On 16 May 2024, the Government issued Decree No. 55/2024/ND-CP ("Decree") to elaborate on the Law on Protection of Consumer Rights (refer to our earlier Legal Update here). The Decree took effect on 1 July 2024.
The Decree provides further details on certain provisions of the Law on Protection of Consumer Rights, including the definition of "large digital platforms", additional consumer contract requirements, and model contracts and general trading conditions.
Under the Decree, "large digital platforms" are either (i) digital platforms that have a minimum of 3 million active user accounts annually in Vietnam; or (ii) large or very large intermediary digital platforms as prescribed in Vietnam's electronic transaction laws. These "large digital platforms" will be subject to greater information transparency requirements (including for paid and sponsored content) and need to carry out statutory reporting obligations.
The Decree further imposes certain display and language requirements for consumer contracts (e.g. font sizes, display colour and "easy to understand" content).
Finally, the Decree sets out detailed procedures for registering model contracts and general trading conditions.
For more information, click here to read our Legal Update.
