Category Archives: MPIE Summary

Team management – An interesting course

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By Ha Trang Nhung

Thanks to the Master 2 Innovative Project Management Program, we have chance to meet Dr. Corinne MIRAL, a professor & researcher at Nantes University and head of doctoral school. She is very nice and helpful.

During her course, we had chance to experience lots of interesting activities and teamwork. One of the interesting thing is the workshop with Vietnam Laughter Yoga Club. Mrs. MIRAL Corinne has invited them to the class. They explained us the effect of laughing to our health, our spirit and our attitude to life and taught us some basic laughing yoga techniques. We enjoyed it very much and found it really useful because all of us are often stressful because of being overwhelmed with workload during the day time and intensive training program during the evening.

Another interesting activity is team building game, which is very relaxing. And at the same time, it taught us how to be a team leader, how to be a good member in the team.

Thank Master 2 Innovative Project Management Program for bringing to us interesting and valuable experiences!

INNOVATIVE HANOI – KAO QUYNH HUONG

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HANOI IS CHANGING….

Vietnam is continuing to diversify from agriculture. Vietnam is the second largest exporter of rice and agricultural products. However, in recent years, the Government of Vietnam has made reforms in policies, laws, etc. to diversify Vietnam’s manufacturing sectors outside the agricultural sector.

It can be seen immediately in the capital Hanoi, formerly capital of Hanoi as an agricultural country, so the area of rice cultivation, crops of Hanoi is relatively large. However, along with the pace of urbanization, Hanoi has narrowed the area of rice cultivation, applied science and technology to agriculture to remain high productivity, and at the same time to build industrial plants. to diversify production.

Can see the transformation in the general economy of Vietnam and in particular of Hanoi. Hanoi is step by step diversifying its production lines, diversifying its trading partners outside China, the EU, South Korea and the US, diversifying its export products not only rice, which are electronic products, textiles, computers, thick sandals, aquatic products, … This is a welcome step for Hanoi.

With the development of science and technology applied to production, farmers will no longer have to work hard to grow rice, instead, agricultural production will need fewer people and at the same time produce higher yields, food for people and for export, and also create conditions for Hanoi to expand more production areas outside food production such as building factories in electronics, telecommunications, …

The renovation of government policy has changed the face of the capital, making Hanoi become the economic, political and cultural center of the country.

Source:

Name: Kao Quỳnh Hương – Number: 10

How Hanoï has an overview of international technologies and participates in innovation ?

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As the “Vietnam’s science, technology and innovation strategy 2011-2020” article says, Vietnam pays more and more attention to Sciences, Technologies and Innovation. In fact, in May 2016, the government approved the Proposal 844 -on Development of National Innovation and Entrepreneurship Ecosystem Toward 2020- giving to cities the opportunity to develop their innovation ecosystem.

I agree with the article that Vietnamese government give access to innovation in making international partnerships and supporting cities in their steps. Hô Chi Minh, the economic capital of Vietnam is well known for its number of start-ups that increase every year. But what is going in Hanoï ?

In fact, Hanoï is much more innovative that I expected and give a particular attention to sciences and technologies. Indeed, the government provides fund to the University of Science and Technology (HUST) and open its network to realise partnerships between HUST and many different universities. You won’t believe it bu HUST is a member of seven organizations and international university networks, organizes more than 20 international conferences and workshops annually, is part of a variety of international research projects and so on. French universities, ASEAN-UNINET, ASEAN-SEED-Net, South East Asia Technical Universities Consortium, the list of partnerships with foreign universities is broad.

The innovation policy in Hanoï offers to the city the opportunity to develop the innovation. Those partnerships, between universities, means an exchange of students, more facilities to develop the research and teachers from all around the world.

Another example will be the incubator at the Foreign Trade University called FIIS : FTU Innovation and Incubation Space. In fact, this incubator, supported by the government, helps the students to launch their projects, including scientific and technological projects. The best promising projects will be financed (in part) by the incubator. It’s a way for the government to promote innovation but also to push students to innovate in helping them in their ambition. Those initiatives help the country and the capital to develop the economy and promote innovation.

Street vendors in India are really innovative toward self-service technology, what about Vietnam?

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Global summary

This article is about the street vendors informal sector in India and his position about innovation adoption.

This article is divided into 7 section, an introduction, the background of informal street vending, the hypothesis development and operationalization of variables, the methodology of the study, the various findings of the study, a discussion about the findings and finally a conclusion.

The study shows an interested fact, the street vendors are really superior innovation adopters within their communities. For example, a table compares the workers from formal sector with informal street vendors from lower middle class and show that 66.1% of the street vendors have an innovation adoption unlike the traditional earners (only 33%). We have to keep in mind that this statistic study is not about innovation in general terms but only about Self-service technology.

You want discover why? Have a look on the article!”

Analysis of the interest of this article for innovation in Hanoi

Like India, Vietnam is a country where everybody spends a huge amount of time on the street. From this fact, especially in Hanoi and Saigon more and more people take the opportunity to launch their own business as street vendors. Do you think that the trend for street vendors about innovation toward self-service technology is the same in our beautiful country? can you make on interview of a street vendor ?

Doing Business in Vietnam

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Writer: Nguyen Hong Hanh – Number: 07

 

Vietnam is now a developing country and fastly intergrated with other countries. The opportunities for international companies to join the market is very potential. But to make sure Doing Business in Vietnam is on the right way, there are many regulations that companies should know to be competitive. Some important aspects I will mention in this summary is Accounting and Auditing, Human Resources and Employment Law, Banking and Capital Markets, which cover many business activities of every company.

The accounting framework is now fully complete and suitable for Vietnam companies and international companies. There are currently 26 Vietnamese Accounting Standards (“VAS”) and the accounting framework is mainly rules-based accounting rather than a principles-based one. Rules-based accounting is a list of detailed rules that must be followed in financial statement. With a set of rules, the accuracy will increase and the ambiguity will diminished. The accounting period is generally 12 months in durations and audited annual financial statements must be completed within 90 days of the end of the financial year. One thing that the foreign-invested entities must remember that they will be audited by an independent auditing company operating in Vietnam. “VAS” and International Financial Reporting Standards (“IFRS”) have some key differences, such as a number of key accounting standards (regarding financial instruments and impairment of assets) have not been issued yet in Vietnam, so foreign companies may need to examine the rules carefully.

In Employment Law, foreigners working in Vietnam must have a work permit issued by the labour management authority, the maximum duration of a work permit is 24 months. With the population of over 92 million, around 40% of the population is under 25 years of age, Vietnam is expected as a potential market with young generation. Approximately 22% of the population is consider to be trained or skilled, so they have the ability to apply knowledge to work and they are as good as the foreign labour force.

According to Vietnam authorities, a minimum legal capital levels for foreign banks’ branches, finance companies are US $15 million and VND 500 billion respectively. Foreign investors can own more than 30% of the total shares in a local bank. The activities is controlled by the Prime Minister on a case by case basis. Every year, credit instituons and foreign banks’ branches must review and assess the adequacy, validity, effectiveness and efficiency of internal controls. These report shall be submitted to the key stakeholders, the State Bank of Vietnam within 30 days from the end of the fiscal year. With these strict controlling, Vietnam expects companies are followed equally in a fast developing environment.

Vietnam has brought many opportunities not only for local companies but also to companies from all over the world. If business entrepreneurs understand rules carefully, they can make a difference with high quality products.

MTA – the International Precision Engineering, Machine Tools and Metaworking Exhibition & Conference

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Writer of the summary : Nguyen Manh Tung – ID: 17

This article summarizes key points of MTA 2016 and orientations for MTA 2017. MTA is the International Precision Engineering, Machine Tools and Metaworking Exhibition & Conference. In the conference, enterprises exhibited products by many international brands with modern and advanced technologies such as metal cutting and forming machines, metrology, and other supporting systems and tools. There were 177 exhibitors from 19 countries and regions including 4 international group pavilions from Korea, Singapore and Taiwan joining this event. Furthermore, MTA 2016 attracted a huge number of international brands, such as Beijing JingDiao, Emuge, Carl Zeiss, … Lots of domestic organizations participating this event, for example, Bibus Vietnam; Dragon Precision….With the development of technology in terms of precision engineering and manufacturing issues, MTA Hanoi 2017 is planning to focus on concurrent education programs which are innovative community for manufacturers to study, create networks and understand deeply about industry insights and topical debates.

Why it is innovative?

The machinery and equipment are one of the direct elements of the main production process, so the modernization of machinery or technological innovation is very important for each enterprise. An industrial enterprise that wants to survive and grow will need to build a technological innovation plan. Advances in science and technology, innovation in technology will enable the quality of products to create new products, diversify products, increase productivity, increase labor productivity, use rational saving This will increase competitiveness, expand markets, accelerate rapid growth and improve business efficiency. Technology innovation is really the right direction of a potential industrial enterprise. Therefore, MTA is known as an ideal place where businesses present as well as approach the latest technological advances.

Furthermore, It is also a place where customers interact directly with the specialist, where they can meet in the most tangible way. It will be the most efficient bridge for the northern manufacturing industry to seek the supply of machine.

Writer: Nguyen Manh Tung – Number 17

 

Innovation in Medtronic’s Business

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Writer: Phan Le Vu – ID 20

The article gives an overview about the Medtronic covering a wide range of business groups including Cardiovascular, Diabetes, and Restorative Therapies & Minimally Invasive Therapies with six clear missions and 3 main strategies of Therapy Innovation, Globalization & Economic Value. Through the story of Medtronic, the author would like to answer the question “How to accelerate access to care for the many untreated cardiac patients in Vietnam?” based on the analysis the fact of medical sector in Vietnam, and finally to identify treatment opportunities for Medtronic in Vietnam.

Accordingly, regarding the global growth of Medtronic, the strategy called “Dare to C.A.R.E” impressed me strongly. As mentioned in the article, Dare to C.A.R.E is a continuous approach to manage heart and vascular health in local communities, developed by the Heart Health Foundation in 2000. Refer to the diagram in Exhibit 6, you understand that through the Events & Outreach programs (Patient Enters Program – PEP), after making applications for Dare to C.A.R.E, patients shall be screened and then received the results with clear explanation. If, they get no disease, they shall be eligible for screening in five years and if not, they shall be checked for the best treatment option. This program really motivates patients to take action by educating and engaging them to overcome the diagnostic challenges for vascular disease.

Source: https://bschool.nus.edu/cerebration/2015/medtronic2015.pdf

Case Study: Market Development and Innovation in Vietnam (Celebration 2015 – NUS Business School)

current taxes in Viet Nam: opportunities or threats to innovate ?

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Writer of summary – Le Thi Quynh Anh (No:04)Na

 

That article is about the current taxes in Viet Nam: Taxes are a major source of revenue for the state budget. In Vietnam, there are more than 10 taxes with different tax rates. In fact, there are areas in which businesses have suffered from 12 to 15 taxes and fees, resulting in reduced contributions to the state budget. At the same time, Vietnam is one of the countries with income from people on the total income of the society is very high compared to other countries with the same level of income and development level. Together with other economic policies, tax policies can become a tool to support domestic businesses as well as attract international investment. In other words, taxes can become a “competitive tool” at the government level. The government will have preferential tax policies for sectors, occupations, sectors and objects that are encouraged to develop through different taxes or rates.
Therefore, when we set up a business, we need not only to thoroughly research economic policies and laws but also to thoroughly research tax policies to take advantage of and exploit the incentives.
For example, when we want to implement an agricultural project, we will consider high-tech agriculture for export. In this area, we will enjoy preferential value added tax, corporate income tax, natural resource tax, etc. We also enjoy preferential interest rates from banks for this field.
In addition, each country will have different tax policies. In the integration period, many companies earn high profits through their subsidiaries established in the “tax haven” and investment back into Vietnam, profit earned them transferred to the company located in the country level. Low taxes to “spleen” much higher taxes if left in Vietnam.
Finally, the law sometimes has a loophole and tax law is no exception. If the company understands the tax law, it will increase profits by saving the maximum amount of remittances into the state budget.

 

Reference source: https://www.google.com.vn/search?q=c%C3%A1c+lo%E1%BA%A1i+thu%E1%BA%BF+%E1%BB%9F+Vi%E1%BB%87t+nam&rlz=1C1EJFA_enVN782VN782&source=lnms&tbm=isch&sa=X&ved=0ahUKEwiqj6bp1pLZAhVIL48KHYL0AOwQ_AUIDCgD&biw=1366&bih=662#imgrc=Pkmb84VypH2FtM:
Kết thúc cuộc trò chuyện

Changing the lives of poor children – Koto case study

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NGUYEN HOANG LONG – ID: 13

 Innovative management contributes to changing the lives of poor children in the case of KOTO (Hanoi).

    Analysis of the interest of this article for innovation in Hanoi

KOTO is known as one of the strong social enterprises with great influence in Vietnam today. This social enterprise was founded in 1996 by Jimmy Pham in Hanoi. KOTO has become a trusted address for poor and underprivileged children in society, which gives them the opportunity to learn cooking skills to build a solid foundation for the future. KOTO is recognized as one of the first social enterprises to register successfully under the social enterprise registration system, which is registered under the Enterprise Law of Vietnam in 2014. KOTO’s revenue is derived from the profits of two restaurants in Hanoi and Ho Chi Minh City. The profit of this business is devoted to cooking and providing free living services to trainees. In addition, KOTO has established KOTO Vocational Training Center, which is known as one of the non-profit centers with the goal of supporting vocational training for poor children. Specifically, within 24 months, students will learn skills to serve in the field of restaurants and hotels, specialized English and life skills. Moreover, practitioners are also periodically examined for health. KOTO’s trainees are successful in the field of food and they have changed their lives through their hard work and their effort.  KOTO’s efforts are aimed at bringing new life to poor children and it will expand other facilities to increase profitability and achieve humanitarian goals in Vietnam.

                   Jimmy Pham – KOTO Founder and Global Ambassador and KOTO’s trainees.

Source: http://www.koto.com.au/

Writer: Nguyen Hoang Long – ID: 13

 

SOCIAL ENTERPRISE IN VIETNAM CONCEPT, CONTEXT AND POLICIES

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                                     WRITER of the summary : NGUYEN HOANG LONG – ID: 13

It is not difficult to say that there are many issues related to the definition, context and policies of the government in the analysis of social enterprises in Vietnam. Social enterprise is described as one of the special organizations with business activities associated with social objectives.

(Source: Ms. Pham Kieu Oanh, Social Investment in Viet Nam, 2014)

In particular, the profit source of the business is used to reinvest the community, rather than maximizing profits for shareholders or owners. In this country, there are three important historical periods divided, which includes Before 1986, from 1986 to 2010 and from 2010 to date. Different periods of history have led to the different activities and development of social enterprises. In addition, the authors also focus on the difficulties and challenges of social enterprises to adapt to the development of modern society in Vietnam. Recommendations have also been made to create useful premises and suggestions for the long-term development of social enterprises.

Reference lists: 

  1. Article: https://www.britishcouncil.vn/sites/default/files/social-enterprise-in-vietnam-concept-context-policies.pdf

  2. Pham Kieu Oanh, Centre for Social Initiatives Promotion, 2014, Social Investment in Vietnam, Published in: Small Business & Entrepreneurship