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Summary

14 OP EDS
BUSINESS SURVEY 2022 TO LOOK

AT DIGITAL ECONOMY INDICATORS

Ms. Vu Thi Thu Thuy, Director of the Data Collection and
Information Technology Application Department at the
General Statistics Office of Vietnam (GSO), told a that
indicators relating to the national account, digital economy,
e-commerce, and digital product production will be added
to the business survey being conducted by the GSO from
April 15 to May 30. This information will supplement
missing data for compiling national statistical indicators.
The survey is set to be conducted in Vietnam’s 63 cities and
provinces on businesses in all economic sectors.

27 BANKING & FINANCE

18 COVER STORIES CONTROLLING BAD DEBTS AND

HCMC’S DIGITAL ECONOMY DEVELOPMENT: CORPORATE BONDS: MORE NEEDED
MANY OPPORTUNITIES, THAN EXTENDING RESOLUTION 42

MANY CHALLENGES The Standing Committee of the National Assembly has
only extended the validity of Resolution No. 42 on piloting
bad debt settlement at credit institutions to the end of
At the Ho Chi Minh City Economic Forum 2022 (HEF), with the
theme “Driving Force for the Future Growth of Ho Chi Minh City”, 2023 because there is no precedent for amending and
Chairman of the Ho Chi Minh City People’s Committee raised four supplementing the pilot Resolution. Some 60 per cent of
issues of note. In particular, the city has many opportunities to develop outstanding corporate bonds will mature in the 2023-
its digital economy in terms of growth and policies. However, there 2024 period, while the production and business activities
are also many challenges, such as human resources. Based on the of enterprises have been seriously affected over the past
general policy from the government, the city has been focusing on two years by the pandemic. This had led to concerns about
implementing its Digital Transformation Program to 2025 and issues relating to bad debts, especially in the context of
orientation to 2030, linking this with six breakthrough programs in recent stress from bond issuances. It is clear that dealing
the 2021-2025 period. with bad debts in the context of the current complex
corporate bond market will need more time, at least until
the Law on Bad Debt Handling is issued. In the short
22 COVER STORIES term, the management agency needs to closely ensure
Circular No. 16 is implemented.
LITTLE CHANGE IN PERCEPTIONS

OF BUSINESSES ABOUT DIGITAL

TRANSFORMATION

The latest survey by the Vietnam Chamber of Commerce and
Industry (VCCI) shows that three-quarters of surveyed businesses
are interested in applying digital technologies given the impact of
Covid-19. But the perception of businesses about digital
transformation has not changed a great deal. For example, 36.1 per
cent of businesses have heard about digital transformation but don’t
know how to begin the process, while 17 per cent show no interest at
all. Digital transformation is no longer simply a wish; it has become
mandatory for the sustainable development of businesses. However,
mistakes in act and deed at Vietnamese enterprises are creating issues
for the process.

4 Kinh tế Việt nam | Số 16 | ngày 18/4/2022 www.vneconomy.vn