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...]

Asia Pacific works together to address natural calamities

More than 2 million Vietnamese people are directly affected by natural disasters (Photo: VNA) More than 100 delegates from across the Asia Pacific region gathered at a regional forum held in Hanoi on July 2 to discuss a cooperation model among governments, businesses and charities in coping with natural disasters. The Asia-Pacific region suffers from frequent natural disasters which cause great losses in both human lives and properties, heard the conference, with the outstanding example of the earthquake in Nepal recently. In Vietnam, more than two million people are affected by storms each year. Richard Welford, Chairman of Corporate Social Responsibility in Asia (CSR), stated that major attention should be shifted from enterprise involvement in preparing for response to disasters to sound coordination through the model. The best results will be reached once the capability of each side is utilised to the best, he noted. According to Prudence Foundation Executive Director Marc … [Read more...]

Prospects of Vietnam Leather & Footwear Export with FTAs

The free trade agreements (FTAs) that Vietnam has signed, or will sign, will reach most of Vietnam’s major leather and footwear export markets. That has created two-side effects on Vietnam’s export prospects. Confident on larger playgrounds The leather and footwear industry accounts for 8-10 percent of Vietnam’s exports and is the third largest export after garment - textile and telephone and parts. The sector’s export turnover was US$8.764 billion in 2012, US$8.4 billion in 2013 and US$10.3 billion in 2014. In 2015, the value is estimated to climb to US$13.5 - 14 billion and the localisation rate will reach 65-70 percent, a very high rate, as leather and footwear exporters have now signed contracts for full operations until the end of the third or even the fourth quarter of the year. Its export prices to the US, Japan, Australia and South America are stable or even slightly higher due to higher minimum wage increase in Vietnam. Vietnam is the fourth largest … [Read more...]

4 students selected to represent Vietnam at the 13th Hitachi Young Leaders Initiative

The Hanoitimes - ​Hitachi Asia Ltd. have just announced 4 university students selected to represent Vietnam at the 13th Hitachi Young Leaders Initiative (HYLI). The event, which will be held in Manila, the Philippines from 27 - 30 July 2015, will bring together prominent regional opinion leaders from the private, public and academic sectors to discuss regional transportation issues and engage in dialogue with the student participants. The students will work together to present their ideas about how these issues can be addressed. They were selected after passing a rigorous application and evaluation process that included a panel interview chaired by Madam Pham Chi Lan, Former Secretary General & Vice President, Vietnam Chamber of Commerce and Industry and Former Senior Adviser to Prime Minister, Prime Ministerial Research Committee. All of them possess academic excellence, good extra-curricular activities record, displayed strong leadership qualities, keen interest in regional and … [Read more...]

Sir Nick Faldo to promote Laguna brand

VietNamNet Bridge – Sir Nick Faldo has been appointed brand ambassador of Laguna Lang Co, the Banyan Tree Group said on Tuesday. Figure head: Laguna Lang Co has appointed six-time Major winner Sir Nick Faldo as its brand ambassador. — Photo billionaire.com A series of upcoming events, including the inaugural Laguna Golf Classic in November and 11th Faldo Series Asia Grand Final for young golfers in March 2017 at Laguna Lang Co Golf Club, shall follow suit. Sir Nick Faldo will play in his final Open Championship at the home of golf – St Andrews – in July 2015, where he will represent Laguna Lang Co as its brand ambassador. The six-time tournament winner has won the Claret Jug thrice, including in 1990 at St Andrews, the venue for this year's competition. The Banyan Tree Group developed the first and largest world-class integrated resort in Viet Nam. "I am looking forward to a prolific partnership. Having collaborated with Laguna Lang Co to create its … [Read more...]

Faldo to promote Laguna brand

Figure head: Laguna Lang Co has appointed six-time Major winner Sir Nick Faldo as its brand ambassador. — Photo billionaire.com THUA THIEN-HUE (VNS) — Sir Nick Faldo has been appointed brand ambassador of Laguna Lang Co, the Banyan Tree Group said on Tuesday. A series of upcoming events, including the inaugural Laguna Golf Classic in November and 11th Faldo Series Asia Grand Final for young golfers in March 2017 at Laguna Lang Co Golf Club, shall follow suit. Sir Nick Faldo will play in his final Open Championship at the home of golf – St Andrews – in July 2015, where he will represent Laguna Lang Co as its brand ambassador. The six-time tournament winner has won the Claret Jug thrice, including in 1990 at St Andrews, the venue for this year's competition. The Banyan Tree Group developed the first and largest world-class integrated resort in Viet Nam. "I am looking forward to a prolific partnership. Having collaborated with Laguna Lang Co to create its … [Read more...]

Dong Nai province: Over VND50 billion to build pre-school for workers’ children

TaeKwang Vina Company in the Bien Hoa industrial zone in the southern province of Dong Nai has recently inaugurated the construction of "TaeKwang pre-school" to serve workers’ children. The inauguration of the school construction. (Photo: LDO) This is a large construction belonging to the corporate social responsibility project that has been carried out since 2012 by the company. Costing nearly VND50 billion, the Japanese style-designed construction was built to international, environmentally friendly standards on an area of over one hectare. The school has over 30 classrooms, playground and other supplementary buildings. Dinh Sy Phuc, President of the company trade union, said that the company leaders understand the difficulties of workers in sending children to private foundations. Therefore, the company decided to build the pre-school to deal with workers’ difficulties. Speaking during the inauguration ceremony, Chung Joo Kyung, the company general director, … [Read more...]

Building Sustainable ASEAN Economic Community

In his opening remarks at the Vietnam Corporate Sustainability Forum 2015, ASEAN General Secretary Le Luong Minh, stressed the role of business in building a sustainable ASEAN economic community, adding that through social responsibilities, businesses could contribute to and enhance sustainable development, social welfare, social equality and environment sustainability. Many challenges After years of impressive and sustained growth, ASEAN has reached a new stage of development. As a collective outfit, ASEAN is now the 3rd largest economy in Asia and the 7th largest in the world, projected to be the 5th largest by 2030 and the 4th largest by 2050. In fact, it has been the fastest growing economy in Asia after China for the past ten years, with a combined 2014 GDP of approximately US$2.8 trillion and a large consumer base of 625 million. Yet, the region is now at a crossroad. Its continued economic progress cannot be taken for granted. While peace, stability and security is … [Read more...]

Over 16M VND raised by Doosan Vina Flea Market for Charity

Doosan Vina's employees spent more than a month rummaging through their homes looking for things they could donate to the upcoming Charity Flea Market that raised over 16M VND. ​ During the month long collection they gathered more than an 1,000 items that were brought in for sorting, cleaning and categorizing. The goods ran the gambit from cookware to computers and bicycles to blouses. Hosted by the Organizational Culture (OC) Department of Doosan Vina the items began flooding in soon after the Flea Market was announced. The three day event, which was held in the Main Office between 12:00 and 1:00 PM, drew a frenzy of interest and as the doors opened a throng of eager shoppers rushed in to have first chance at the bargains. The fixed price items ranged from 10,000 VND to 400,000 VND or between $0.50 and $20.00. The Charity Flea Market was the latest in a series of charity and Corporate Social Responsibility (CSR) projects that have been supported by Doosan Vina. Since opening … [Read more...]

Vietnam – Belgium Master Programs: 20 years of excellence

The Solvay Brussels School and its Vietnamese partners have commemorated 20 years of successful joint business master's programmes. The Vietnam - Belgium Master Programs (VBMP) were founded in 1995 by the Solvay Brussels Business School (under the Université libre de Bruxelles), in partnership with the Vietnam National Economics University and Ho Chi Minh City Open University. The programme was initiated by an agreement between the Vietnamese and the Wallonia - Brussels government of the Kingdom of Belgium, with an aim to nurture business leaders in Vietnam after the start of the doi moi policy in 1986. The five masters programmes offered at VBMP focus on diverse business fields, including business administration, marketing and advertising, banking and finance and public management. All courses are conducted in English by international professors. "After 20 years in Vietnam, VBMP has granted master's degrees of global standards to 2,200 students. The majority of our … [Read more...]

Mr Philanthropy

Nicknamed ‘Dom the Rescuer’ by the Wildlife At Risk Organisation, Dominic Scriven, OBE, is a prime example of a socially responsible businessman in Vietnam. Nam Phuong spoke to him about his philanthropic values and how they affect his investment decision. In 1994, Dominic Scriven founded Dragon Capital, one of the largest and longest-running foreign investment firms in Vietnam, and he continues to lead the firm to this day. Having called Vietnam home for the past 21 years, he has held senior positions on the boards of many leading Vietnamese corporations and contributed to the growth of the domestic stock market. Besides, a long-standing financial career, Scriven is well known for his philanthropy, and in 2004 he founded Wildlife At Risk (WAR), a non-profit organization based in Ho Chi Minh City which works to conserve Vietnam’s threatened biodiversity. "At the time, most of the non-profit organizations for conservation were located in the Northern area of … [Read more...]

VCCI’s Missions in Renovation Process

The Vietnam Chamber of Commerce and Industry (VCCI) has creatively endeavoured to uphold its role as a national agency representing and protecting the rights, supporting and promoting the Vietnamese business community in all aspects of economy, business and labour relations. Dr Vu Tien Loc, VCCI President, said Vietnam now has over 300 business associations, of which about a third have nationwide operations. In addition to 4.6 million individual business households, the business sector is employing about 11 million workers, including more than 60 percent generated by private sector. Over half a century of construction and development, VCCI has a proud history but its development attachment to national renovation and development is the most special thing. Inspiring entrepreneurship VCCI has tirelessly endeavoured for the development of the business and community and the entrepreneur force. VCCI has evoked entrepreneurial spirits and egged on private economic development. VCCI not … [Read more...]

Innovation and Creativity: Driving Force for Sustainable Development

After nearly 10 years doing business in Hoa Binh province, An Thinh Hoa Binh Real Estate Joint Stock Company has left remarkable imprints in urban and industrial infrastructure construction. Its Luong Son Industrial Park is a bright spot in investment attraction in Hoa Binh province. But for more than a year now, An Thinh Hoa Binh decided to invest in a new trend. Vietnam Business Forum interviewed Mr Vu Duy Bong, Chairman of An Thinh Hoa Binh Real Estate Joint Stock Company and Member of VCCI Executive Committee of the sixth term. Nguyet Tham reports. As a business leader, how do you assess VCCI’s positions and roles in business support and development promotion in the past term? VCCI has an important role in the business community, which is convincingly evidenced by its gathering of over 110,000 direct and indirect members. Remarkably, top companies of different economic sectors are VCCI members. The 5th VCCI term (2008-2013) is a testing period of the Vietnamese economy and … [Read more...]

SSC, GIZ to develop green capital market

The State Securities Commission (SSC) and the German Federal Enterprises for International Co-operation, better known as GIZ, will collaborate to develop a green capital market. The collaboration will take place under a new co-operation framework of the Macroeconomic Reform/Green Growth Program during 2015 to 2017. This was revealed yesterday during the workshop on "Support for Development of Capital Market in Viet Nam" in Ha Noi. With a focus on green financial sector reform, the program aims to develop policies and regulations to facilitate capital mobilization in the capital market for green investments. Michael Krakowski, GIZ's Chief Technical Advisor and program Director in Viet Nam, said GIZ would support SSC and market participants to develop a green listing policy, which sets disclosure requirements on the green investment portfolio by listed companies and implements corporate social responsibility in the form of a code of conduct for the capital market. GIZ has also … [Read more...]

SPS VIETNAM: Top enterprise in 2014

By Quang Tuan Philipp Angst (1st, R), CEO of SPS Vietnam, receives "The Top Enterprises of the Year 2014" award from Quang Trung Software City In 2014, SPS Vietnam managed positive results in revenue with an increase of 50%. During a period of more than 10 years, SPS Vietnam has provided such services as Data Entry and Document Processing, Image Processing, Press Clipping, Software Development and IT Operational Services, which are certified by ISO/IEC 27001:2013 and ISO 9001:2008. Successful projects all over the world in more than 30 languages enabled the company’s further growth. SPS Vietnam’s 1,200-plus employees work 24 hours a day, seven days a week all year round. CSR: An integral part of success At SPS Vietnam, corporate social responsibility (CSR) is an essential part of its business. That is why the company has organized numerous social activities. Opening language training courses for employees and their children and conducting charity events are some … [Read more...]

Raising Business Productivity with Focus on Training

Human resources are a key factor for the development of enterprises. Enterprises usually spare no effort to invest in the recruitment and training of manpower; however, sometimes results coming out are not as expected. Businesses are still face trouble finding suitable personnel, and the leadership has headaches with the questions: Why haven’t I received expected results even though having organised training and education? How can our staff have higher qualifications than other companies’ but not be as efficient? This is the main topic discussed at the Corporate Social Responsibility Forum themed "How to organise internal training to increase business productivity?" held on April 7 in Hanoi. This was one of the main events within the framework of the project "Improve Corporate Social Responsibility (CSR) and Sustainable Consumption and Production in Vietnam", an initiative of the Office for Business Sustainable Development (SDforB) under the Vietnam Chamber of Commerce and … [Read more...]

Vietnam to host ASEAN ICT competition

Vietnam’s central Da Nang City will host the ASEAN ICT Awards' ceremony in November as part of the Meeting of the ASEAN Telecommunications and IT Ministers (TELMIN). The rules and guidelines for the ASEAN ICT Awards 2015 Vietnam have recently been announced by the Ministry of Information and Communications. Vietnam is hosting the event for the first time. The awards will officially be launched in the ASEAN region on April 15. Enterprises are required to submit their products in their respective countries before July 15. Each member country will be allowed to nominate a maximum of three products in each of six categories: public sector, private sector, corporate social responsibility, digital content, start-ups, and research and development.-VNA … [Read more...]

2015 ASEAN ICT Awards launched

Photo for illustration. Source: sieuthimasomavach.vn PANO - The Ministry of Information and Communications announced the 2015 ASEAN Information and Communications Technology (ICT) Awards at a press conference in Hanoi on April 9th. The awards would be given to projects of the public sector, the private sector, corporate social responsibility, digital content, start-ups, and research and development. Companies should submit products, registered for the awards, in their respective countries before July 15th. Each ASEAN member country is allowed to nominate only three products in each category. After the qualification and final rounds, the awarding ceremony will be organized in Da Nang city this November. This is an annual award, initiated by ASEAN Information and Communications Ministers at the ASEAN Telecommunications and Information Technology Ministers Meeting (TELMIN) in 2011 in order to honor creative and high quality products. Also at the press conference, Deputy Minister of … [Read more...]

Ministry announces rules for ASEAN ICT Awards 2015

The Ministry of Information and Communications announced the rules and guidelines for the ASEAN ICT Awards 2015 on April 9. The Ministry of Information and Communications announced rules and guidelines for the ASEAN ICT Awards 2015 on April 9 in Ha Noi. The awards ceremony for the ASEAN ICT Awards will be held in Da Nang City in November. It will be part of the Meeting of the ASEAN Telecommunications and IT Ministers (TELMIN), for which Viet Nam is playing host for the first time. The awards will be officially launched in the ASEAN region on April 15. Enterprises are required to submit the products competing at the event in their respective countries before July 15. Each member country will be allowed to nominate a maximum of three products in each category. Awards will be handed out in six categories: the public sector, the private sector, corporate social responsibility, digital content, start-ups, and research and development. Organisations and enterprises must send information … [Read more...]