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            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                          
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