Business

Draft Law on E-commerce approved

Under the resolution, the Government assigns the Ministry of Industry and Trade (MoIT) to be responsible for the contents of the draft law, as well as the contents of the reports on acceptance and explanation of opinions of the National Assembly (NA)’s Standing Committee and Government members on the law.

Hanoi (VNS/VNA) - The Government has issued Resolution No. 352/NQ-CP approving the contents of the draft Law on E-commerce.

Under the resolution, the Government assigns the Ministry of Industry and Trade (MoIT) to be responsible for the contents of the draft law, as well as the contents of the reports on acceptance and explanation of opinions of the National Assembly (NA)’s Standing Committee and Government members on the law.

It requires the ministry to review and complete the draft law according to regulations.

On behalf of the Prime Minister, the MoIT’s minister will sign reports and related documents sent to the NA and the NA’s Standing Committee to ensure quality and progress as required.

The draft law consists of seven chapters and 55 articles, defining the rights and responsibilities of entities such as e-merchants; online business individuals; e-commerce platforms; logistics, payment, advertising services providers; and foreign organisations and enterprises with cross-border activities in Vietnam.

Under the rapid growth of Vietnam’s e-commerce market and the increasing sophistication of violations, the draft law proposes 10 prohibited acts for online businesses, such as using e-commerce to illegally raise capital; committing fraud or deceiving customers; and providing false or misleading information during administrative procedures or when supplying data to state authorities.

The prohibition is aimed at strengthening the legal framework to support sustainable sector development while protecting consumers.

According to the MoIT, Vietnam’s e-commerce sector ranked third in Southeast Asia by market size in 2024 and fifth globally in growth rate in 2022. The retail e-commerce market expanded from 2.97 billion USD in 2014 to 25 billion USD in 2024, recording an average annual growth rate of 20–30% over the past decade. In 2024, the sector accounted for 10% of total national retail sales of goods and consumer services./.

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