Representatives of HDBank, Techcombank and the Education Market Center (Malaysia) shared on the sidelines of the Ho Chi Minh City Economic Forum 2024 on September 25 about the prospects of industrial transformation in Vietnam.
Access to capital
 |
| Mr. Marcin Miller, Strategy Director of HDBank (SOVICO), said that companies in Vietnam that want to transform their industries still face difficulties in accessing investment capital. (Photo: Nguyen Binh) |
Proposing industrial transformation policies, Mr. Marcin Miller, Chief Strategy Officer of HDBank (SOVICO) said that the government can apply a number of mechanisms to support industrial transformation, digital innovation and the implementation of sustainability and green transformation initiatives. “The most important thing is access to capital, because companies in Vietnam still have difficulty accessing capital for investment in transformation,” Mr. Marcin Miller commented.
Therefore, the government, together with the State Bank of Vietnam, can take a number of measures to provide additional funding, possibly in the form of guarantees, low-interest loans or other subsidies for businesses. According to HDBank's strategy director, businesses need to be provided with cash and non-cash incentives, as well as reduced administrative burdens to be able to invest in green transformation and industrial transformation projects.
“The next policy I propose is to focus on education to create the right human resources to implement all the initiatives related to green transformation and digital transformation. So I want to talk about STEM education, vocational education, and related learning programs that we should implement,” Mr. Marcin Miller mentioned.
In Vietnam, it is essential to integrate transformation initiatives into the planning cycle. Therefore, when preparing the socio-economic master plan for the country and its provinces, Vietnam should integrate sustainable development measures into the overall goals set for the economy. That means we should not only focus on GDP growth, but also focus on GDP structure and improving the quality of life of the people.
“ I think if we take all these measures, we can not only keep up with the pace of global development in those areas, but also become a leader in sustainability and industrial transformation in the Asia-Pacific region and possibly globally, ” affirmed HDBank’s strategy director.
Commenting on the role of the banking sector in the city’s industrial transformation, Mr. Marcin Miller said that both the public and private banking sectors play a key role in facilitating access to capital for industrial transformation initiatives. Through cooperation with the State Bank of Vietnam, banks will have access to funding and credit, as well as receive additional incentives to implement the program with a number of foreign development organizations.
Green finance outlook
 |
| Mr. Prasenjit Chakravarti, Director of Strategy and Banking Transformation at Techcombank, emphasized that Techcombank has invested heavily in the past 3-5 years to build digital infrastructure and data for the banking industry. (Photo: Nguyen Binh) |
Sharing about the policy to support Vietnamese enterprises in digital transformation and improving competitiveness, Mr. Prasenjit Chakravarti, Director of Strategy and Transformation of Techcombank said: “Techcombank is one of the leading banks in digital transformation of the financial industry. We have invested heavily in the past 3-5 years to build digital infrastructure and data for the banking industry”.
Techcombank is providing simple digital tools that businesses can use to manage their daily operations, helping them grow their businesses, access a larger ecosystem, and gain more customers.
Regarding the prospect of green finance in Vietnam's banking industry, according to Mr. Prasenjit Chakravarti, green finance will help Vietnam attract more foreign investment and can support the country's economic development in accordance with the green economic growth roadmap with low carbon intensity set by the government.
“In this regard, the banking sector plays a very important role because all investments into the country are mostly through banks. The Government, together with ministries, including the Ministry of Finance and the Ministry of Planning and Investment, are discussing this topic and we expect new policies to support green finance and green growth in Vietnam,” Director of Strategy and Transformation, Techcombank affirmed.
Attracting talent
 |
| Mr. Carmelo Ferlito, Executive Director of the Education Market Center (Malaysia), said that good initiatives will encourage talent development and the government should try to attract the right group of talents to the country. (Photo: Nguyen Binh) |
Meanwhile, according to Mr. Carmelo Ferlito, Executive Director of the Education Market Center (Malaysia), the Ho Chi Minh City government needs to pay attention to reforming the mechanism for protecting, enforcing, developing and supporting ownership rights, especially property rights, and ensuring security for property rights, both physical and intellectual property rights. Good initiatives will encourage talent to develop and the government should try to attract the right group of talents to the country.
“We should not only focus on the story of innovation, artificial intelligence or circular economy, but also pay special attention to industrial transformation in traditional sectors, especially the modernization of agriculture, because agricultural production is the foundation of any sustainable industrial transformation,” said Carmelo Ferlito.
Sharing about the typical model in industrial transformation in Southeast Asia, the Executive Director of the Education Market Center commented that a few decades ago, the Malaysian government implemented a reform, according to which if foreign companies set up their headquarters in Malaysia, they would enjoy special visa incentives and financial benefits such as tax exemptions. The Ho Chi Minh City government can take inspiration from that program and apply it to both foreign and domestic companies.
Source: https://baoquocte.vn/tro-thanh-nguoi-dan-dau-ve-chuyen-doi-cong-nghiep-o-khu-vuc-chau-a-thai-binh-duong-287807.html
Comment (0)