Draft E-Transaction Law Necessary for E-Commerce
Draft E-Transaction Law Necessary for E-Commerce
The government is drafting an e-transaction law to create a legal environment for the application of electronic transactions in
Vietnam
, contributing to economic development and international integration.
The draft law will be submitted to the National Assembly for consideration on the 7th session of the 11th legislature, in early 2005.
According to a major survey, there are now more than 20 websites in
Vietnam
for online supply of goods and services and more than ten online transaction floors offering B2B (Business to Business) services. Many enterprises have built their own websites or custom applications of e-commerce. However, with more than 130,000 enterprises operating in
Vietnam
, the number using the Internet and its services is still modest. Some enterprises have built basic websites solely for the purpose of advertising their presence instead of offering online sales transactions, or allowing clients to update information and request product support via the web. These websites are not yet meeting their potential to act as a link between enterprises and the marketplace.
According to Dr. Vu Minh Mao - Deputy Director of the e-transaction drafting board - the major aim of the law is to recognise the legal status of an electronic transaction.
According to the e-transaction drafting board the law will comprise ten chapters and about 75 articles. Transactions with overseas organisations will be subject to international conventions as well as to this law. Electronic signatures are covered in Chapter 3, in which the issues of e-signatures, rights of signers, responsibilities of management bodies and protection of individual information are detailed. Chapter 5 establishes that ministries, provincial people's committees and other authorities are allowed to choose whether to apply e-transactions in administrative transactions with enterprises and citizens. In order to solve the matter of intellectual property rights violation, Chapter 7 is expected to contain 15 articles on the issue of protecting the rights of authors and other industrial property rights in e-transactions.
Decrees attached to the Draft comprise a decree on digital signatures and e-transaction verification (drafted by the Ministry of Post and Telecommunications); a decree on banking e-payment (drafted by the State Bank of Vietnam); a decree on detailed guidelines on e-transaction contracts (drafted by the Ministry of Trade); a decree on e-transactions in the fields of accounting and finance (drafted by the Ministry of Finance) and a decree on e-government and administration (drafted by The Government Office).
Most enterprises in
Vietnam
have not ventured into e-commerce due to an inadequate telecommunications infrastructure and the absence of a safe legal framework within which to operate. The passing of an e-transaction law will leap a major hurdle for businesses wishing to move their business transactions into a new era.
Vietnamese
