E hair import inc

In its article, the leading financial newspaper of Japanese media giants Nikkei Inc., said Vietnam is targeting a growth rate of 6.5% this year.

The agency stated Vietnam’s exports will likely continue to be supported by US tariffs on Chinese goods and that in order to avoid US tariffs, importers have shifted demand from China to alternative suppliers, with this trend likely to continue.

According to the agency, before the pandemic, Southeast Asia achieved collective annual growth of about 5% for many years, making it one of the world’s best-performing regions.

The region also became an attractive investment destination, with a relatively young population driving demand and providing plenty of labour. These advantages remain in place, but first the region needs to stamp out COVID-19.

Nikkei also reported that Southeast Asian economies are aiming to this year regain the growth momentum they had before the COVID-19 pandemic caused historic declines in 2020. A look at early forecasts around the region, however, shows a wide range of scenarios as risk continues to lurk.

The agency said that Singapore hopes to achieve its forecast of gross domestic product growth of 4% to 6% for 2021, Indonesia expects GDP to grow by between 4.5% and 5.5% this year, the Philippines projects a growth range of 6.5% to 7.5%, while Thailand has lowered its targets, revising its 2021 forecast down to between 2.5% to 3.5% growth.

Nguyen Thi Bich Van

In early 2021, on its Facebook page, IBM Vietnam for the first time announced the appointment of a female Vietnamese CEO to replace a foreign CEO who had been working for IBM for 25 years.

The woman, Pham Thu Diep, is the first IBM’s ‘female general’ in the company’s 25 years of operation in the Vietnamese market.

It is now more common to see women managing large corporations in Vietnam such as Mai Kieu Lien, CEO of Vinamilk; Nguyen Thi Nga, president of BRG; Nguyen Thi Phuong Thao, CEO of Vietjet; and Le Thi Thu Thuy of VinFast are some of the names.

However, becoming a CEO of a foreign invested technology firm is still rare in Vietnam.

Before taking the office as CEO of a technology firm, Diep was a high ranking manager with 23 years of experience in the IT field. Starting her career at TRG International, she later held posts at Exact, which provides ERP service and cloud software to clients specializing in accountancy.

Diep joined IBM in early 2011 and has had many leadership positions since then.

In 2017, a Vietnamese woman became the highest ranking leader of Unilever Vietnam, a foreign invested enterprise specializing in personal and family care products and food. The first Vietnamese female president of the leading company in the FMCG sector is Nguyen Thi Bich Van, who has had a strong attachment to the company for the last 24 years.

Le Diep Kieu Trang is another well known name among businesswomen. She worked as CEO of Facebook and Go-Viet before choosing a new way to go.

The ‘golden girl’ with respectable achievements during school has had leadership positions at the world’s largest groups in Vietnam.

The brilliant achievements gained by VietJet Air, the air carrier with the largest market share, in the last decade bear the hallmark of CEO Nguyen Thi Phuong Thao. Last year Vietjet was one of only a few air carriers in the world which did not lay off workers and also made a profit, despite the Covid-19 crisis.

After a period of holding the post of CEO at Fossil Vietnam, Trang chose Facebook to use her experience to connect to the business community, both in Vietnam and overseas.

Global vision

Van said in Forbes Vietnam that being a leader in a multinational environment requires a high level of professionalism. She needs to understand multinationals’ vision and define their role in the multinationals’ business.

The working environment at multinationals is very diverse, so there is high requirement on the ability to work, communicate, and think in that environment. To encourage people to raise good ideas, leaders not only need to understand national cultures, but also understand the abilities of each worker so as to combine their talents and lead the staff to the finish point.

According to Van, this is not an easy work, because the more talented people there are, the more difficult it is for the team to reach a common purpose. In modern times, CEOs need to not ‘issue orders from the top down’, but ‘serve others’. They need to set orientation and then give power to workers to implement the strategies.

Some important positions at foreign corporations were and are held by Vietnamese women. These include Nguyen Phuong Anh, who worked as Google Asia Pacific marketing director in charge of the Vietnamese market; and Nguyen Mai Phuong, who became the youngest branding director of Unilever at the age of 24.

Vietnamese businesswomen also play an important role in the development of Vietnamese enterprises.

The brilliant achievements gained by VietJet Air, the air carrier with the largest market share, in the last decade bear the hallmark of CEO Nguyen Thi Phuong Thao. Last year Vietjet was one of only a few air carriers in the world which did not lay off workers and also made a profit, despite the Covid-19 crisis.

Thao has been included in Bloomberg’s list of 50 global influential leaders for many years. Thao is also chair of the board of directors and founding shareholder of Sovico Holdings, and deputy chair of HDBank.

In the manufacturing sector, Le Thu Thuy, president of VinFast, is a respectable name. Just within a short time, VinFast introduced its first two products – LUX A2.0 sedan series and LUX SA2.0 SUV at Paris Motor Show 2018. Most recently, its first three SUV smart electric cars were launched.

The great strides made by VinFast has created a stronger belief in the future of Vietnam’s automobile industry. This is the first time in history that a Vietnamese company can manufacture luxury cars with good design and high quality, to be sold in Vietnam and in the world market as well.

V. Ha

A year on since the Covid-19 pandemic first began Vietnamese are taking more control of their health and finance, driving greater interest in fitness and well-being along with insurance and retirement planning. — Photo courtesy of Manulife

HCM CITY — A year on since the Covid-19 pandemic first began Vietnamese are taking more control of their health and finance, driving greater interest in fitness and well-being along with insurance and retirement planning, as Asia looks to the longer-term impact of the disease, according to new research from Manulife.

The latest version of the ‘Manulife Asia Care Survey’ takes a closer look into customers’ concerns, priorities and aspirations, polling 4,000 people across the region who either own insurance or intend to buy it in the next six months, including around 520 in Việt Nam.

Nearly all (95 per cent) of those who worry most about Covid have made an effort on a personal level to improve their overall health, mostly through more regular exercise (58 per cent) and improved diet (54 per cent).

In Việt Nam, all the respondents said they had taken action to help them manage Covid, with 72 per cent saying this included doing more regular exercise. More people in Hà Nội (85 per cent) do more regular exercise than in HCM City (73 per cent).

Almost everyone is self-monitoring health, and Vietnamese pay the most attention to the number of steps walked (44 per cent) among the four emerging markets covered in the survey, against a regional average of 38 per cent.

Three out of five (60 per cent) of Vietnamese also own fitness wearables, well above the regional average of 46 per cent.

A large majority of Vietnamese (79 per cent) also said retirement planning has become more important since Covid-19 started, below the Philippines (90 per cent), Indonesia (88 per cent) and Malaysia (83 per cent) but higher than all the developed markets.

The regional average is 73 per cent.

This high level of interest in retirement ties in with their concerns about personal wealth.

In Việt Nam, more than half (52 per cent) thought their personal wealth would decline as a result of Covid-19. The rate was only higher in Hong Kong (58 per cent) and Singapore (55 per cent).

Aligned with taking better control of health and finance is an interest to buy new insurance.

In Việt Nam, a remarkable nine out of ten (91 per cent) said they intend to buy new insurance in the next six months, higher than anywhere else in the region. The regional average is 71 per cent.

The Vietnamese respondents were most interested in life, hospitalisation, accident and critical illness cover.

Three quarters (75 per cent) of Vietnamese respondents, again more than anywhere else in the region, said they prefer to manage their policies through digital means such as mobile apps, including for claims and payment.

The survey found that 71 per cent of them had spoken to an agent about purchasing insurance, well above the regional average of 64 per cent, with only Hong Kong (77 per cent) and mainland China (76 per cent) scoring higher.

“Vietnamese insurance customers are seeking more digital touchpoints that are safe, simple and convenient,” Sang Lee, CEO of Manulife Vietnam, said.

“While those digital habits are here for the long term, a good many still like to speak to their agents. This underscores the importance of our omnichannel approach, one that fully integrates digital, while maximising our human qualities of empathy, trust and a holistic understanding of our customers’ needs.” — VNS