“The GDP has had good growth but the economic structure is adjusting too slowly to adapt to significant changes in the global economy,” Tran Dinh Thien, head of the Vietnam Economic Institute, said. “The economy needs a breakthrough in every aspect, from administrative reform to business models, to catch up with the rest of the world,” he said. Nguyen Thanh Nam, co-founder of the FPT Group and FUNiX University, said that to achieve success, “we must spend a lot of investment for a long journey to discover, learn, fail and stand up again to do business patiently.” Nam said that since innovative attitudes could lead to mistakes, companies should have their own mentors. “We have over 2,000 mentors in our university to guide our students on what they should learn and do,” he said. He mentioned a new university model in US that has no lecture halls, no campus, and no lecturers and staff. “It has 10,000 students and they learn and … [Read more...] about Economy needs breakthrough firms
Economy
New economy hotel adds colour to Nha Trang
Nha Trang’s white sand beaches will welcome the country’s first Ibis Styles hotel, the economy brand of AccorHotels.“Ibis Styles Nha Trang has embedded the brand’s own creative experience in the town’s original cheerful essence, and will appeal to travelers seeking an all-inclusive deal, a cocooning escape, relaxation and discovery,” said Patrick Basset, Chief Operating Officer for AccorHotels Upper Southeast and Northeast Asia.“Viet Nam is one of the fastest-growing tourism destinations in Asia and the country is forecasting 13 million international arrivals in 2017. The opening of Ibis Styles Nha Trang adds to our growth in the country where we have 24 hotels across key cities.”Each of the 310 guest rooms at Ibis Styles Nha Trang reflects the brand’s core values of simplicity and conviviality through bright and colourful design. The floor-to-ceiling windows offer spectacular views of Nha Trang beach.The hotel’s general … [Read more...] about New economy hotel adds colour to Nha Trang
Thailand’s economy forecast to grow 3.9 percent in 2017
Thailand's economy this year is expected to expand by 3.9 percent due to the government's stimulus policies, although risks remain in external factors and exchange rates. The 2018 economy is forecast to expand in the range of 3.6 - 4.6 percent due to global recovery, state investment projects, and growth in the tourism and consumer sectors. Over the past three years, the government has sought to boost the Kingdom's credibility among investors and maintain political and economic stability. Its efforts have reportedly resulted in an annual growth rate of almost 4 percent Source: VNA … [Read more...] about Thailand’s economy forecast to grow 3.9 percent in 2017
Economy car manufacturers seek entry to Vietnamese market
Economy automobile producers from Asian countries such as India, Malaysia or Indonesia are seeking ways to enter the Vietnamese market. Model Ertiga of India Recently, Suzuki Vietnam began offering a model of a seven-seat vehicle called the Ertiga, imported from India. The selling price begins at VND599 million (USD26,610), making it the cheapest of its class in Vietnam. According to some news sources, there will soon be three new economy models produced in Southeast Asian countries sold Vietnam. Honda has already introduced the HR-V in Thailand and Indonesia, being sold for USD20,000 in the latter country. Vietnam may become the third market in Southeast Asia to which Honda introduces this model. Meanwhile, there are rumours of the launch of the Mazda 2 in Vietnam in the near future. In Indonesia, this model is priced at between USD18,756 and USD22,507. There are also plans for Mazda to start domestic assembly. Proton, of … [Read more...] about Economy car manufacturers seek entry to Vietnamese market
Forum discusses the problems facing Vietnam’s economy
Vietnam’s economy saw some goods signs in the beginning of year such as lower inflation and a trade surplus. However, a number of problems have grown, including increasing bad debts, decreasing budget income and credit growth. Dr. Tran Dinh Thien, Associate Professor, Director of Vietnam Institute of Economics, made the statement at the opening ceremony of the Autumn Economic Forum held yesterday in the southern city of Vung Tau. Dr Thien also pointed out some paradoxes in the Vietnamese economy such as local banks having large amounts of money, while many enterprises complain about accessing capital. “Many outstanding problems relating to land disputes, lax management at state-owned enterprises or risks to the banking system, etc. are bringing more difficulties to the economy and people’s lives,” he said, while proposing solutions including setting out a long range development plan, removing quotas for provincial GDP growth, and providing more assistance to … [Read more...] about Forum discusses the problems facing Vietnam’s economy