Financial express

The “Win-Win-Win” formula of branded residences has proven successful By Thanh Van Branded residences are most easily defined as a residential project that is designed, built, managed and operated according to the qua lity standards of a super luxury brand. Those living in branded residences will enjoy all super-luxury services meeting five-star hotel standards or higher. The first branded residential development appeared in the 1920s on New York’s Fifth Avenue, where the Sherry Netherland Hotel operated successfully alongside its own serviced apartments. The branded residence concept did not catch on until the mid-1980s, when Four Seasons sold out its hotel condominiums in Boston. Following Four Seasons, the Ritz-Carlton Hotel Company also entered the market. Currently, Marriott International is the world’s leading developer with projects in 17 countries and territories. Marriott is expanding its overseas investment portfolio. It is worth noting that the branded residence projects are located in prime locations. According to the report “Branded Residences: An Overview” by property experts Chris Graham and Muriel Muirden, the formula for branded residences is “Win-Win-Win”. The tie-up between the property developer owning the prime location, and a luxury hotel brand is the first “Win-Win” step. When a homebuyer decides to invest in branded residences, they will be the third party in the formula. It is clear that homebuyers will be the winners. The expression “Location, location, location!” is commonly used in the real estate industry, which highlights an important factor of property investment. What is a prime location? The question is not difficult to answer: right in the middle of downtown, in the heart of financial centers and surrounded by shopping malls. In this location, property prices likely never fall. According to a Knight Frank report in 2019, prices in prime locations in the world’s top cities for property such as London, Hong …

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The Hanoitimes - Many Vietnamese enterprises do not truly understand the significance of brands or see them as a long-term investment. While Vietnam is beefing up global integration, brand building is a key step to help Vietnamese products compete with their foreign peers. However, there is still a lack of efforts from both enterprises and local authorities in the process of developing and managing brands for local products. Local enterprises introduce products to customers at an international trade fair in Hanoi. Photo: Cong Hung In 2019, the Vietnam brand was valued at US$247 billion, up 5.4% year-on-year, ranking 42nd among the 100 most valuable nation brands, according to Brand Finance. Despite such improvements, many Vietnamese brands have not been heard of by local and international customers. A survey of over 500 enterprises conducted by the Ministry of Industry and Trade revealed brand recognition among customers is still low, as only 20% of the number of enterprises are focusing on brand building and registering their brands in Vietnam. As such, the majority have not considered registering brands in the international market or pay attention to the process of brand management and utilization. Le Tat Chien, deputy director of the Intellectual Property Training and Consultation Center under the Ministry of Science and Technology, said enterprises’ lack of attention to promoting brands abroad is a major issue that restricts their efforts to penetrate foreign markets. Sharing the same view, Deputy Head of the Party Central Committee’s Economic Commission Nguyen Huu Nghia expressed concern that several enterprises are ignoring the necessity of building and managing brands, or they are not taking into account the importance of brands as an instrument in gaining market shares. Vietnamese enterprises do not often advertise their brands on the media or just do it occasionally, so it is not sufficient to leave a deep impression on …

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The Hanoitimes - For banks in Vietnam, data governance is an important step to realize the vision of becoming a leading data-driven bank, said a PwC expert. Vietnam’s banking industry should aim at data governance to promote its growth, according to experts. Dinh Hong Hanh, deputy general director of PwC Vietnam Consulting. “Data governance can be considered as an opportunity to build a well-controlled environment, creating tangible benefits of business, saving capital, facilitating the development of digital banks,” said Dinh Hong Hanh, deputy general director of PwC Vietnam Consulting. “For banks in Vietnam, data governance is an important step to realize the vision of becoming a leading data-driven business, using data as a development platform to meet the requirements of Circular 41, prescribing the capital adequacy ratios in line with Basel II standards, and Circular 13, stipulating the internal control systems, which includes the requirements for an Internal Capital Adequacy and Assessment Process (ICAAP) to implement Basel II’s pillar 2,” said Hanh at a workshop themed “Data Governance - powering control and growth of the data-enabled banking industry” on November 26 in Hanoi. A quick on-site survey was conducted with workshop participants to assess the maturity level of data governance with 33 Bank's management representatives. The result showed 88% of participants agreed that good data governance can help improve competitive capabilities through developing digital banking and advanced analytics. However, most banks are still in the early stages of their enterprise data governance implementation journey. Less than 50% of responses mentioned that their bank has implemented data governance or Data Governance Policies and Procedures as well as developed and determined the role of data stakeholders. Meanwhile, over 66% answered that the bank has not operated the criteria establishment to measure data quality. Only 18% …

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