Viet Nam still needs to make more reforms to achieve sustainability in economic growth, five years after implementing Government Resolution 19 on improving the business environment and enhancing national competitiveness. Phan Duc Hieu, deputy director of the Central Institute for Economic Management (CIEM) spoke to Vietnam News Agency about this issue. How do you review the implementation of Government Resolution 19 on improving the national business environment and competition? Resolution 19 started to be implemented from 2014. Since then, the quality of the national business environment has begun to improve according to World Bank (WB) indicators. There are some very good indicators such as the getting electricity indicator at the top 30 at present from around 150th-160th and the indicator of protecting minority investors up to 80th position from being unlisted before. However, Viet Nam has not gained the Government’s goal of becoming among the top four nations in terms of … [Read more...] about VN needs business environment reform breakthrough
What does business management do
This was the main theme of a recently held round-table discussion with the attendance of former Deputy Prime Minister Vu Khoan, Dr Tran Dinh Thien, director of the Vietnam Institute of Economics and Professor Vu Trong Phuc, former director of the Institute of Party History under the Ho Chi Minh National Academy of Politics. Reform is a continuous process Question: After 30 years of Doi Moi, what does Vietnam need to do to move the country forwards on the path of rapid and sustainable development? VU KHOAN: Some people say that it is time for a second round of reform. But I think reform is a continuous process - what was appropriate yesterday may not be relevant today. This is even truer with domestic and global contexts changing rapidly. The Doi Moi reform launched during the 1980s began with a breach of regulations in agriculture seen in the secret allocation of land to farmers. That act was later approved by the Central Committee, which helped change the life of farmers and … [Read more...] about Nhandan Newspaper – What’s next for Vietnam after 30 years of Doi Moi?
As Vietnam’s productivity is one of the lowest in Asia, the “Made in Vietnam” lean management model is considered an effective solution to the country’s productivity issues in the Industry 4.0 era. Nguyen Dang Minh, chairman of the Advisory Board of GKM Lean Institute (GKM Vietnam Co., Ltd.), talked about the creation of the “Made in Vietnam” lean management model and plans for the future. Nguyen Dang Minh talking about his lean management model custom-fit for Vietnam As the head of the research team developing this model, where did you take inspiration from?In 1998, after graduating from Hanoi University of Science and Technology, I studied and worked in Japan for 14 years. At the time, I had the opportunity to work for Toyota, which is considered having the most advanced lean management system in Japan. There I understood the model of the Toyota Production System (TPS) which is the archetype and a shining example of lean manufacturing, and … [Read more...] about Made-in-Vietnam’ lean management model for sustainability
Doing the right things for long-term sustainability Jeremy Rowe, Managing Director of AkzoNobel Decorative Paints of South East Asia and Pacific, was in HCMC earlier this month to launch the "I Love My City" campaign - part of the program Step Towards Greener. This campaign was initiated by AkzoNobel Vietnam as part of its holistic sustainability agenda. In an interview with The Saigon Times Daily, he shared AkzoNobel's views on sustainable business and AkzoNobel's globally-recognized efforts to achieve this goal. Excerpts: - Jeremy Rowe: When we look at the world, we recognize the world is in trouble particularly in terms of environment. We are compelled to do what we can to protect the environment and the community. This is what we at AkzoNobel are doing. When we look at the people we work with and serve, our consumers and suppliers, do they also want us to do the right thing? The answer is yes. So we try to be responsible for water, energy, waste … to make our products and … [Read more...] about Doing the right things for long-term sustainability
Vietnamese and Japanese entrepreneurs agreed that they should bridge cultural differences to do business with each other at a meeting in Ho Chi Minh City on August 12. They spoke about and analyzed some of the differences at the meeting titled "Business Connection Seminar" organized by the CEO Club HCMC and the Japanese Business Association of Ho Chi Minh City at the Sheraton Hotel Saigon. To demonstrate one important difference, Masaki Yamashita, general director of the Bank of Tokyo-Mitsubishi UFJ in HCMC and also JBAH vice chairman, asked the participants to imagine there was one low and one high mountain in front of them, and asked them to choose either to climb. Most of the Japanese businesspeople chose the higher mountain and most of the Vietnamese chose the other. Slow and steady Le Long Son, CEO of Esuhai Company, who has studied and worked for 18 years in Japan, said: "It usually takes Japanese enterprises a long time to negotiate. They only choose a partner when all … [Read more...] about Narrowing Vietnam-Japan culture gap for better business