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Summary

14 COVER STORY 34 BANKING - FINANCE
Amending inappropriate regulations Blocking
key to restoring real estate market ways to ‘AVOID’

V ietnam’s real estate market has struggled with many
bottlenecks over the past two years, sharply
impacting businesses and investors. Legal issues
count among the greatest bottlenecks facing the market. ONLINE BUSINESS TAXES
According to analysts, focus is needed on resolving projects
facing legal problems by amending regulations regarding
laws, decrees, and circulars that are no longer appropriate.
The government, ministries, and branches have recently
issued a number of mechanisms and policies that have a
direct and indirect impact on the real estate sector.

T he tax sector has been losing revenue from “giants”
such as Google, Facebook, and YouTube for quite some
time. However, over the past two years, tax revenue
from e-commerce activities has been increasing rapidly. The
General Department of Taxation (GDT) has identified four
17 COVER STORY challenges for the tax sector. The sector needs to build a
centralized e-commerce database, including information on
INTERNATIONAL EXPERIENCE IN all organizations and individuals related to domestic and
cross-border e-commerce. The sector and ministries and
AND SUGGESTIONS ON ESTABLISHING branches still have a lot of work to do to secure more revenue
A LAND USE RIGHTS EXCHANGE from the field.

P rime Minister Pham Minh Chinh recently directed the
Ministry of Construction (MoC) to coordinate with the
Ministry of Natural Resources and Environment
(MoNRE) and relevant agencies on researching and 40 DIGITAL BIZ
establishing a land use rights exchange. This demonstrates
the determination of the Prime Minister and the government
to develop the economy and attract the attention of society. Making Vietnam a
However, there are also concerns about the necessity of a land
use rights exchange. The most appropriate model is still under ‘BRIGHT
discussion. MoNRE is currently developing two plans for an
SPOT’IN AI
exchange, for submission to the Prime Minister for a decision.

A rtificial intelligence (AI) is no longer a technology of
the future, but is increasingly penetrating deeper into
all areas of life and economic sectors and is forecast to
become a driving force in promoting economic development.
According to analysts, focusing on investing in AI will open
up major opportunities for countries, including Vietnam,
bridging the gap with the world. Developing a sustainable AI
ecosystem will contribute to making Vietnam a center of
innovation, developing AI solutions and applications in
ASEAN and the world.

4 KINH TẾ VIỆT NAM | Số 42 | Ngày 16/10/2023 www.vneconomy.vn