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Summary

40 BANKING - FINANCE
46 DIGITAL BIZ
DA NANG COMPLETES

MORE CREDIT INFRASTRUCTURE
TO REMOVE FOR SMART CITIES,

DIFFICULTIES CONNECTING VIETNAM
AND ASEAN
IN SOCIAL HOUSING

R esolution No. 43-NQ/TW from the Politburo on
building and developing Da Nang city to 2030 with a
M any analysts believe that existing incentive mechanisms for complete the construction of smart urban areas,
vision to 2045 sets a goal that “By 2030, Da Nang will
social housing investors are not sufficiently attractive and few
businesses are interested in its development. Meanwhile, banks synchronously connecting with the smart urban network in
are facing difficulties because preferential lending within the the country and the ASEAN region.” The central city
VND120 trillion ($5 billion) support package is done entirely with therefore focuses on developing information and
capital mobilized from commercial banks, so they must be concerned communications technology infrastructure to approach
about preserving capital. The Hanoi Department of Construction has trends in Industry 4.0, and deploying digital transformation
proposed that there be a separate chapter in the Law on Bidding by 2025 with a vision to 2030, in which determining to build
regarding selecting investors for social housing projects in a an Intelligent Operation and Monitoring Center (IOC
streamlined fashion. In order for banks to be able to arrange a large Center) is among the key tasks. Putting the IOC Center into
amount of capital at preferential interest rates for social housing, the operation is expected to contribute to building a friendlier
State needs to introduce certain support mechanisms, through and smarter Da Nang, serving the goal of implementing
monetary policy tools, and at the same time create conditions for urban government and accelerating the process of building
banks to mobilize long-term and low-cost capital sources. a digital government in the city.

48 TRADE - MARKET 52 SOCIETY

Early warnings of SILK IN NEED

trade defense measures OF COMPREHENSIVE
PROGRAM
maintain advantages

for exports

A ccording to the Ministry of Industry and Trade (MoIT), A ccording to the Ministry of Agriculture and Rural
Development (MARD), Vietnam has nearly
with Vietnam participating in many free trade
agreements (FTAs), tariff barriers are gradually being 40,000 farming households currently engaged in
removed and exports of many products are on the rise. Trade growing mulberry trees and raising silkworms. However,
defense measures, however, have been increasing in recent contrary to growth in market demand, many silk villages
times, especially in the US. The Trade Remedies Authority of are increasingly facing difficulties. To achieve the goal of
Vietnam at the MoIT has coordinated with units, ministries, bringing the export value of the silk industry to $150
branches, localities, associations, and businesses to effectively million annually by 2025, comprehensive solutions from
handle and respond appropriately, including early warnings science and technology are required. The mulberry tree
over the risk of trade defense investigations. When identifying value chain is in need of a comprehensive incentive
the risks, through early warnings, MoIT recommends that program. MARD is currently implementing a pilot
businesses gain basic information and knowledge about trade scheme on building standard agricultural and forestry
defense and trade defense regulations to understand their raw material areas for domestic consumption and export
rights and obligations. in the 2022-2025 period.

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