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% CONTENTS | ISSUE 321, August 2021 Congratulations on Hungary National Day

COVER STORY: (6-19)

Agriculture has been a key economic sec-
tor and employer throughout Vietnam’s
history, but as the world has modernized
and urbanization and industrialization
have become dominant themes, the sector
has somewhat declined in standing. It has
also constantly struggled to appeal to for-
eign investors, but in recent times there
have been an array of measures intro-
duced to raise its proportion within FDI
coming to Vietnam. Making this happen
and bringing the sector into the 21st cen-
tury will require the continued effort of
all stakeholders.

BANKING & FINANCE
Editor’s letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2
Faith unshaken Foreign life insurers remain upbeat . . . . . . . . . . . . . . . . . . . . . .34
AT A GLANCE
sTArTUPs
Leading news from the month at a glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .3
The latest from the world of startups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
rEPorT
BrANDING
Cause for concern EuroCham confidence index falling . . . . . . . . . . . . . . . . . . . . .5
Shopping selections Kantar reveals most popular brands . . . . . . . . . . . .38
BUsINEss rEPorTs
Surviving the side-effects; Evolving energy; In good shape; Foreign ProPErTy
frontiers; Out into the world . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .20 Optimistic outlook Office segment remains healthy . . . . . . . . . . . . . . . . . . . . . . .40
More is better Partnerships growing in real estate . . . . . . . . . . . . . . . . . . . . . . . . . . .42
DIGITAL BIZ
Changing face of shopping Social commerce taking hold . . . . . . . . . . . . .30 CorPorATE NEWs
What’s happening in the world of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .44
ANALysIs
Collateral damage Latest Covid-19 outbreak hits consumer confi-
dence . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .32
Navigating the storm Mr. Ngo Dang Khoa, Head of Markets at
HSBC Vietnam . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .33
StatisticsUpdated economic figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46

P I C T U R E S B Y T R A N V I E T T U A N , D E S I G N B Y D Z U N G N G U Y E N

V I E T N A M E C O N O M I C T I M E S

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ENGLISH LANGUAGE EDITORJohn Harding
We would like to sincerely thank the Ministry of Foreign Affairs and all overseas embassies and representative offices of Vietnam for their support and cooperation in the worldwide circulation of our magazine.
ISSN 0868 - 3700 - LICENCE No. 272/GP-BTTTT ON JUNE 26, 2020, PUBLISHED MONTHLY BY THE VIETNAM ECONOMIC ASSOCIATION, PRODUCED IN VIETNAM AND PRINTED AT TIEN PHONG PRINTING AND COMMERCE JOINT STOCK COMPANY.© ALL RIGHTS RESERVED

AUGUST 2021 | VIETNAM ECONOMIC TIMES | 1