If the revised regulations are successfully implemented, administrative procedures will be much simpler and costs will be reduced for individuals and firms.
Banks and financial intermediaries were facing a number of difficulties and even legal risks due to the shortage of legal framework about e-transactions in the context that the demand for e-transactions was increasing strongly across all sectors in recent years.
The Ministry of Information and Communications is proposing to amend and supplement some articles to the Law on Electronic Transactions No. 51/2005/QH11 in order to solve some shortcomings to fit current reality.
