Saturday, 26/07/2025
   

VNBA seeks members' opinions on draft Decrees detailing the Data Law

The Vietnam Bank Association (VNBA) has just sent an official dispatch to the General Directors of member organizations to solicit opinions on the draft Decrees detailing the Data Law.

VNBA seeks members' opinions on draft Decrees detailing the Data Law

According to Official Dispatch No. 77/CNTT5 dated January 17, 2025 of the Department of Information Technology - State Bank of Vietnam on soliciting opinions on 03 Draft Decrees of the Government detailing the Law on Data: (1) Draft Decree detailing a number of articles and measures for implementing the Law on Data; (2) Draft Decree regulating the National Data Development Fund; (3) Draft Decree regulating scientific, technological, innovation activities and data products and services.

The Ministry of Public Security said that the draft Decree on the Law on Data aims to complete the legal framework for the construction, development, protection, administration, processing, and use of digital data, the National Data Center, the National General Database, and state management of digital data. At the same time, it aims to ensure the rights, obligations and responsibilities of agencies, organizations and individuals related to digital data activities to create unity, synchronization and effective use of data to serve state management and serve the development of digital government as well as reform, reduce administrative procedures and develop socio-economy.

In addition, it ensures feasibility and effectiveness, meeting the guidelines and policies related to digital transformation of the Party and State and the integration requirements of Vietnam with countries in the region and the world. Institutionalize and perfect the legal corridor to promote digital transformation, develop and effectively exploit the National General Database, develop digital government, digital economy and digital society.

Accordingly, the draft Decree on the Data Law has 05 Chapters with 30 Articles, specifically: Chapter I, general provisions including 02 Articles (from Article 1 to Article 2) stipulates the scope of regulation and applicable subjects.

Chapter II on data processing activities includes 10 articles (from Article 3 to Article 12) regulating criteria for determining important data; criteria for determining core data; data storage activities; data access and retrieval; supporting data owners in connecting and sharing data with state agencies; providing data to state agencies; data confirmation and authentication; data disclosure; data encryption and decryption; cross-border data transfer and processing; other activities in data processing.

Chapter III, on data administration, management and protection includes 03 articles (from Article 14 to Article 16) regulating data administration and management; determining and managing risks arising in data processing; data protection.

Chapter IV, on the National Data Center, the National General Database, consists of 06 articles (from Article 17 to Article 22) regulating the infrastructure of the National Data Center; the responsibilities of the National Data Center, ensuring resources, developing the National Data Center; exploiting and using the National General Database; connecting and sharing data with the National General Database; providing data to the National General Database. Chapter V, on the implementation provisions, consists of 9 articles (from Article 23 to Article 31) regulating the effective date of the implementation; the responsibilities of the Ministry of Public Security, the responsibilities of the Ministry of Information and Communications; the responsibilities of the Ministry of National Defense; the responsibilities of the Ministry of Science and Technology; the responsibilities of the Ministry of Home Affairs; the responsibilities of the Government Office; the responsibilities of the Government Cipher Committee; the responsibilities of ministries, ministerial-level agencies, government agencies and People's Committees of provinces and centrally run cities.

VNBA requests member organizations to provide comments on these 03 draft Decrees.

Please send your comments (including word files) to the Vietnam Banks Association via email: thuptm.vnba@gmail.com before January 22, 2025; Mobile: 0339.120.916 - Ms. Minh Thu).

VNBA News

  • Capital poured into agriculture, rural areas

    Capital poured into agriculture, rural areas

    Credit growth for agriculture and rural development in Việt Nam rose 5.31 per cent in the first half of 2025 compared to the end of 2024, accounting for 23.16 per cent of the country’s total outstanding loans.

  • Interest rate developments applied by credit institutions in June 2025

    Interest rate developments applied by credit institutions in June 2025

    State Bank of Vietnam has just released the interest rate developments of credit institutions in June 2025

  • Interest rate cut requires a trade-off in foreign exchange rate

    Interest rate cut requires a trade-off in foreign exchange rate

    Phạm Chí Quang, Director of the State Bank of Vietnam (SBV)’s Monetary Policy Department, talks about the cause of the đồng devaluation and forecasts the đồng in the second half of 2025.

  • SBV Action Plan to implement the National Strategy on Green Growth

    SBV Action Plan to implement the National Strategy on Green Growth

    State Bank of Vietnam (SBV) has coordinated with the German Agency for International Cooperation (GIZ), the International Finance Corporation (IFC), and the Swiss Secretariat for Economic Affairs (SECO) in organizing a Workshop to promote the implementation of the Banking Sector's Action Plan to implement the National Strategy on Green Growth for the period 2021 – 2030, and the Launching Ceremony of the Handbook on Environmental and Social Risk Management System in Credit Granting Activities.

  • Autonomy and stability balanced via credit reform

    Autonomy and stability balanced via credit reform

    The State Bank of Vietnam is setting out a roadmap towards removing credit growth ceilings, accompanied by efforts to enhance the autonomy of credit institutions.

  • More than 86 million bank accounts to be terminated from September 1

    More than 86 million bank accounts to be terminated from September 1

    The SBV stated that the deletion of over 86 million bank accounts was considered a system cleanup measure.

  • Vietnamese banks set for growth on major policy shift

    Vietnamese banks set for growth on major policy shift

    Experts believe that if managed properly, lifting credit room restrictions will enhance lending flexibility, allowing for a more natural adjustment of capital supply and demand, thereby facilitating investment and production needs in the economy.

  • Completing the legal framework for green finance development

    Completing the legal framework for green finance development

    On July 15, 2025, in Hanoi, the Policy Committee of the Vietnam Banks Association (VNBA) successfully organized a Seminar with the theme "Completing the legal framework to facilitate the operations of credit institutions related to green finance". The event brought together many leading experts, representatives of management agencies and financial institutions to discuss solutions to promote the sustainable development of green credit in Vietnam, in line with the country's potential and goals.

  • Vietnam Banks Association debuts its Risk Committee

    Vietnam Banks Association debuts its Risk Committee

    On July 16, 2025, in Hanoi, the Vietnam Banks Association (VNBA) officially announced and launched the Risk Committee under the Association Council.

  • Data is crucial for banking industry to move to new development phase

    Data is crucial for banking industry to move to new development phase

    The banking industry, one of the leading fields in applying technology and digitalising services, has all the conditions to move to a new development phase where data is considered the centre for all operations, decision-making and customer service, Vice Chairman and General Secretary of the Vietnam Banks Association (VNBA) Nguyễn Quốc Hùng said on Wednesday.

Calculate deposit interest
VNĐ
%/year
month
Calculate deposit interest

Loan calculation
VNĐ
%/year
month
Loan calculation