On June 22, 2023, the Ministry of Information and Communications (MIC) announced the passage by the National Assembly of the Law on Electronic Transactions (as amended).

Scope

In particular, the amended Law applies to electronic transactions in the activities of state agencies, economic, social, civil, commercial, financial, and banking activities, and other areas as prescribed by law. Specifically, the amended Law applies to organizations and individuals participating in, or related to, electronic transactions in Vietnam.

Definitions

The term 'transaction' under the amended Law is defined as an agreement, exchange, or contract between subjects on a specific issue. An electronic transaction is a transaction performed by electronic means.

Amendments

The MIC highlighted that the amended Law provides that any law which did not previously provide for transactions to be conducted by electronic means, shall apply the provisions of the Law on Electronic Transactions.

Notably, the MIC also outlined that the amended Law removes difficulties and obstacles when performing e-contracts, facilitating the submission of electronic travel documents, for instance.

Finally, the MIC stipulated that the amended Law aims to facilitate data sharing for websites or mobile apps, providing information, data, and other digital content at the request of users. Specifically, the MIC noted that the amended Law allows for the use of big data instead of through state-managed access.

You can read the press release here and the amended Law here, both only available in Vietnamese.