Stay updated, experts urge Vietnamese businesses

Hanoi (VNA) - A seminar on Vietnam’s economic and financial future, outlining opportunities and challenges in corporate financial management in Vietnam, with insights from experts in the field, was held on October 25 in Hanoi.

The seminar was themed “Corporate Financial Management: New Challenges and Opportunities”.

Speakers at the seminar lauded the development of Vietnam, especially in the financial sector, but did note concerns over challenges to come.

“Strong financial management is critical for corporate governance and business success and this requires assurance of high quality human resources in the accounting finance profession,” said Adam Awty, Chief Operating Officer of Commercial for CPA Australia.

Can Van Luc, senior advisor to Chairman of the Bank for Investment and Development of Viet Nam (BIDV), detailed the country’s financial forecast for 2017, including corporate solutions and government policy suggestions.

“The seminar is a good opportunity for businesses to get updated forecasts on key macro-economic indicators. We have major opportunities and challenges lying ahead as part of the country’s economic reforms including integration into the ASEAN Economic Community and the Trans-Pacific Partnership,” said Luc.

Suggestions for improving financial management included stricter investment regulations, better human resources and human capital training and selection, aiming to enhance the competitive ability of the business sector in Vietnam.

Speakers agreed Vietnam’s economy has a positive future, with a good anticipated inflation rate, an increase in exports, service and manufacturing and more foreign direct investment. The stock market has also been on the rise this year, as has the insurance market, both indicating progress for the economy.

The seminar was jointly hosted by CPA Australia and the Hanoi Stock Exchange (HNX).-VNA