Asia digital marketing

Vietnam’s top stationery manufacturer Thien Long Group is popping the champagne on the “double victory” in the fourth quarter. To carve out a spot among Vietnam’s top 50 brands on Forbes Vietnam’s list with a valuation of $24.3 million, Thien Long has not only shown non-stop efforts to overcome adversities during this turbulent year but also posted skyrocketing business results with significant revenue.

Other top local players in Vietnam’s top 50 brands are Viettel, Vinamilk, VNPT, PNJ, Biti’s, and Minh Long I, among others.

Thien Long Group enters top 50 Vietnamese leading brands 2020

This is the fifth consecutive year Forbes Vietnam has ranked the most valuable brands dividing by sectors. Forbes Vietnam’s assessment of the enterprises is based on criteria including development, growth rate, as well as sustainability and transparency. Forbes Vietnam follows the evaluation methodology of its parent company Forbes (US) to ensure objectivity.

To make it into Vietnam’s top 50 brands in a difficult year like 2020, title holders have effectively strengthened trust with existing customers while making non-stop efforts to reach out to new customers.

Along with the ceremony announcing Vietnam’s top 50 brands, the guests also participated in the “Branding in COVID-19 period” conference to update on and share digital marketing trends and branding during and after COVID-19.

At the conference, well-known experts and business leaders discussed methods to build brands with digital tools to reach users effectively, especially on ways to best approach future generations of consumers.

Previously, on November 23, Thien Long became one of the six Vietnamese companies honoured in Asia’s 200 Best Under a Billion List by Forbes Asia .

Thien Long Group is one of six Vietnamese enterprises in Asia’s 200 Best Under a Billion List

Along with this, the company was recognized for its impressive performance throughout its history until 2019. With a 60 per cent share of the domestic pen market, last year, Thien Long’s revenue touched VND3.252 trillion ($141.4 million) with after-tax profit of VND349 billion ($15.2 million), up 14 and 18.7 per cent, respectively, compared to the previous year.

According to Forbes Asia , the 200 enterprises on the list outperformed their competitors in terms of revenue, profit growth, debt control, and good corporate administration, thereby achieving good business results despite the difficult economic situation.

Of the six Vietnamese enterprises on the list, two – Century Real Estate JSC and Phat Dat Real Estate Development JSC – came from the real estate sector, two – Dong Hai Ben Tre JSC (DHC) and Thien Long Group JSC – from the household industry, while seafood and aviation contributed one name each, with Nam Viet JSC (ANV) and Taseco Aviation Services JSC (AST).

Benjamin Hung, CEO, Asia, Standard Chartered

Amid the lacklustre news flow, it is easy to overlook the profound shifts which are rapidly taking shape. Here in Asia, there are increasing reasons for optimism. Already home to over half of the world’s population and a rising middle class, COVID-19 and geopolitics have accelerated seismic shifts in the region’s business landscape, much of which are structural and enduring. Globalisation is giving way to regionalisation. Fundamental changes are happening in supply chain approaches, trade pacts, digital and consumption patterns, and financial innovation.

Although COVID-19 set back progress, we have seen the region’s policymakers act decisively to mitigate its impact, protecting economies from their worst ravages. As it stands, Asia is rebounding faster than the rest of the world. Research estimates Asia’s growth of 7.5 per cent in 2021, with China and India leading at 8 per cent and 10 per cent, respectively, spearheading the global economic revival.

Slingshotting the comeback will be the Regional Comprehensive Economic Partnership (RCEP). The RCEP is expected to boost intra-Asian trade, which already accounts for half of Asia’s trade volume. With a harmonisation in trade standards, RCEP’s added connectivity will bolster a rapidly rising north-south corridor.

Supply chain shifts precipitated by US-China tensions on top of the already revved-up engine of Asia’s emerging consumer base will bring about a structural rebalancing of global trade corridors. The East will increasingly be producing for the East. And other advances – including enhanced connectivity within the Greater Bay Area and across ASEAN – will add whirls of vitality.

Asia’s re-engineering

After all, Asia is in a different place to where it was even a year ago. COVID-19 has wrought structural changes, but it is these exact shifts that are presenting underrated opportunities for businesses. Through a wider lens, I see in Asia new supply chain dynamics and digital innovation creating jobs, transforming skills requirements, and remaking economies.

Experiencing last year’s growing fragility of the international supply chain, those businesses quick to adapt have re-engineered their approach to sustain growth. With certainty of supply now valued as highly as costs and speed-to-market, supply-chain participants have rebalanced their priorities, focusing on a “just-in-case” model with greater emphases on self-sufficiency and business continuity.

The pandemic has also brought digitalisation to the fore, compelling traditional and new players alike to adopt technology to ensure resilience and sustainability. Everything from education, shopping, food and healthcare are shifting online.

Asia has already surpassed North America and Western Europe in terms of the share of e-commerce retail sales, with the fastest growth coming from India, China and Indonesia. Governments are also accelerating digital interconnections. China’s digital currency, Singapore’s Networked Trade Platform and Hong Kong’s eTradeConnect all serve to bring greater connectivity to facilitate trade and payment flows.

Act now, act decisively

A year from now, the world could look vastly different from what it is today, just like how it did from the last 12 months. At the heart of a resurgent Asia will be fast-changing digitalisation dynamics against a rapidly evolving context.

For the bold and decisive, it is this backdrop in Asia that provides a unique, broad, and exciting canvas – albeit a fragmented one. No single business player has dominated any sector in Asia as Google, Amazon or Apple have in the United States and around the world. Take messaging apps: LINE dominates in Taiwan and Japan, whereas Telegram, WeChat, Signal, and WhatsApp are popular in other parts of Asia. Likewise for e-commerce platforms, ride-hailing apps, and payment wallets.

Recognising that this gap exists is key – it’s indicative of the potential opportunities that are available. Businesses that act upon what Asia has to offer today will be well-placed to emerge as tomorrow’s leaders. And that reinforces another element: time is of the essence, and the first-mover advantage is real.

Prospective players, then, need to approach this market with an aggressive, dominant-player and fail-fast-learn-fast mentality. Companies that look to revamp their strategies now while factoring in the profound structural shifts underway will make a meaningful impact.

Success in Asia is unlikely to be straightforward. Much will also depend on extraneous factors, including regional stability, US-China relations, the speed by which the pandemic can be controlled, and how governments implement their public policies. Asia also faces substantial risks in climate change, where public and private sectors’ ability to heed sustainability considerations to generate long-term economic growth will be critical.

Caveats aside, Asia is the beating heart of the world and I have no doubt that it will pump vibrancy back into the global economy. My message, then, is simple: Watch this space, but don’t wait too long to act.

For Asia beckons!

In the past few years, Vietnam has achieved important milestones in the process of promoting the digital economy.

Digital transformation will help realize the aspiration to develop the country: expert

Mai Liem Truc, former Deputy Minister of Posts and Telematics, believes that technology and digital transformation is the key to robust growth.

Creating new synergy for the country through digital transformation

Vietnam will give priority to promoting innovation in digital technology development, carrying out digital transformation in business, society and governance, and gradually forming a digital economy, digital society and digital government.

The Hanoitimes – No one should be left offline in the digital economy.

The “app economy” provides potential risks and benefits for developing countries. The right policies are needed to bring out the best in these emerging economic trends.

Many countries in Asia are grappling with a digital economy that is growing faster than the regulations needed to manage it. Photo: Jens Johnsson

The statistics make clear the emerging trends. According to 2018 data from the International Telecommunications Union, more than half of the world’s population now has internet access, mostly via smartphones, which today are the default platform for distributing digital services. In Asia and the Pacific, smartphone penetration has reached 61%, which is higher than the global average. first innovation is distributed ledger technology, with the best known example being blockchain. Central banks in Japan, Thailand, Singapore, and Cambodia are researching or experimenting with wholesale digital currency using this technology. Second is artificial intelligence and machine learning, which could result in machines executing repetitive tasks with precision while automatically learning and improving user experiences without explicit programming. Meanwhile, the private sector is also leveraging “big data” to establish new connections, enhance efficiencies, and improve customer service and value. For example, one of the largest banks in Singapore and Malaysia has been successful with its customer-focused big data initiatives. third is the open application programing interface (API) – allowing one bit of software to communicate with another. This can allow businesses, including in the financial sector, to make certain functions and data available to both internal users and the outside world efficiently and effectively as well as safely and securely. First , careful policy action is needed to minimize risks and prevent unintended consequences. This can allow consumers, companies, and policymakers to balance enabling innovations with policies that address the accompanying risks. Information security, data, consumer protection, and financial stability must take priority. Second , quick and innovative policy efforts across countries must address the potential for rapid economic and financial spillovers arising from fast digital technologies. As Asian financial markets are increasingly interconnected to global and regional financial markets, digital technology will accelerate the potential spread of financial contagion. The existing ASEAN+3 finance process can be used for regular policy discussion for Asia’s fintech policy development and financial stability. Finally , countries need to adopt inclusive digital strategies to tap the full potential of digital technologies so that everyone can enjoy productive and safe digital lives. Bambang Susantono is Vice-President for Knowledge Management and Sustainable Development at ADB

One slide from Boeing’s 2020 Commercial Market Outlook (CMO) ranks Viet Nam in the top 5 countries which add the most airlines capacity between 2010-19.

Southeast Asia will need 4,400 new airplanes valued at US$700 billion to support expanding demand for air travel over the next 20 years, said Darren Hulst, Boeing vice president of Commercial Marketing.

In an online conference yesterday, Hulst quoted Boeing’s 2020 Commercial Market Outlook (CMO), saying: “The intra-Southeast Asian market will become the fifth largest in the world by 2039, and the vast domestic and regional air-travel network across the region positions it well for a post-pandemic recovery.”

With low-cost carriers providing affordable service and added capacity, CMO estimated traffic growth in Southeast Asia to grow by 5.7 per cent annually in the next 20 years, making the region the second largest aviation market in the Asia-Pacific region after China.

Boeing, at the same time, projected the region’s commercial airplane fleet to grow 5.3 per cent annually during the period while the demand for aftermarket commercial services could reach US$790 billion.

Hulst said: “Southeast Asia’s fundamental growth drivers remain robust. With an expanding middle-class and growth in private consumption, the region’s economy has grown by nearly 70 per cent over the last decade, which increases propensity to travel,” adding: “Governments in the region continue to recognise the travel and tourism sectors as important drivers of economic growth.”

Boeing’s vice president said: “Indonesia, Thailand, Viet Nam, Malaysia and the Philippines are the markets that most contribute to the growth in the global aviation market. They are also places with more room for expansion because of the emerging middle class, which could be 60 million new passengers in the next 15 years.”

Hulst also considered Viet Nam as the fastest growing market in terms of growth of air travel in the region with the advantage of a strong domestic market and the recent control of the pandemic.

Mentioning the demand for airplanes in the region, he said though the near-term airplane deliveries were impacted as a result of the pandemic, Boeing estimated operators would need more than 3,500 new single-aisle airplanes in the region by 2039 as the low-cost-carriers have the highest market penetration globally.

The airplane maker said twin-aisle airplanes such as the 777X and 787 Dreamliner still remain foundational to Southeast Asia’s air travel industry, adding one in four twin-aisle airplanes delivered to the broader Asia-Pacific region would go to a carrier operating in Southeast Asia. It forecast the region would need 760 new widebodies by 2039.

As the region’s commercial aviation services growth remained promising in the long term, said the CMO, Southeast Asia commercial services were valued at $790 billion over the next 20 years, a slight increase from last year’s projection, driven largely by growth in freighter conversions and digital solutions and analytics. With such estimation, Southeast Asia expected to require 183,000 more commercial pilots, cabin crew members and aviation technicians.

Globally, Boeing forecast the demand for 43,110 new commercial airplanes and the demand for aftermarket services to be equivalent to US$9 trillion over the next two decades when world air cargo traffic was projected to grow 4 per cent annually due to solid industrial production and world trade. The CMO said freighters would remain the backbone of the cargo industry with the need for 930 new and 1,500 converted freighters during the same span. — VNS