Applications of Experimental Policy Theory (Policy Sandbox) in Vietnam Digital Economy: The Case of Ho Chi Minh City

Ngoc Hien Bui () and Kim Ngan Thi Ngo ()
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Ngoc Hien Bui: Ho Chi Minh City Cadres Academy
Kim Ngan Thi Ngo: Ho Chi Minh City Cadres Academy

A chapter in Contemporary Economic Issues in Asian Countries: Proceeding of CEIAC 2022, Volume 2, 2023, pp 313-331 from Springer

Abstract: Abstract The 4.0 technology revolution is contributing to the creation of many new products, services, and economic models in an open space that blurs borders and distances between countries that requires countries to have more flexible mechanisms and open policies; sandbox is a typical example. There have been many countries that have successfully implemented the sandbox testing policy, such as the USA, Japan, Korea, UK, China, India, and some ASEAN countries. It shows that the promulgation of the testing mechanism in the world is at the “saturated and ripe” stage, but the promulgation of the testing mechanism in Vietnam at the present time is necessary and appropriate. However, it is difficult to deploy on a large scale, it is necessary to choose a suitable place to test, after success, proceed to replicate the model. Considered as the economic locomotive of the country, Ho Chi Minh City (TPHCM) fully converges and is considered the most potential place to apply the sandbox-type experiment policy to create economic incentive’s development number. Taking advantage of the available advantages, Ho Chi Minh City can fully learn and draw from previous countries to effectively apply the pilot policy in developing the digital economy. This paper has summarized some theoretical bases on sandbox testing mechanism and digital economy. In this paper, the author has analyzed and assessed the current situation of digital economy development; conditions for applying sandbox model in digital economy development in Ho Chi Minh City. Through this paper, the author want to propose solutions to effectively apply the sandbox policy to develop the digital economy in Ho Chi Minh City.

Keywords: Policy sandbox; Digital economy; Creative innovation; Vietnam (search for similar items in EconPapers)
Date: 2023
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DOI: 10.1007/978-981-99-0490-7_19

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