Vietnam Greenlights Data Protection, Energy, and Ambitious Rail Project

Vietnam's parliament approved a data protection law, energy legislation, and a resolution for a $67 billion high-speed rail project connecting Hanoi and Ho Chi Minh City. The data law affects personal data processing and international transfers, while the electricity law aims to facilitate renewable energy investments and direct power purchase agreements.

Vietnam's parliament has passed major legislation on data protection, electricity, and a monumental high-speed rail project, marking a pivotal end to its biannual session. The $67 billion rail line, once completed in 2035, will link Hanoi with Ho Chi Minh City, showcasing Vietnam's largest infrastructure undertaking.

The new data protection law imposes stricter rules on personal data processing and international data transfers, posing potential operational challenges for U.S. tech companies in the region. It also grants the government enhanced access to necessary data in certain circumstances within the Communist-run state.

In the energy sector, the freshly minted electricity law is designed to eliminate barriers to investment in renewable energy sources and streamline the approval process for direct power purchase agreements. The comprehensive legal framework aims to unify the currently fragmented regulations across various energy sectors, including offshore, wind, and nuclear power.

(With inputs from agencies.)