Only 20% of Vietnamese businesses have registered domain names.
There is an article out on how domain names are traded in Vietnam without any actual legal guidelines for the domain trading business.
Domain names are traded in Vietnam, even though there is no legal framework for the business. The involved parties go ahead with sales because they say they cannot wait for the legal framework to be completed for transfer deals.
The Ministry of Information and Communication in 2008 released a circular on the management and use of internet resources, which lifted the ban on domain name trade and transfer. However, the circular was not enough to pave the way for this kind of business.
There are hundreds of domain name investors, individual and institutional, mostly in Hanoi and HCM City. Hanoi-based Micronet is one of the investors. It now owns 3,000 domain names and hopes to have an investment portfolio of 20,000 domain names by 2017.
The Vietnamese market is believed to have great potential for investors. Under current regulations, domain names cost tens or hundreds of thousand dong to register, and the same sums of money are needed to retain 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 VND2.3 billion in 2012 to buy www.bkav.com from an US company which registered the domain name before.
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