Why leaves turn yellow

The Hanoitimes – Vietnam should follow the EU’s steps in applying law to better revenue sharing between social media platforms and all content creators including newspapers and magazines.

llustrative photo

The two tech giants have increasingly gained revenue in Vietnam, sending the local press industry struggling. To make the picture clearer, the online advertising revenue in 2010 in Vietnam was only around US$10 million, of which Google’s and Facebook’s just made up a small amount.
Now the combined revenue of those two largest cross-border platforms in 2018 astonishingly surged to US$387 million, swallowing the biggest portion of online advertising of US$550 million.
In the meantime, the rate of press agencies earning revenue from online advertising plummeted to 31% in 2018 and will continue to fall to 29% in 2019 compared to 81% in 2010.
Also according to a 2018 report of the Central Commission for Communication and Education of the Communist Party of Vietnam, the revenue from online and printed press in Vietnam was VND4.9 trillion (US$210 million) in 2018 and that of television was VND10 trillion (US$429 million).
The figures pose the question about ads business of Facebook and Google as those platforms earned millions of dollars by sharing and citing contents, news articles of local content creators and press agencies but aversely shared the revenue with them, who eventually are accountable to the contents, VietNamNet reported.
Unfortunately, the Vietnamese government is still struggling to tax those revenues of Facebook and Google.
At the beginning of this year, policy expert Nguyen Quang Dong from the Institute for Policy Studies and Communication Development IPS raised his view that Vietnam should follow the EU’s steps in applying law to better revenue sharing between social media platforms and all content creators including newspapers and magazines.
The law is considered a move to guarantee the rights of press agencies which play significant role in providing contents for the social media platforms.
The dominace of social media platforms
The US-based Pew Research Institute’s reports showed that 80% of Vietnamese considered social media positive while just a mere 6% thought it is negative. As a result, despite some undeniable negative social consequences it has caused, social media is still regarded as an essential source of information.
Under the Facebook’s algorithm, users mostly see in their news feed stories which are relevant to them as it ranks the contents based on users’ reactions on previous posts. This could lead to the display of a part of the truth, not the whole of it, which negatively affect people and businesses. However, media experts said, this algorithm may become strength of mainstream press.
These press agencies are unable to compete with the social platforms in terms of speed but it is the accuracy and the honesty of the delivered information that guarantee its value and existence, according to Chairman and CEO of Le Group of Companies Le Quoc Vinh.
By 2021, it is forecast that over 3 billion people in the world would be subscribers of social media platforms while Vietnam would see 57.43% of its population using Facebook, 12.81% watching YouTube and the numbers continue to rise.

Vietnam is currently going through a growth spurt while entering an era with more modern and people-centred considerations rising in prevalence. What role does “soft power” play in GDP growth as well as regional and global success?

Vu Ba Phu, director general of the Vietnam Trade Promotion Agency under the Ministry of Industry and Trade

Vietnam’s soft power stems from not only the promotion of its own values such as the heroic history, rich culture and traditions, and pacifist foreign policy but also the development and optimisation of a range of new positions and advantages.

Amid the difficulties of 2020, the successful dispensing of its dual role as both ASEAN chair and non-permanent member of the United Nations Security Council is testament to the successful application of soft power in Vietnam’s foreign policy. In 2020, the world lauded Vietnam’s rapid response and contributions to regional and international affairs thanks to its ability to grasp opportunities, taking the initiative in coping with dynamic situations and ensuring economic recovery while promoting multilateralism and international solidarity to get through the COVID-19 crisis.

Vietnam not only dived deeper into the global economy and made increasing contributions to shaping the ground rules of international organisations, it also prepared for further comprehensive integration. Possibly the greatest achievements were extending Vietnam’s diplomatic relations to 187 out of 193 member states of the United Nations while completing negotiating and signing new-generation free trade agreements (FTAs), making the country an integral factor in all regional and intra-regional economic links.

With these steps, Vietnam is now one of the most open economies in the world, with the ratio of foreign trade to GDP increasing from 136 per cent in 2010 to approximately 200 per cent in 2019. Amid COVID-19 shutdowns in early 2020, Vietnam was among the very few countries to achieve positive GDP growth of nearly 3 per cent.

Vietnam’s soft power is a combination of many factors and has made significant contributions to increasing its prestige and position in the regional and international arena.

Branding is a strong tool for advocacy among global stakeholders. How is Vietnam globalising its homegrown brands?

In today’s continuously evolving economy, the greater a brand’s recognition in the international market, the more strength it provides to its country. Notably, branding will play a crucial role as Vietnam steps up participation in more and more new-generation FTAs.

Recognising this, the Vietnam Value Programme, launched in 2003, is the government’s unique and long-term trade promotion programme aiming to build Vietnam’s image as a country of high-quality products and services, to increase the pride and attraction of the country and its people, and to boost foreign trade and national competitiveness.

As the programme management agency, the Ministry of Industry and Trade of Vietnam (MoIT) has been actively supporting Vietnamese enterprises to improve their capacity through business development consultancy, establishing information systems, and updating branding knowledge. Promotion and public relations have also received a lot of attention to increase public and international awareness about the programme and Vietnam Value products through various channels.

The MoIT also builds and promotes geographical indications and collective trademarks from across the country in foreign markets, improving competitiveness of businesses based on a reputation for quality, environmentally-friendly production, and professionalism, thereby consolidating the position of Vietnamese brands globally.

Thanks to the support of the programme, many Vietnamese corporations and businesses have become aware of the importance of branding. Enterprises have gradually learned to promote their brands professionally, improving their competitiveness and reaffirming their position in the domestic and foreign markets.

Many outstanding Vietnamese brands have resonated with regional and international consumers and partners. For example, Viettel is in the globe’s top 15 in terms of mobile subscribers and the top 40 in terms of revenue. Meanwhile, Truong Hai Auto Corporation is gradually rising to the top position in the ASEAN region and state-owned Khanh Hoa Salanganes Nest One Member LLC has the largest swiftlet exploitation output. TH Group is the first Vietnamese company to successfully penetrate the Chinese market, the second-largest dairy consumption market in the world.

All these successes by individual brands have been continuously raising Vietnam’s national brand to a stronger global position.

How has COVID-19 impacted Vietnam’s international relations?

The far-reaching impacts of the COVID-19 pandemic have pushed many countries into a health and economic crisis. Despite the unprecedented challenges, Vietnam has been one of the world’s success stories in getting the outbreak under control, maintaining socioeconomic stability, and promoting bilateral and multilateral diplomatic activities. The initial great successes in the fight against the COVID-19 pandemic were due to the successful combination of the nation’s strength, in which soft power played a significant role.

Vietnam has proactively deployed its diplomatic strategy to orchestrate COVID-19 response, committed and stood ready to share information, and donated medical supplies to countries in need. The message of leaving no-one behind is one of the most vivid demonstrations of Vietnam’s wielding of soft power, proving the Vietnamese spirit of solidarity. That humanitarian spirit is also reflected in the help provided to overseas Vietnamese to return or the messages foreigners have posted about how fortunate they feel to be staying in the country during the outbreak.

Its effective anti-pandemic policies, along with the responsibility and dignity Vietnam has shown on the international stage, have been highly appreciated by international friends.

How will this successful use of soft power be turned into economic gains?

With the efforts of the government and the collaboration of the Vietnamese people to prevent and control the pandemic, Vietnam is now well-known as a safe country. This renown makes it easy for Vietnam to draw international investment, events, and tourists, which bring great opportunities for economic development.

Not only that, Vietnam has succeeded in turning the challenges of the COVID-19 crisis into advantages to enhance the image of Vietnamese products and national brands. Vietnam has defied the global trend with its brand value skyrocketing 29 per cent on-year, from $247 billion to $319 billion, ranking 33rd among the world’s top 100 national brands, and being the fastest-growing national brand in 2020.

Soft power is an extremely valuable asset for Vietnam to turn challenges into opportunities. In the midst of difficulties, Vietnam’s use of soft power was not weakened but became stronger than ever. Thanks to strong social consensus, national solidarity, and unity, Vietnam has gained impressive achievements which effectively improved its image in the international arena.

What are Vietnam’s goals for the next decade in terms of building up its soft power capabilities?

Vietnam aspires to achieve comprehensive innovation and extensive international integration, to become a country with modern industries and high average income by 2030, then a developed country with high income by 2045. To reach higher international stature, soft power will play an even more cardinal role, requiring efforts from the entire political system, each enterprise, and each Vietnamese citizen.

Firstly, Vietnam needs to create a systematic and long-term plan to promote soft power. It is also necessary to improve growth quality and labour productivity, and to promote creative industries, thereby improving the competitiveness of the economy as a whole.

At the same time, it is necessary to continue to preserve and promote the diverse and rich values of Vietnamese culture. Concurrently, studies and assessments by experts drawing comments from the community will also pave the way to pick out the unique, remarkable cultural elements for focused investment and development, thereby making great contributions to Vietnam’s socioeconomic development.

Vietnam should also increase its use of soft power in diplomacy. Globalisation is creating ever more complex interdependencies and in this environment, regional and global diplomacy should concentrate on leadership and mediation through softer means.

It will also be necessary to prioritise and focus investment on scientific and technological development to ensure Vietnam’s competitiveness. The creation of high-quality and highly competitive products requires proper appreciation of ICT in building national soft power as well as applying new and innovative technologies in production.

In addition to building and promoting soft power, Vietnam also needs to strengthen its hard power to create synergies, creating “smart power” in the new era to enhance integration and enhance its global strategic and economic position.

The Hanoitimes – Nowadays, in a modern world, many traditional crafts have disappeared but still remained artisans who are trying to keep the tradition in every corner of Hanoi’s Old Quarter, helping ensure that the past is not forgotten but preserved as evidence of a city with history of thousands of years.

Once known as the street specialized in supplying high quality metal forging utensils in Hanoi, Lo Ren street (Street of the Blacksmith) now has only one workshop that keeps furnace burning.

The best shopping places in Hanoi’s Old Quarter can be found along narrow alleyways close to Hoan Kiem lake, where you can find retailers that have managed to retain their particular trades for generations.

In the memories of Hanoians, the Old Quarter is not only the representation of Hanoi’s cultural values, but also the concentration of many old trades that were once part of the routine in the capital city.

Nowadays, in a modern world, many tradition crafts have disappeared but there remain artisans who are trying to keep the tradition going in every corner of the Old Quarter, which helps ensure that the past is not forgotten but preserved as evidence of a city with history of thousands of years.

Located on the corner of Hang Dong – Lo Ren street, Hoan Kiem district, a 60-year-old blacksmith is still hammering metal in front of a fiery furnace which lights a street corner.

This is Mr. Nguyen Van Hung, who is preserving the metal-smith tradition left by his father.

Blacksmithing is the craft of working with soot, grease and heavy hammers.

Mr. Hung said that this shop was passed on to his father by his grandfather and now it is his turn to take over.

”My grandfather moved from Nam Tu Liem district to settle down in Lo Ren street with his profession,” said Mr. Hung.

He added that his family’s shop was located down the street for only a few hundred meters but there were dozens of blacksmith shops. In its heyday, Lo Ren street was lit up and kept warm by the flame all year round and noisy with the harsh sound of the hammer.

In sunny or rainy weather, the fire is always burning. Currently, the item he usually makes is tools for concrete chisels.

The most important items of blacksmithing are anvils and hammers.

Especially, Mr. Hung is the only blacksmith left in the street.

”I remain forging not only for earning a living, I want to “keep the fire” for the whole street of Lo Ren. I will be practicing the profession to the last breath. I am proud of that, although this profession is so hard. But most importantly, I myself can live on it with my own passion,” Mr. Hung said.

Products made by Mr. Hung every day.

Over the years, Mr. Hung has not found a disciple who is dedicated to pass on his valuable experiences.

”There are also many people who want to learn the job, but they give up after only a few days. Now that I’m 60 years old, I can’t be doing the job any longer. By the time I stop hammering, blacksmith would remain just… the name of a street ” said Mr. Hung.

Workers unload products at one of Lam Thao Fertilizers And Chemicals’ warehouses. The company shares increased by 10 per cent on Wednesday. — Photo supelamthao.vn

Viet Nam’s stock market ended higher on Wednesday as the VN-Index bounced back in the afternoon session.