Price Waterhouse Cooper’s (PwC) 2018 Global Economic Crime and Fraud Survey in Vietnam finds that 52% of Vietnamese enterprises had experienced economic crime in the past two years. This is the first PwC survey in Vietnam. According to the survey, this crime rate is higher than the average in Asia-Pacific's 46% and the global rate of 49%. Even though 40% of the asked people said they hadn't encountered any criminals, it's highly likely that the crimes just haven't been exposed yet. The most common crime in Vietnam is embezzlement with 40% votes and bribes and corruption with 36%. 11% of the asked people don't know or don't want to say. About 53% of the criminals in major cases are insiders with 61% of them are low-level or middle-level managers. 32% of the surveyed said they suffered more than USD100,000 in damage not to mention damage to reputation and business relations. Marcus Paciocco from PwC Vietnam said some measurable financial losses included legal costs or actual loss … [Read more...] about BUSINESS NEWS IN BRIEF 21/11
How to promote your small business
Your Excellency Samdech Techo Hun Sen, Prime Minister of Kingdom of Cambodia, Your Excellency Thongloun Sisoulith, Prime Minister of Laos, Your Excellency Prayut Chan-o-cha, Prime Minister of Thailand, Your Excellency U Henry Van Thio, Vice President of Myanmar, Your Excellency Wang Yi, State Councilor of People’s Republic of China, Your Excellency Takehiko Nakao, President of ADB, Your Excellency Lim Jock Hoi, Secretary- General of ASEAN, Your Excellency Joaquim Levy, World Bank Managing Director and World Bank Group Chief Financial Officer, Ladies and Gentlemen, On behalf of the Government of Viet Nam, I would like to welcome all distinguished leaders, delegates and businesses to the GMS Business Summit. For the first time ever, a large scale forum is organized on the occasion of GMS Summit and CLV Summit on Development Triangle Area. Together with all the leaders, I especially welcome the participation of nearly 2600 investors and entrepreneurs of the region and the … [Read more...] about Speech by Prime Minister Nguyen Xuan Phuc at GMS Business Summit
Companies in Vietnam have experienced fierce competition over the last few years, both qualitative and quantitative. Many have been forced to close down while others are still in business but struggling to move forward. The question is how to make a brand not only sustainable but also grow in value in the context of fierce global competition and rapid digitalization. There are many approaches to answering this question. Here I note the three key driving forces for brands: digital transformation, globalization, and brand leadership. In my observation, these forces help grow a company’s brand value if implemented successfully. Customer-centric digital transformation Unlike in the past, customers now have many brand choices for a particular product in Vietnam. Let’s take bakery goods for example. Customers would have previously mentioned Kinh Do in the south or Hai Ha in the north, but today they may name a long list of bakery brands: Top Cake, Tous Les Jours, ABC, … [Read more...] about How best to maintain brand value?
Viet Nam’s tourism industry is expected to maintain a high growth rate this year but remaining sustainable while still achieving such growth rate is a big challenge. Viet Nam News’s Mai Huong speaks to Le Tuan Anh, deputy director general of the Viet Nam National Administration of Tourism’s international co-operation department, about the country’s tourism branding strategy. What is your assessment of Viet Nam’s tourism branding promotion in the past? In 2017, the Politburo for the first time issued a resolution on developing tourism into a spearhead economic sector by 2020 and the National Assembly passed amendments to the Law on Tourism. In the policy system, we have a comprehensive tourism development strategy to 2020 with a vision to 2030, together with regional development plans. The Ministry of Culture, Sports and Tourism also came out with a branding strategy for Vietnamese tourism by 2020 with a vision to 2030. Viet Nam’s tourism slogan, … [Read more...] about Viet Nam promotes creative, high-quality tourism
President Tran Dai Quang (Source: VNA) Hanoi (VNA) – Vietnam wants to promote its investment in Bangladesh, especially in the fields of telecommunications, information technology, agriculture, food processing, garment, oil and gas, consumer goods production, infrastructure development and services, said President Tran Dai Quang. President Quang made the statement in an interview granted to the Bangladeshi press on the occasion of his State visit to Bangladesh from March 4-6 at the invitation of President Mohammad Abdul Hamid. The following is the full text of the interview. Q: Mr President, what is your evaluation of Vietnam-Bangladesh relations? President Tran Dai Quang: Vietnam and Bangladesh have a fine traditional relationship based on historical similarities and values that the two nations have shared in terms of independence, peace, cooperation and development. In history, our countries have always showed mutual solidarity and support. Vietnam was one of … [Read more...] about President: Vietnam wants to promote investment in Bangladesh