return icon Vietnamnet.vn

Vietnam considers legalizing domain name trading

 VietNamNet Bridge – Domain name traders have leaped for joy when the Ministry of Information and Communication made public the draft circular on the “.vn” domain name transfer.

VietNamNet Bridge – Domain name traders have leaped for joy when the Ministry of Information and Communication (MIC) made public the draft circular on the “.vn” domain name transfer.



{keywords}



Once the draft circular which guides the implementation of the Decree No. 72 takes effects, people will be able to buy and sell domain names – “.vn” or “.com.vn” in the open.

Domain name traders hope that the new regulation would take effect as of January 1, 2014.

The domain name market has been operational for the many years. However, the trade activities have been carried out in secret.

According to VNNIC, the Vietnam Internet Network Information Center, 440,082 Vietnamese domain names had been registered by October 2013, while 261,234 addresses had been maintained on the network. This means that the 178,848 Vietnamese domain name addresses (”.vn” and “.com.vn”) had been registered to “book seats.”

Experts believe that the “seats” have been reserved mostly by domain name speculators.

While waiting for the official circular to be issued, a lot of individuals and businesses have taken actions to form up a “playing field” for domain name investors.

In September 2013, the domain name investors’ club with 20 members made their debut in HCM City. The members of the club include a lot of “big guys” and the well known investors.

It is expected that on December 12, 2013, iNet, the company that provides domain name services would have a meeting with domain name investors in a “Gala Domainer” in HCM City. A similar meeting would be held later in Hanoi.

Ho Thanh Pon, Business Director of iNet, said since the State “turns the green light on” to the domain name trade, it is necessary to set up a legal “playing field” for all players. And iNet plans to gather investors and customers to create such a playing field.

Hoang Ngoc Duy, Director of Mat Bao Media, a subsidiary of Mat Bao, applauding the MIC’s decision, commented that instead of trading domain names underhand, sellers and buyers now can meet in the open.

Duy said it would be better to set up a domain name trading floor – a playing field for sellers and buyers – which operates under the control of the watchdog agencies and strictly obeys the current laws.

“The trading floor will not only serve as the place where fair and transparent buy and sale deals are made. The floor will also take the responsibility of giving consultancy and act as an arbitrator in case of disputes,” Duy said.

Meanwhile, a source from VNNIC said investors have become “exceedingly optimistic.”

He said that in principle, the domain name trading will be legalized, but this will be put under the strict control to avoid possible problems.

The Vietnamese domain names are believed to be cheap. Five or seven years ago, in thoughts of many people, speculating domain names was a foolish job. However, things are getting quite different. The investment in domain names has become “fashionable.”

In Vietnam, Nguyen Trong Khoa proves to be the best known domain name speculator. Khoa, called the “domain name godfather” reportedly owns thousands of domain names.

Chi Mai

MORE NEWS

Vietnamese films earn big profits during Tet

Nha Ba Nu (The House of No Man) has been the highest-grossing Vietnamese film during the Tet (Lunar New Year) holiday.

PM to hold dialogue with young people in March

Prime Minister Pham Minh Chinh will hold a dialogue with young people in Hanoi on March 26, the Government Office has announced.

Internet slows as four out of five submarine cables suffer disruptions

Vietnamese internet service providers have confirmed that four out of five submarine internet cables that connect the country to the world are experiencing issues, seriously affecting performance and reliability.

Politburo Resolution 31 gives momentum to HCM City to 'take off'

Experts say that policies from the Politburo’s Resolution 31 will give momentum to HCM City to grow strongly, but also pose big challenges for the city.

Billionaire's companies make big profits during difficult period

The businesses owned by the dollar billionaire Pham Nhat Vuong have all reported record-high revenue at a time when the real estate market has been bogged down in difficulty.

Outstanding policies take effect in Vietnam from February 2023

A string of policies on transferring money from Viet Nam to other countries, a 50-percent fee reduction when registering for permanent residence

Spiritual milestones affirm Vietnam’s sovereignty in the sea

Nine pagodas formed from shrines or small Buddha statues erected a long time ago in the Truong Sa archipelago by Vietnamese fishermen are not only places of religious and belief activities but also the country’s sovereignty milestones on the sea.

Vietnam to attend ASEAN Tourism Forum 2023 in Indonesia

Vietnam will participate in ASEAN Tourism Forum (ATF) 2023 themed “ASEAN: A Journey to Wonderful Destinations”, and the Travel Exchange (TRAVEX) trade fair in Yogyakarta, Indonesia from February 2 – 5.

Hanoi and Ho Chi Minh City among safest cities in Southeast Asia

Hanoi and Ho Chi Minh City have both been included in a list of the safest cities in Southeast Asia, as compiled by statistics site Numbeo.

Action plan issued to accelerate national anti-corruption strategy building

Deputy Prime Minister Le Minh Khai, head of the steering committee on building the national anti-corruption strategy by 2030, has signed a decision on the issuance of the committee’s action plan.

VIETNAM BUSINESS NEWS JANUARY 31/2023

Latest guidance on one-way money transfers from Viet Nam

HCM City proposes removing hindrances to develop real estate market

Ho Chi Minh City authorities made a proposal to clear bottlenecks for healthy and sustainable development of the real estate market.

More high-value foreign investment projects needed as tax policies change

Vietnam needs to improve FDI quality, attracting high-tech projects that promise to bring higher added value.

Khmer's ginger cake of love and faithfulness

The ginger cake of the Khmer ethnic group in Soc Trang Province is a beloved traditional treat that is often offered to ancestors on important anniversaries such as the Tet (Lunar New Year) festival.

HCM City promotes digital transformation in education

Digital transformation is considered key to improving education and training quality, as proven by the effect of HCM City actively applying digital transformation over the past five years.
back_to_top