Digital transformation is reshaping the way goods are traded, while also creating new requirements concerning contracts, data, electronic evidence, and legal risk management. These issues were discussed by experts at the conference “Digital Transformation in Goods Transactions: From Partial to Comprehensive Implementation.”
On August 19, in Ho Chi Minh City, the Ho Chi Minh City Trade and Investment Promotion Center (ITPC) collaborated with the Vietnam International Arbitration Centre (VIAC) to organize the conference, which was attended by more than 200 delegates, including business representatives, lawyers, and experts in commercial and legal fields.
The event was held as part of the Ho Chi Minh City Corporate Legal Governance Event Series 2026 (LMS 2026).
Digital Transformation Creates New Governance Requirements
According to Ms. Hồ Thị Quyên, Deputy Director of ITPC, digital commerce is shifting from digitizing individual processes toward building highly interconnected ecosystems. This trend creates opportunities to enhance competitiveness, optimize costs, and expand market reach.
However, businesses also face risks related to fraud, data protection, cybersecurity, infrastructure, and human resources.
From the perspective of dispute resolution practice, Lawyer Châu Việt Bắc, Deputy Director of the VIAC Ho Chi Minh City Branch, noted that risks may also arise during contract performance, potentially leading to complex consequences when disputes are resolved. Therefore, businesses should pay close attention from the stages of negotiation and contract execution, particularly in controlling and retaining data.
Electronic Contracts Require Early Preparation
During the discussion on the digitalization of transactions, Lawyer Lưu Xuân Vĩnh – Founding and Managing Lawyer of Asia Legal, shared insights into the trend toward fully electronic transactions in the trading of goods.
According to Lawyer Lưu Xuân Vĩnh, this is an inevitable trend as businesses accelerate digital transformation. However, the process requires coordinated preparation in terms of both infrastructure and legal frameworks to mitigate potential risks.
The discussion focused on the principles, components, and operation of electronic contracts. While electronic contracts share similarities with traditional contracts, their validity and legal enforceability in the digital environment require careful consideration.
Data storage and management also need to be properly controlled, particularly when data is managed on third-party platforms. Businesses should clearly define the responsibilities of each party and establish appropriate mechanisms for handling issues as they move toward comprehensive digital transformation.
Digital Technology Is Transforming the Way Transactions and Disputes Are Handled
Assoc. Prof. Dr. Nguyễn Xuân Minh, Permanent Deputy Director of Foreign Trade University in Ho Chi Minh City – Ho Chi Minh City Campus, noted that digital transformation is affecting the entire transaction process, from finding business partners and negotiating to entering into contracts, performing obligations, and resolving disputes.
AI, smart contracts, blockchain, electronic documents, and interconnected digital ecosystems are becoming increasingly common, helping reduce manual processing, shorten processing times, enhance transparency, and improve global connectivity. However, the rapid development of technology also creates new requirements concerning authority, data integrity, and the responsibilities of the parties involved.
According to Assoc. Prof. Dr. Nguyễn Xuân Minh, many disputes stem from gaps in legal governance. Businesses therefore need to integrate technology, governance, and legal considerations from the outset of a transaction.
From the perspective of B2B e-commerce, Lawyer Vũ Lê Bằng, Managing Lawyer at Nishimura & Asahi Vietnam Law Firm, noted that digitalization is gradually transforming transaction models and creating new requirements concerning legal validity. Businesses therefore need to pay attention to legal validity, transaction authentication, electronic evidence, and risk management.
Data Control for Proactive Dispute Prevention
In the second discussion session, experts focused on potential risks arising from the use of electronic elements in goods transactions.
Mr. Vũ Xuân Hưng, Head of the Legal Department of VCCI-HCM, pointed out several issues, including the time and place of contract formation, the authority of signatories, and incompatibility between different systems.
According to him, businesses should not simply transfer traditional transactions to the digital environment. Digital transformation should go hand in hand with the design of appropriate processes and dispute prevention mechanisms. Four key elements were highlighted: regulations, tools, data storage, and dispute resolution solutions.
Meanwhile, Lawyer Nguyễn Công Phú, Partner at LNT & Partners, focused on electronic evidence. Emails, system data, and electronic documents may be used to establish the course of a transaction. However, the evidentiary value of such data depends on how it is created, sent, received, and stored.
Businesses should therefore develop a data retention strategy from the outset of contract performance.
Integrating Technology, Governance, and Legal Considerations
Through the discussion sessions, experts noted that digital transformation in goods transactions is not merely a technological matter. Businesses need to integrate technology, governance, and legal considerations to effectively manage risks.
Proactively managing contracts, data, and evidence from the outset can provide businesses with a stronger basis for handling disputes and protecting their lawful rights and interests when conducting transactions in the digital environment.
Follow Asia Legal for useful legal updates and practical insights to help businesses take a more proactive approach to digital transactions.
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