On July 17, 2023, the National Assembly issued Law No. 20/2023/QH15 (“ET Law 2023”) to replace Law No. 51/2005/QH11 (“ET Law 2005”) on Electronic Transactions. ET Law 2023 will take effect from July 1, 2024.

ET Law 2023 presents a major upgrade with a new set of definitions and a broader understanding of certain terms, while accommodating UNCITRAL model laws on Electronic Commerce (1996), Use and Cross-border Recognition of Identity Management and Trust Services (2022), Electronic Transferable Records (2017), and Electronic Signatures (2001). This reflects an effort to promote electronic transactions and hasten digital transformation.

The puzzles of  ET Law 2023 are unraveled in our writing for your kind information.