The Vietnam e-commerce and Digital Economy Agency under the Ministry of Industry and Trade feels earlier regulations failed to keep pace with intermediary platforms, platform-based businesses and cross-border e-commerce, while risks like counterfeit goods, commercial fraud, intellectual property violations and consumer rights infringements have become increasingly complex.
Vietnam’s law on e-commerce takes effect today, paving the way for more order, transparency, safety and accountability.
Though implementation may raise costs for firms initially, it is likely to create fairer competition and reward businesses that invest in long-term compliance.
Requirements for information disclosure, identity verification, product control and consumer protection have been strengthened.
The new law both promotes innovation and strengthens regulatory oversight. It clearly defines the responsibilities of market participants, particularly intermediary platforms.
Requirements for information disclosure, identity verification, product control and consumer protection have been strengthened to curb fraud and promote fair competition.
The law also encourages green e-commerce, more efficient logistics and environmentally friendly packaging, while creating greater opportunities for small and medium enterprises, household businesses and start-ups.
E-commerce platforms operating in the country are now required to verify sellers’ identities, disclose information on sellers, products and transaction conditions, proactively detect violations and establish effective complaint-handling mechanisms.
Consumer protection has also been reinforced through clearer rules on complaints, refunds, compensation and personal data protection.
Fibre2Fashion News Desk (DS)
