Over 500 small local social networking sites may have to apply for a permit to continue earning money from their services Social networking sites with more than one million users or 10,000 interactions a month will have to get licensed through the Ministry of Information and Communications (MIC) to operate in the country, according to Article 23 of the draft amendment to Decree No.72/2013/ND-CP outlining the management, provision, and use of internet services and online information. Moreover, only licensed platforms will be allowed to charge subscription and usage fees, not even for live-streaming. At the end of December 2019, Vietnam had 614 social networking sites, less than 10 per cent of which had more than one million users. Thus, the remaining 90 per cent (more than 500 platforms) do not satisfy the requirements to charge users. The draft also mentioned that sites with less than one million users or 10,000 interactions a month would have to file a document to the appropriate authorities to get permission to maintain operations. Discussing with VIR, Trinh Minh Giang, CEO of Venture Management Consulting Group specialised in tech startups, said that small-scale platforms will find it more difficult to earn revenue than their larger counterparts. Accordingly, setting up a… Read full this story
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