The comments were made at a conference on developing e-contracts in Vietnam and implementing Decree 85/2021/NĐ-CP amendments to the Government Decree 52/2013/NĐ-CP on e-commerce on June 16 in Hanoi.

A ceremony was held on the sideline of the conference to announce the development axis of Vietnam e-contracts (www.CeCA.gov.vn).

Deputy Minister of Industry and Trade Nguyen Sinh Nhat Tan said that on September 25, 2021, the Government issued Decree 85, detailing and providing e-contract authentication services and conducting a legal framework for the conditions, obligations and registration process for the operation of organisations who provide e-contract certification services known as the CeCA-Certified eContract Authority.

The deputy minister said his ministry had assigned the Vietnam e-Commerce and Digital Economy Agency and other agencies to outline solutions to develop and widely apply e-contracts in the country, making it a key to developing its economy.

As Vietnamese businesses have long been signed with foreign partners in the form of e-contracts involved in cross-border transactions and import-export activities.

A survey conducted by the Ministry of Industry and Trade in 2021 showed that at least 33 percent of surveyed businesses had applied e-contracts in their commercial activities.

In addition, since the beginning of the Covid-19 pandemic, Vietnam has experienced four outbreaks leading to the rapid change in habits and behaviours of businesses and people.

One of the changes is that businesses are gradually switching from using ordinary printed contracts and documents to using electronic contracts and documents.

The application of e-contracts not only helps companies and their customers save time and costs but also helps reduce the impact of the pandemic and the gap in commercial transactions.

The Vietnam e-Commerce and Digital Economy Agency has worked with relevant bodies to develop solutions to assist third parties such as commercial banks and tax agencies to check and authenticate the value as it is written in printed contracts.

Le Duc Anh, Director of the Centre for Information and Digital Technology (CID) under the Ministry of Trade and Industry, said the Agency had assisted businesses in integrating Vietnam’s Electronic Contract Development Axis.

Under the axis, 17 businesses have sent their applications for registration of development of e-contracts. Of them, six businesses have conducted surveys and joined the axis to ensure requirements to meet business criteria and technical standards of e-contracts development.

Particularly, each e-contract transaction will be closely attached to regulations on dispute settlement, complaints and handling of problems arising in signing and implementing e-contracts. This will help businesses, organisations, individuals, and third parties have a reliable intermediary agency to solve problems in signing e-contracts.

After the issuance of Circular No. 01/2022/TT-BCT of the Ministry of Industry and Trade, amending and supplementing the Ministry of Industry and Trade’s Circular No. 47/2014/TT-BCT on the management of e-commerce websites, and the Ministry of Industry and Trade’s Circular No. 59/2015/TT-BCT, providing the management of e-commerce activities via mobile applications, the Vietnam e-Commerce and Digital Economy Agency has assisted businesses in the process of granting registration in accordance with regulations.

It is expected that the first businesses that ensure all service operation requirements will be granted registration in June and early July.

At the conference, a ceremony was held to announce the development axis of Vietnam e-contracts (www.CeCA.gov.vn).

The Axis System will play a key role in supporting the e-Contract Attestation Organisations and providing services and e-Contract Lookup and Validation Portal (xacthuc.CeCa.gov.vn) to third parties.

Digital economy worth $53 bln in Q1

Revenues from the digital economy are estimated at US$53 billion in the first quarter, according to the Ministry of Information and Communications.

Bac Giang focuses on digital transformation to improve investment environment

(BGO) - The Department of Planning and Investment (DoPI) is one of the top leading departments in the number of documents handled on the online public service at level 3 and 4 in Bac Giang province. Also, the DoPI has implemented many solutions to support business in digital transformation, helping improve investment environment and enhance competitiveness capability.

PM calls for more efforts to accelerate digital transformation

Digital transformation is a driving force for innovation and a foundation for a modern economy, Prime Minister Pham Minh Chinh affirmed as he chaired the National Committee on Digital Transformation’s second meeting on April 27.

Bac Giang accompanies digital transformation businesses

(BGO) - Implementing the Prime Minister’s Directive No. 01 dated January 14, 2020 on promoting the development of digital technology enterprises and Resolution No. 111 dated June 11, 2021 by the provincial Party Committee on digital transformation in Bac Giang province in the 2021-2025 period, with an orientation to 2030, many businesses in Bac Giang province have boldly conducted digital transformation in governance, thus saving costs and time, and improving labor productivity.

Vietnam to become second largest digital economy in Southeast Asia in 2025: experts

Vietnam can become the second largest digital economy in Southeast Asia in 2025, while the country’s e-commerce market will draw more large-scale businesses, forecast experts at an online seminar in Ho Chi Minh City on April 20.

Source: VNA