•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
•
State Bank of Vietnam (SBV) is seeking public input on a draft decree that would amend and supplement several provisions of Decree 58/2021/NĐ-CP dated 10 June 2021, which governs the operation of credit information services.
The draft focuses on tightening operating principles for credit information companies to better align with the current legal framework. It reiterates the principles of truthfulness and objectivity and adds safeguards to protect the legitimate rights and interests of organizations and individuals involved in the collection, processing, and provision of credit information.
A notable addition is a requirement that credit information services comply with personal data protection regulations, in line with the Personal Data Protection Law effective from 1 January 2026.
On eligibility to operate, the draft aims to simplify requirements to facilitate market participation. It consolidates the security plan and disaster-recovery plan into a single requirement, reducing procedures while maintaining system safety standards.
The draft retains a continuity requirement that credit information services should not be interrupted for more than four working hours.
It also repeals certain business conditions that are no longer considered appropriate and adjusts provisions on credit information sharing agreements between credit information companies and participating organizations. Instead of setting out detailed rules within the decree, the draft shifts to a framework that cross-references an annex to improve flexibility and ease updates.
The draft adds a provision allowing online submission through the National Public Service Portal, in addition to direct submission or submission by post. The stated purpose is to promote digitization of administrative procedures and reduce time and costs for businesses.
For non-authenticated copies, the draft allows presenting the original document in various forms with equivalent legal value. For online submissions, verification would be carried out under electronic-government procedures.
The draft proposes reducing the processing time for procedures related to operating-condition certificates:
The draft reduces documentation requirements to ease burdens on enterprises. It eliminates the requirement to submit a criminal record clearance for individuals managing the business or serving on the supervisory board, citing that such information can be accessed from national databases under existing law.
To strengthen internal governance, the draft raises standards for credit information service providers as data becomes more central to operations. Firms would be required to develop and publish internal regulations on personal data protection, including:
Overall, the revision aims to facilitate market entry and operations while raising standards for transparency, safety, and accountability in credit information services. The draft’s proposed procedural cuts, shorter processing timelines, and strengthened data-management requirements are intended to improve service quality, bolster trust among market participants, and support the digital transformation of the financial-banking sector.
Premium gym chains are entering a “golden era” that is ending or already in decline, as rising operating costs collide with shifting consumer preferences toward more flexible, community-based ways to exercise. Long-term memberships are shrinking, margins are pressured by higher rents and facility expenses, and competition from smaller, more personalized…
