Topic: Law on Electronic Transactions

Amended Law to help reduce cross-border transaction costs and promote international electronic transactions.

At the ongoing fourth session of the 15th National Assembly (NA), Minister of Information and Communications Nguyen Manh Hung made a presentation on the draft Law on Electronic Transactions. To be discussed by the NA, the draft will expand the application of electronic transactions to all activities in life, including the issuance of important licenses on land use and house ownership.

At a meeting with the National Assembly Standing Committee on September 19, Minister of Information and Communications Nguyen Manh Hung pointed out six shortcomings in the Law on Electronic Transactions 2005 that require amendments. The Ministry has assessed that the regulatory scope of the Law is not consistent with current practices in the application and development of electronic transactions.