Adequate protection of intellectual property encourages entrepreneurialism, supports private sector development, and promotes growth of high-tech ecosystems and high-paying jobs for educated workers. In addition, IP protection is critical to fostering innovation. Without protection of ideas, businesses and individuals would not reap the full benefits of their inventions and would focus less on research and development. Similarly, artists would not be fully compensated for their creations and cultural vitality would suffer as a result.
Late last year, the Ministry of Science and Technology published a draft amended of the Law on Intellectual Property (IP Law) following the recent signing of the Regional Comprehensive Economic Partnership (RCEP). The 2005 IP Law was amended in 2009 following Vietnam’s accession to the WTO, and was amended again in 2019 after Vietnam signed the European Vietnam Free Trade Agreement (EVFTA) and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP). The current draft amendments include revisions and/or supplements on 80 articles, including 13 new articles added to the current IP Law.
AmCham will issue comments to the government later this week about the draft IP Law and we need your input. In this regard, members are invited to join a virtual meeting tomorrow morning featuring an overview of the draft IP Law from Tran Manh Hung, Country Managing Partner of BMVN. Hung will brief members on some of the troubling provisions that we aim to fix.
AmCham Virtual Meetings provide unprecedented access to the political, policy, corporate, and institutional leaders whose expertise, insights, and experience shape the global business climate. There is no cost to participate. This virtual meeting is English-language only and will use the Microsoft Teams platform. You may join the conversation from either your desktop or smartphone. Please register your participation by clicking on the button below or by calling the AmCham office. Registered participants will receive an email on Monday evening with the URL link and instructions.