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Summary

36 PROPERTY

REAL ESTATE MARKET TO
34 DIGITAL BIZ
Effect of policies on innovative UNDERGO TRANSFORMATION
startups still to come etnam’s real estate market displayed many positive

V ietnam aims to be a developing country by 2030, with V signs over the closing months of 2023. There are many
other factors that are encouraging and will encourage
modern industry and upper-middle incomes, and by 2045
it is to become a developed and high-income country. It the real estate market to transform during 2024. Some legal
is therefore important to promote startups, including changes are still to be applied but will no doubt have a
innovative startups, to boost productivity growth. Vietnam’s positive impact. Along with solutions to remove legal and
startup ecosystem has recently improved in scores and capital difficulties facing the market, the “trust” of buyers
rankings, but besides the opportunities, the activities of and investors will continue to be a factor of concern and a
innovative startups also encounter many institutional barriers, focus of measures to relieve the pressure in 2024. Though
slow policy implementation, and limited resources to conduct “brilliant” results can never be guaranteed, 2024 will
such activities. This requires solutions to create motivation for represent the “first brick” in building a foundation for a new
innovative startups to develop sustainably. development cycle in Vietnam’s real estate market.

42 TRADE - MARKET 44 BUSINESS
Skyrocketing cargo prices affecting

seafood and wooden products

VIETNAMESE
BUSINESSES JOIN THE

CARBON CREDIT RACE

S tarting from the new year, freight rates to the US, Canada, ith Vietnam establishing and piloting a carbon
and the EU increased quite sharply, doubling rates in
December. In the agriculture, forestry, and fishery sector, W credit exchange, many businesses are interested
wooden furniture and seafood exports are two industries put in securing carbon credits and neutralizing their
under the greatest pressure from such increases, as products emissions as a necessary requirement for participating
are exported in large volumes to the US and the EU. Rising in global supply chains. Along with trends towards
transportation costs and higher input prices for aquaculture converting to green production and developing clean
and seafood processing are blunting the competitiveness and growing areas and raw material areas, many businesses
curbing the profits of seafood businesses. The Vietnam Timber said they are waiting for policies to access and benefit
& Forest Products Association (VIFORES) is closely monitoring from the carbon credit market. They will need to wait,
changes in freight transport around the world, providing however, for Vietnam’s legal roadmap on carbon credits
regularly updates so that businesses in the industry can firmly and net-zero emissions reductions to be completed.
grasp the situation and proactively plan production and imports Vietnam needs to perfect its carbon trading market
and exports, to avoid congestion and any other adverse impacts. mechanism, ensuring strict management by authorities.

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