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Besides, according to statistics during the COVID- or greatly affected by the COVID-19 epidemic as
19 pandemic, cybercrime attacks to defraud customers recommended by the State Bank of Viet Nam.
have increased 3 times over the same period. Fraudsters Stock market and real estate market
attack all banks, e-wallets, international money transfer
services. According to the Authority of Information There should be warnings for investors, especially
Security (Ministry of Information and Communications), those who are new to the stock market, because this is
over the past time, many mobile subscribers have a sensitive period, with many major changes in the near
received messages impersonating financial institutions future. At the same time, it is necessary to strengthen
and banks, sending fake and fraudulent content in order the state's supervision and management measures, the
to take people's money. In addition, there are many other financial safety and soundness, as well as the transparency
forms of financial fraud such as investment scams in standards for real estate companies using high financial
digital currencies, in capital-insured financial projects, leverage and having weak repayment capacity.
which are actually transformed multi-level models to Besides, Viet Nam's Government should improve
defraud assets of investors, or sites of online gambling institutions, policies and control financial crime, in order
and football betting, etc. to both create a legal corridor for new financial products
to meet people's needs, and limit cyber fraudulent and
3. Recommendations
criminal acts, contributing to financial security in the
Public spending current period.
4. Conclusion
It is said that it is necessary to raise the public debt
ceiling in the context of the current epidemic. However, Despite the great impact of the COVID-19 pandemic,
as analyzed, if calculated according to adjusted GDP, financial security in Viet Nam is still guaranteed, macro
the budget deficit and public debt ceiling are still within and micro indicators are still in the safe corridor. The
a safe level. Therefore, what needs to be done is to top goal and task set in the coming time is to implement
improve the efficiency of public spending, aiming at solutions to restore production and business of enterprises,
the top goal of economic recovery, creating conditions renew trade and service channels, and at the same time
for enterprises to return to production and business, having measures to stimulate and adjust the movement
unlocking the movement of capital flows, bringing of capital flows in a safe and healthy direction, creating
capital into production and business, creating economic economic growth and ensuring financial security so that
growth, thereby solving the budget deficit and public we can return the economy to the growth trajectory as
debt. Besides, we should prioritize the arrangement of before the epidemic soon.
funds for the prevention and control of the COVID-9
epidemic; consider introducing new economic stimulus References:
packages in the context that the COVID-19 epidemic 1. Bong Mai (2021). Securities companies race to increase scale and capital on par
is still lingering on a global scale; stimulate domestic with banks, Tuoi tre News, Links: https://tuoitre.vn/cong-ty-chung-khoan-chay-
consumption demand, promote production and dua-nang-quy-mo-va-von-ngang-ngua-ngan-hang-20211128133404847.htm.
business, and ensure resources for epidemic prevention 2. Diep Diep (2021). Should the public debt ceiling and budget deficit be lifted to
and economic development. "save" the economy? VOV News, Links: https://vov.vn/kinh-te/co-nen-noi-tran-no-
Current account cong-tham-hut-ngan-sach-de-cuu-nen-kinh-te-905666.vov.
3. Diep Diep (2021). Public debt risks exist after the pandemic, VOV News, Links:
Viet Nam should have solutions to restore trade https://vov.vn/kinh-te/rui-ro-no-cong-hien-huu-sau-dai-dich-844407.vov.
and service channels to adapt to the new situation of 4. General Statistics Office of Viet Nam(2021). gso.gov.vn.
the epidemic, especially tourism services after a long 5. Institute for Development and Research in Banking Technology VNUHCM (VNUHCM
interruption, in order to improve the current account and IBT), http://data.ibt.org.vn.
contribute to economic growth and job creation as well. 6. Lam Duy (2021). Credit growth in 2021 may reach 13%, Lao dong News,
Credit issues in the economy Links: https://laodong.vn/kinh-te/tang-truong-tin-dung-2021-co-the-cham-
nguong-13-968254.ldo.
Recently, credit expansion has not been 7. National Assembly of Viet Nam (2021). Resolution No. 23/2021/QH15 dated July
accompanied by commensurate growth. Credit capital 28, 2021 on the national financial plan and public debt borrowing and payment
is showing signs of going into a number of high-risk for the 2021-2025 period.
areas instead of going into production and business 8. State Bank of Viet Nam (2021). www.sbv.gov.vn.
due to the impact of the epidemic, which is likely
to have the potential to adversely affect financial Author’s information:
security. In the coming time, it is necessary to strictly Do Hong Viet
control the growth rate of credit balance, ensure Ho Chi Minh National Academy of Politics
credit quality, especially in areas with potential risks Email: dhviet89@gmail.com

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