Bùi Tá Hoàng Vũ, Director of the HCM City Department of Industry and Trade, speaks at the conference on the implementation of the E-commerce Law and related regulations in HCM City on July 24. — Photo courtesy of the organisers

HCM CITY — HCM City is stepping up efforts to build a safer and more transparent e-commerce ecosystem as authorities accelerate implementation of the new E-commerce Law, which aims to strengthen consumer protection, enhance platform accountability and support the sustainable growth of Việt Nam's digital economy.

The HCM City Department of Industry and Trade, in coordination with the Vietnam E-commerce and Digital Economy Agency under the Ministry of Industry and Trade and other agencies, on July 24 held a conference on implementing the law under the theme "Building a Safe and Transparent E-commerce Ecosystem."

Speaking at the event, Bùi Tá Hoàng Vũ, Director of the HCM City Department of Industry and Trade, said the new law would directly affect businesses and consumers, making it essential for all market participants to understand and comply with the new regulations.

Việt Nam's e-commerce market was estimated at around US$40 billion in 2025, with HCM City accounting for approximately $12 billion. The city's online retail sector expanded by more than 30 per cent last year and is expected to maintain strong growth in 2026.

As the market continues to expand, so do the opportunities for businesses. However, only those that understand and comply with the legal framework will be well positioned to fully capitalise on its growth potential, he said.

Introducing the legislation, Nguyễn Hữu Tuấn, Director of the Centre for E-commerce and Digital Technology Development under the Vietnam E-commerce and Digital Economy Agency, said the law had been designed to protect consumers, ensure fair competition and support the sustainable development of the digital economy.

Among its key provisions are requirements for platforms to disclose product-ranking criteria, improve transparency over recommendation algorithms, strengthen oversight of livestream selling and remove illegal content within 24 hours of receiving requests from authorities.

Cross-border platforms operating Vietnamese-language interfaces or processing at least 100,000 transactions annually in Việt Nam must appoint an authorised legal representative in the country and maintain a minimum VNĐ20 billion security deposit to ensure tax compliance and consumer compensation obligations.

From January 1, 2027, all sellers and livestream hosts operating on intermediary platforms will also be required to complete electronic identity verification (e-KYC).

Panellists at the conference. — VNS Photo

The law also strengthens protections for merchants by requiring marketplaces to provide advance notice before suspending seller accounts or changing platform policies, while allowing sellers to retain access to transaction data for up to three years.

Speaking on the sidelines of the conference, Tuấn said nearly one month after the law took effect, many digital platforms had already begun upgrading their systems to meet the new requirements, including stronger product controls, electronic identity verification, enhanced user data storage and more transparent complaint-handling procedures.

Meanwhile, the Ministry of Industry and Trade is stepping up awareness campaigns to help platforms, merchants and consumers better understand the new legal framework.

"The goal is to create a more transparent e-commerce environment where sellers clearly understand their rights and obligations while consumers enjoy stronger protection," Tuấn said.

The conference also introduced amendments to the Advertising Law, which place greater responsibility on KOLs, KOCs and other online influencers to verify product information, clearly identify sponsored content and take responsibility for misleading advertising.

Meanwhile, HCM City Police urged businesses to strengthen compliance with personal data protection regulations, tax obligations and cybersecurity requirements amid growing fraud involving fake websites and social media accounts.

Businesses welcomed the new legal framework, saying it would help improve transparency and strengthen confidence in the digital marketplace.

Nguyễn Hữu Thọ, a representative of premium South Korean cosmetics brand Be'Balance Vietnam, said the conference had provided valuable guidance on the new E-commerce Law and related regulations, enabling the company to immediately incorporate the new requirements into its operations.

"We believe that transparency and compliance with e-commerce regulations are not only legal obligations but also the foundation of sustainable business development," Thọ said.

Regulators, businesses and digital platforms also discussed implementation challenges, stakeholder responsibilities and practical solutions to improve compliance with the new law.

Organisers said stronger collaboration among regulators, businesses, digital platforms and content creators would help build a more transparent digital marketplace and support the sustainable growth of Việt Nam's e-commerce sector. — VNS