opportunities and challenges for vietnamese businesses in today’s market economy
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LOGO
Opportunities and challenges for Vietnamese businesses in today’s market economy
GROUP 2
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Group 2
CONTENTS
INTRODUCTION1
OPPORTUNITIES2
CHALLENGES3
CONCLUSION4
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INTRODUCTION
Group 2
At the end of the 20th century, Vietnam fell into a severe recession, the company slowly moved meanwhile the living standard of Vietnamese remained very low .
Before the urgency of the economic environment, politic systems determined to make the country's economy to be the socialism-oriented market one.
Since then our economy has faced many opportunities and challenges namely.
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OPPORTUNITIES
Vietnam has a large population, the percentage of working-age people who are hard-working, creative and be capable of absorbing new technologies but require low salary.
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OPPORTUNITIES
Market economy represents a free and
high competition -> to renovate the
organization and management systems.
=>generates manufacturing forces, creates
a surplus of goods
Economic integration has created an
opportunity country’s resources to
communicate with the out side word
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OPPORTUNITIES
Market economy provides a mechanism of training, selection
and using of the active and efficiently managers meanwhile
eliminating the bad ones.
Market economy offers a free and comfortable business
environment which always protects the customer's rights.
In the trend of globalization, Vietnamese’s business can expand
overseas investment with easier procedures as well as more
freedom
2. Market economy
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Group 2OPPORTUNITIES
Vietnamese’s businesses are able to enlist the international conditions to exploit the economic potential of the country country. Vietnam is rich in natural resources.
3. Attract foreign investment
Vietnam has chance to boost economic integration process in terms of international peace country, political- social stability. This is a very important opportunity to focus economic development and expand of external relations.
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OPPORTUNITIES
Learn how to manage the business of leading, open opportunities for
Vietnamese enterprises to endeavor to raise the production capacity
business.
Acquire advanced technology, modern technology and contribute to
promote faster progress of industrialization and modernization of the
country
Expand exchanges with business in the area.
Access to many different cultures from
which we will have more knowledge about
the habits, their culture
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OPPORTUNITIES
International agencies/media owners
setting up offices in Vietnam
Increase levels of investment
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CHALLENGES
Competition in international market
Competition in the domestic market
Human resources
Technology and infrastructure Competitors
Public institutions
Economics
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CHALLENGES
1. Competition in international marketVietnamese commodities, when accessing to international market, have to compete with those from more developed countries. In a backward agricultural economy that is characterized by the exploitation of natural resources
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CHALLENGES
2. Competition in the domestic marketIn the domestic market, Vietnam has to face with a lot of problem rising from the liberalization of economic sectors in the committed intergration process. Many industrial and agricultural products are less competitive compared with those imported from EU, US, Japan, China and ASEAN
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CHALLENGES3. Human resources
Vietnam has abundant human
resources, but
proportion of skill labor is still very low
Lack of local talent
Potential of Vietnam material is weak, human resources are
generally abundant but not
highly skilled
Due to the level of
knowledge and
business of
fledgling businesses
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CHALLENGES
4. Technology and infrastructure of Vietnam business
Vietnam's technology is backward, weak management capabilities and business capabilities, production capacity.
Infrastructure: The local infrastructure still has a long way to go. For example, the international bandwidth is extremely limited so Vietnamese faces very bigchallenge when they want to access international portals/sites.
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CHALLENGES
High-quality foreign goods to be tax cut, which makes goods of Vietnam is now fiercely competitive
Competitors
In the external economic relations, the highest potential countries may contain negative factors such as curbing or compulsion Vietnam to change direction
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CHALLENGES
Despite of great endeavor of the State, the institution reform in Vietnam is
carried out very slowly. The legal system is inadequate, asynchronous, not
detailed, inconsistent, and not close to the reality so that it is hard to be realized.
There lack fundamental laws of a market economy like law of competition and
law of intellectual copyright. Some laws are irrelevant with the market economy
6. Public institutions
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CHALLENGES
7. EconomicsThe level of economic development,
political and social institutions, culture in different countries
When switching mechanism from a centrally planned to a new method is also the most embarrassing in international competition
The process of economic restructuring has been slow, the pace of reform of strate enterprises is slowand still follows the olds way, the business performance of strate enterprises is limited
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CHALLENGES
The implementation of policies, especially the major economic partners of Vietnam
There are still many problems in improving economic growth, such as productivity, competitiveness, quality of human resources, infrastructure…
Lack of transparency in business environment
At the same time it’s prohibited local companies to attract foreign talents
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CONCLUSION
Vietnam has witnessed fundamental changes during 13 years of
comprehensive reform towards market and the world economy
The Vietnamese Government has realized the need of further
changes to fulfill the task to transform into a market economy,
maintain high and stable economic growth rate, and
comprehensively integrate into the world economy.
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LOGO