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Summary

24 OP EDS

NEW INNOVATIVE BUSINESSES AND
STARTUPS STILL IN NEED OF SUPPORT

Young businesses and startups in the field of innovation still
require support to be able to attract investment, successfully
build core technologies, and identify breakthrough business
models. According to Ms. Le Hoang Uyen Vy, CEO of Do
Ventures, Vietnam needs more capital to support these
businesses and startups and inspire more people. The
government also needs to improve the legal framework for
attracting investment capital to innovation.
18 COVER STORIES

VIETNAM’S CYBERSECURITY
CAPABILITIES REMAIN STABLE

The conflict between Russia and Ukraine and between other
countries has led to various cyberspace issues. Despite these being
likely to affect Vietnam, the country has demonstrated its
cybersecurity capabilities, with recent attacks being handled in a short
period of time. According to the Global Cybersecurity Index 2020,
Vietnam ranks 25th out of 194 countries and territories around the
world. However, it still requires widespread network security support
in terms of resources and technical infrastructure. And businesses in 34 BANKING & FINANCE
the cybersecurity field must also increase the level of treatment by
engaging a team of experts. In terms of State management, the CORPORATE BOND MARKET TO BE
government should issue regulations to promote a development
environment for cybersecurity companies. CONTROLLED

Issuing corporate bonds to raise capital has become an
effective capital-raising channel for businesses, but there
have been cases of issuances being blighted by errors, to
the detriment of the market. Financial analysts have said
that the number of businesses issuing bonds with credit
ratings in Vietnam remains low, so the government needs
to adopt a mechanism to create the necessary conditions
for enterprises in the market to develop and improve
credit ratings and to boost the efficiency of laws relating
to the market. The legal framework also needs to be
6 ECONOMY & POLICY clearer, to match the relatively heated development of the
VIOLATIONS IN CAPITAL MARKET market in recent times. It is also necessary to consider
limiting the participation of individual investors.
TO BE STRICTLY HANDLED

At a conference on developing a safe, transparent, and
efficient capital market to stabilize the macro-economy and
ensure major economic balances, Prime Minister Pham
Minh Chinh affirmed that the government will strictly
handle violations to protect the interests of investors and
businesses and will support the market’s rapid and
sustainable development. He assigned the Ministry of
Public Security and the Government Inspectorate to
coordinate with relevant ministries and branches to
promptly detect and strictly handle violations in the bond
market and stock market, to protect the legitimate rights
and interests of investors.

4 Kinh tế Việt nam | Số 17 | ngày 25/4/2022 www.vneconomy.vn