True to course

Mr John Howell, Chief Executive Officer of Prudential Vietnam Assurance PLC, spoke with VET as it celebrates 10 years in Vietnam. Over the last decade Prudential has received over 15 recognitions and awards. Among these is a Golden Dragon Award for last six years in succession. 2008 was a difficult year for all sectors due to the global financial crisis. How do you view its effect on Vietnam's insurance sector and on Prudential Vietnam Assurance? There is no question that we are now operating in a tougher and more complex economic environment. Last year Vietnam's economy experienced high inflation, while the end of the year saw a global economic decline with the collapse or near-collapse of some world renowned financial institutions. Despite the challenges, Prudential Vietnam has managed to stay true to our course and continue to build its fantastic organisation. Our product and distribution strategies, underpinned by our capable and experienced employees and agents and … [Read more...]

Bucking the trend

Unlike many, insurers in Vietnam remain optimistic about the continued growth of their local market despite the events of here and elsewhere. Local people may feel reluctant to use life insurance as a saving or investment vehicle. When insurance giant American International Group Inc. (AIG) imploded last autumn, many of its policyholders and the media in Vietnam wondered to what extent its business in Vietnam was going to be affected. But the General Directors of AIG Life and AIG non-life in Vietnam confirmed they were doing well, given they were established as stand alone companies and were not directly affected by what may be happening to their parents company.According to Mr Jamie Rains, General Director of AIG Life Vietnam, the company far exceeds the regulatory requirement, with solvency at 267 per cent of that required. More than 80 per cent of the company's investment portfolio is in government bonds, with the remainder in corporate bonds, term deposits and policies. AIG … [Read more...]

VIDIFI Ready to Undertake Big Projects in the Future

Site clearance for the construction of Hanoi - Haiphong Highway was commenced in May 2008, construction packages were carried out in 2011 and the route was officially open to traffic on December 5, 2015. The route starts at the intersection of Hanoi Ring Road III, about 1 km north of Thanh Tri Bridge and ends at the Port of Dinh Vu, Hai An District, Haiphong City. The investor, Vietnam Infrastructure Development and Finance Investment JSC (VIDIFI) had spared no effort to complete the most modern and synchronous freeway in Vietnam as of December 2015 on schedule. The project also helps make breakthroughs in socioeconomic development, national defence and security. With its endeavours, VIDIFI was praised the Prime Minister and the State Appraisal and Acceptance Council. The success of the highway project is a motivation for VIDIFI to stay ready to take on key transport infrastructure projects in the future. Vietnam Business Forum interviewed Mr Dao Van Chien, President of VIDIFI. Ngoc … [Read more...]

Winners of French Business Awards named

Kieu Giang Winners and representatives of the organizing committee of the French Business Awards 2016 - PHOTO: KIEU GIANG The respective awards of Communication, CSR (Corporate Social Responsibility), Entrepreneur and France-Alumni went to Air France, Exo Travel, urban game and event agency Ubiquest, and consulting, technology and outsourcing services provider Capgemini. As the winner of Communication category, Air France was awarded a full communications package offered by the CCIFV while CSR winner Exo Travel got a teambuilding package for 10 people sponsored by Ta Lai. Ubiquest, which won the Entrepreneur award, received legal service and support by DS Avocat and Air France handed over a return ticket to Paris to the France-Alumni winner Capgemini. French Business Awards were established in 2013 on the occasion of the France-Vietnam Year to recognize the dynamism of the French companies or individuals in Vietnam. By rewarding the best performers in the fields, CCIFV … [Read more...]

French businesses in Vietnam honored for innovation, integration, adaptability

Four French companies have been honored for their innovation, integration, and adaptability when operating in Vietnam. The French Chamber of Commerce and Industry in Vietnam (CCIFV) held a ceremony in Ho Chi Minh City on Thursday to reward the French businesses. The French Business Awards 2016, given by the CCIFV for the third time, were presented to the four French businesses in four categories, including communication, corporate social responsibility, entrepreneurship, and France alumni. Regarding the Communication category, French carrier Air France won over satellite TV service provider K+ and retailer Decathlon for the company’s ability to tailor its communication campaign to fit the local context at a limited cost and put customers’ stories at the heart of the campaign. In 2015, Air France flew to 179 destinations in 80 countries, including seven in Vietnam, operated 344 planes, and hired nearly 64,000 employees worldwide. In the Corporate Social … [Read more...]

Nghe An sees investment of 6.6 billion USD

The central province of Nghe An attracted a positive investment flow totaling 150 trillion VND (more than 6.6 billion USD) during the 2010-2015 period. This was announced by Director of the provincial Department of Planning and Investment Nguyen Van Do. The Hoa Sen steel sheet factory. (Source: baonghean.vn) In the 2010-2015 period, levels of investment capital registered in the province more than doubled the figure seen in the two previous years, with some large-scale projects licensed, such as Hoa Sen steel sheet factory, Quynh Lap 1 thermo-electricity plant, the Song Lam cement factory, the Vingroup trade and service complex, and the Vietnam-Singapore Industrial Park (VSHIP) Nghe An, according to the director, as quoted by baodautu.vn. He attributed this encouraging performance to greater efforts by local authorities and other sectors in accelerating administrative reforms, especially reducing the time and expense required to complete investment procedures, in order to better … [Read more...]

Nghe An sees investment of US$6.6b

The central province of Nghe An attracted a positive investment flow totaling VND150 trillion (more than US$6.6 billion) during the 2010-15 period. This was announced by the director of the provincial Department of Planning and Investment, Nguyen Van Do. In the 2010-15 period, levels of investment capital registered in the province more than doubled the figure seen in the two previous years, with some large-scale projects licensed, such as Hoa Sen steel sheet factory, Quynh Lap 1 thermo-electricity plant, the Song Lam cement factory, the Vingroup trade and service complex, and the Vietnam-Singapore Industrial Park (VSHIP) Nghe An, according to the director, as quoted by baodautu.vn. He attributed this encouraging performance to greater efforts by local authorities and other sectors in accelerating administrative reforms, especially reducing the time and expense required to complete investment procedures, in order to better assist investors. In the future, the province will focus on … [Read more...]

Nghe An sees investment of $6.6b

NGHE AN (VNS) — The central province of Nghe An attracted a positive investment flow totaling VND150 trillion (more than US$6.6 billion) during the 2010-15 period. This was announced by the director of the provincial Department of Planning and Investment, Nguyen Van Do. In the 2010-15 period, levels of investment capital registered in the province more than doubled the figure seen in the two previous years, with some large-scale projects licensed, such as Hoa Sen steel sheet factory, Quynh Lap 1 thermo-electricity plant, the Song Lam cement factory, the Vingroup trade and service complex, and the Viet Nam-Singapore Industrial Park (VSHIP) Nghe An, according to the director, as quoted by baodautu.vn. He attributed this encouraging performance to greater efforts by local authorities and other sectors in accelerating administrative reforms, especially reducing the time and expense required to complete investment procedures, in order to better assist investors. In the future, the … [Read more...]

Don’t Frame “Integrity and Transparency”

"Do not just frame ‘integrity and transparency’ as pure moral values because this is actually an interesting combination of ethics and business. Put it another way, integrity and transparency are the core of business administration, dominate communication processes, information exchanges within the business, and bottom-up and upside-down interactions," said Mr Nguyen Quang Vinh, Member of Standing Committee and Deputy General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) at a conference announcing the survey report titled "Current Integrity Practices in Business and Demands for Corporate Capacity Building Support" in Hanoi. This is an activity within the framework of Project 12 - Enhancing Integrity Initiative in Business, a business-led initiative launched by the Office for Business Sustainable Development under VCCI and implemented in 2015 -2019. The result of a survey with 180 businesses operating in Hanoi, Danang and Ho Chi Minh City shows that 55 … [Read more...]

ISO 14001:2015: Integration Key for Businesses

In the context of globalisation trend, Vietnam is regarded as an attractive investment destination for foreign investors and more and more multinational organisations have been present in Vietnam to do business. Sustainable development and corporate trustworthiness are necessary conditions for signing business agreements and ISO14001:2015 certificate is a key for business integration. "Green passport" A lesson that Vietnam learns from other countries is quality management is now an urgent need. Growth quality must be emphasised, not growth pace. Economic growth must benefit all stakeholders, including society and nature. It cannot be a burden for the poor and future generations as happened in some parts of the world. Among environmental management standards, ISO14001:2015 is one of the most widely used standards in the world and is an important business tool for many organisations. With more than 300,000 certificates granted each year, this standard is ranked pretty high in working … [Read more...]

Standard Chartered firms up Vietnam’s integration to boost growth

London-based Standard Chartered Bank sees Vietnam’s strong efforts to embrace regional and global economic integration as a boost to its business in the country, where it is fully committed to investing in the nation’s growth through a robust and sound long-term strategy. "Vietnam has showed signs of economic recovery and a transformation towards higher value economic activities. It is also becoming highly integrated into the world economy with its impressive export record and focus on various free trade agreements," said Standard Chartered Vietnam CEO Nirukt Sapru. "Vietnam is strongly deepening bilateral ties with many countries. Lots of major global companies have already incorporated Vietnam into their supply chains, and many more are exploring the opportunity." Robust strategy As Vietnam becomes a strong international trading nation, Standard Chartered continues to be a partner in helping businesses internationalize their customers and supply chains. The emerging … [Read more...]

2,500 Quang Ngai people to benefit from Doosan medical service

​As planned, Doosan Heavy Industries Vietnam (Doosan Vina) in collaboration with Chung Ang University Hospital is holding their annual corporate social responsibility (CSR) medical service from 11 to 15 January, 2016 in Quang Ngai province. ​Accordingly, about 2,500 residents in districts of Binh Son and Minh Long will receive medical checks and treatments for free. Such of the common diseases the elderly often have as rheumatoid arthritis, high blood pressure, anemia, sciatica, aches and bronchitis will be examined and treated. And the children will receive treatment for malnutrition and dental problems. Besides, Doosan Vina is going to offer the EO Gas sterilization equipment and rehabilitation equipment to Quang Ngai provincial general hospital. Since its grand opening in May 2009, Doosan Vina has held multi charitable activities such as: granting scholarship to students of nine Universities nationwide, renovating and donating equipment to schools, giving nutrient porridge to … [Read more...]

Corporate Sustainability Index Needs Completing Soon

This is the guidance of Deputy Prime Minister Vu Duc Dam to the Vietnam Business Council for Sustainable Development (VBCSD) at a recent meeting in Hanoi. At the meeting, Mr Nguyen Quang Vinh, Secretary General of VBCSD, reported on VBCSD’s outstanding performance in 2015. Accordingly, VBCSD carried out many sustainable and responsible business models with the inclusion of businesses and low-income people in agriculture; successfully hosted the "Vietnam Business Sustainability Forum 2015," coordinated with two United Nations agencies, namely the UN Global Compact and the International Trade Centre, to launch the integrated sustainable agriculture programme in Vietnam in the 2015-2018 period; and catalysed and supported enterprises to adopt sustainability reporting as a tool to enhance competitiveness, strengthen governance towards transparency and integrity, and fight against corruption. Besides, VBCSD received and cooperated with domestic and international partners to develop … [Read more...]

Doosan taps into worker pride

Yeon In Jung, the recently-appointed CEO of Doosan Vina, spoke with VIR about the company’s upcoming plans to make greater contributions to Vietnam’s growth by capitalising on the strength of the local workforce. As Doosan Vina’s new CEO, can you reveal what the company will focus on in its upcoming development phase? Two of my main priorities are: Localisation through the cultivation of talent as well as the transfer of technology, and "Supporting Healthy Communities". How has Doosan Vina nurtured the strength of the local workforce? We have nearly 2,500 Vietnamese employees under Vietnamese management. Also, we’ve been training, recruiting, and equipping Vietnamese workers since commencing operations in 2009. Today we have over 642 Vietnamese engineers, managers, supervisors, and technicians that have all been developed organically. This seems like a complex objective, can you explain a bit further? We’ve always believed that our Vietnamese … [Read more...]

Microsoft receives CSR award

HA NOI (VNS) — Microsoft was honoured with the AmCham Corporate Social Responsibility (CSR) Recognition Award 2015. The award was for Microsoft's commitment to transparency, good governance, sustainable business practices and serving the community that provides a model inspiring others to follow in Viet Nam, and reflects the best practices that AmCham seeks to promote in the country. Microsoft has endeavoured to make crucial contributions in the ICT industry and the country's economic development through various programmes to build solid IT infrastructure, education, employability and entrepreneurship projects to promote innovation as well as improve the quality of human resources. Viet Nam has been an important market for Microsoft in ASEAN which received special investment from the IT giant compared to other countries in the region. — VNS … [Read more...]

Female workers in Dong Nai, Binh Duong benefit from reproductive healthcare project

VietNamNet Bridge - The three-year project on advancing social and economic development of female migrant workers through gender-sensitive initiatives has successfully been completed in the southern provinces of Binh Duong and Dong Nai. The EU-funded project, which was implemented by Marie Stopes International Vietnam (MSI) from 2013 through 2015, brought practical benefits to female workers in factories in Binh Duong and Dong Nai. Why was the project launched? A communication session for workers on reproductive health care and contraceptive methods. Surveys conducted in 2013 at some factories in Binh Duong and Dong Nai showed that among 100,000 female migrant workers, many of them had poor knowledge, attitudes, and practice of reproductive health protection. Some 41.9% responded that they were afraid/very afraid to use contraceptive methods and 28.6% had never attended any gynecological examinations or received any reproductive health care services. The majority of clinics … [Read more...]

Dow recognised by Amcham for CSR initiatives in Vietnam

US chemical giant Dow was just honoured Amcham Corporate Social Responsibility (CSR) Award 2015 by American Chamber of Commerce in Hanoi- a prestigious organisation representing American business community in Vietnam - for its smart CSR programmes in Vietnam. The award further highlights Dow’s contributions to the country’s sustainable growth after its 20 year of presence in the market. Dow’s smart CSR programmes not only finance but also leverage Dow’s technologies and solutions to deal with issues severely impacting lives of local underprivileged. Dow’s typical smart CSR programmes in Vietnam throughout its two decades of presence in the country include empowering more than 2,200 engineers with knowledge about cleaner production through over 30 workshops on "Training of Cleaner Production and Waste Management for Businesses in Vietnam", and training ISO 14000 for over 800 engineers in 2015 to improve their awareness on environment protection and … [Read more...]

Microsoft receives AmCham CSR Recognition Award 2015

Today, on the occasion of AmCham Annual Meeting, American Chamber of Commerce (AmCham) announced Microsoft to receive the AmCham Corporate Social Responsibility (CSR) Recognition Award 2015 for its efforts in empowering Vietnamese people to do more and achieve more. The award is the recognition of Microsoft’s commitment to transparency, good governance, sustainable business practices and serving community that provides a model inspiring others to follow in Vietnam and reflects the best practices that AmCham seeks to promote in the country. Entering the market since 1996, shortly after Vietnam and the US normalised diplomatic relations, after nearly 20 years of operation, Microsoft not only affirms its position as the world’s leading technology company but also makes contributions to the Vietnamese people. Since its presence in Vietnam, Microsoft has endeavored to make crucial contributions in the ICT industry and the country’s economic development through various … [Read more...]

Reproductive health care for female workers: More than just a corporate social responsibility

After 3 years of implementation, the Project on ‘Advancing Social and Economic Development of Female Migrant Workers through Development and Implementation of Gender-sensitive Initiatives’ in Binh Duong and Dong Nai provinces, is now complete. This study, executed by Marie Stopes International Vietnam (MSI) from 2013 through 2015 and funded by the European Union (EU), brought up practical benefits to female workers in factories in Binh Duong and Dong Nai. Workers play games on reproductive health and contraceptive methods at a Health Fair Day Project practicality: Research in 2013 at supply factories in Binh Duong and Dong Nai showed that among 100,000 female migrant workers, many of who have poor knowledge, attitude, and practice of reproductive health protection, 41.9% responded that they were afraid/very afraid to use contraceptive methods and 28.6% had never attended any gynecological examinations or received any reproductive health care services. The majority … [Read more...]