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Summary

36 INVESTMENT - INFRASTRUCTURE 46 BUSINESS
CONSTRUCTION OF LIEN CHIEU PORT GOING AHEAD FEW LOCAL ENTERPRISES

Recognizing the importance of a seaport network in the socio- WORKING WITH MULTINA-
economic development of the central region and central highlands,
the plan to build Lien Chieu Port in Da Nang was approved by the TIONAL COMPANIES
city and related ministries in 2010 and is to compete with major port
clusters elsewhere in the country. According to the Prime Minister’s
decision to begin construction, the shared infrastructure component While the localization rate in Vietnam’s
of Lien Chieu Port will be invested in under the Law on Public motorcycle industry is the highest in the
Investment, with central and city capital. Public investment capital country, rates in electronics and automobiles
is estimated at VND3.426 trillion ($152 million) and construction is remain lamentably low. Links between
expected to be completed in 2025. Vietnamese enterprises and multinational
companies are viewed as the best way for local
enterprises to participate in global supply
38 INVESTMENT - INFRASTRUCTURE chains. Although many activities are in place,
PRIVATE SECTOR FUNDING AND PUBLIC such links are few. The difficulty for local
businesses is the requirements set by
INVESTMENT TO “REVIVE” INLAND WATERWAYS multinational corporations regarding quality,
price, and delivery time. In order to link
To effectively implement “Planning of Inland Waterway Infrastructure successfully, capacity must meet demand and
in the 2021-2030 Period and Vision to 2050”, under Decision No. greater support must come from intermediaries
1829/QD-TTg, the Vietnam Inland Waterways Administration has such as the government, industry associations,
developed a range of policies, solutions, and resources for submission support organizations, and consultants.
to the Prime Minister for approval. Over the next decade, medium-term
public investment capital of up to VND25 trillion ($1.1 billion) will be
spent on upgrading infrastructure and utilizing the potential of the
inland waterway network. At the same time, 39 clusters of passenger
ports and 54 clusters of cargo ports are calling for private investment.

44 DIGITAL BIZ
DIGITAL ECONOMY AND DIGITAL TRANSFORMATION
THE DRIVING FORCE FOR 5G DEVELOPMENT

5G is not only a technology offering super-high-speed data transmission
but is also key in accelerating the digital transformation process in many 48 TRADE - MARKETS
industries and fields. The digital economy and digital transformation
are considered the driving force in developing 5G. Deputy Minister of MANY MORE OPPORTUNITIES FOR
Information and Communications Pham Duc Long said businesses in
the information and communications sector must focus on developing VIETNAM’S COFFEE EXPORTS
digital infrastructure, which is the foundation of the digital economy,
digital government, and digital society. As of the end of 2021, the 5G According to forecasts, Vietnam’s coffee industry will
network had been commercially tested by three operators - Viettel, have many opportunities to increase exports this
VNPT, and MobiFone - in 16 cities and provinces. year. The trade embargo imposed by the US and the
EU on Russia due to the conflict between Russia and
Ukraine presents a major opportunity for Vietnam
to boost coffee exports to the EU and the US. Coffee
is one of Vietnam’s key agricultural exports and
shipped primarily to the EU, the US, and Southeast
Asia. The EU is the largest market and accounts for
more than 16 per cent of exports. According to the
US Department of Agriculture (USDA), Vietnam
still has plenty of room to increase coffee exports to
the world’s top 5 markets of the US, Germany,
France, Canada, and Italy. The recovery of major
economies around the world is also helping boost
coffee consumption.

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