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Govt seeks to promote sharing economy
By Van Ly
Saturday,  Jul 14, 2018,13:39 (GMT+7)

Govt seeks to promote sharing economy

By Van Ly

Grab is a typical example of the sharing economy model - PHOTO: TL

HANOI – The Government will seek to promote the development of a sharing economy, in which assets or services are shared by means of the Internet, said Vu Dai Thang, Deputy Minister of Planning and Investment. Uber and Grab ride-hailing services, along with short-term letting firm Airbnb, are examples of the sharing economy.

At a July 12 seminar entitled, “Sharing economy: major trends and impacts on Vietnam’s economy”, Thang said the sharing economic model, which has been developed by domestic and foreign startups in the era of digital technology, has benefited enterprises, though it has caused difficulties for State agencies to manage this model.

Therefore, the Government has assigned the Ministry of Planning and Investment to map out a plan to manage the sharing economy, hereby reducing its negative impacts. The ministry will try to complete the plan as soon as possible, Thang noted. 

Also at the seminar, Pham Dai Duong, Deputy Minister of Science and Technology, said the model has significantly affected the development of Vietnam’s economy. Therefore, the Government should issue appropriate policies.

The model is also being embraced throughout the country, with the participation of both local and international enterprises, and has attracted the public’s interest.

Talking about opportunities and challenges presented by the sharing economy in Vietnam, Nguyen Thi Tue Anh, deputy director of the Central Institute for Economic Management, said it is an inevitable part of the digital economy and has helped restructure many sectors. However, it has posed challenges for State management agencies.

Anh proposed taking full advantage of the sharing economy model and continuing to improve the business environment to encourage the startup movement.

In addition, the Government should speed up the building of the e-Government and an open data system, enhance the assessment of the model’s impacts on investments, jobs, tax policies and competitiveness, and forecast the development of sectors in which the model can be applied, to adjust policies and regulations, if need be, Anh added.

Stefan Hajkowicz of the Australian Council for Scientific and Industrial Research said Vietnam should invest heavily in research and development and the broadband Internet to spur the development of the sharing economy.

Vietnam’s information technology, communications and digital economy have developed strongly, but the country needs to further improve the training of the nation’s workforce and create favorable conditions for startups, said Lucy Cameron, an expert from the Australian Council for Scientific and Industrial Research.

Sarah Pearson, from the Australian Department of Foreign Affairs and Trade, told the seminar that the sharing economy grows annually by 30% throughout the world, and that besides encouraging training and the startup movement, the Vietnamese Government should help innovative startups market their products.

 

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