Dang Tuyet Dung, country manager for Visa Vietnam and Laos Why did you choose university students as the target audience of your financial literacy education programme? Visa believes the most important financial tool is not a product – it is knowledge. That is why Visa has been developing financial literacy programmes that teach individuals, especially university students. The first reason is that we consider students as the ambassadors of change, and a key factor that will make a lasting impact on the programme’s development in Vietnam. These are the people that will shape the country over the coming years, and as such, it is vital that they learn these skills. Second, the growth of electronic payments is exciting because it benefits everyone by giving them access to faster, more convenient, and more secure ways to pay. Especially, there is huge enthusiasm amongst the Vietnamese youth about technology, and many are shopping online regularly. We expect that, by the time … [Read more...] about Visa kits out students with financial finesse
How does investing promote financial growth
This year, major international organizations forecast that the world economy will continue its downward trend, of which developed economies will have a growth rate of 0.3 percent lower than last year and emerging economies will keep the same growth rate of last year of about 4.7 percent. However, Vietnam's economy is still forecasted to be optimistic, with GDP up 6.6 percent to 7 percent. Sai Gon Giai Phong Newspaper recently had an interview with Ms. Ta Thanh Binh, head of the Securities Market Development Department under the State Securities Commission. SGGP: In your opinion, what are highlights of 2018? Ms. Ta Thanh Binh: Last year, the Vietnam’s securities market experienced several fluctuations due to complex economic, financial and monetary situation in the world. However, the country’s securities market was still able to achieve and maintain impressive results amid the situation. By the end of 2018, the Vietnam’s benchmark VN-Index was at 892.54 points, down … [Read more...] about Securities market needs improvement to attract investment
Vietnam’s infrastructure has struggled to keep up with its robust economic and population growth. Rapid economic growth and urbanization are driving demand for roads, power, airports, ports, waste and water treatment, hospitals, and other public infrastructure for goods and services. Meanwhile, public funding is unable to meet these needs. The gap would have to be made up from other sources including private investment in the form of public-private partnerships (PPPs). To put it simply, the public sector has the ‘users’ (or customers) and land and can provide other incentives such as tax breaks. The private sector can bring in technology, capital and efficiency through experience. Other countries have successfully implemented PPPs. In Vietnam, a number of tools have been created to assist the government in its support for PPPs, aiming to create a much improved legal framework for PPP to revitalize investment in infrastructure projects. Legal issues update The … [Read more...] about Legal complications remain for foreign investment in Vietnam infrastructure
Generali Group CEO Philippe Donnet What is your view on the growth and outlook of the Asian economy? Where do you think Vietnam stands in this picture? The global economy is continuing its expansionary phase following the recovery from the financial crisis. Thus, most Asian countries are benefiting from a rebound in global economy supported by firm recovery in major industrial economies and strong investment growth in the region. Being one of the most dynamic emerging countries in Asia, Vietnam has seen strong economic development over the past years with 6.8 per cent GDP growth in 2017. It is forecasted to increase to approximately 7 per cent in 2018 and keep its growth momentum by 2020, driven by rapid export growth and increased domestic consumption. Moreover, with the EU-Vietnam Free Trade Agreement scheduled to be ratified in 2018, Vietnam is expected to see an influx of European investors and companies aiming to trade. It will contribute to strong foreign direct investment. … [Read more...] about Generali Group CEO: Strong belief in Generali Vietnam’s sustainable growth
Companies in Vietnam have experienced fierce competition over the last few years, both qualitative and quantitative. Many have been forced to close down while others are still in business but struggling to move forward. The question is how to make a brand not only sustainable but also grow in value in the context of fierce global competition and rapid digitalization. There are many approaches to answering this question. Here I note the three key driving forces for brands: digital transformation, globalization, and brand leadership. In my observation, these forces help grow a company’s brand value if implemented successfully. Customer-centric digital transformation Unlike in the past, customers now have many brand choices for a particular product in Vietnam. Let’s take bakery goods for example. Customers would have previously mentioned Kinh Do in the south or Hai Ha in the north, but today they may name a long list of bakery brands: Top Cake, Tous Les Jours, ABC, … [Read more...] about How best to maintain brand value?