On 16 May 2024, the Government issued Decree No. 55/2024/ND-CP (“Decree 55/2024“) guiding certain articles of the Law on Consumer Rights Protection. The decree came into effect from 1 July 2024 together with the Law on Consumer Rights Protection.
This Update provides a high-level summary of the key provisions introduced by Decree No. 55/2024.
Among other things, Decree 55/2024 defines “influencers” who are regulated under the Law on Consumer Rights Protection and prescribes the detailed regulations that apply to “large digital platforms” which facilitate electronic e-transactions, established and operated for business activities in cyberspace, and either (i) have at least 3,000,000 active user accounts annually in Vietnam, or (ii) are classified as large or very large intermediary digital platforms under electronic transaction laws.
For more information, click here to read the full Legal Update.
