It was an honor to have our Founder&CEO Mr.Cong-Thang HUYNH deliver the presentation at the primary event on May 2nd, 2024 (Thursday), a hive of insightful discussions and invaluable connections, setting the stage for enhanced collaboration and innovation between Australia and Vietnam.
The DigiFrontiers Forum, an initiative by Australia-Vietnam Leadership Dialogue, Australian Government Department of Foreign Affairs and Trade, and Australian Trade and Investment Commission – Austrade, brought together industry leaders, experts, and innovators to explore the landscape of Australia-Vietnam’s digital future.
Here’s Mr. Thang’s sharing:
“Ladies and Gentlemen,
It is my pleasure to discuss the dynamic economic landscape of Vietnam, a nation poised on the cusp of significant transformation. Today, I will touch upon three pivotal points that encapsulate the challenges and opportunities facing this vibrant country.
The Paradox of a Young Population and SMEs
Vietnam’s demographic dividend is marked by its young population, brimming with potential yet grappling with inexperience. This youthful vigor is a double-edged sword. While it infuses the Small and Medium-sized Enterprises (SMEs) with innovation and adaptability, it also brings to light a stark gap in executive experience and leadership. The challenge for Vietnam is to harness this raw energy and transform it into seasoned expertise that can lead SMEs to not just survive but thrive on the global stage.
Economic Growth vs. Consumption: The Branding Conundrum
Vietnam’s Gross Domestic Product (GDP) has been on an upward trajectory, a testament to its robust manufacturing and export sectors. However, this growth is shadowed by high consumption rates, which raises concerns about sustainability. Moreover, there is a palpable absence of a cohesive brand concept and design that can elevate Vietnamese products from national treasures to global icons. It is imperative for Vietnam to craft a compelling narrative around its brands, one that resonates with international consumers and stands out in the competitive global marketplace.
From Craftsmanship to Innovation: Vietnam as an R&D Hub
While Vietnam may not yet be renowned for its manufacturing prowess due to a lack of experience, it is undeniably skilled in the art of crafting. This intrinsic talent for detailed, meticulous work positions Vietnam uniquely to become a hub for Research and Development (R&D). By pivoting towards R&D, Vietnam can leverage its craftsmanship to innovate, design, and develop new products and technologies that can redefine its role in the global economy.
In conclusion, Vietnam stands at a crossroads. With strategic investments in nurturing leadership within its young workforce, branding its unique products for the global market, and focusing on R&D, Vietnam can transform its challenges into stepping stones for success.
Thank you.”
stay connected with innolab asia
Sign-up and get more business reports, insights and news from us!
