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Summary

32 BANKING - FINANCE 46 BUSINESS

RESOLUTION No. 42 ON BAD DEBT HANDLING NIGHT-TIME ECONOMY TO BE
STILL EXHIBITS BOTTLENECKS DEVELOPED TO HELP TOURISM

Resolution No. 42/2017/QH14 on piloting bad RECOVER
debt settlement at credit institutions is
considered a tool helping bad debt handling, but The night-time economy model attracts
there remain shortcomings, especially as some tourists and creates specialties for localities, so
solutions have not been used. The National the more diverse the economy is the more
Assembly has therefore requested that the likely it will encourage tourists to stay longer
government adopt solutions to overcome the and stimulate spending. Hanoi, Ho Chi Minh
difficulties during the extension of the time to City, Hoi An, Da Nang, Khanh Hoa, Thua
apply all of the Resolution’s provisions. Thien-Hue, and elsewhere will implement the
“Developing the night-time economy” project,
contributing to improving the efficiency of
tourism businesses, extending the average stay,
and increasing visitor satisfaction.
38 INVESTMENT - INFRASTRUCTURE

MORE SUPPORT NEEDED

TO PROMOTE PPPs

Public-private partnership (PPP) projects were once considered the
solution to the problem of attracting investment capital and renewed
transport infrastructure projects and overcame problems in public
investment. However, a series of issues still discourage investors and
there are concerns that some projects may become “frozen”. The
government therefore needs to develop policies and a favorable 48 BUSINESS
environment to encourage the private sector to participate in PPPs in
transport infrastructure. FALLING FERTILIZER PRICES

40 INVESTMENT - INFRASTRUCTURE A CONCERN FOR BUSINESSES

World fertilizer prices fell sharply during June,
resulting in domestic prices cooling. Local fertilizer
companies are worried because of high inventories
from oversupply and want to boost exports, but
must address a proposal from the Ministry of
Finance (MoF) to apply a 5 per cent export tax.
Although fertilizer prices remain very high
compared to two years ago, producers still face a
OFFSHORE WIND POWER risk of losses due to increasing oil and gas prices,
which make it impossible to lower production costs.
HAS POTENTIAL BUT
CHALLENGES AWAIT

The potential of Vietnam’s offshore wind power sector is among the
“best in Asia” and analysts have assessed that it could save Vietnam
billions of dollars on imported fuel and will help it achieve its net zero
emissions target by 2050 in a cost-effective manner. However, the policy
framework, construction roadmap, and pricing mechanism for offshore
wind power plants have not been developed and there is also a lack of
clear and specific guidelines.

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