Officially established in April 2018, VNPT-IT is a business having dependent accounting and a member of the VNPT. It has the responsibility to research and develop integrated information and communication technology (ICT) solutions to serve VNPT’s customers or independent clients and even foreign ones. This will make VNPT-IT a new pillar in producing software and IT applications of the whole Group, helping it achieving breakthroughs in the period of 2017 – 2025 in order to transform from a conventional telecommunications service provider to a supplier of multi-services, including telecommunications, information technology, and digital services. According to Mr. Ngo Dien Hy, Director of VNPT-IT, the assigned responsibility is truly challenging. To fulfill it, his company will integrate cutting edge technologies like AI, Bigdata, and Cloud into the services to offer more benefits to customers while increasing the competitiveness of VNPT’s products. The company’s … [Read more...] about VNPT targets to be leading digital service provider in Vietnam
Leading digital business transformation
Profit figures mark significant impact of digital transformation
Companies that embrace digital transformation are up to 26 per cent more profitable than their competitors and enjoy up to 12 per cent higher market valuation, according to a recent survey by ManpowerGroup—the leading global workforce solutions company. In the “From C-Suite to Digital Suite” research, ManpowerGroup shares that by 2020, 30 per cent of industry revenue will come from new business models and transforming quickly can make the difference between success and failure. However, C-Suite is not enough to lead through businesses digital transformation. It requires the Digital Suite: a community of digital-ready, analytically-minded, and connected leaders dedicated to creating the necessary culture and capabilities within the organisation to unlock opportunities and drive successful digital transformation. The good news is digital leadership is not a total replacement of the fundamental attributes underlying leadership effectiveness. Instead, 80 per cent of the … [Read more...] about Profit figures mark significant impact of digital transformation
TH true milk drives digital HR transformation
A cow farm of TH True milk. The group is enhancing its human resource (HR) capabilities and leverage real-time analytics for better business decisions. — Photo thmilk.vn TH true milk, one of Viet Nam’s largest fresh milk producers, has gone live with SAP SuccessFactors solutions for human capital management. The move is aimed at helping the company enhance its human resource (HR) capabilities and leverage real-time analytics for better business decisions. The SAP SuccessFactors solutions have been implemented in four companies within the TH Group including TH Food Chain JSC, TH true milk Food and TH true milk, encompassing 5,500 employees within Viet Nam, Russia and the US. The TH Group accounts for some 40 per cent of the market share for fresh milk in Viet Nam. The group’s key products are UHT sterilised milk, pasteurised fresh milk, yogurt and drinking yogurt. The TH Group’s farm is used by researchers and experts working in the dairy sector due to the new … [Read more...] about TH true milk drives digital HR transformation
Digital economy is the future for Việt Nam
Nhân dân newspaper talked to some Vietnamese experts about the advantages of the digital economy in the course of applying the fourth industrial revolution. Nguyễn Bá Ân, secretary general of the National Council for Sustainable Development and Competitiveness Improvement At present many countries in the region have carried out their digital strategy including Việt Nam. But China and Singapore are the two leading nations. In our country, an e-Government system was launched several years ago, but the national system still needs further improvements. More recently, Prime Minister Nguyễn Xuân Phúc signed a decree on advancing the campaign to bring Industry 4.0 to life. But I’m sorry to say there remain many things to be done. When we talk about the digital economy, for many Vietnamese, that economy seems alien. But in real life, the internet of things has penetrated all corners of our socio-economic life. The foundation for … [Read more...] about Digital economy is the future for Việt Nam
BUSINESS IN BRIEF 9/1
Vingroup, T&T to develop urban railway projects in HanoiThe government of Hanoi City has proposed the Prime Minister allow Vingroup and T&T Group to develop three urban railway projects which the city plans to complete by 2025, Tuoi Tre newspaper reports.The two domestic investors will use their capital to make pre-feasibility studies for these projects.When the projects were announced, many investors expressed interest in Hanoi. However, only Vingroup and T&T Group have registered to take part.Both of them proposed implementing the projects in the build-transfer (BT) format. Particularly, Vingroup registered to build the 38.4-kilometer metro line No. 5 which connects Van Cao and Hoa Lac and metro line No. 2 from Tran Hung Dao to Thuong Dinh with a length of 5.9 kilometers. Meanwhile, T&T Group is keen on metro line No. 4 connecting Me Linh, Sai Dong and Lien Ha, and measuring 54 kilometers in length.The two investors said they would use their own finances to study the … [Read more...] about BUSINESS IN BRIEF 9/1
Accelerating Digital Transformation in Vietnam
In conjunction with the spreading of Industry 4.0, digital transformation is now no longer a choice; it is an inevitable development trend for businesses, consumers and society. Digital transformation is changing the game for Vietnam Vietnam is no exception in this regard. The government is steadfast to its pro-business agenda, urging businesses to press ahead with reforms by boosting their innovation and competitiveness. With Vietnam continuing to roll out the red carpet for foreign investors, the foreign direct investment (FDI) sector has generated millions of jobs and contributed greatly to innovation and modernisation, boosting the economy’s growth. The country is currently focusing on improving the business environment and increasing competitiveness, supported by the government’s commitment to innovation. The public and private sectors are joining forces to come up with initiatives to promote Vietnamese start-ups, entrepreneurship, and innovation. … [Read more...] about Accelerating Digital Transformation in Vietnam
BUSINESS IN BRIEF 22/12
Dong Nai attracts $1.3 billion FDI in 2017The southern province of Dong Nai attracted over US$1.3 billion in foreign direct investment (FDI) in 2017, $300 million higher than the set target.According to the provincial industrial zones’ management board, it has attracted 1,733 FDI projects, so far, with total investment of $31.3 billion. Investors from 45 countries and territories have invested in the locality.South Korea is the largest foreign investor in the province, following by Taiwan (China) and Japan.The board said despite laying down stricter conditions for investment projects, FDI capital that poured into the province still increased this year. In particular, disbursement reached $1.1 billion, equivalent to 88 per cent of the total registered capital.In recent years, Dong Nai has given priority to FDI projects using hi-tech, skilled labourers and are environment-friendly.Mai Van Nhon, deputy head of the board, said investors believed in the province’s support for … [Read more...] about BUSINESS IN BRIEF 22/12
BUSINESS IN BRIEF 17/12
Customs signs agreement with banks for e-tax payment The General Department of Customs (GDC) on Tuesday signed a co-operation agreement with six commercial banks to implement a 24/7 e-tax payment scheme.The five local banks are Sacombank, VPBank, HDBank, LienvietpostBank, SCB and the foreign bank is Mizuho Bank Ltd. The e-tax payment through the six banks will be implemented from December 15.Speaking at the signing ceremony, GDC’s Deputy General Director Nguyen Duong Thai said the customs sector was required to upgrade its e-payment portal for the purpose of administrative reform.The e-tax payment would facilitate tax payment anywhere, anytime, reduce time and ensure immediate goods clearance. The customs authority will directly support enterprises to make payment documents from the original data and minimise errors in money transfer procedures.This could help shorten time to complete customs procedures for import-export activities to the average level of ASEAN-4 countries … [Read more...] about BUSINESS IN BRIEF 17/12
Digital banking grows to support new customers
‘Live’ banks, ‘live’ services For Hanoi-based Tien Phong Bank, launching their new digital banking kiosk called LiveBank in 2016 had only one alternative: taking the lead in making use of disruptive technology and offering customers a channel of digital banking services.Available around the clock, endowed with user-friendly functions, and located in residential areas and shopping malls, LiveBank gives its customers easy access to make transactions anytime they want. Dinh Van Chien, deputy general director of Tien Phong Bank (TPBank), said that 80 per cent of customers rate LiveBank as easy to use, with 86 per cent of them willing to employ LiveBank as a channel equivalent to entering a bank branch.“We aim to have at least 100 LiveBank kiosks deployed across the nation next year, on top of the current 40. Digital transactions already account for up to 80 per cent of our total transactions,” said Chien on the sidelines of last … [Read more...] about Digital banking grows to support new customers
Transform or get left behind
Sundara Raj, chief executive officer, PwC's South East Asian Consulting Services, outlines the way forward. Ripe for transformationTechnological disruptions, changing demographics of consumers and growing affluence in the ASEAN region are amongst the key factors driving the need for transformation. As a growing business in ASEAN, you cannot rest on your laurels and say, “Let’s wait for a while.” Because information flows so quickly via multiple channels, consumers in the region now don’t have to wait for new trends from other markets to physically arrive on their shores before reacting.Another driver for business transformation in ASEAN is premised on the fact that the ‘experiences’ of consumers are not always dictated by the specific industry that they interact with – they are often even agnostic to industry. So if as a consumer, you have a good experience dealing with a telco’s call centre, you expect a similar favourable experience … [Read more...] about Transform or get left behind