Project on promoting sharing economy approved

The goal of the project is to ensure an equal business environment among enterprises according to the sharing economic model and traditional economic model while ensuring the legitimate rights, responsibilities and benefits of parties participating in the sharing economic model, including service providers, service users and platform providers.

At the same time, the project encourages innovation, the application of digital technology and the development of the digital economy.

The decision stated that 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 Finance is assigned to apply new technologies of the Industry 4.0 to tax policy implementation and management.

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

The project also asked the Ministry of Industry and Trade to study and develop policies to promote sharing economic models to boost sustainable production and consumption.

The decision took effect from August 12, 2019.