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Making the most of the sharing economy

Released at: 20:14, 12/07/2018

Making the most of the sharing economy

Photo: Minh Do

Hanoi conference hears of role of government and enterprises as the sharing economy takes hold.

by Minh Do

Innovation creativeness needs to come from enterprises, not only from the government, as enterprises have the energy to implement creativeness in the context of the sharing economy, Ms. Sarah Pearson, Chief Innovation Officer at the Australian Department of Foreign Affairs and Trade, told a conference in Hanoi on July 12.

The conference was themed “Sharing Economy: Megatrends and Impacts on Vietnam’s Economy” and was held by the Ministry of Planning and Investment (MPI), the Ministry of Science and Technology, and the Australian Embassy in Vietnam.

Deputy Minister of Planning and Investment Vu Dai Thang said Vietnam has the conditions necessary to develop the sharing economy, which include the rapid development of information and technology and an open business environment.

The government has also agreed to build a master plan for the sharing economy and has assigned MPI to collect opinions from government members and work with relevant ministries and agencies in building the plan.

Dr. Nguyen Thi Tue Anh, Deputy Director of the Central Institute for Economic Management (CIEM), told the conference that opportunities for Vietnam lie in creating a new business method and opening up new business opportunities based on digital platforms and Industry 4.0. The market will be more competitive with more services and benefits for consumers and this will also will open up investment opportunities and create new jobs, with savings in natural resources and better environmental protection.

In the panel discussion, Ms. Pearson spoke of her experience in the sharing economy in Australia, where the government has an innovation strategy to develop innovation and creativeness, in particular encouraging the establishment of startups. “We are moving towards data sharing and the government holds substantial data that it can share with companies,” she said.

Dr. Stefan Hajkowicz, Data61 Strategic Foresight Team Leader at Australia’s Commonwealth Scientific and Industrial Research Organization (CSIRO), said that the role of the government is important for developing the sharing economy. It should encourage improvements in skills, attitudes, opinions, and mindset when approaching the digital economy. Capacity building is also needed in research and development to help the economy lead the digital economy.

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