Human resource challenges

Vietnam has made good progress in human development, with an average annual Human Development Index (HDI) growth of 1.36 per cent during the 1990-2018 period. A group of ethnic minority women in the mountainous district A Luoi in the central province of Thua Thien-Hue receive training on making brocade products commercially, as part of a programme by Vietnam Rural Industries Research and Development Institute and USAID aiming to promote sustainable development in the area. VNA/VNS Photo Ho Cau This places Vietnam among the group of countries with the highest HDI growth rates in the world. This is one of the key finding of the 2019 Human Development Report, released on Monday by the United Nations Development Programme (UNDP) entitled “Beyond income, beyond averages, beyond today: Inequalities in human development in the 21st Century.” Addressing the report launch in Hanoi, UNDP Resident Representative Caitlin Wiesen said the 2019 Human Development Report disclosed … [Read more...] about Vietnam makes progress in human development: experts

Nguyen Tuan Anh, CEO of Grab Financial Group Vietnam, talks about strategies to help start-ups expand their markets at a recent event in HCM City (Source: VNA) HCM City (VNS/VNA) - Overcoming human resources problems, understanding local cultures and finding reliable partners are needed for Vietnamese start-ups to “go global,” the CEO of Grab Financial Group Vietnam Nguyen Tuan Anh has said. Speaking at a recent boot camp, a start-up training programme organised by VnExpress.net, Anh said reaching out to the world was not optional but imperative for a start-up to succeed. “You may not go global right away, but you must have a vision to do it in the next five to 10 years. “Vietnamese start-ups must conquer the global playground to increase the value, revenue and profit.” Anh was one of the first employees of the giant ride-hailing service when it entered the Vietnamese market in 2014 on the heels of its success in four other Southeast Asian countries, … [Read more...] about Start-ups must ‘go global’, says Grab’s Vietnam chief

Therefore, the Government of Vietnam has been striving to combat natural disasters by reducing risks and promoting preparation and development for different climate change-related scenarios. These activities have further affirmed Vietnam’s policies on guaranteeing human rights, especially the rights of vulnerable groups in the society. Vietnam actively responds to climate change. (Photo for illustration: baotainguyenmoitruong.vn) It is worth noting that the Government of Vietnam has made a strong political commitment to responding to climate change. At forums on the cooperation on climate change response or during diplomatic meetings, Vietnamese leaders have always emphasized the realization of international commitments and the effective implementation of related international commitments, and wished to coordinate with other countries in the field. Especially at the 74th session of the United Nations (UN) General Assembly in New York (the US) this September, … [Read more...] about Vietnam proactively responds to climate change to guarantee human rights

Vietnam needs to raise the added value of the auto industry Many challenges The Vietnamese auto industry has developed rapidly in the past two years, with some products exported to Laos, Cambodia, Myanmar, and Central America. Data from the Vietnam Register under the Ministry of Transport shows that the output of domestically manufactured and assembled vehicles was 258,733 units in 2017; 258,116 units in 2018 and 131,089 units in the first six months of 2019. However, the domestic automobile industry only operates in a low segment of the manufacturing chain, and depends on production assignments of global automobile groups. Domestic automobile production and assembly have not met the requirements of a real automobile industry, not yet created close cooperation between auto production and assembly businesses or formed a network of large-scale material suppliers and component producers. In addition, car prices remain high compared to other countries in the region while the quality … [Read more...] about Policy change sought to help auto industry compete with imports

Out of the 154 fintech startups, 37 operate in payments, 25 in P2P lending and 22 in blockchain and crypto and remittance, according to a survey by the Banking Technology Development Research Institute (BTI), National University of Ho Chi Minh City, released at a fintech conference in HCMC on Monday. The rapid growth of fintech has transformed the financial and banking sector by offering consumers more convenient products and services. Fintech companies in Vietnam are likely to continue encroaching on the retail market share of traditional banks, with peer-to-peer lending, e-wallets, payment and cashless payments becoming an integral part of everyday life, the report noted. However, areas such as asset management, liquidity management, investment management, insurance, and automated advisory services are still in their infancy, it added. Hoang Cong Gia Khanh, director of BTI, said: "Because 70 percent of Vietnam’s fintech companies are still startups, it will be difficult to … [Read more...] about Vietnam fintech sector in the fast lane