"CEO Forum: Boosting Strengths for Businesses in Global Integration" hears of issues surrounding enterprises as integration continues.
The Vietnam Economic Times Group held the “CEO Forum: Boosting Strengths for Businesses in Global Integration” on April 1 in Hanoi.
A range of ideas were forthcoming from both foreign and local business leaders about how enterprises can react to the opportunities and challenges coming from international integration.
National competitiveness was raised as one of the most important issues in Vietnam fully taking advantage of international integration, according to National Assembly Delegate for Ho Chi Minh City Mr. Tran Du Lich. “The problem is not Vietnamese enterprises knowing how to take advantage of international integration but the responsibility of policy makers in improving the investment environment,” he said.
According to Mr. Hoang Xuan Hoa from the Central Economic Committee, enterprises are the key factor in terms of boosting economy via international integration, which creates a larger economic playing field. Foreign direct investment (FDI) also plays an extremely important role in Vietnam’s economy but there still exists an imbalance in development between foreign-invested enterprises and local enterprises and now is the time to create more links between the two for the common good of the country.
Mr. Van Duc Muoi, General Director of the Vissan Group, told the Forum that his company experienced Vietnam’s economic situation both prior to after the economic reform process known as “doi moi” was introduced in 1986. Not enough has been done for the development of enterprises, he said, adding that procurement reform is key to economic development, with it changing from a “management policy” to a “service policy” to garner better results in supporting enterprises.
“Moving deeper into international integration is a brave decision,” according to Mr. Le Phuoc Vu, Chairman of the Hoa Sen Group. He told the gathering that internal management in policy units and at enterprises is crucial if Vietnam wants to compete in larger markets. “There is a level of irresponsibility at both enterprises and government units that slows down economic development,” he said. “Creating international brands from Vietnam is the responsibility of enterprises but cannot happen without support from policy makers.”
Regarding Vietnam’s human resources in the context of international integration, Mr. Phillip Dowler, Head of the Hanoi Campus of RMIT Vietnam told the forum that “There will be greater demand for graduates who can function beyond the boundaries of Vietnam. They will have to have transnational skills and knowledge. That is, they will have to understand how the region and the world’s economies will interact with and impact on Vietnam’s economy, and how best to gain a comparative advantage. Students should be aware of cultural differences to be able to work effectively in a multicultural environment during Vietnam’s integration. They should also learn how to adapt themselves to work in many situations.”