30 C
Ho Chi Minh City
Wednesday, June 19, 2024

Cautious management

By Huynh Thien Tu and Le Thuy Khanh

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E-commerce has grown by leaps and bounds in Vietnam, and multiple legal regulations have also been issued to govern this area. When e-commerce develops to an extent beyond expectations, the State should be cautious in its management role. Widening State management and tightening control may not be the right approach. New wine in old bottles When the 1997 Commercial Law was issued, there were virtually no online transactions of goods on the domestic market, nor were there any legal documents governing e-commerce. The 1995 Civil Code, similarly, did not have any provisions on civil online transactions. As the Internet at the time was still unknown to most of the Vietnamese, most commercial activities were conducted via verbal or black-and-white agreements, with a few exceptions being made via emails. When online transactions grew more popular, legal complications also emerged. Since 2005, many legal documents have been issued, first to recognize the validity of electronic agreements and electronic signatures, and later to address disputes stemming from electronic transactions and contracts, as well as problems related to intellectural property and privacy. Also in 2005, three important laws were issued to set up the legal framework for e-commerce. While the 2005 Civil Code and […]
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