Company

December 15, 2019, 1:51 am

Domain-name trade continues despite lack of legal framework

(07:46:38 AM 23/06/2014)
(Tinmoitruong.vn) - Only 20 percent of Vietnamese businesses have domain names, which opens up opportunities for businesses dealing in domain name trading.

 

Domain names are traded in Vietnam, even though there is no legal framework for the business. The involved parties go ahead with sales because they say they cannot wait for the legal framework to be completed for transfer deals.

 

The Ministry of Information and Communication in 2008 released a circular on the management and use of internet resources, which lifted the ban on domain name trade and transfer. However, the circular was not enough to pave the way for this kind of business.

 

There are hundreds of domain name investors, individual and institutional, mostly in Hanoi and HCM City. Hanoi-based Micronet is one of the investors. It now owns 3,000 domain names and hopes to have an investment portfolio of 20,000 domain names by 2017.

 

The Vietnamese market is believed to have great potential for investors. Under current regulations, domain names cost tens or hundreds of thousand dong to register, and the same sums of money are needed to retain the domain name every year.

 

Meanwhile, investors can transfer the domain name for billions of dong if they can find suitable buyers.

 

BKAV, a well-known Vietnamese internet security solution firm, for example, had to spend VND2.3 billion in 2012 to buy www.bkav.com from an US company which registered the domain name before.

 

Potential market

 

According to the Vietnam Internet Network Information Center (VNNIC), only 20 percent of Vietnamese businesses have registered domain names.

 

Nguyen Minh Hong, director of the Quang Ninh Province’s Information Department, said at a recent workshop on domain names that 1,400 “.vn” domain names and more than 2,000 international domain names had been registered in the province.

 

The province had 11,800 businesses by the end of 2013.

 

“The figures showed that the number of Quang Ninh’s businesses with domain names remains modest. Meanwhile, in the digital era, e-commerce and internet-based ad activities have been developing so strongly,” Hong said.

 

The Ministry of Information and Communication said it was drafting a decree on auctioning and transferring usage rights of digital telecommunication repository and internet domain names.

 

An official of the ministry said the decree will clarify which kinds of domain names can be transferred.

 

The domain names with suffix “.vn” will be transferable, while transfer of domain names related to state agencies and socio-political organisations will be prohibited.

 

The decree will also show the procedures that involved parties need to follow to conduct domain name transfer deals.

 

Tran Minh Tan, Deputy Director of VNNIC, said the ministry is also compiling a circular guiding the management and use of internet resources.

 

Tan, analyzing the domain name market’s history, noted that the number of registered domain names rises sharply every time the policy is adjusted.

 

This shows that policies have a major impact on the development of the domain name market.

Source: TBKTSG
KHÔNG XẢ RÁC BỪA BÃI

Send comments you read about: Domain-name trade continues despite lack of legal framework

* *
*
*
(Environmental News welcomes your opinions read the article. The discussion will be reviewed before posting. Environmental News reserves the right to reject words offend individuals or organizations; words left habits and customs, law violations. Readers discuss accented Vietnamese. Comments do not necessarily reflect the views of the Environmental News. Thank you for your contributions and cooperation of)
KHÔNG XẢ RÁC BỪA BÃI
Cat- center 3
Cat- center 4
 Viet Nam-German Businesses take lead in promoting sustainable development in Industry 4.0

Viet Nam-German Businesses take lead in promoting sustainable development in Industry 4.0

(Tinmoitruong.vn) - Hanoi, 6th December 2017- Leading CEOs from Vietnamese and German businesses have taken a strong stand promoting sustainable development through responsible use of natural resources in the Forum “Beyond APEC 2017 – Sustainable development opportunities for corporate sector” held today in Hanoi.

Cat- center 6
  HCMC not extend removal deadline to polluting firms

HCMC not extend removal deadline to polluting firms

(Tinmoitruong.vn) - Mr. Tat Thanh Cang, deputy chairman of Ho Chi Minh City People’s Committee, said it is impossible to extend the removal deadline on December 31 to polluting businesses in the city, at a meeting on Wednesday.

Cat- center 7