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Summary

32 INVESTMENT - INFRASTRUCTURE

SPEEDY CONSTRUCTION

BRINGS NEARLY 500 KM
OF EXPRESSWAYS INTO

OPERATION

28 BANKING - FINANCE
Monetary policy must be implemented
in line with inflation target he 2023 marked a host of records in the transportation
T he US Federal Reserve (US Fed) continued to raise interest T sector, with 475 km of expressways opened to traffic;
the highest annual figure ever. With major efforts from
rates in 2023, creating many difficulties for monetary policy
management around the world, including in Vietnam, government leaders and the transportation sector as a
Associate Professor Nguyen Huu Huan from the University of whole, large-scale projects were implemented on schedule
Economics Ho Chi Minh City told a. Most countries, to help investors and project management boards follow
including Vietnam, have chosen to contain inflation and accept a plans. The record volume of public investment capital
growth trade-off, causing global demand to seriously decline and allocated during 2023 presented both a huge challenge and
affect their exports. Monetary policy must be implemented with a significant opportunity for the Ministry of Transport to
inflation targets in mind, rather than aim for both growth and complete key and urgent projects and gradually improve
inflation control, as currently. To promote long-term growth, transport infrastructure and create drivers for development.
Vietnam cannot solely depend on monetary policy and must also Disbursed capital from the Ministry of Transport in 2023
focus on actual factors such as capital resources, technology, labor reached about 90 per cent of the assigned plan; the highest
quality, and workplace productivity. on record and in the country.

34 PROPERTY 40 DIGITAL BIZ

5G to be commercialized

nationwide in 2024
REAL ESTATE

MARKET EXPECTS

BREAKTHROUGHS

IN NEW YEAR I t has been forecast that, by 2030, 5G will earn
Vietnamese operators revenue of $1.5 billion. By
2025, 5G is likely to contribute 7.3-7.4 per cent to
Vietnam’s GDP growth because it can improve
M any analysts have said that although Vietnam’s real estate workplace productivity and business performance. 5G
will also help social development and boost the digital
market was quiet in 2023, demand for housing remains
substantial. The market will see new developments in skills of Vietnamese people, thereby creating jobs
2024, raising expectations among both real estate businesses relating to science and technology, the environment,
and production. The technology will be a driving force
and homebuyers. It has been forecast that housing products
in promoting the digital society, the digital economy,
serving actual needs will be prioritized in investors’ portfolios and digital government, opening new opportunities for
in the new year, in which apartments will lead a market businesses and improving the user experience. Network
recovery starting from the first half. The market will also operators are hoping for commercialization of 5G at the
witness new trends in buying and selling. The passage of the earliest possible time, and the Ministry of Information
Law on Housing (amended) and the Law on Real Estate
and Communications has indeed determined it will be
Business (amended), and the upcoming Land Law (amended), commercialized nationwide during 2024. Under
which is expected to also be passed, will bring huge changes to expected plans, a spectrum auction plan for 5G will be
the real estate market.
announced in January.

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