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.

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