E-commerce is gaining momentum! Vietnam will formulate a legal framework to regulate e-commerce transactions

Dau Anh Tuan, head of the VCCI Legal Department, said at the VCCI Social Media E-commerce Conference on March 23 that the use of social media to market e-commerce businesses has been increasing in recent years .

It is understood that Vietnam 's legal framework for e-commerce and social networks was established in 2013, and with the rapid development of e-commerce, the framework has become outdated.

Therefore, the current priority is to review and adjust the legal framework to better manage the development of e-commerce, and to establish a transparent mechanism to manage the taxation of individuals and organizations in e-commerce on social networks, especially in the field of cross-border e-commerce .

The VCCI report points out that although the existing e-commerce legal framework is still applicable to social networks and e-commerce platforms, the fundamental differences between the two forms are not taken into account.

VCCI recommends that e-commerce activities on social networks be classified for better management . Therefore, normal social networks should be managed by the government for Internet services and information .

Nguyen Minh Duc of VCCI's legal department said the social network currently does not have an online ordering function, so buyers and sellers must contact each other directly to arrange orders.

He said some social networks act as intermediaries, so social networks still have a mix of commercial and non-commercial content.

Another concern is the difficulty social networks face in complying with regulations on the development of automated content monitoring tools, as current regulations remain too broad.

The VCCI said it was important to have clear regulations on what content must be censored or removed, while user information must also be verified on social networks with e-commerce businesses.

Verification of user information may depend on the extent to which the social network engages in e-commerce, and that information may include phone numbers , emails, and bank accounts.

According to Vu Tu Thanh, deputy regional managing director and Vietnam representative of the U.S. - ASEAN Business Council, there is a need for detailed and transparent regulations to understand the responsibilities and rights of all parties involved in e-commerce businesses.

To promote the development of e-commerce, costs and risks must be reduced, and it was emphasized that this would be a way to encourage participation in e-commerce platforms, which would contribute to future economic growth.

It can be seen that the Vietnam Chamber of Commerce and Industry has further ideas on establishing complete laws and regulations to manage e-commerce on social networks. This will provide a relatively stable e-commerce environment for sellers who want to enter the Vietnamese e-commerce market.

Cross-border e-commerce market

Southeast Asia