Thailand, Vietnam and Singapore offer attractive growth opportunities for digital platforms, AI applications and data-driven business models. However, companies seeking to enter these markets need to consider regulatory requirements from the outset. Unlike the EU, these three countries have not adopted a unified regulatory framework comparable to the Digital Markets Act (DMA). Instead, different rules on competition, data protection, consumer protection and sector-specific regulation interact.
What does this mean for businesses?
- Thailand: New guidelines for digital platforms, foreign ownership restrictions and specific market entry requirements.
- Vietnam: Stricter data protection rules, new e-commerce regulations and extensive compliance obligations.
- Singapore: Increasing requirements for AI governance, cybersecurity and the regulation of digital payment services.
The key takeaway: Market entry strategies, platform architecture, data flows and legal compliance must be considered together from the very beginning.
Dr. Tino Haupt and Leif Schneider, both lawyers at Luther Vietnam, have co-authored a new publication on digital business models in Vietnam, Thailand and Singapore. Together with colleagues from Luther in Germany, Singapore and Thailand, they compare the regulatory frameworks in the three markets with the familiar rules in Germany and the EU. Leif and Tino wrote the section on Vietnam.
The publication shows that none of the three countries has adopted a unified framework for digital platforms comparable to the EU Digital Markets Act. Instead, rules on competition, data protection, consumer protection and sector-specific regulation apply side by side. In Vietnam, companies must in particular consider the stricter data protection rules and new e-commerce regulations. For European companies, this means that the business model, the corporate structure, data flows and product design should be aligned with local requirements from the very beginning of the market entry.
The full article is available in English and German here: Digital Business Models in Thailand, Vietnam and Singapore: Regulation as Part of a Market Entry Strategy | Luther Lawfirm
For questions on digital business models and market entry in Vietnam, please contact Leif D. Schneider and Dr. Tino Haupt at Luther Vietnam.