Only 20 percent of Vietnamese businesses have domain names, which opensup opportunities for businesses dealing in domain name trading, theEnglish language news website VietNamNet Bridge reported.
Domainnames are traded in Vietnam, even though there is no legal framework forthe business. The involved parties go ahead with sales because they saythey cannot wait for the legal framework to be completed for transferdeals.
The Ministry of Information and Communication in 2008released a circular on the management and use of internet resources,which lifted the ban on domain name trade and transfer. However, thecircular was not enough to pave the way for this kind of business.
Thereare hundreds of domain name investors, individual and institutionalinvestors, mostly in Hanoi and Ho Chi Minh City. Hanoi-based Micronet isone of these investors. It now owns 3,000 domain names and hopes tohave an investment portfolio of 20,000 domain names by 2017.
TheVietnamese market is believed to have great potential for investors.Under current regulations, domain names cost tens or hundreds ofthousand dong to register, and the same sums of money are needed toretain 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 2.3 billion VND in 2012 to buy www.bkav.com from an UScompany which registered the domain name before.
According to theVietnam Internet Network Information Centre (VNNIC), only 20 percent ofVietnamese businesses have registered domain names.
Nguyen MinhHong, Director of the Quang Ninh province’s Information Department,said at a recent workshop on domain names that 1,400 “.vn” domain namesand more than 2,000 international domain names had been registered inthe province.
The province had 11,800 businesses by the end of 2013.
“Thefigures showed that the number of Quang Ninh’s businesses with domainnames remains modest. Meanwhile, in the digital era, e-commerce andinternet-based ad activities have been developing so strongly,” Hongsaid.
The Ministry of Information and Communication said it wasdrafting a decree on auctioning and transferring usage rights of digitaltelecommunication repository and internet domain names.
An official of the ministry said the decree will clarify which kinds of domain names can be transferred.
Thedomain names with suffix “.vn” will be transferable, while transfer ofdomain names related to state agencies and socio-political organisationswill be prohibited.
The decree will also show the procedures that involved parties need to follow to conduct domain name transfer deals.
TranMinh Tan, Deputy Director of VNNIC, said the ministry is also compilinga circular guiding the management and use of internet resources.
Tan,analyzing the domain name market’s history, noted that the number ofregistered 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.-VNA
Domainnames are traded in Vietnam, even though there is no legal framework forthe business. The involved parties go ahead with sales because they saythey cannot wait for the legal framework to be completed for transferdeals.
The Ministry of Information and Communication in 2008released a circular on the management and use of internet resources,which lifted the ban on domain name trade and transfer. However, thecircular was not enough to pave the way for this kind of business.
Thereare hundreds of domain name investors, individual and institutionalinvestors, mostly in Hanoi and Ho Chi Minh City. Hanoi-based Micronet isone of these investors. It now owns 3,000 domain names and hopes tohave an investment portfolio of 20,000 domain names by 2017.
TheVietnamese market is believed to have great potential for investors.Under current regulations, domain names cost tens or hundreds ofthousand dong to register, and the same sums of money are needed toretain 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 2.3 billion VND in 2012 to buy www.bkav.com from an UScompany which registered the domain name before.
According to theVietnam Internet Network Information Centre (VNNIC), only 20 percent ofVietnamese businesses have registered domain names.
Nguyen MinhHong, Director of the Quang Ninh province’s Information Department,said at a recent workshop on domain names that 1,400 “.vn” domain namesand more than 2,000 international domain names had been registered inthe province.
The province had 11,800 businesses by the end of 2013.
“Thefigures showed that the number of Quang Ninh’s businesses with domainnames remains modest. Meanwhile, in the digital era, e-commerce andinternet-based ad activities have been developing so strongly,” Hongsaid.
The Ministry of Information and Communication said it wasdrafting a decree on auctioning and transferring usage rights of digitaltelecommunication repository and internet domain names.
An official of the ministry said the decree will clarify which kinds of domain names can be transferred.
Thedomain names with suffix “.vn” will be transferable, while transfer ofdomain names related to state agencies and socio-political organisationswill be prohibited.
The decree will also show the procedures that involved parties need to follow to conduct domain name transfer deals.
TranMinh Tan, Deputy Director of VNNIC, said the ministry is also compilinga circular guiding the management and use of internet resources.
Tan,analyzing the domain name market’s history, noted that the number ofregistered 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.-VNA
