The past and the Hopeful Future of Vietnam’s Economy

Vietnam has high growth potential. Moreover 65 percent  of population is working age, there is an attractive dosmetic market. Vietnam’s economy has to shift to a market economy to reform the economy – a structural reform needed to modernize the economy. Provetly levels have dropped dramatically. The government allows state-owned companies to diversify their investments. That is one of the easiest ways to increase GDP. The combination between Vietnam and the world is very impressive. It has joined many economic associations and signed trade agreements. Vietnam could expect to increase GDP from TPP and AEC. Vietnam’s eagerness to sign the TPP and restructure the economy to prepare for future competition.
Vietnam ranked 68 out of 144 economies in the Global Competitiveness Index for the period 2014-2015. There is a lot of room to improve, and Vietnam needs to reform otherwise it will face the risk of falling into the middle income trap. Vietnam has advantages in terms of market size, health, primary education and labor market efficiency – but it suffers from infrastructure. Vietnam must move from a low-wage economy to a highly skilled and trained country. Vietnamese enterprises must stick to the global value chain. The Vietnamese government has streamlined the bureaucracy and improved the role of civil society. Integration will require new standards of fair competition and transparency from the government. I believe that if Vietnam can burn the creativity and dynamism of its people, Vietnam should have the opportunity to thrive and take advantage of its integration into the world economy.

Writer: Nguyen Thu Ha (No.06)

Source of the Article: “The past and the Hopeful Future of Vietnam’s Economy” – by Le Dang Doanh

Innovation in Hanoi: The Vuon Co-working Space

In the recent year, we have experienced the raising trend of office renting price. Therefore, it’s quite hard for the start-up companies, small companies with low budget or freelancers who are self-employed to find a suitable and reasonable place to work.

The Co-working Space was born as a result. It is an innovation solution for the above matter. Co-working Space is a kind of space in which group of people can share the workplace, share the values and have independent activities. In the world, the number of share working spaces is growing phenomenon.

Source: The Vuon Coworking Space Facebook

https://www.facebook.com/TheVuonOffice

The Vuon Coworking Space is one of the first Coworking Space business model in Hanoi. The Vuon is located at third floor of Tower “A” of D2 Building in Giang Vo Street, Hanoi. It offers the nice place with outstanding decoration, green atmosphere and high quality infrastructure as well as different functional rooms so that everyone can rent to work, have a meeting, organize the event, training, etc. They also have the working places for the individual which can be used 24/7 without limited of time, high speed internet and full option of office equipments such as projector, printer, scanner.

Being a part of Co-working Space in general and The Vuon in particular, we can get a lot of benefits, for example:

  • Reasonable price for a convenience space
  • Flexibility place rather than than traditional working office
  • Create opportunity to explore new relationship with the people who have the same interests
  • Get valuable support to becme more effective

Therefore, it’s no doubt that the Co-working spaces are the trend and the future of work.

Writer: Le Ngoc Anh (No. 03)

BE INNOVATIVE! NOT ONLY FOR YOUR FIRM, BUT FOR THE WHOLE ECONOMY

Writer: Nguyen Hoang Nam – No.14

Nowadays, in Hanoi, there are hundreds of companies from small ones to very big ones like VinGroup, SunGroup, etc. The competition between companies is very intense, especially for the small firms. Therefore, many firms start changing themselves with some innovation. It could be the innovation in products, processes or other activities like marketing, R&D, etc.  The innovation, of course, will have the good impact to the firm’s performance. It creates the added value to the firms themselves. However, to make the general economy become stronger, these innovative have to not only benefit to the firm itself, but also benefit to the consumers and other firms.

In fact, recently in Hanoi, we can find some start-ups that are not only innovative for their benefit, but also added value for the whole economy. In food and beverage sector, we can easily raise the name of Foody.vn. The founder of Foody is CEO Dang Hoang Minh. It was launched in August, 2012 with the purpose of create a tool to help people to find and rate all the food & beverage stores in Vietnam. The appearance of Foody created a significant trend. After 3 years, Foody had 650.000 downloads and 9.1 million people using every months (65% from mobile and 35% from website). Foody is very successful to build a huge community of users and owners of many stores in Vietnam. Thanks to Foody, now everybody will be easy to find which kind of food or beverage and which restaurants they will prefer. Besides that, for the owners, they can advertise themselves through Foody and also see the feedback from customers to find the way to improve. So in this ecosystem of Foody, Users and Shop Owner, all of them get benefit for their own. This is the way to strengthen the health of the whole economy.

Nowadays, Foody develop some new application like Tablenow or DeliveryNow that can bring more value to customers. There are also  many companies in Hanoi have been developing in different way of innovation such as: Hanoi Creative City, MoMo wallet, etc. All of these start-ups and companies are the key factors to create the innovative economy.

Reference list:

http://ictnews.vn/khoi-nghiep/dang-hoang-minh-tu-hai-rau-thue-den-sang-lap-foody-vn-128989.ict

http://cafebiz.vn/cau-chuyen-kinh-doanh/khoi-nghiep-foody-duoc-rot-von-lan-4-chuan-bi-tan-cong-thi-truong-indonesia-2015072814083247.chn

https://www.foody.vn/ha-noi

 

 

 

 

 

 

 

Introduction about IRD in Vietnam

IRD (The French National Research Institute for Sustainable Development) is an international multidisciplinary organization presenting in approximately fifty countries. It is focusing on research, expertise, training and knowledge-sharing to the benefit of countries and regions that make science and innovation key drivers in their development.

Being in Vietnam since the early 1990s, IRD researchers cooperate with Vietnamese colleagues to build and share original scientific knowledge that will eventually be applied and used for a sustainable development of the countries in the field of social, health, enviromental sciences. Besides that, IRD is also doing the training for students and young researchers and supporting them either financially or through posted researchers, and in assembling multidisciplinary collaborative networks.

There are two main activities of IRD in Vietnam:

  • Scientific Activities: including three major areas
  • Environment and resources: Climate change and natural hazards; Coastal erosion; Ecosystems and biodiversity; Biogeochemical cycles and enviromental pollution; Production and food security
  • Societies: Vulnerability, inequality and growth; Boundaries and social and spatial dynamics
  • Health: Nutition; Health and Environment
  • Partnerships: IRD has established long-term partnerships with the main Vietnamese research and training institutions ( Ministry of Science and Technology, Vietnamese Academy of Science and Technology, many universities,…) as well as the international organizations and agencies in Vietnam ( Agence Universitaire de la Francophonie, WHO, World Bank, UNDP,…)

One of the most impressed activities of IRD in Vietnam for me is the research on coastal erosion problem and mitigation in the Mekong Delta and Hoi An City. As a result of global warming and climate change, the level of the sea is rising significantly and some parts of Vietnam Mekong Delta is sinking in the water. That’s the reason why the research of IRD is very important . Based on that research people can take the timely action to save our land.

Writer: Le Ngoc Anh (No. 03)

IRD in Vietnam- A major scientific referent on development challenges

Source: www.vietnam.ird.fr/content/…/1/…/dépliant_représentation_Vietnam_UK_mail.pdf

IRD France

SMART CITY

The smart city innovation challenge for Vietnam contest

The new contest named “The smart city innovation challenge for Vietnam” was created by the Asian Development Bank and Government of Australia funded Mekong Business Initiative in order to create innovative solutions to Vietnam’s fast-growing cities challenges. This contest invited solutions from around the world. Up to 15 companies with proven solutions to urban challenges will receive assistance expanding into Vietnam. Companies representatives will be fly selected to Vietnam to participate, network and meet the Steering committee for Smart cities and local authorities of cities such as Ho Chi Minh city, Da Nang and Hoi An (Quang Nam). The deadline for application was 18 September 2017.

www.smartcityvn.com

New contest solves problems facing Vietnam’s fast-growing cities through innovation and entrepreneurship

A Smart city innovation for Hang Gai Street (Hanoi)

We choose Hang Gai street to pilot the smart city innovation with the goal to ensure the traditional architecture and standard of living. Hang Gai is located in the old quarter of Hanoi. The street is filled with stores selling silk products which have been operating for many decades. This is the overall solution for Hanoi committee to provide affordable housing for the citizens, water supply networks, strengthen energy efficiency solutions, complete traffic & transportation system, consolidate public security, establish greenery and public space of the street, and also strengthen law enforcement, develop information system, expand healthcare, education, public administration services, and other community services for Hanoi in general.

WRITER: Nguyen Thi Khai Phuong (number 16)

Practice knowledge creation to enhance innovation!

In this article, the authors tried to explore the link between innovation, knowledge creation and the firm’s performance in emerging countries. This study was conducted on 529 Vietnamese firms, and the authors tried to answer to two main questions:

  • Do knowledge creation practices lead to firm innovation?
  • What are the relationships between knowledge creation practices, innovation and firm financial performance?

In order to measure this links, the authors used SECI model (Nonaka’s theory) for the knowledge creation process. Following this model, knowledge is classified in two groups: tacit knowledge (intuitive and unclear) and explicit knowledge (can be expressed with words, numbers). The SECI model is about the dialogue between this two kind of knowledge, and four modes of conversation are identified: socialization (tacit to tacit), externalization (tacit to explicit), combination (explicit to explicit) and internalization (explicit to tacit). The measure of innovation is axed around four main kind of innovation: Product/Process/Organizational/Marketing. Then, they measured the firm’s performance through ROA (return on asset) and average staff’s earning.

The results show a correlation between the practice of knowledge creation and product innovation, organizational innovation and marketing innovation. Also, this study show that only product innovation have a positive impact on the firm’s performance. There is not significant link between firm’s performance and marketing innovation, process innovation and organizational innovation. The practice of knowledge creation does not directly influence the firm’s performance, but when knowledge creation is used to create product innovation, it has a positive impact on the firm’s performance.

Source : Thang Nguyen, Thi Thuc Anh Phan, Mai Thi Tuyet Nguyen International Journal of Business and Management – May 2016. Knowledge Creation, Innovation and Financial Performance of Firms: Evidence from Vietnam.

As a part of the MPIE master, we went to some places where normally, knowledge creation is the core activity: coworking spaces. Coworking is a style of work that involves a shared place and an independent activity. It is also a social gathering of a group of people who shares values and who are interested in the synergy that can happen from working with other people. When we went to the first co-working space, we were surprised because we saw people, alone, with their headphones, in front of their computers. This place was really quiet, and it seems that there is no interaction between people. It was difficult for us to imagine how this kind of place can be a sharing place and how it can create emulation because it was too quiet. But later, we met the founder of another co-working space in Hanoï. His place was designed by an architect and when we arrived, we saw some people talking about their works, playing guitar and sharing a coffee. The founder explains to us that he builds a strong community, based on trust, in order to create interaction between people and to share some knowledge and experiences. In this place, we can find for sure knowledge creation, and so, innovation.

Léa Grimal

The new Hanoi: Opportunities and challenges for future urban development

Writer: Tran Thi Thu Trang / No.19

The article mentions the urban development with the heavy investment from domestic and international organizations and with the efforts to transform and enhance Hanoi as a global city, including Economic industrialization and high-tech clustering; developing the metropolitan fabric such as transportation, housing, commercial places,…

Accordingly, among the innovative activities, I’m quite interested in Hoa Lac Hi-tech park (HHTP) – one of the first projects of the Vietnamese Government with the aim to develop hi-tech industry and national R&D with the total area of 15.5. km2. The main functions of HHTP are Education and Training, Software – R&D – Silicon Valley, General Service area, Residential and office buildings, Hotels and facilities for experts and workers, Entertainment and sports center. HHTP is known as a platform of modern city with full of utility services and the main functional areas as above. The location of HHTP is also quite convenient, 25km from the center of Hanoi and 40km from Noi Bai Airport, next to Hanoi National University and other academic institutions, via Thang Long highway – the longest and most modern highway in Vietnam. In my opinion, with the pressure on the transportation with the huge population in Hanoi which is expected to reach 10 million by 2030, HHTP seems to be a good location for the living with jobs,
utility services, and entertainment with modern technology in a real community. As a result, this could help decrease the environmental pollution, transportation & traffic congestion, land insufficient,… in Hanoi. However, the fact shows that many local Vietnamese, especially parents and students seem to be afraid of living far away from center of Hanoi without any affordable and reliable commuting system. Therefore, HHTP really needs to focus more to develop more higher education projects towards the knowledge economy, to satisfy and attract more people to enjoy their living and working/studying there.

Sources: journal homepage: www.elsevier.com/locate/cities

The new Hanoi: Opportunities and challenges for future urban development

Social entrepreneurs and enterprises

Thanks to the article, I have deeper knowledge about what is the social business, what social enterprises do, what is the target and mission of social enterprises…

I also gain more knowledge about some social organizations, in which I impressed the most is  CSIP. CSIP develops the social entrepreneurship ecosystem and build a strong community of social enterprises in Vietnam and regionally through Inspiring, Empowering and Connecting social enterprises and social entrepreneurs who are solving the social and environmental issues by their sustainable and creative business solutions.

I had 2 times working with CSIP members when I was second-year student at FTU. My club is ENACTUS, which is established and operated with the same target and mission as CSIP. We organized a contest called “FBA INNOVATION CHALLENGE” and invited some CSIPers to be the judge of this competition. It was very meaningful. And the project who won the 1st prize is “STRAW”, which connects handicapped people in Hanoi, and let them make some gifts and handicrafts then sells to the foreigners. Now it is still working

From Change management to Innovation

Innovation and change management interact together. On each stage of innovation process, change management plays a different role to shape or control the idea generation and the implementation in order to achieve change outcomes. Change outcomes are the results of innovation process with change management tool

Writer: Nguyen Pham Thuy Duong (number 05)

WALKING STREAT, AN INNOVATIVE PLACE IN HA NOI

Hanoi is changing. From an unknown city, Hanoi is flipping to another period of time with more development. 2 years ago, Hoan Kiem lake was not crowded, people came here for taking pictures but now it is changing to a very different lake. Management team of this lake decided to build walking street around lake in every weekend. In these days, there are a lot of interesting activities were held. Beside the rule that no bike, no car moving on this road, people also rebuild many traditional games that remind young people about Vietnamese history. Luckily, tourists seem really like those activities. This is a good way to connect people with many different ages.

This picture proposes one typically example. That kids enjoy playing “Ô ăn Quan”. This is a very familier game when I was young. Even now when I go back to my hometown, there are very few kids know how to play this game.
I was so supprised when I saw those kids, who living in big cities, can play together with a very exciting attitude.
I hope this kind of street can open more in other cities such as Da Nang, Ho Chi Minh, Hue… where people can enjoy culture space.
Ha Noi 06/02/2018
Nguyen Que Huu