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HANOI/WAM
Vietnam plans to strengthen the existing Law on Advertising with a key focus on social media marketing, Vietnam News Agency (VNA) reported on Friday.
The draft law proposing amendments and supplements to several provisions of the Law on Advertising will be up for discussion at the next session of the National Assembly.
Proposals to tighten control, which have sparked significant interest and debate among the public, will be discussed at the 8th session of the 15th National Assembly in October 2024.
According to Statista, the Vietnamese advertising market was projected to generate nearly US$2.3 billion in revenue in 2023, with online advertising accounting for the largest share at approximately US$1.21 billion.
The Vietnam Advertising Association forecasts that in 2024, online advertising could reach between US$3-4 billion.
The draft law stipulates that foreign entities involved in cross-border advertising in Vietnam must adhere to local regulations, notify relevant authorities, avoid placing ads on illegal content and comply with requests for the removal of unlawful information.
Additionally, the draft law incorporates new rules for influencers involved in advertising, in line with the Law on Consumer Protection.