining participant roles and responsibilities, and enhancing enforcement effectiveness.

3. Accountability of Support Service Providers: Establishing mechanisms to prevent illegal activities and facilitate government oversight.

4. Electronic Contract Authentication Services: Ensuring fair treatment of different service providers and enabling efficient detection and handling of violations.

5. E-commerce Development: Promoting sustainable and green e-commerce practices that contribute to economic growth and social well-being.

   
   

The proposed E-commerce Law represents a crucial step in strengthening Vietnam's legal framework for the digital economy. By addressing current regulatory gaps and incorporating international best practices, this law aims to foster a thriving and sustainable e-commerce ecosystem that benefits businesses, consumers, and the broader economy.

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