According to the Vietnam Chamber of Commerce and Industry (VCCI), the proposed changes are expected to affect a wide range of businesses across the economy.
Under the proposed amendments to the Competition Law, new criteria related to data, network effects and algorithms would be introduced to assess and regulate the market power of online platforms. The draft also seeks to prevent anti-competitive practices such as self-preferencing products and services or forcing users to utilize other services within the same digital ecosystem.
The move is considered a necessary step toward strengthening oversight of large digital platforms. It also marks the first time that market power in the digital environment would be assessed using broader and more substantive criteria rather than relying solely on traditional measures such as revenue or market share.
The draft reflects a shift toward a more nuanced understanding of market power in the digital age. While revenue remains an important indicator, a platform's true influence often stems from its access to user data, network effects and the scale of its online ecosystem.
Another key focus of the proposed amendments is the fight against counterfeit goods, an issue that has drawn increasing public attention in recent years.
Current anti-counterfeiting efforts are complicated by regulations scattered across various legal instruments. By codifying the definition of counterfeit goods in the Commercial Law, policymakers aim to strengthen legal certainty and improve the effectiveness of inspections, investigations and enforcement measures.
Notably, the draft adopts a broader definition of counterfeit goods, evaluating not only labels and outward appearance but also a product’s utility, functionality, quality and intrinsic characteristics. This approach better reflects market realities, where many products resemble genuine goods in appearance but fail to meet declared quality standards or intended performance requirements.
As the digital economy continues to expand, the gap between market developments and legal frameworks risks widening. The proposed amendments are therefore aimed not only at improving the legal system but also at ensuring that regulations evolve alongside the market.
As the digital economy continues to evolve, regulatory gaps can easily be exploited, creating opportunities for unfair competition and the proliferation of counterfeit products.
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