A draft decree on a regulatory sandbox for circular economy development is being formulated to encourage businesses and investors to materialize initiatives and projects in this field. Should the number of businesses allowed to participate in this mechanism be restricted? Or should the doors be fully open for broader experimentation? Many incentives for four experimental sectors In line with the Prime Minister’s directive, the Ministry of Planning and Investment (now the Ministry of Finance) is drafting a decree on a regulatory sandbox for circular economy development. According to representatives of the drafting agency, this mechanism aims to encourage and promote the application of science and technology in line with green and sustainable development trends. The draft decree allows participating organizations to trial circular economy models and solutions in four sectors—agriculture, forestry, and fisheries; industry; renewable energy; and building materials—while being subject to oversight by relevant authorities to mitigate risks. The maximum experimental period is five years, with a possible one-time extension for up to another five years. The draft also proposes various incentives for projects under the sandbox mechanism. For instance, they may receive up to 50% support for technology consulting fees, up to 50% for digital transformation solutions, up […]
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