Da Nang: Granting Investment Certificates for 14 FDI Projects in The First Month of 2020

In the first month of 2020, Da Nang granted dozens of economic projects, including 14 foreign direct investment (FDI) projects of foreign investors coming to set up company in Da Nang, with a total capital of 1,686 million USD.

The registered projects operate mainly in the fields of food service, information technology and foreign language training.

Accumulated to December 2019, there were 331 projects with a total investment of 104,707 billion VND. In the past 2019, despite removing many obstacles, Da Nang’s investment attraction has prospered. According to Department of Planning and Investment of Da Nang, from January 1st to December 15th 2019, FDI attraction reached 690.76 million USD. In which, there were 132 new projects, with total registered investment capital of 438.042 million USD; 16 projects increased capital with an additional capital of 117.38 million USD; 210 turns of foreign investors contributed capital with the value of 135.334 million USD; granted investment policy decisions for 9 projects with a total investment of over 8,829 billion VND.

Recently, in order to “cool off” traffic congestion in the inner city, Da Nang has spent hundreds of billion VND to renovate urban areas, build concentrated parking lots and renovate intersections. …

In 2020, the city will continue to promote and implement key and motivational transport projects such as Lien Chieu port, relocate railway station, adjust the city’s general plan, build T3 terminal – Da Nang international airport, the project to improve transport infrastructure borrowed from OFID Fund, the western ring road 2, North-West axis I, the consolidation road along both sides of Nam Hai Van bypass road, upgrading DT601 road… In addition, the city will study to promote and deploy urban railway connecting Da Nang with Hoi An city (Quang Nam province); continue to invest in developing public transport, compatible among types of transport in urban areas.

The investment in developing transport infrastructure and improving intersections will not only reduces traffic congestion but also promotes economic development.

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The Growth Trend of Vietnam Telecom Industry

Vietnam telecom industry is a major sector of the economy, contributing to the development of the whole country. This sector is promised to develop rapidly in the future.

Presently, the global economic integration is the inevitable trend of the world, including Vietnam. When Vietnam opens its market and participates in the large economic organizations, the domestic industries and services will have to face with a huge competitive pressure.

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The foreign corporations and companies with abundant capital, modern technology and many experiences in business management will be formidable competitors of the Vietnam businesses. Among many economic sectors, the telecommunication – informatics – information technology sector is considered to play vital role and has made important contributions to economic development. This sector is not only a key economic factor in the integration process, but also has helped to raise the public awareness, as well as contributing to ensure national security and social order. Therefore, the telecommunication – informatics – information technology sector needs to have positive changes, promote expansion and diversification in order to develop the economy in line with global integration.

It can be seen that telecommunication – informatics – information technology sector has always been a potential industry of Vietnam. According to a recent evaluation by expert from Kyunghee University – Korea, Vietnam’s telecommunication – informatics – information technology sector is growing faster than other countries at the same level and this sector also has great potential for development in the future.

The telecommunication market of Vietnam now includes many different types of service, of which there are two main types that are mobile telecommunication service and internet service. In the past period, due to the high competition among telecommunication service providers that customers had more favorable conditions for access to telecommunication and information technology services, lowering the prices of mobile telecommunication and broadband internet services compared with other countries in Southeast Asia.

For the telecommunication market, the race on rates and competition in products and services of the large networks are happening increasingly fierce between local and foreign suppliers. The level of competition on the telecommunication market of Vietnam is forecasted to be more intense as the market has entered the period of saturation and many new service providers have appeared in accordance with WTO accession commitments.

Besides, the training of personnel for the field of informatics – information technology will continue to be focused in the future. In fact, the information technology business is still very understaffed, while many graduated students are unemployed or working in other professions. Therefore, in order to meet the needs of high-quality personnel for the information technology companies, Vietnam has to improve the quality of education from the levels of college, university as well as encourage employees to frequently accessing to new technology, promoting creativity and initiative in their works.

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Cybersecurity law in Vietnam and data privacy issue

Vietnam’s cybersecurity law has been passed on 12/6/2018, will officially come into effect on Jan 1st, 2019. This new law attracts attention, and contributions from many people. From the state management’s perspective, Cybersecurity Law is to protect national security. From business and users’ perspective, organizations that provide Internet services, social networks service, IT services companies, Fintech services, ecommerce websites and individuals whom use these services…. are directly affected groups.

At present, much of the information is stored on e-mail, social networking platforms…According to Article 26 of Vietnam Cybersecurity Law, it is required to “Store in Vietnam for the personal information of people who use services in Vietnam and the important data related to national security; Having headquarters or set up representative offices in Vietnam”. It is understood that only foreign organizations with headquarters or representative offices in Vietnam are permitted to provide internet, social networking, fintech services in Vietnam. Accordingly, to continue the related services in Vietnam, organizations providing services such as the internet, social networks, fintech services need to establish a representative office in Vietnam and for storing data relating to users in Vietnam.

Point a, Clause 2 of Article 26 of Vietnam Cybersecurity Law regulates that organizations provide internet, social network services have to: “establish information authentication mechanism when user registers account; protect confidential information, user accounts; disclose users’ information to network security division under the Ministry of Public Security upon request in writing”. It is suggested that, in order to protect the user’s information and to avoid abuse of power, the Ministry of Public Security should have specific guidelines for management.

According Article 21 of Vietnam’s Constitution in 2013: “everyone has the right to inviolability of private life, personal and confidential family secrets; have the right to defend the honor and prestige” “No one shall be permitted to open, control, illegally seize any correspondence, telephone, telegram and other forms of private communication.” With the introduction of the Vietnam Cybersecurity Law, the management of information, of service providers, and personal private information pose challenges in terms of data privacy.

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Investment Incentives for IT area in Vietnam

Vietnam is attracting investors from around the world to make investment through setting up IT service company in Vietnam

Since 2010, Vietnam has initiated and invested more resources in the information technology which has been realized as an area that could create a competitive edge for Vietnam. Recently, the Vietnam government has put a legal frameworks to attract more investment in this area, with the issuance of Decree No.154/2013/ND-CP, taking effect from Jan 1st, 2014 guiding particularly on management of the focused information technology areas.

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Accordingly, the enterprises at focused information technology areas will enjoy tax benefits i.e. income tax rate of 10% within 15 years, in some specific cases, extended to 30 years; exempt 50% within 5 continuous years. They are exempted the import tax when importing goods to build fixed properties, manufacture such as machines, equipment, parts, assembles.

Besides, these enterprises may enjoy convenient conditions in customs procedure, incentives in export tax, investment credit, import credit and favorable policies for enterprises business in high technology area.

The focused information technology area must have at least 2,000 employees specialized in information technology; in case of emphasizing in software manufacture, digital content, information technology service, 1,000 specialized employees will be employed at least.

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What Are Permits for Importing Cyber Information Security Products? and How to Apply For Trading License in Civil Cryptographic Products and Services?

According to Article 48, Law on Cyber Information Security, the import licenses and permits required for Cyber information security products are regulated as following:

To import cyber information security products on the Government-prescribed list of cyber information security products subject to import permit, an enterprise shall obtain a permit for import of cyber information security products from a competent state agency.

Before importing cyber information security products, organizations and enterprises must have them certified and announced as conformable with regulations.

An organization or enterprise shall be granted a permit for import of cyber information security products when fully meeting the following conditions:

a/ Possessing a license for trading in cyber information security products;

b/ Having cyber information security products certified and announced as conformable with regulations;

c/ Ensuring that users and use purposes of cyber information security products do not harm national defense and security or social order and safety.

The Ministry of Information and Communications shall prescribe in detail the order, procedures and dossier for grant of a permit for import of cyber information security products.

How to Apply For Trading License in Civil Cryptographic Products and Services?

According to Article 32, Law on Cyber Information Security, the application of licenses for trading in civil cryptographic products and services need to follow the following:

1. An enterprise applying for a license for trading in civil cryptographic products and services shall submit a dossier of application for a license at the Government Cipher Committee.

2. A dossier of application for a license for trading in civil cryptographic products and services shall be made in two sets, each comprising:

a/ An application for a license for trading in civil cryptographic products and services;

b/ A copy of the enterprise registration certificate, investment registration certificate or another paper of equivalent validity;

c/ Copies of information confidentiality and security diplomas or certificates of managerial, administration and technical staff members;

d/ A technical plan, consisting of papers on technical characteristics and specifications of products; standards or technical regulations of products; standards and quality of services; technical measures and solutions; and product warranty and maintenance plan;

dd/ A cyber information confidentiality and security plan in the course of management and provision of civil cryptographic products and services;

e/ A business plan, indicating the scope of provision and recipients of products and services, scale and quantity of products and services, customer service networks, and technical assurance.

3. Within 30 days after receiving a complete dossier, the Government Cipher Committee shall appraise it and grant a license for trading in civil cryptographic products and services; if refusing to grant a license, it shall issue a written notice clearly stating the reason.

4. A license for trading in civil cryptographic products and services shall be valid for 10 years.

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What Are Prohibited Acts Under the Law on Cyber Information Security?

The Law on Cyber Information Security has been promulgated in 2015. According to Article 7, Law on Cyber Information Security, prohibited acts are:

1. Blocking the transmission of information in cyberspace, or illegally intervening, accessing, harming, deleting, altering, copying or falsifying information in cyberspace.

2. Illegally affecting or obstructing the normal operation of information systems or the users’ accessibility to information systems.

3. Illegally attacking, or nullifying cyber information security protection measures of, information systems; attacking, seizing the right to control, or sabotaging, information systems.

4. Spreading spams or malware or establishing fake and deceitful information systems.

5. Illegally collecting, utilizing, spreading or trading in personal information of others; abusing weaknesses of information systems to collect or exploit personal information.

6. Hacking cryptographic secrets and lawfully enciphered information of agencies, organizations or individuals; disclosing information on civil cryptographic products or information on clients that lawfully use civil cryptographic products; using or trading in civil cryptographic products of unclear origin.

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