In late January 2022, the Vietnam Ministry of Public Security ("MPS") issued a draft Decree on Conditions for Trading Network Security Products and Services ("Draft Decree").
The Draft Decree will regulate network security products and services; conditions for trading network security products and services; procedures for granting trading license for network security products and services.
A broad range of products/services will be under the purview of the Draft Decree, including but not limited to (i) secret information collecting products; (ii) network security control products; (iii) network information suppression products; (iv) digital forensic products, digital investigation; (v) specialized cyber-attack products; (vi) products to detect spyware, cyber weapons; (vii) products that detect the risk of causing network security incidents, revealing or losing State secrets in cyberspace; and (viii) products against attacks and intrusions into important national security information systems.
"Products" are defined to include both software and hardware.
The Draft Decree is expected to be issued and effective within 2022, and the grace period will be up to 6 months.
The Draft Decree will potentially impact on businesses engaged in trading both software and hardware.