Strategic marketing decisions made at corporate level

The Vietnamese government is focusing on high-value investment. How can high-value foreign direct investment (FDI) in particular support the nation’s economy? Vietnam has over the years successfully transformed into an export-led economy where foreign-invested enterprises (FIEs) create more than 70 per cent of the country’s exports. The manufacturing sector, particularly electronics and textiles and garments, has been the key driver. High value investments cover a broad range of sectors including semiconductors, renewables, electric vehicles (EVs), logistics, data centres, fast-moving consumer goods, and higher education. These are value-added industries poised to take Vietnam to the next level of qualitative growth. Vietnam has over the past 35 years learned and experienced the benefit of establishing a manufacturing supply chain ecosystem. The strategy to focus more on high-value FDI attraction is absolutely the right direction, and it’s commendable. Focusing to encompass … [Read more...] about High-value investment of prime importance to advance

The State Bank of Vietnam (SBV) last week announced additional adjustments to a series of key interest rates, effective from May 25. This move marks the third round of interest rate decreases within a span of less than three months, signifying its resolute efforts in lowering the interest rate landscape, aimed at providing vital support to businesses and stimulating overall economic growth. The SBV’s rate reduction moves cater specifically to existing customers, Photo: Le Toan The recent decision to lower interest rates has garnered praise from industry experts and leaders who believe it to be an appropriate and well-timed move. Le Quang Vinh, deputy CEO of Vietcombank, deemed it a sound decision that is well-aligned with the current economic landscape. “Looking ahead, we anticipate that lending rates will correspondingly decrease as deposit interest rates uniformly decline,” Vinh said. Pham Nhu Anh, CEO of MB, recognises the difficulties faced by the market in … [Read more...] about Rate reductions deemed well-timed

Hanoi's key economic drivers such as investment, exports and consumption should be the focus of further promotion. Hanoi should remain an example for other cities/provinces in socio-economic development. Hanoi from above. Photo: Pham Hung/The Hanoi Times The Government Office released the Prime Minister's conclusion on the direction of the capital's development. The conclusion emphasizes Hanoi's crucial role as the national political-administrative center and an important hub for business, culture, education, science, technology, and international integration. Despite the prevailing challenges faced by the entire country, the city has shown great determination and taken decisive action to successfully contain the Covid-19 pandemic, eventually moving from a state of lockdown and social distancing to a safe and flexible adaptation. "This has enabled the recovery of socio-economic development and ensured social security," the announcement said, adding … [Read more...] about Hanoi to set example in socio-economic development