Vietnam's New E-Commerce Law Takes Effect on July 1, Strengthening Market Regulation
Vietnam officially implemented a revised E-Commerce Law on July 1, aiming to enhance the digital marketplace's transparency and safety through strengthened information disclosure, identity verification, and product control, combating commercial fraud and counterfeit goods.
What are the key facts?
- 1Vietnam's new E-Commerce Law effective July 1
- 2Focus on regulating intermediary platforms and cross-border e-commerce
- 3Strengthening information disclosure and identity verification
What happened?
The Department of E-Commerce and Digital Economy under the Ministry of Industry and Trade stated that the new law fills the gaps in the existing legal framework concerning intermediary platforms and cross-border e-commerce business models. The new rules require platforms to take on more responsibilities, including strict seller identity verification and consumer rights protection, aimed at promoting fair competition and fostering green e-commerce development.
What does this mean for cross-border sellers?
Cross-border sellers operating in the Vietnamese market need to immediately verify that their store qualifications and information disclosures comply with the new law requirements to avoid compliance risks.