The Data Bill stipulates: The data exchange licensed by the Ministry of Public Security to be established and operated according to regulations is a place to store, manage, trade, exchange, rent, buy, sell and provide data services, with supervision and security assurance.
On the afternoon of October 22, Minister of Public Security Luong Tam Quang, authorized by the Prime Minister, presented a report on the draft Law on Data.
Need to establish a national data development fund
One of the notable contents of the bill, according to Minister Luong Tam Quang, is the regulation on the national data development fund.
Accordingly, Article 29 clearly stipulates that the national data development fund is a non-budgetary state financial fund, established at the Central level to mobilize social resources to support the construction, development, exploitation, application, and management of national data.
This fund is prioritized to support businesses in applying artificial intelligence technology, cloud computing, semiconductor technology... in data processing.
The fund is also used to promote the application of data to serve digital transformation in rural, mountainous areas, areas with difficult or especially difficult socio-economic conditions; the work of building, developing, applying, and processing data of ministries, branches, and localities...
The Fund is not for profit; it cannot be used to overlap with the state budget... The Government shall specify in detail the priority activities for spending from the Fund as well as the establishment, management and use of the Fund.
Examining this content, Chairman of the National Defense and Security Committee Le Tan Toi said that the Committee basically agreed with the regulations on the fund as submitted by the Government.
However, there are opinions suggesting clarifying the financial sources for forming the fund; clearly defining activities that are funded from the state budget, activities that are funded from the fund, ensuring transparency.
There are suggestions to clarify the legal and practical basis for establishing the fund; consider expenditure contents to ensure compliance with the provisions of the law on state budget and other relevant laws.
Should pilot data exchange?
Another content also emphasized by Minister Luong Tam Quang is the regulation on data trading floors.
Article 53 of the draft law stipulates that data exchanges perform the functions of trading, exchanging, buying and selling, and providing products and services related to data in a suitable, accurate, and legal manner to entities requesting the service.
Before making a transaction, the exchange must check and evaluate the compliance with the conditions for participating in the transaction, ensuring security and safety when using data products.
The bill also clearly states that the data exchange licensed by the Ministry of Public Security to be established and operate according to regulations is a place to store, manage, trade, exchange, rent, buy, sell and provide data services, with supervision, ensuring safety and compliance with regulations.
Data products traded must meet requirements such as not affecting security, national defense, cryptography, not violating state secrets, public interests, rights and legitimate interests of agencies, organizations, individuals, etc.
The operating regulations must ensure a number of contents, including information confidentiality, anti-fraud; risk management, handling of complaints and disputes, protection of personal data, etc.
The bill also clearly states that data that is not allowed to be traded includes: Data that is harmful to military, national defense, national security, social order and safety; data that is not consented to by the data subject; data that is strictly prohibited by law.
The Government shall specify in detail the contents related to data exchanges and issue policies to support exchanges.
The review agency basically agreed with the provisions on data exchanges in the draft law. In addition, there were opinions suggesting that this is a new and unique field, so it is possible to consider piloting the application of data exchanges.
Therefore, it is not necessary to specify too much detail in this law for now, but the Government should organize a pilot implementation and report to the National Assembly.
The Data Bill, consisting of 7 chapters and 67 articles, will be discussed by delegates in groups on October 24; discussed in the hall on November 8 and is expected to be voted on and passed on November 30.
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Source: https://vietnamnet.vn/de-xuat-giao-bo-cong-an-cap-phep-thanh-lap-san-giao-dich-du-lieu-2334402.html
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