Sandbox - a path to Industry 4.0

15:23 | 07/11/2019
Finding a sandbox mechanism that is appropriate for the socio-economic and science-technology development of the country is necessary to develop the sharing economy and catch up with Industry 4.0.
sandbox a path to industry 40
Editor-in-chief Le Trong Minh addressing the workshop on a regulatory sandbox for Industry 4.0

At the Workshop on “Deploying sandbox to strengthen the foundations of the sharing economy” at the headquarters of VIR today, editor-in-chief Le Trong Minh said that this is only the beginning of a series of topics and workshops related to the sandbox and Industry 4.0.

“The comments and recommendations of policymakers, experts, and businesses are useful to form a sandbox mechanism to promote socio-economic development and science-technology in the country. We sincerely hope that the workshop will contribute to clarifying issues related to a legislative sandbox," said Minh.

He added that Industry 4.0, which has opened up a lot of opportunities and challenges for every country, business, and individual, has been affecting every sector to a great degree.

sandbox a path to industry 40
The workshop brought together leading experts from the authorities and the private sector

However, if the country seizes the opportunity to grow, Vietnam will come closer to the goal of becoming a puissant nation in the world.

In order to increase awareness and encourage action, the Politburo issued Resolution No.52-NQ/TW on September 27, providing guidelines and policies for active participation in the 4.0 era.

Reforms in economic management, building and perfecting mechanisms, especially for new business models such as the sharing economy and fintech requires drastic solutions from creating a framework of policies to the reinventing the approach of state management agencies to their core tasks. In particular, being open to new, previously unheard things is the most important.

This is not only a need in Vietnam: looking at international experience, the "regulatory sandbox" has been used by more than 30 countries. In fact, sandbox has been shown to provide fertile soil for new ideas and new technologies to develop – an environment startups need.

By Thu Huong

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