Innovation, creativity, and business support mechanisms in realizing innovation efforts are challenging businesses, ministries, sectors, and localities amid the rapid development of science and technology. Innovation and creativity are an area in which Vietnamese businesses are weak during the Fourth Industrial Revolution in which labor productivity is of utmost importance. Vietnam's labor productivity is approximately US$4,000 per person per year, a very low rate compared to others in the region. FPT Software President Hoang Nam Tien said, “Currently businesses which are faster will win, defeating even bigger enterprises. How to embrace digital transformation remains an important question for all enterprises. The answer is to be quick to seize opportunities. Businesses should begin with small, simple things but be as quick as possible. In that way, it can quickly produce the desired effect.” Dr. Nguyen Dinh Cung, Director of the Central Institute for Economic … [Read more...] about Vietnamese businesses innovate for comprehensive integration
Vietnamese business for sale
Shopping for sale off US brands easier than ever with US Express
US Express, an e-commerce business specialised in purchasing and shipping goods from the US to Vietnam, on April 17 held the "Sale-off Authentic Brands" event aiming to launch its system connected to Nordstromrack and HauteLook, the biggest sale-off authentic brands in the world. Industry 4.0 has changed consumers' shopping habits Customers attending the event had the opportunity to buy a wide range of products from many prestigious US brands at discount prices of up to 90 per cent. In addition, US Express also organised the “Order 4.0” talk show to introduce its services of purchasing sale-off branded items from the US, organized a lucky draw, and a reverse auctionof branded products from VND0. The US is known as the birthplace of global brands and its goods, supplies, and utensilsare widely loved by consumers, including Vietnamese. However, the purchasing of authentic US goods and shipping time remains an obstacle for consumers as many US e-commerce … [Read more...] about Shopping for sale off US brands easier than ever with US Express
Babies for sale: poverty in Vietnam, desperation in China – VnExpress International
Back to English Comments News - March 5, 2019 | 10:13 am GMT+7 An insidious cocktail of abject poverty in Vietnam and desperation for progeny in China turns babies into commodities. Over the past three years, Ky Son District in the central province of Nghe An, one of the most underprivileged mountainous districts in Vietnam, has seen a boom in the business of selling newborns, mainly in Huu Kiem Commune.An initial estimate by local authorities is that 22 pregnant women, mainly belonging to the Kho Mu ethnic minority residents of the commune, have gone to China in order to sell their newborn babies to strangers for VND40 million to VND80 million ($1,720 to $3,450).Unforgettable memoriesSitting in a three-story stilt house, Moong Thi Tho, 26, recalled a journey she went on more than a year ago, returning home with VND40 million, the largest sum of money she’d ever had in her life.In 2017, Tho was pregnant with her third child. When she came to a local clinic for a prenatal … [Read more...] about Babies for sale: poverty in Vietnam, desperation in China – VnExpress International
Half of Vietnamese businesses admit to being defrauded, often by employees
The number is higher than the Asia-Pacific (46 percent) and global (49 percent) rates, professional services company PwC found in the 2018 Global Economic Crime and Fraud Survey it released Wednesday. The most common crime reported by the respondents was "asset misappropriation," which was experienced by 40 percent. "Bribery and corruption" was second at 36 percent, followed by "fraud committed by consumers" (33 percent) and "business conduct/misconduct fraud" (29 percent). The report said 53 percent of the fraud was committed by employees, with middle and junior management accounting for 61 percent. Losses caused by fraud were less than $100,000 for 53 percent of respondents. One third estimated they lost more than that. But the damage was not just financial. Marcus Paciocco, director of forensics services at PwC Consulting Vietnam, said: "Even though the non-financial damages may not be quantifiable, they can lead to potentially worse consequences than financial loss, such … [Read more...] about Half of Vietnamese businesses admit to being defrauded, often by employees
Australian to spend life in Vietnamese prison for drug dealing
The ring trafficked over 3.1 kilograms (6.8 pounds) of heroin from Vietnam to Australia. A HCMC court found Australian national Luu So Qui, 52, guilty of "illegal trading of narcotic substances" and "trading of precursors for illegal manufacturing of narcotic substances" and sentenced him to life imprisonment. Three of Qui's Vietnamese accomplices, including ringleader Hoang Cat Trieu, also received life sentences for "illegal trading of narcotic substances" while another accomplice was sentenced to 30 years in prison for "trading of precursors for illegal manufacturing of narcotic substances." The five defendants escaped the death sentence recommended by prosecutors because most of the drugs had been seized by Australian and Vietnamese police prior to being released into society, limiting the damage caused by their crimes, the court said. According to the indictment, Qui became acquainted with a Vietnamese Australian woman named Hoa while living in Ho Chi Minh City. Following Hoa's … [Read more...] about Australian to spend life in Vietnamese prison for drug dealing