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Summary

20 COVER STORY

Many new features in picture
of Vietnamese consumption

C onsumer shopping trends in Vietnam in 2023 have 10 OP EDS
borne many new and notable characteristics.
Prioritizing the purchase of essential goods and valuing Real estate institutions still
new technology experiences are two “bright spots” in the
consumption picture. These two trends are expected to remain problematic, concerns persist
into the future, so businesses must identify and seize
opportunities at the right time to ensure their offerings are
consistent with changes among consumers. On December 21 hanks to efforts from the government, local authorities,
in Hanoi, a / b will hold the Vietnam Cool Products T and businesses, Vietnam’s real estate market has shown
2023 program to honor products and services that are at the signs of improvement, with more transactions being
forefront of applying new technology and digitizing and made, but results are negligible compared to a normal period
greening to optimize operations, production, sales of development, Mr. Nguyen Van Dinh, Vice Chairman of the
management, and effective marketing. Vietnam Real Estate Association and Chairman of the
Vietnam Association of Realtors (VARS), told b.
Institutional problems are not only related to a few laws but
are found in dozens of laws, and the contradictions and
inconsistencies in the legal system can be quite complex.
Institutional problems relating to real estate are still to be
resolved, with many projects remaining stagnant, and
businesses are still anxiously waiting for better days.

14 INVESTMENT - INFRASTRUCTURE

Vietnam participating
strongly in regional and

global semiconductor
ecosystem

6 ECONOMY - POLICY
VIETNAM A BRIGHT SPOT AMID

A STRUGGLING GLOBAL ECONOMY

T o reach the average GDP growth target of 6.5 per cent a T he semiconductor industry is one of the key strategic
industries globally and Vietnam is participating
more strongly in the regional and global ecosystem.
year in the five-year 2021-2025 period, as set out at the
beginning of the term of the 13th Party Congress, average The American Semiconductor Industry Association and
growth for the three years of 2023-2025 must stand at about 7.3 many other businesses recently visited Vietnam to explore
per cent. According to analysts, the world and domestic situation its investment environment for shifting chip production.
from now to the end of the term will be beset by difficulties and According to economic analysts, with the cooperation of US
challenges. This requires that Vietnam make good use of the tech enterprises, Vietnam will be able to exploit and
results and lessons learned, overcome remaining limitations and produce semiconductors on a larger scale in 2024.
weaknesses, especially those since the beginning of the 13th term, However, it still lacks the necessary human resources,
to continue promoting innovation, taking advantage of every especially microchip engineers. The Prime Minister has
opportunity and advantage, and overcoming all difficulties and therefore assigned the Ministry of Planning and Investment
challenges to successfully implement programs, plans, goals, and to quickly develop a project in human resources
tasks for the second half of the 13th term. development for the semiconductor industry to 2030.

4 KINH TẾ VIỆT NAM | Số 51 | Ngày 18/12/2023 www.vneconomy.vn