Vietnam approves data, electricity laws, $67 bln rail plan

30/11/2024 17:06

        Vietnam's parliament approved laws on data protection and electricity, as well as a resolution supporting a $67 billion high-speed rail project on Saturday, the last day of its twice-yearly regular session.
        
        The railway, Vietnam's most ambitious infrastructure project, is to run from the capital Hanoi to the southern business hub of Ho Chi Minh City. The 958-mile project is expected to be completed in 2035.
        
        The data law tightens requirements on personal data processing and data transfer overseas, a move that groups representing U.S. tech firms have said could hamper their operations in the Southeast Asian country.
        
        The law will also facilitate the government's access to data when authorities in the Communist-run nation consider that necessary.
        
        The electricity law is expected to remove some hurdles for investment in energy projects in Vietnam and speed up approvals of so-called direct power purchase agreements, which allow manufacturers to negotiate electricity supplies directly with providers of renewable energy.
        
        The measure aims to create a more comprehensive legal system for the energy sector, which is now subject to multiple, separate regulations.