According to the 2025 Law and Ordinance Development Program, the draft Law on Personal Data Protection will be submitted to the National Assembly for comments at the 9th Session (May 2025) and approved at the 10th Session (October 2025).
Currently, the draft Law on Personal Data Protection is being consulted for completion. This is considered a huge step forward because in fact, users' personal data is being used widely.
One of the contents that has received attention related to personal data is the management of the exploitation and use of personal information on social networking platforms. In particular, recently, many scams from personal information have been leaked online, causing many people to worry.
However, sanctions to handle subjects who use personal data for the wrong purpose are not specific, timely and lack deterrence.
In order to serve the review, acceptance and revision of the draft Law on Personal Data Protection, the survey team of the National Defense, Security and Foreign Affairs Committee recently had working sessions with a number of commercial banks.
The purpose of the survey is to assess the implementation of policies and laws on personal data protection, clarify the achieved results; difficulties, obstacles and causes...
In particular, learn about the results of organizing the implementation of regulations on personal data protection in financial activities, credit, credit information; Organization of personal data protection, personal data processing services;...
A representative of Vietnam Technological and Commercial Joint Stock Bank (Techcombank) said that in the digital age, personal data has become a valuable asset, not only for individuals but also for businesses, organizations and digital platforms.
The development of the Law on Personal Data Protection is an important step forward in ensuring the country's information security, while creating strong trust for people and businesses.
Commenting on the draft Law on Personal Data Protection, Techcombank representatives hope to receive clear and detailed instructions on not to buy, sell credit information or illegally transfer credit information between financial and credit institutions in Article 30 to ensure compliance without obstructing essential financial activities.
This is expected to directly affect the operations of credit information centers under the State Bank of Vietnam (CIC) and Credit Information Joint Stock Company of Vietnam (PCB) and disrupt the risk assessment and lending process.
Meanwhile, a representative of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank) commented that it is not objective and complete to only collect credit information "directly from customers" to "score" the bank.
Especially in cases where customers do not provide accurate, complete, and objective information, causing incorrect scoring results, leading to risks for the bank.
Therefore, Vietinbank proposes to add the content: "banks can supplement credit information from credit information providers operating in accordance with legal regulations".
Vice Chairman of the National Assembly's Committee on National Defense, Security and Foreign Affairs Nguyen Minh Duc said that the opinions of the two bank representatives are very useful and practical so that the Committee has more basis to complete the review, acceptance and revision of the draft Law.
Thereby, perfecting our country's legal system on personal data protection, creating a legal corridor for personal data protection, improving the capacity to protect personal data for domestic organizations and individuals to access international and regional standards.
