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Summary

30 BANKING - FINANCE 42 PROPERTY
INFLATION WELL WITHIN CONTROL CONSTRUCTION AND REAL

The Russia-Ukraine conflict has been behind the rising inflation in ESTATE SUFFOCATED BY
many countries in the first quarter of 2022, rather than demand-pull
or cost-push factors. However, looking at goods representing a large PANDEMIC AND RISING PRICES
proportion of the CPI, which are food, housing, and travel expenses,
controlling inflation is completely within reach. It is essential that the According to many analysts, the construction
government and State management agencies send clear and consistent and real estate industry must deal with dual
messages about stabilizing prices and controlling inflation. It is also difficulties this year - the effects of Covid-19 and
necessary to understand how inflation is calculated and the current fighting rising material prices. Real estate prices
economic context and economic goals in the medium and long terms. are expected to go much higher as a result. State
agencies must come up with solutions to remove
32 STOCKS the difficulties. Many analysts have
recommended that to create a competitive
FRAUD, THEFT INCREASINGLY FOUND IN advantage, businesses need to identify solutions
to stimulate real estate demand in the context
SECURITIES ACCOUNTS of customer spending being heavily affected by

Bad actors seek to access the information technology systems of the pandemic and inflation.
securities companies through security holes, according to the State
Securities Commission of Vietnam (SSC). As the number of investors
and transactions increase, there will certainly be many bad actors
looking to take advantage. This is a similar situation to online
transactions and e-banking in recent times. Therefore, investors need
to improve their knowledge to protect themselves, ensuring at least two-
factor authentication when transacting (smart OTPs, tokens, or SMS
to confirm orders). Most importantly, it is necessary to limit the
provision of information to third parties.

36 INVESTMENT
PRESSURE GROWING TO DISBURSE VND50 TRILLION

($2.2 BILLION) IN PUBLIC INVESTMENT

In order to soon disburse public investment capital totaling more than
VND50 trillion ($2.2 billion), in the opening months of this year, the 44
Ministry of Transport (MoT) quickly removed obstacles relating to DIGITAL BIZ
site clearance and the lack of material supplies in many bidding MVNO MARKET SLOW TO TAKE OFF
packages. MoT will complete 26 key transport projects this year,
including projects with inter-regional connectivity, not only forming
a modern transport network but also contributing to increasing Vietnam’s mobile virtual network operator (MVNO)
economic development in many localities and regions. It is estimated market involves the presence of three providers and
that by the end of March, however, the MoT has disbursed only it is possible that one new player will join the market
VND5.8 trillion ($257 million), or 11.5 per cent of the plan. soon. With new subscribers accounting for only 2 per
cent of market share in mobile telecommunications
services, MVNO is considered undeveloped and the
space is still quite large. However, in the context that
the traditional telecommunications market (calling
and texting) has become saturated, if there is no new
direction taken it will be difficult to develop further.
If conditions are created for the MVNO market to
develop optimally in Vietnam, it could account for
10-20 per cent of the telecommunications market
share, or 15-20 million subscribers. The MVNO
model is currently quite diverse, focusing mainly on
niche markets such as business networks, IoT
services, and entertainment.

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