Attention economy understanding the new currency of business

It slipped one place despite improving its overall score from 68.36 points last year to 69.8 this year, according to the World Bank's Ease of Doing Business 2020 report released Thursday. The report ranks 190 economies around the world based on 10 criteria: starting a business; dealing with construction permits; getting electricity; registering property; getting credit; protecting minority investors; paying taxes; trading across borders; enforcing contracts; and resolving insolvency. This year, Vietnam fared better than several Southeast Asian peers like Indonesia (73rd), the Philippines (95th), Cambodia (144th), Laos (154th) and Myanmar (165th). In Southeast Asia, Vietnam was ranked fifth after Singapore (2nd), Malaysia (12th), Thaialnd (21st) and Brunei (66th). Vietnam has been striving to improve its business environment in recent years. The most significant improvement was made in paying taxes, which jumped 22 places from last year to 109th this year thanks to upgrading the … [Read more...] about Vietnam slips one place in ease of doing business ranking

More than 71 percent of Vietnamese women are actively involved in the labor market, with the ratio of women with university degrees being 5 percentage points higher than men, according to data released at the recent Vietnam Business Forum.  Women account for 48 percent of the workforce in Vietnam. A McKinsey study has found that women play an equal role in the labor market, and will help global GDP increase by $28 trillion by 2025. However, like in many other countries, they are paid less than men in Vietnam, with an estimate putting their wages at 12 percent lower than their male counterparts. These data highlighted the fact that Vietnam is yet to achieve gender parity in the market place. Studies have found that gender inequality is counterproductive for businesses. In fact, promoting gender equality in the workplace will fetch Vietnamese businesses improve their performance and brand awareness, attract talent and become more competitive, experts say. At a workshop on … [Read more...] about Gender equality good for business, Vietnamese firms told

Vietjet has launched direct flights from Hanoi and Ho Chi Minh City to New Delhi, India. With these new routes, Viejet is the first airline connecting the two biggest hubs of Vietnam with the capital of India, the no-frills carrier said in a news release on Monday. On the inaugural flights, passengers received surprise gifts. The Ho Chi Minh City – New Delhi route operates four return flights per week every Monday, Wednesday, Friday, and Sunday, starting from December 6. The flight departs from Ho Chi Minh City at 7:00 pm and arrives in New Delhi at 10:50 pm. The return flight takes off from New Delhi at 11:50 pm and lands in Ho Chi Minh City at 6:10 am. Vietjet operates three return flights per week on the Hanoi – New Delhi route every Tuesday, Thursday, and Saturday, starting from December 7. The flight departs from Hanoi at 7:10 pm and arrives in New Delhi at 10:50 pm. The return flight takes off from New Delhi at 11:50 pm and lands in Hanoi at 5:20 am. India is famous … [Read more...] about Vietjet operates direct flights from Hanoi, Ho Chi Minh City to New Delhi

    Việt Nam’s economy is expected to grow by 6.7 per cent this year. – VNA Photo Danh Lam HCM CITY - The Vietnamese economy is expected to grow at around 6.7 per cent this year, the fastest rate in South East Asia, according to the Institute of Chartered Accountants in England and Wales’ recent Economic Insight: South East Asia report. According to the report, Southeast Asian economies except Việt Nam have seen exports drop in the second quarter of this year compared to the same period last year while Việt Nam’s exports grew albeit slower than in 2018. Its economy grew at 6.8 per cent year-on-year in the first quarter driven by strong manufacturing, steady services and higher agricultural output. However, its economic momentum is expected to trend lower due to reduced Chinese demand for goods and rising trade protectionism. While the escalating US-China trade war could benefit Việt Nam in the short term due to trade … [Read more...] about Việt Nam economy to grow at 6.7%: report

Two months since launching the campaign among 10,000 Vietnamese companies, Software Alliance, also known as BSA, which represents some of the world's largest software makers, said eradicating illegal software across Vietnam is a slow process, especially compared to regional peers. In similar initiatives, companies in Indonesia, the Philippines and Thailand acquired licensed software for roughly 6,000 local computers while the figure in Vietnam remained at just 200, BSA confirmed. It highlighted a corporation in Indonesia that had legalized software for almost 1,000 in-house computers. Meanwhile, tens of thousands of companies in Vietnam have utilized illegal software, with very few CEOs taking charge of the situation, said Tarun Sawney, BSA senior director for Asia-Pacific. "We consider putting public and state data at risk of being hacked as irresponsible. It needs to be stopped," he added. BSA launched its "Eradicating Illegal Software" campaign across Vietnam in October, in … [Read more...] about Pirated software still treasured among Vietnamese businesses