Foreign-invested firms interested in cyber security, IP rights
![]() |
At the VBF 2018
The event was jointly organised by the Ministry of Planning and Investment, the World Bank (WB), the International Finance Corporation (IFC) and the VBF Consortium’s Management Board in Hanoi on December 4.
Participants heard that all nations, including Vietnam, are facing the pressing need for a balance between national security and social order and security; privacy of data and personal information; and socio-economic development through digital platforms.
The digital-based socio-economic development is driven by cross-border data transmission ability and widespread availability of the Internet.
In fact, many foreign businesses operating in Vietnam are utilizing the most advanced information technology in business and cross-border trade. Many companies are using cloud computing, social networking, online payment, and smart technologies to run their business activities.
As these technologies are provided by foreign suppliers, most of which have no establishments or branches in Vietnam, so these businesses need to be able to transmit data across countries.
According to economic experts and representatives from foreign business associations, the Law on Cyber Security, promulgated in June 2018, has certain impacts on Vietnam’s future attractiveness and competitiveness in attracting foreign investment towards high technology and innovation.
Co-Chairman of the European Chamber of Commerce (EuroCham) in Vietnam Denis Brunetti highlighted the important role of information technology and technological innovation in Vietnam's socio-economic development over the last 25 years, saying that access to mobile services and the Internet via mobile broadband nationwide has contributed to the country’s comprehensive growth.
According to EuroCham, online copyright violations should be addressed rigorously by amending the Law on Intellectual Property and increasing administrative fines in order to turn Vietnam into a more attractive investment and business environment.
The Government of Vietnam should make wider assessments of the impacts of the Law on Cyber Security on foreign direct investment and the national economy, said Nicolas Audier who is also Co-chairman of Eurocham.
Michael Kelly, Chairman of the American Chamber of Commerce (Amcham) in Vietnam, expressed his wish to work with the Vietnamese Government in developing effective preventive policies and enhance cyber security, towards creating an open, innovative, and secure online environment, which can promote trade.
Related News
![EU firms’ confidence in Vietnam increases again: EuroCham](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/102023/09/15/croped/bci-120231009153600.9359700.jpg?231009033650)
EU firms’ confidence in Vietnam increases again: EuroCham
15:36 | 09/10/2023 Import-Export
![Bankers propose resolution to support firms, people](https://english.haiquanonline.com.vn/stores/news_dataimages/2023/072023/21/15/croped/banks20230721151523.5438240.jpeg?230721031608)
Bankers propose resolution to support firms, people
15:16 | 21/07/2023 Finance
![Vietnamese food firms attend China’s SIAL Shanghai 2023](https://english.haiquanonline.com.vn/stores/news_dataimages/nguyenhung/052023/19/15/croped/thucpham18052320230519152632.9926750.jpg?230519032721)
Vietnamese food firms attend China’s SIAL Shanghai 2023
15:27 | 19/05/2023 Import-Export
![Practical incentives needed to help firms adopt green practices: official](https://english.haiquanonline.com.vn/stores/news_dataimages/nguyenhung/052023/14/17/croped/fdi-attraction-120230514174917.8486480.jpg?230514055019)
Practical incentives needed to help firms adopt green practices: official
17:50 | 14/05/2023 Headlines
Latest News
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
More News
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export
![Indonesia licenses certificates of lobster cultivation for three Vietnamese companies](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/lobster-409720240725140435.9377380.jpg?240725020459)
Indonesia licenses certificates of lobster cultivation for three Vietnamese companies
14:04 | 25/07/2024 Import-Export
![Vietnamese spend nearly 150 trillion VND on online shopping](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/14/croped/e-commerce-901820240725140330.8978560.jpg?240725020351)
Vietnamese spend nearly 150 trillion VND on online shopping
14:03 | 25/07/2024 Import-Export
![Four tens of billion USD export markets](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/22/croped/image00120240724083639-120240724220432.png?240725091715)
Four tens of billion USD export markets
09:17 | 25/07/2024 Import-Export
![Successful digital transformation solutions for wood industry enterprises](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/18/16/152024071210255720240718165847.jpg?rt=20240718165850?240725091456)
Successful digital transformation solutions for wood industry enterprises
09:14 | 25/07/2024 Import-Export
![Vietnamese lychee sold well at Costco stores in Australia](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/screenshot-2024-07-24-091517-547920240724140956.8680410.jpg?240724021028)
Vietnamese lychee sold well at Costco stores in Australia
14:10 | 24/07/2024 Import-Export
![Durian exports forecast to top 3 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/24/14/croped/durian-979820240724140848.8204690.jpg?240724020914)
Durian exports forecast to top 3 billion USD in 2024
14:09 | 24/07/2024 Import-Export
![FTA - support to promote pangasius export](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/15/16/17-ca2024012216053120240715164806.jpg?rt=20240715164809?240724091910)
FTA - support to promote pangasius export
09:19 | 24/07/2024 Import-Export
![Vietnam - France trade reached nearly US$2.5 billion in the first half of the year](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/23/14/croped/image0012024072010161720240723142729.png?240724091832)
Vietnam - France trade reached nearly US$2.5 billion in the first half of the year
09:18 | 24/07/2024 Import-Export
Your care
HCM City annual international travel expo in September
15:15 | 26/07/2024 Import-Export
![Đồng Nai](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/361692-4902364192590514-images2439387-z3245301932583-8e0fcec4c0298cbdd1a67efc377e87d420240726151202.9807900.jpg?240726031245)
Đồng Nai's key export item hopes for recovery
15:12 | 26/07/2024 Import-Export
![Rice exports to set record turnover of 5 billion USD in 2024](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/26/15/croped/medium/1911gaoxuatkhaujpg-410520240726150836.9178600.jpg?240726030900)
Rice exports to set record turnover of 5 billion USD in 2024
15:08 | 26/07/2024 Import-Export
![4 export markets of tens of billions of dollars](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/medium/image0012024072408363920240725154929.png?rt=20240725154931?240726081916)
4 export markets of tens of billions of dollars
08:19 | 26/07/2024 Import-Export
![Difficult for phones to regain No. 1 position in exports](https://english.haiquanonline.com.vn/stores/news_dataimages/2024/072024/25/15/croped/medium/image0012024072309572920240725155916.png?240726081749)
Difficult for phones to regain No. 1 position in exports
08:17 | 26/07/2024 Import-Export