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.

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.

A Draft Law on Electronic Transactions is receiving consultation from the Ministry of Information and Communications (MoIC) for finalization and submission to the government. The Draft was discussed by experts at a seminar organized by the Vietnam Chamber of Commerce and Industry (VCCI) and MoIC on July 14.

The Ministry of Information and Communications is collecting opinions on a draft Law on Electronic Transactions (amended). A unified law is to be developed, creating a complete legal corridor to transform activities from the physical to the digital environment in all industries and fields, ensuring that electronic transactions are as transparent as traditional transactions.