"Vietnam is poised to pass a new decree that will bring the nation into line with its peers across APAC and internationally when it comes to personal data protection – and it’s providing a new impetus for businesses to look again at enhancing their data management."
“We want to make data a better place”, says Philip Miller, Co-CEO at Solidatus. Joining EM360 to discuss some of the data challenges organisations are facing, Philip explains that it is the complexity surrounding data, and not the data itself, that is costing organisations huge amounts of time, money, and sometimes their reputation.
"Without good data management practices and an accurate understanding of the data that sits within your organisation – you are essentially running that business on potentially shaky ground."
"The only way that complex multi-nationals can ensure their compliance is by keeping up with these continual updates to data privacy rules. In order to prepare for any legislative checks on their compliance, firms need to ensure a flexible and innovative approach to operational data management which can be called on to give a comprehensive picture at any time."
Vietnam’s upcoming implementation of a Personal Data Protection Act (PDPA) aligns it regionally and globally with the accelerating trend of data privacy legislation. A consistent theme is that it, along with other regional legislation, broadly aligns with standards in other global legislation – in this case, the EU’s GDPR.