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Summary

14 ECONOMY - POLICY 38 BANKING - FINANCE

ENHANCING TRANSPARENCY
Consumer demand recovers AND PREVENTING RISKS IN

as CPI up in opening month THE
of the year
BANKING

SYSTEM

T he amended Law on Credit Institutions 2024
was approved by the National Assembly (NA)
T he consumer price index (CPI) in January increased 0.31 per cent on January 18 and will take effect from July 1.
compared to December and 3.37 per cent compared to January
last year, the General Statistics Office of Vietnam (GSO) has said. At the “Revised Law on Credit Institutions: Effective
Domestic consumption is gradually recovering, but many workers’ lives Resource Allocation” discussions organized by
remain difficult two years after Covid-19, affecting growth in a/b on February 3, experts and market
consumption. Many policies to address difficulties in production and participants said they believe that the associated new
business were actively and synchronously implemented during 2023, regulations will have a positive impact on preventing
which provide an important premise for the business community to risks from credit concentration and limit cross-
boost production and business this year. The loosening of fiscal and ownership and bank manipulation. However, in order
monetary policies, the flexible management of many interest rate for the regulations to be effective in practice, it is
reductions, and the continued application of tax and fee reduction necessary to further strengthen the supervisory role
policies will have a positive impact on production and consumption of independent members of Boards of Directors and
throughout the course of 2024. Supervisory Boards.

40 DIGITAL BIZ 48 TRADE - MARKET

‘Good news’ in agriculture,
Legal framework for centralized
information technology parks forestry and fisheries exports

brings results E xport turnover of agriculture, forestry and
fisheries products in January stood at $5.14
billion, an impressive 79.2 per cent increase
compared to January 2023, according to the General
Statistics Office of Vietnam (GSO). The industry
posted a trade surplus of $1.43 billion, or 4.6-fold
higher year-on-year. Export value to all markets
increased. In the domestic market, the Ministry of
Agriculture and Rural Development said prices of
most products rose compared to December 2023 due
A fter more than ten years of implementation, the legal to high demand as the Lunar New Year, or Tet,
holiday approaches, but are relatively stable.
corridor for centralized information technology parks has
achieved certain successes. However, a range of
inadequacies and problems have also appeared in practice, with
the number of concentrated information technology parks still
not commensurate with development potential and those in place
fail to meet rapidly-changing needs in the era of booming digital
technology. Some parks have faced difficulties implementing
construction activities and attracting investment, while some of
the existing regulations lack consistency. It is therefore necessary
to supplement and complete the legal corridor to create
momentum for information technology parks to focus on
development in the new era.

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