A performance of the 'Tinh Hoa Việt Nam' (Vietnamese Quintessence) cultural programme. The Ministry of Culture, Sports and Tourism proposes to encourage the development of a trading platforms system. — Photo courtesy of bvhttdl.gov.vn

HÀ NỘI — The Ministry of Culture, Sports and Tourism is seeking public opinion on a draft Law on Cultural Industry Development that proposes encouraging the development of a trading platform system.

The system is aimed at fostering the commercialisation of products, intellectual property rights, and other assets within the cultural industries.

Opening for public opinion at https://bvhttdl.gov.vn/y-kien-cho-van-ban-du-thao?dtid=7735 until August 24, 2026, the ministry said cultural industry trading platforms as cited in the draft law may be organised in one of the following forms: a trading platform for cultural industry products; a trading platform for intellectual property rights and rights to exploit intellectual assets within cultural industries; or a comprehensive trading platform.

The draft law stipulates that the organisation and operation of cultural industry exchanges must adhere to principles such as compliance with laws on intellectual property, commerce, electronic transactions, data protection, competition, and other relevant regulations.

They should ensure transparency and equality, safeguard participants' legitimate rights and interests, verify participating entities, maintain transaction traceability, and protect information security. They should also facilitate data connectivity and sharing for State management purposes in accordance with the law.

Regarding the exchange for intellectual property rights and cultural industry products, the draft defines it as a cultural industry trading platform specialising in listing, brokerage, transfer, licensing for exploitation, auctioning, trading and transaction support activities concerning intellectual property rights and rights to exploit intellectual assets, and cultural industry products, in accordance with the law.

The draft also stipulates provisions regarding intellectual property rights and the right to exploit intellectual property assets and cultural industry products traded on the exchange, meeting all legal conditions; in cases that assets are serving as security for the performance of obligations or they are subject to a dispute, transactions involving them must comply with relevant legal regulations.

Furthermore, the exchange operator is responsible for ensuring technical standards, system safety, cybersecurity and the transparency of trading activities; verifying information provided by organisations and individuals in accordance with the law; and publicly disclosing operating rules, trading procedures, mechanisms for resolving complaints and disputes, and the responsibilities of participating parties.

At the same time, the operator must store information and transaction data; establish connections and share data with competent State agencies in accordance with the law; implement measures to detect, warn against and prevent fraud, forgery, intellectual property rights infringement, and other unlawful acts; and comply with statutory reporting requirements.

According to the draft, the Government will issue detailed regulations on the conditions for establishment, organising, operation, management, and supervision of cultural industry trading platforms. — VNS