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Summary

26 BUSINESS 42 PROPERTY
RETURNING BUSINESSES LAND PRICES IN SOME AREAS

A “BRIGHT SPOT” SHOOTING UPWARDS

Compared to the beginning of the year,
After more than a month of reopening the economy, many businesses in landed housing prices in many suburbs of
Vietnam have been revived and the entrepreneurial spirit of its people Hanoi have at least doubled. Supply also re-
remains. In November, 4,958 enterprises returned to operations - the mains quite limited. This creates the condi-
highest since April - according to the Business Registration Administra- tions for real estate brokers to retain assets
tion Department at the Ministry of Planning and Investment (MPI). and push prices higher. To limit any sudden
Though down 6.7 per cent over the same period of 2020, returning busi- short-term increase in prices and to create
nesses rose 28.3 per cent, 49.5 per cent, and 15.2 per cent, respectively, in the conditions needed for the real estate mar-
the month compared to August, September, and October. ket to develop stably and sustainably, ana-
lysts have said it is important to quickly
address legal issues relating to real estate.
The State and enterprises must also have ef-
fective policies and plans to promote produc-
tion and economic development and create
other investment channels outside of land.

28 BUSINESS

NON-PUBLIC EDUCATION SYSTEM

IN NEED OF LIFEBUOY

Over the past two years, under pressure from Covid-19, Vietnam’s
non-public education system has been on the verge of widespread col-
lapse. Such institutions struggled to find a “lifebuoy” as the pandemic 46 DIGITAL BIZ
raged. Digital transformation and the transformation of the educa-
tional model towards a combination of teaching and individualized MOBILE MONEY OFFICIALLY JOINS
study are trends these institutions must address. In the short term, CASHLESS PAYMENT ECOSYSTEM
urgent solutions are needed to prevent the closure of many schools in
residential areas.

44 DIGITAL BIZ

SPEEDING UP THE JOURNEY TOWARDS
NATIONAL DIGITAL TRANSFORMATION

The journey towards national digital transformation to build a new dig-
ital economy and digital society is still in its early stages. The current In the last days of November and early December,
context requires greater effort to speed up the process, further improve two of the three telecommunications businesses li-
the efficiency of digital transformation, and soon turn Vietnam into a censed to pilot Mobile Money - VNPT (VinaPhone)
digital country with a digital economy that will contribute about 30 per and Viettel - officially offered the service to customers.
cent of GDP by 2030. The National Committee on Digital Transforma- The third, MobiFone, is expected to do likewise
tion was established recently, with the Prime Minister as Chairman, to shortly. Unlike simple mobile telecommunications
make Vietnam one of the pioneers in this regard. Its creation expresses services, Mobile Money is bound by strict regulations
the strong determination of the government and the Prime Minister in and the recommendation is that providers introduce
promoting digital transformation from the central to local levels. the service carefully.

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