On 20 June 2023, the National Assembly of Vietnam passed the new Law on the Protection of Consumer Rights ("LPCR"). The LPCR will replace the current Law on the Protection of Consumer Rights that was enacted in 2010. It will take effect from 1 July 2024.
The LPCR was developed to track existing consumer transaction trends, with a focus on online transactions. As such, it introduces specific trader obligations and consumer rights regarding, among others, consumer information and transactions undertaken on digital platforms.
The LPCR also broadens protections to certain classes of vulnerable consumers, as well as increases the role that "social organisations" play in consumer protection.
It is made clearer in the LPCR that it will have extraterritorial effect, meaning both foreign and Vietnam-based traders will be expected to comply with its provisions.
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