Vietnam needs to work out effective development strategies to increase the country’s competitiveness in the 2010-25 period, speakers said at a seminar on Jan. 27 in HCM City.
Dr Vu Minh Khuong from the Singapore National University , who spoke at the seminar held by the Young Business Association, said Vietnam ’s strengths included organisational practices, communication infrastructure and human development.
Disadvantages include support and related industries, internationalisation of firms, monetary policy and administrative infrastructure.
Khuong noted that Vietnam had good support policies for domestic enterprises, but had not found appropriate business strategies.
“The Government should focus investment in big cities including HCM City because they are driving forces behind the country’s economy,” Khuong added.
Financial sources and quality human resources are two other concerns that needed to be addressed.
Many challenges including globalisation, the rising economy of China and India , technological and scientific development, climate change and energy and natural resources scarcity would affect market competition strategies within and outside the country.
“Strategy makers need to have determination in their decision to increase the country’s competitiveness in the global market,” Khuong said.
He said companies should consider adopting a 5R strategic approach – review, respect, research, record and reform./.
Dr Vu Minh Khuong from the Singapore National University , who spoke at the seminar held by the Young Business Association, said Vietnam ’s strengths included organisational practices, communication infrastructure and human development.
Disadvantages include support and related industries, internationalisation of firms, monetary policy and administrative infrastructure.
Khuong noted that Vietnam had good support policies for domestic enterprises, but had not found appropriate business strategies.
“The Government should focus investment in big cities including HCM City because they are driving forces behind the country’s economy,” Khuong added.
Financial sources and quality human resources are two other concerns that needed to be addressed.
Many challenges including globalisation, the rising economy of China and India , technological and scientific development, climate change and energy and natural resources scarcity would affect market competition strategies within and outside the country.
“Strategy makers need to have determination in their decision to increase the country’s competitiveness in the global market,” Khuong said.
He said companies should consider adopting a 5R strategic approach – review, respect, research, record and reform./.
