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Summary

26 STOCKS 46 BUSINESS
DESPITE RISKS, CORPORATE BONDS MoH PLANS TO ALLOW F1

STILL BOOM CASES TO WORK

In preparing for a move to consider Covid-19 an
endemic disease, the Ministry of Health (MoH)
has proposed that F0 and F1 cases be allowed to
go to work. In particular, allowing F1 cases to
work in person or online has received consensus
among the professional community and the
business community. For manufacturing
businesses, this could partly ease pressure on
personnel, but there are other points to note.
Although the proposal is appropriate in the
current context, medical experts have also
The total value of bond issuances to the public so far this year and recommended that the employer decides
the total value of private bond issuances have increased 31 per cent whether F1 cases can return to work and that
and 51 per cent, respectively, against the same period last year, flexible measures be adopted.
according to the Vietnam Bond Market Association (VBMA). The
development of the corporate bond market has taken place in the
context of the State Bank of Vietnam (SBV) introducing Circular No.
16 on commercial banks investing in corporate bonds, which took
effect on January 15. One economist believes corporate bonds are a
channel for banks to “avoid” lending to businesses in the real estate
sector, meeting requirements to not focus on lending to risky areas
and not having to make provisions for risks, while “beautifying”
balance sheets with high profit margins.

31 FINANCE
DELAYS CONTINUE IN TAXING REAL ESTATE 48 DIGITAL BIZ

According to a report from the Vietnam Association of Real Estate
Brokers (VARS), real estate prices have been increasing continually ACCELERATING DIGITAL
since 2014, at an average of over 10 per cent per year, with some rising
by over 20 per cent. Authorities are imposing taxes in a unique way, TRANSFORMATION: MEASURES
multiplying revenue by a fairly generic tax percentage. Taxpayers are NEEDED FOR BREAKTHROUGHS
taking advantage of this to reduce the real estate transfer price and
avoid tax. According to experts, in order to stop speculation and price In the context of Vietnam accelerating digital
rises disturbing the real estate market, directing capital flows into transformation, a necessary part of developing
production and business activities and meeting actual demand for digital government, the digital economy, and digital
housing will require that the State reform real estate taxes. society is digital infrastructure. Analysts have said
that existing telecommunications infrastructure
36 TRADE - MARKET meets connection requirements and there are plans
to develop 5G and move towards 6G. In order to
AGRI-EXPORTS: conduct digital conversion, it is therefore necessary
AVOID CONGESTION THEN OPEN UP to have a digital institution and new measures for
digital breakthroughs.

An online seminar entitled “Congestion of agricultural products at the
border: What are the fundamental solutions?” heard from experts
saying that resolving problems surrounding inputs and outputs for
agricultural products will have a practical effect on the economy. These
problems, according to Minister of Agriculture and Rural Development
Le Minh Hoan, are due to thinking about agricultural production that
only focuses on generating output and not on thinking about the
economics. The fundamental solution is mastering the market and
developing a separate project for exports to the Chinese market.

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