At the invitation of the United Nations Global Compact (UNGC), Mr Nguyen Quang Vinh, Director of the Office for Business Sustainable Development (SD4B) under the Vietnam Chamber of Commerce and Industry (VCCI) and Deputy Director of the National CBC-CSR Project, attended the summit. On the occasion, Mr Vinh is kind enough to grant an exclusive interview with Vietnam Business Forum on the results of the summit. Could you talk about main objectives of this summit? This summit looks into two main goals. Firstly, the summit defined that this was an important time to accelerate the practice of sustainability and corporate social responsibility to head for progressive targets of global integration, a new era of sustainability and close link of business community. Poverty reduction, environmental protection, climate change mitigation and global peacekeeping are defined as urgent tasks in the current complex time. To achieve this goal, leaders need to consider long-term strategy, … [Read more...] about Sustainability – The Core of Business Strategy
Develop business strategy
Business Council for Sustainable Development: Business Orientation and Business leadership
Deputy Prime Minister Nguyen Thien Nhan has recently approved the project to establish Business Council for Sustainable Development sponsored by Vietnam Chamber of Commerce and Industry (VCCI) to assist businesses in implementing orientation and strategy of sustainable development in Vietnam from now to 2020. On this occasion, Vietnam Business Forum's reporter Nam Pham discussed the issue with Dr. Vu Tien Loc, VCCI President. Please tell us the reason to establish Business Council for Sustainable Development? The concept of "sustainable development" started in 1970s. So far, 191 countries in the world have developed sustainable development programmes (also called Agenda 21) nationwide and over 6,500 Agenda 21 of sector and local scales. On August 17, 2004, Vietnam government has approved Strategic Orientation for Sustainable Development in Vietnam. The orientation is a frame strategy including main orientation serving as legal foundation for related ministries, sectors, localities, … [Read more...] about Business Council for Sustainable Development: Business Orientation and Business leadership
The Nature of Restructuring is Changing Business Strategy
While the global economic crisis is not over and the domestic economy is still slowing down; all enterprises, regardless of operating time, ownership models or scales, have to restructure to adapt themselves to a new context to survive and develop. And, when they want to expand or shrink their scales, they will inevitably have to design reform processes in the company of business objectives. The nature of restructuring is changing business strategy, said Dr Pham Thu Hang, General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI), and Director of SME Promotion Centre, in an interview with the Vietnam Business Magazine on corporate restructuring. Thanh Yen reports. Corporate restructuring and economic restructuring have become common concepts in daily business life. However, do you think actual corporate restructuring is strong enough? There are many reasons why companies need a big solution like restructuring. According to statistics, many successful companies in the … [Read more...] about The Nature of Restructuring is Changing Business Strategy
Developers revise strategies to survive
by Le Hung Vong The continued slump in the property market has forced real estate companies to change their mode of investments in order to survive. Hoang Anh - Gia Lai Property JSC, for example, has taken the lead by moving machinery and equipment to Myanmar for construction of a hotel-office building complex. Le Hung, chairman of the company's management board, said they would continue construction of property projects in HCM City that have been partly sold. Other projects would be suspended as the company focuses its efforts on projects in Myanmar. Pointing to a trend in the property market, the Thu Duc House Development JSC said it was ready to launch its first low-cost apartment project. Nguyen Vu Bao Hoang, deputy general director of the company, said the local property market this year would focus on low-cost housing priced under VND15 million per square metre, targeting low-income customers. Hoang said the company had cleared the ground and had received the design … [Read more...] about Developers revise strategies to survive
Wrong business strategies deal strong blow on groupon distributors themselves
VietNamNet Bridge – Hundreds of groupon websites mushroomed in the golden age, but a lot of the websites have shut down quietly, which shows the big problems of the model in Vietnam. Groupon means sale-off channel? … [Read more...] about Wrong business strategies deal strong blow on groupon distributors themselves