Project on promoting sharing economy approved

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The goal of the project is to ensure an equal business environment among businesses operating in both sharing and traditional economic models; legitimate rights, responsibilities and benefits of those participating in the model of sharing economy, including service providers, users and platform providers.

In addition, the scheme will  encourage innovation, digital technology application and the development of the digital economy.

Businesses will be supported to adapt to the new development trend of the sharing economic model amid the rapid development of digital technology. 

Under a decision issued by the PM, the Ministry of Finance is assigned to apply new technologies of the Industry 4.0 to tax policy implementation and management.

The Ministry of Planning and Investment will take charge in coordinating and working with ministries and sectors in amending and completing the current legal and policy system to meet the requirements on the management of the activities of the sharing economy.

Meanwhile, the Ministry of Transport will have to review and abolish unsuitable regulations on business conditions regarding traditional transport business.

According to the project, the Ministry of Industry and Trade will  study and develop policies to promote sharing economic models to boost sustainable production and consumption.

The decision took effect from August 12, 2019./.