The Vietnam Chamber of Commerce and Industry (VCCI) has met with the Finance Ministry's Department of Finance and Banking to discuss a draft decree concerning debt collection businesses. 

Director of VCCI's Legal Department Tran Huu Huynh said some 70 enterprises nationwide are engaged in debt collection. In addition, a number of law firms provide consulting services on this issue.

He added that debt collection has become a 'commodity' in today's society and a real demand exists for this kind of service, especially for companies in the telecom, electricity and water supply sectors with large networks of customers.

According to the draft decree, debt collection businesses are required to possess a minimum of VND5 billion (roughly US$310,000) in registered capital and hold no outstanding debts themselves.

However, the decree does not apply to disputed debts or those settled by the judicial system but rather those arising from legally recorded civil transactions. Businesses in this sector are also prohibited from cheating clients or using violence to collect overdue debts under the decree.