A representative of Việt Nam Data Security Joint Stock Company presents the DataTrust platform on Wednesday in Hà Nội.— Photo bnews.vn

HÀ NỘI — The Việt Nam Data Security Joint Stock Company has unveiled the DataTrust platform, the first platform to comply with personal data protection regulations in the country.

It was launched on Wednesday at the seminar 'Building Policies for Personal Data Protection' organised by the Ministry of Public Security in Hà Nội.

DataTrust is the first digital platform in Việt Nam to administer privacy rights in the fields of cybersecurity and safeguarding data.

It was developed as a way of providing comprehensive solutions for all organisations and businesses and helps them automate and simplify processes for demonstrating compliance with regulations on personal data protection.

It makes compliance verification processes under current regulations easier to implement, saving time and costs for businesses.

The DataTrust platform provides comprehensive tools to enforce the full rights of data subjects, ensuring maximum compliance for businesses, such as conducting current status reports, compliance reports, administrative procedure reports and implementing the 11 rights of data subjects.

Additionally, DataTrust's proactive compliance monitoring system also helps businesses self-identify compliance issues during the implementation.

Đỗ Hưng Thuận, Chief Technology Officer of Việt Nam Data Security Joint Stock Company said that in Việt Nam, DataTrust was built based on current practical needs, as there was no technological solution to support businesses in the complex and costly process of compliance verification.

"We aim to provide businesses and organisations with a comprehensive, complete and fully legally compliant technological solution for personal data protection in Việt Nam,” he said.

DataTrust helps businesses to comply with and provide compliance easily and quickly, something that most businesses were struggling with previously.

The bank's technology officer said that using DataTrust’s platform for their clients had helped them reduce time, costs and human resources up to 95 per cent, compared to traditional methods.

Along with increasing cybersecurity threats, businesses also face the risk of data breaches.

The company cited an IBM report warning that data breaches could cost companies up to US$5 million. Businesses bear heavier consequences as they increasingly spend more on information recovery services after breaches occur.

In Việt Nam, incidents related to data leaks are also posing many risks and challenges, becoming a concern for many organisations and businesses in complying with current regulations.

The Government Decree 13/2023/NĐ-CP on personal data protection, which came into effect in July 2023, stipulates that organisations and businesses must strictly comply with both management and technical requirements for personal data protection. — VNS