VietnamExpress-Dec 11

Vietnamese authorities are worried about the trend of the nation’s sharing economy being dominated by foreign players with deep pockets and advanced technology. Foreign firms have been buying controlling shares of companies in Vietnam’s sharing economy, with several willing to take on short-term losses to acquire greater market shares in the future, according to a recent report by the Ministry of Planning and Investment. The ride-hailing market, for instance, is led by Singapore’s Grab with 200,000 driver partners and Indonesia’s Gojek with 150,000, with some domestic players like MyGo and Aber having disappeared from the market. In the accommodation sector, the U.S.’s Airbnb had 18,200 hosts as of last year, and in the peer-to-peer lending market, most of the 100 active companies are from China, Russia, Singapore and Indonesia.

Read more at: https://e.vnexpress.net/news/business/industries/authorities-fret-over-foreign-firms-dominating-sharing-economy-4204607.html