Quality press can be catalyst for nation’s business growth

June 21, 2023 | 14:00
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Vietnam’s business and investment environment has witnessed significant improvements over the years, thanks to the collective efforts of various stakeholders, including the government, private sector, and press.

Dezan Shira & Associates, which has been active in Vietnam since 2008, has supported and accompanied hundreds of foreign invested projects in the country. While the journey has been profitable for our clients, it has not always been smooth sailing.

Quality press can be catalyst for nation’s business growth
Marco Förster - Head, ASEAN Advisory Unit Dezan Shira & Associates

As Vietnam continues to combat corruption, digitise the public sector, and enhance transparency, the business landscape is bound to experience disruptive changes in the short term. However, we remain optimistic about the country’s trajectory and believe that, in the grand scheme of things, positive progress is being made.

Throughout the years, the press and business organisations have been instrumental in advocating for the needs and ideas of improvement to the government. The press in particular has played a crucial role in shaping Vietnam’s business landscape by openly highlighting the issues faced by investors and businesses and proposing constructive solutions.

Through opinion pieces, interviews, and news articles, the press has provided a platform for stakeholders to voice their concerns and suggest improvements, thereby fostering a collaborative environment for progress.

In addition, rather new and risky approaches here such as investigative journalism have been pivotal in uncovering stories that lead to positive change. By exposing corruption and unethical practices, the press has helped create a more transparent and accountable business environment, which in turn attracts more foreign investment.

Our publishing subsidiary Asia Briefing, which operates Vietnam Briefing, has been vital in spreading a better understanding of Vietnam’s regulatory environment and promoting foreign investments in the country’s various industries and regions.

To further support the foreign business community, business newspapers should continue to engage with stakeholders, including businesses, industry experts, and government officials. By fostering dialogue and collaboration, the press can facilitate the flow of information and ideas, leading to a more conducive business environment.

Allowing us to write guest contributions displays an openness and willingness to make journalism more inclusive to business, especially investment from abroad.

VIR and other business newspapers can enhance their coverage by providing in-depth analysis and reporting on critical issues, such as electricity shortages, slow energy transition, and failed or stalled infrastructure project implementation. By delving deeper into these challenges and exploring potential solutions, the press can play an even more proactive role in shaping the business landscape.

They should also focus on covering emerging opportunities in Vietnam, such as new industries, technologies, and regions. By highlighting these opportunities, the press can help draw more foreign investment and contribute to the country’s economic growth.

Finally, VIR and its peers should invest in building the capacity of their journalists to ensure high-quality reporting and analysis. By equipping journalists with the necessary skills and knowledge, the press can improve its contribution to the business and investment environment in Vietnam.

The press has been a powerful tool in advocating for improvements and uncovering stories that lead to positive change in Vietnam’s business environment. As the country navigates through various challenges and embraces digitalisation, the role of the press will become more critical.

By enhancing collaboration with stakeholders, providing in-depth analysis and reporting, focusing on emerging opportunities, and investing in capacity building for journalists, newspapers can help create a more conducive business environment and support the growth of the foreign business community in Vietnam.

The impact of media on investment The impact of media on investment

Vietnam’s business press has been making contributions to the successful performance of enterprises and experts in the country. However, improvements are needed to meet the growing demands of readers.

By Marco Förster

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