The Ministry of Information and Communications (MIC) is collecting opinions for the draft report on the research and proposal for a new Law on Digital Technology Industry, which aims to create favorable conditions for the ICT and digital technology industries.
The draft suggests policy on subjects for management; policies to promote the development of the digital technology industry, including the infrastructure system, human resources; and policies on protection, capital, investment and incentives for the digital technology industry.
The law will affect businesses that produce software and hardware, and digital content service firms.
According to MIC, the 2006 Information Technology Law, Decree 71 and legal documents that guide the implementation of the law have set a legal framework for the ICT industry development in Vietnam. However, though some achievements have been gained, the industry still could not develop as expected because of existing problems.
There are some provisions in the law that contradict or overlap other laws, and the unclear regulations, which cause difficulties during implementation.
MIC also pointed out that the law on ICT was enacted 10 years ago and that it doesn’t cover recent issues in technology development trends, and the ICT industry’s trend of switching to digital technology.
For example, there is no regulation related to new digital technologies of the 4.0 industry revolution and new business models based on digital technology, such as cryptocurrency and products created by individuals under an electronic form. There is also no mechanism to protect users and creators of the digital assets.
MIC believes it is necessary to have a law on digital technology industry with an aim of institutionalizing the guidelines of the Party and the State on the development of the ICT and digital technology industries; and creating a favorable legal environment.
The law will inherit the reasonable provisions of the 2006 Law on Information Technology synchronized with relevant specialized laws. It will include provisions suitable to the international treaties that Vietnam has acceded to.
The 10 basic groups of policies expected to be included in the draft Law are:
- Defining the digital technology industry;
- Promoting the development of new, dual-use, key digital technologies;
- Offering "temporary exemption" for organizations and individuals who try new models/products within time, territory and scope limits;
- Developing infrastructure for the digital technology industry;
- Developing national digital data resources for the digital technology industry;
- Developing leading digital technology enterprises;
- Creating a market for the digital technology industry;
- Developing human resources for digital technology;
- Protecting digital technology and digital assets;
- Capital, investment and incentives for the digital technology industry.
Vietnam’s Internet Protocol version 6 (IPv6) adoption rate reached 44 percent, ranking second in ASEAN and 10th globally, according to the Asia Pacific Network Information Centre (APNIC).
The information technology (IT) and telecoms sector has emerged as a bright spot amid the COVID-19 pandemic as companies have quickly optimised opportunities to move ahead and develop sustainably.