Congress talks transforming finance in digital age The 48th World Chief Financial Officers (CFO) Congress opened in Ho Chi Minh City on November 15, focusing discussion on transforming finance in the digital age. In his opening speech, Nguyen Ngoc Bach, Chairman of the Vietnam CFO Association and head of the organising board, said the event, held for the first time in Vietnam, is a great opportunity for business leaders to gather, exchange and directly share their knowledge and practices, their intensive financial management skills with experienced finance leaders from other continents. “International financial experts will talk new trends and provide insights into the future of the financial sector and the challenges that business leaders and financial professionals are facing in this technological era,” he said. Nguyen Thien Nhan, member of the Politburo and Secretary of the HCM City Party Committee, said Vietnam and HCM City in particular are focusing on implementing … [Read more...] about BUSINESS NEWS IN BRIEF 17/11
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SCB signs deal with three Hong Kong banks Saigon Joint Stock Commercial Bank (SCB) and three Hong Kong banks on Monday signed a co-operation agreement on syndicated credit financing. Under the agreement, SCB, Hang Seng Bank Limited, Chong Hing Bank Limited and The Bank of East Asia Limited committed to support financial investment and ensure a stable financing source for Union Square Company Limited, which operates in the field of real estate. The signing was made within the framework of an investment development co-operation event held by the Viet Nam Chamber of Commerce and Industry (VCCI) in co-ordination with Hong Kong Trade Development Council (HKTDC) in HCM City on Monday. Also at the event, the four banks signed a strategic agreement for comprehensive and long-term co-operation in exchanging experience on investment and financial management, increasing business relations, conducting research and investment, and especially providing credit to local and foreign … [Read more...] about BUSINESS NEWS IN BRIEF 26/8
Can Tho invites investors to investment promotion conferenceThe Mekong Delta city of Can Tho will hold an investment promotion conference on August 10, inviting investors for 54 projects worth nearly 124 trillion VND (5.44 billion USD). At a press conference on the conference on August 1, Chairman of the municipal People’s Committee Vo Thanh Thong said investors have already expressed interest in 44 out of the 54 projects on offer, and some are ready to start work immediately on 22 projects. He added that some projects attracted two or more investors, so the city will set criteria to select the best among them. Among the 54 projects, 21 are in real estate, 9 in culture-sports and tourism, 9 in agricultural and industrial infrastructure, 8 in transport, 4 in logistics and power, 2 in cultural-sport and health care infrastructure and 1 in information technology. Prime Minister Nguyen Xuan Phuc is expected to deliver a keynote speech and chair the conference, … [Read more...] about BUSINESS NEWS IN BRIEF 2/8
As Vietnam develops, there is a growing debate on whether buildings with architectural or historical value in the core of major cities should be preserved. For some, those buildings are esthetically pleasant and are part of the collective memory; demolishing them would amount to losing part of the cities’ souls. For others, economic development is the key priority, and the land these buildings occupy is just too valuable to be sacrificed to emotional considerations. The ongoing discussion on whether to demolish Thuong Thu Palace in Ho Chi Minh City illustrates this clash of views. As a professional economist, I could be expected to have more sympathy for the second view. After all, economics is a “cold” science, with no inclination for sentimentality. However, modern urban economics suggests that the “either-or” approach underlying the current debate in Vietnam is wrong. Architectural preservation may not be the enemy of economic development, but rather a … [Read more...] about Neglecting architectural heritage could be a bad economic decision for Vietnam
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?