Strategic marketing approach

Attending the second session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan, he raised Vietnam’s point of view on ensuring fairness and reasonableness, taking into account the different conditions and levels between countries; ensuring a strategic balance between clean energy transition and global energy security; and developing fair, diversified, highly practical energy transition road-maps in line with market rules. Prime Minister Pham Minh Chinh emphasized that human resources, science, technology, and innovation are the central driving force for the sustainable development of all countries, the key to solving the issue of ensuring both rapid and sustainable growth. He proposed G7 countries and international organizations to strengthen support for developing countries in technology transfer, capacity building in institutions, infrastructure, human resources, governance methods, and building an ecosystem for clean energy development. Prime Minister Pham … [Read more...] about Prime Minister Pham Minh Chinh addresses G7 expanded Summit’s 2nd session

Prime Minister Pham Minh Chinh speaks at the second session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan. (Photo:VNA) Hiroshima (VNA) – Prime Minister Pham Minh Chinh on May 20 emphasised the importance of a global approach, multilateralism, self-reliance of every country, and extensive international cooperation to realise sustainable development, climate change responses, emission reduction, and energy transition. Attending the second session of the expanded Summit of the Group of Seven (G7) in Hiroshima, Japan, he raised Vietnam’s point of view on ensuring fairness and reasonableness, taking into account the different conditions and levels between countries; ensuring a strategic balance between clean energy transition and global energy security; and developing fair, diversified, highly practical energy transition roadmaps in line with market rules. Chinh emphasised that human resources, science, technology, and innovation are the central driving … [Read more...] about PM Chinh addresses G7 expanded Summit’s 2nd session

Illustrative image (Photo: baochinhphu.vn) HCM City (VNS/VNA) - Companies in Vietnam ranked higher than the global average in taking a strategic, consistent or radical approach to digitalising customer experience and engagement, said Singapore-based financial services group DBS. At 68%, Vietnam ranked second in this area out of the 10 markets surveyed, 4% higher than the global average. The research said that about 63% of Vietnamese companies were satisfied that digital transformation was helping them achieve overall profitability, followed by providing improved customer insight at 61% and overall competitiveness at 57%. More than half said they have been using digital technology in customer service and engagement effectively. The findings also revealed that 35% of Vietnamese companies were in the ‘developing leaders’ category in terms of digitalising their customer engagement, with great potential for high transformation performance down the road. Some 12% were categorised … [Read more...] about Vietnam ranks high in digitalisation: research

VinFast is going public through a tie-up with special purpose acquisition company Black Spade The electric vehicle (EV) arm of Vingroup made its debut on the US stock market by entering a business merger agreement with Black Spade Acquisition Company on May 12. The overseas listing represents a significant milestone, highlighting the company’s determination to establish a prominent presence and solidify its position as a major player in the EV segment, though it is still a loss-making group. Pham Nhat Vuong, chairman of Vingroup, said at its AGM on May 17, “At present, we have completed half of the listing process, with just a few remaining steps to consummate this transformative union.” Addressing the concern of when VinFast will attain profitability, Vuong offered insights into their strategic roadmap. “Previously, our long-term plan entailed enduring losses. However, with the backing of major shareholders, exemplified by our shift away from traditional petrol vehicles, … [Read more...] about No braking for VinFast in quest for superiority

Starting in 2024, when the South Korean government will impose the global minimum corporate income tax (GMT), Samsung estimates that it will be required to pay an additional $400 million in taxes to South Korea. Taking into account the tax incentive period in Vietnam, the total tax difference this group must pay is estimated to be $6.5 billion, according to data released by Samsung Vietnam last month. Clock ticks to shape response to global corporate tax policy, photo Thuy Linh Companies like Samsung are believed to be anxious that the enactment of GMT next year will exacerbate the company’s obstacles, as profits are declining and competition for semiconductor technology is intensifying. According to the Ministry of Finance, Vietnam has approximately 335 projects with registered capital exceeding $100 million, with a focus on the high-tech industry, including Samsung, Intel, LG, Bosch, Sharp, Panasonic, Foxconn, and Pegatron. The total registered investment for these … [Read more...] about Clock ticks to shape response to global corporate tax policy

SYDNEY - Pacific island leaders will meet South Korea's President Yoon Suk Yeol in Seoul on Monday, their third summit in a week with a large economy as the region seeks stronger action on climate change as it becomes a focus of geopolitical power attention. The Pacific islands span 40 million square kilometres of ocean between the United States and Asia, and Western allies have moved to boost their engagement amid concerns over China's security ambitions for the strategic waters and economic leverage among the small island states. Australia's Defence Minister Richard Marles will attend the first Korea-Pacific Islands Summit, his office said on Saturday, adding it would show cooperation between the 18 members of the Pacific Island Forum and South Korea for a secure region. "Australia welcomes Korea's interest in deepening ties with the Pacific, and looks forward to building on our foundation of shared values to promote our mutual interest in a prosperous and resilient Pacific," … [Read more...] about Pacific islands, in spotlight, to push climate change in South Korea summit

Why was Singapore chosen for the return of this event? We always had this willingness to cover the whole Asia market in depth, especially in Southeast Asia. Rodolphe Lameyse, CEO of Vinexposium In 2019, we had a new show in Shanghai, but then all events were halted because of the pandemic. After that, it became very obvious that holding more business meetings in Asia and a show in Southeast Asia was important. Back in 2015, the Southeast Asian market was developing, but it was not that big. However, in the past few years, there has been a shift in the pattern of the wine industry, with numerous wine importers relocating from Hong Kong to Singapore, and the increased traffic of wine and spirits from anywhere to Singapore and vice versa. Singapore is now one of the gateways into Southeast Asia. Its strategic location makes it a hub of regional and global trade and its business model revolves, among other things, around a very open-minded approach to international … [Read more...] about Distinct indicators of growth in wines and spirits

How would you evaluate VinFast’s valuation upon completion of its merger? Marc Iyeki, former head of Asia-Pacific Listings at the New York Stock Exchange VinFast’s proposed merger with a special-purpose acquisition company (SPAC) at a $23 billion valuation, negotiated with Black Spade Acquisition, awaits validation in the public market. VinFast’s SPAC merger occurs amid reduced investor enthusiasm for electric vehicle (EV) companies and the broader market, as well as closer regulatory review of SPAC transactions. This adds a layer of scrutiny to the deal. While startups often grapple with mounting losses during their quest for market share, investors will closely monitor VinFast’s on-year sales growth, which turned negative from 2021 to 2022, although 2022 was a difficult year for the auto industry. In comparison to other EV companies that have gone public, how does VinFast’s valuation stack up? One difference between VinFast and a number of EV counterparts … [Read more...] about Tough journey is just starting for VinFast

Some large tech and data centre investments are veering away from traditional markets Photo: Shutterstock In Hanoi last week, chairman of the Vietnam Software and IT Services Association, Nguyen Van Khoa, emphasised the urgent need for a comprehensive national data strategy to accelerate the country’s digital transformation. Talking at the Vietnam-ASIA DX Summit 2023, Khoa said the strategy would entail a methodological approach and plan for generating, connecting, and utilising data to achieve socioeconomic advancements, supported by workforce readiness, robust data architecture, and effective data governance models. “It will serve as a guiding framework for establishing and harnessing the immense value of digital data within Vietnam’s economy,” he said. Khoa underscored the significance of collaboration between the private sector and governmental entities in driving Vietnam’s digital transformation. “The collaborative endeavours focus on several key areas, such as the … [Read more...] about Data centre appeal poised to expand

BVBank The move, outlined in Decision No.1001/QD-NHNN issued by the SBV on May 26, states that the new English abbreviation for the bank will be BVBank, replacing its previous designation. The adoption of the new abbreviation is in line with the bank's objective of having a concise, easily recognisable, and memorable name. This change aims to enhance the convenience of communication between BVBank and its customers, aligning with its customer-centric approach encapsulated in its slogan Starting with YOU. By securing the approval of the SBV, BVBank has taken a significant step towards becoming more customer-oriented, as it seeks to provide improved products, services, and overall benefits to its clientele. Furthermore, the new name also boosts the bank's international identity, positioning it for greater recognition and presence in global markets. The update reflects its commitment to establishing a strong and cohesive brand image on the international stage. Looking … [Read more...] about BVBank builds stronger identity with new name