U.S. business groups warned on Friday a new regulation in Vietnam that will make technology firms store data locally and set up a local office was creating uncertainty and could have a "considerable impact" on investment.
In a joint letter to Prime Minister Pham Minh Chinh, the U.S. Chamber of Commerce, the American Chamber of Commerce Hanoi and the Asia Internet Coalition, said the new regulation would make it impossible for companies to accurately assess the cost of doing business in Vietnam.
"The wording of certain articles/clauses...is ambiguous and creates uncertainty as to what compliance actions are necessary," according to the letter.
