SEA Health Tech Investment Insights
Tech startups will have a seat at the table to help Vietnam
government evolve recent tech and data regulations
Opportunistic health-tech in Vietnam will further the digitalization of healthcare, and work with the government to
evolve and define the regulatory landscape
Digitalization: in general, health-tech is a highly regulated landscape but with many uncertainties. Private hospitals with greater flexibility
have been quick to adopt newer technologies, public healthcare organizations lack the resources and expertise to compete.
Telemedicine: the Ministry of Health's Circular 47/2017 enables and provides guidelines for doctors to provide telemedicine services,
requiring IT infrastructure and licensing standards. In April 2020, the country launched a telemedicine app designed for Covid-19 and general
healthcare.
2019 saw various laws protecting user data in Vietnam, companies operating in the country to be held to regulations
similar to those of GDPR
Personal Data Protection: in December of 2019, the Ministry of Public Security published the first draft of the Decree on Personal Data
Protection. It outlines, for the first time, legal terms to protect personal data in Vietnam. Such data includes healthcare status, genetic
information, and biometric data. The decree's laws are similar to that of GDPR.
Law of Cybersecurity: in January of 2019, the law was passed to promote cybersecurity. The most prominent aspect of the law is a
requirement for Vietnamese and foreign enterprises to establish a representative office in Vietnam to be held responsible for the security of
user data.
INSEAD
Sources: AusTrade, 2019; Baker McKenzie, 2020
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