On 22 June 2023, the National Assembly passed the new Law on Electronic Transactions No. 20/2023/QH15 dated 22 June 2023 ("LOET"). The LOET will replace the current Law on Electronic Transactions that was enacted in 2005. It will take effect from 1 July 2024.
The LOET prescribes more detailed regulations concerning the use of electronic signatures in Vietnam. However, what remains unclear in the LOET is the extent to which common means of indicating assent (e.g. use of scans or images of wet signatures) or digital signatures (e.g. DocuSign) will be recognised in Vietnam.
The LOET also prescribes specific obligations for administrators of information systems that serve electronic transactions, including digital platforms. These include reporting requirements to the Ministry of Information and Communication.
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