Topic: Draft amended Law on Electronic Transactions

Mr. Nguyen Quoc Hung, General Secretary of the Vietnam Banks Association, said that compared to the 2005 Law on Electronic Transactions, the draft amended Law on Electronic Transactions that the National Assembly is consulting on features many improvements. Through opinions from members, however, the Association has found that there remain certain issues that need to be considered and adjusted to make the draft more feasible.

The draft amended Law on Electronic Transactions will play an important in promoting faster digital transformation in Vietnam. Many provisions in the draft, however, pose difficulties for credit institutions.