Managing director of the Asia Internet Coalition Jeff Paine The draft decree aims to resolve inadequacies in management and also assure the rights and benefits of related businesses, aiding them in getting involved in the online service market. Can the draft decree fulfill its targets? The main concern with the draft decree is the impact that it will have on post-pandemic economic recovery efforts by the Vietnamese government. The pandemic has created a range of new issues for the digital industry which is directing all its efforts to provide effective communication, entertainment, logistics, telemedicine, and tele-education services. At the same time, online service providers are building solutions in these areas to ensure there is no compromise to users' security and privacy. The extreme nature of the requirements in the draft decree will certainly force some service providers to limit offerings to Vietnam, depriving consumers and businesses of critical options and dampening competition and innovation. Vietnam has a booming internet economy. According to a 2019 research report by Google, Temasek, and Bain & Company, Vietnam's digital economy reached $12 billion in 2019 on a 38 per cent annualised growth rate since 2015. With the gross merchandise value of its internet economy… Read full this story
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