Vice Chairman cum General Secretary of VNBA Nguyen Quoc Hung and Lieutenant Colonel Trieu Manh Tung, Deputy Director of A05, co-chaired the meeting.
Also attending the meeting were representatives of the Vietnam National Credit Information Center (CIC); representatives of members of the Drafting Committee of A05; representatives of the Foreign Banks Working Group (BWG), representatives of the Banking Law Club, and representatives of VNBA member credit institutions.
The meeting was held offline, combined with online at many connecting points of VNBA member organizations.
Vice Chairman cum General Secretary of VNBA Nguyen Quoc Hung
Speaking at the meeting, Dr. Nguyen Quoc Hung said that the Ministry of Public Security has recently chaired the drafting of the Law on Personal Data Protection. This is a very important draft Law, directly affecting the operations of credit institutions.
During the process of drafting the Law, the Vietnam Banking Association, together with its member organizations, contributed many ideas, contributed enthusiastic and responsible comments and sent documents to the State Bank of Vietnam and the Ministry of Public Security. Many comments from the Banking Association have been accepted by the Drafting Committee and adjusted accordingly in the draft Law.
However, there are still some contents that need to be discussed and clarified to have a common understanding. Therefore, the Banking Association organized this meeting to discuss and resolve difficulties, so that when the Law is promulgated, it can both protect the rights and interests of data subjects and create conditions for credit institutions to operate effectively and safely.
Dr. Nguyen Quoc Hung also said that the Banking Association has compiled additional comments from member organizations to discuss further with the drafting unit on the draft Law for consideration and research on appropriate adjustments.
In addition, Dr. Nguyen Quoc Hung also requested that representatives of member credit institutions, when participating in discussions with representatives of the drafting unit on the content of problems, need to explain clearly, concisely, specifically and state the direction of adjustment (if any) accordingly.
Lieutenant Colonel Trieu Manh Tung, Deputy Director of A05, Ministry of Public Security
Speaking at the meeting, Lieutenant Colonel Trieu Manh Tung, Deputy Director of A05 Department, Ministry of Public Security, said that the draft Law on Personal Data Protection was developed on the basis of Decree No. 13/2023/ND-CP on personal data protection, expected to be submitted to the National Assembly at the 9th Session in May 2025.
During the process of developing the draft Law, Department A05 has received many opinions and revised many contents with the view that when put into practice, the Law will create the most favorable conditions for agencies, organizations, businesses and people in using personal data in accordance with legal regulations and ensuring the needs of research, production and business...
Accordingly, the draft is developed in an open direction to deploy and exploit data but still must ensure the highest level of protection of the rights and legitimate interests of data subjects. Therefore, when drafting the Law on Personal Data Protection, Department A05 harmonized the interests of businesses and data subjects.
At the meeting, representatives of the Legal Club under VNBA, together with representatives of member credit institutions and representatives of the Banking Working Group (BWG), highlighted a number of issues related to the subjects of application and scope of application of the draft Law; issues on personal data protection in financial, credit and credit information activities, and clarified the rights of data subjects and how to implement them for data subjects...
In addition, some contents that need to be clarified are: the concepts of basic personal data and sensitive personal data; regulations on personal data protection; prohibited acts in the processing of personal data; regulations on editing personal data or storing, deleting and destroying personal data of data subjects; protecting personal data in advertising services business by behavior or with specific goals...
From those opinions, representatives of the Banking Law Club, member credit institutions and representatives of BWG also proposed solutions to contribute to perfecting the draft law closer to reality such as: clarifying the subjects that need data protection, ensuring conformity, consistency with regulations in the legal system and effective application of regulations, providing regulations on the principles of law application. The draft Law will be a general regulation, applied to all activities of protecting personal data, but at the same time, it allows the application of specialized legal regulations to specifically regulate activities in each field...
Discussing at the meeting, representatives of A05, Ministry of Public Security acknowledged the opinions contributed at the meeting and had answers to clarify the issues raised by credit institutions.
Concluding the meeting, Dr. Nguyen Quoc Hung said that the representative of the drafting unit shared openly and responsibly and explained very clearly each article and clause, especially the viewpoint that the ultimate goal is to protect data subjects. At the same time, he also highly appreciated the responsible comments, highlighting the viewpoints of credit institutions.
Dr. Nguyen Quoc Hung suggested that credit institutions continue to review difficulties and problems for the Banking Association to synthesize. After that, A05 will be sent to continue studying, considering and supplementing the draft Law to be more suitable for the specialized activities of banks. From there, when the draft Law on Personal Data Protection is officially promulgated, it will contribute to helping credit institutions operate safely, effectively and smoothly.
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