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Digital signatures and e-commerce get quasi-governmental approval in Hanoi. Source: Shutterstock

Hanoi: digital signature and e-commerce organization inaugurated

WHILE only some organizations and precious few governments take digital signatures seriously, things are different in Vietnam. Today in Hanoi, the Digital Signatures and E-Commerce Trading Organization (VCDC) has officially launched.

Vu Quoc Thanh, Vice President and General Secretary of the Vietnamese Information Security Association (VNISA), announced the inauguration of the organization, promising to ensure that conditions would be provided in the country to allow the VCDC and its aims to prosper.

The head of the VCDC, Ngo Tuan Anh, said:

“VCDC helps its members share professional experiences with one another. Together, we are committed to developing a healthy, sustainable market, contributing to the expansion of e-transaction services, as well as the establishment of e-Government in Vietnam.”

The founding members gather in Hanoi, Jan 23. Source: VNISA

In recent years, electronic transactions using digital signatures have become increasingly popular in the country. According to the General Department of Taxation, more than 90 percent of enterprises have applied digital signatures when declaring and submitting tax returns. In addition, digital signatures are also used in important financial services such as electronic invoices and e-insurance and are rapidly finding traction in e-commerce.

As a region, Asia is in the process of embracing electronic monetary transaction at a rate much higher than the rest of the world, with even contactless payments still a rarity in much of North America and parts of Europe. In this sense, Vietnam’s government-level acknowledgment of the trend is a positive sign for the country’s businesses.

“We hope the Digital Signatures and E-Commerce Trading Organization will become a focal point, share its knowledge with government agencies, and contribute ideas to build and improve policies in this field,” said La Hoang Trung, director of the National Endorsement Center of the Ministry of Information and Communications, at the inauguration event.

The VCDC launched comprising seven co-founders: Viettel, VNPT Vinaphone, FPT IS, Nacencomm, NewCA, Vina CA and Bkav. Mr. Ngo Tuan Anh, Vice President of Bkav was elected as the Chairman of the VCDC, while the vice-chairmanship went to Hua Tien Thanh, Product Manager of Viettel-CA.

The organization will admit new members which represent larger enterprises providing value-added products and services via electronic transactions.