Students supercharge SMEs in Visa and CCVSA’s Financial Literacy programme

The Financial Literacy programme is organised by the Central Committee of the Vietnam Students’ Association (CCVSA) and Visa to encourage students to learn and apply essential financial knowledge. Each year, the programme reinvents itself with new themes and activities to upskill students in financial literacy.

To mark its milestone 10^th anniversary this year, a reality show competition “The Finan-tastic Duo” was created to allow students to experience and solve issues that real businesses face.

The three teams, H2L (partnered with Langplus English Center), MTL Consulting (partnered with Homestay Moc), and TDT (partnered with Urban Circular Space), were shortlisted as the finalists following submissions from more than 300 university students looking to resolve the challenges facing restaurants, hotels, traditional handicraft villages, and many other industries.

In the final, the three teams were provided with one-on-one mentoring by university lecturers that specialise in business. Online training sessions in financial management and public speaking skills were also held for finalists to allow them to perform at their best on the Final Night. They received VND20 million ($811.52) to put their business plans to the test.

H2L scooped the first prize. Realising the potential and challenges in the English education sector, especially in small provinces, the H2L team supported Langplus English Center to jointly develop better education for local people. Langplus English Center has gradually stabilised and has its own business orientation to continue developing in its local area.

Meanwhile, MTL Consulting was awarded the second prize. The MTL Consulting team has helped to build Moc Homestay into an ideal place to stay for domestic and foreign tourists every time they visit Cu Lao Cham while maintaining the area's traditional resort atmosphere of being close to nature and its focus on environmental protection.

TDT won the third prize. The team rolled out a “3 Weeks to Supercharge UCS" strategy to provide the business with development potential in the Vietnamese fashion sector that will help it build a sustainable society by reducing fashion-related waste, creating sustainable fashion products, and reusing clothing to extend its lifespan.

Nguyen Minh Triet, president of the CCVSA said, “Congratulations to the winners of this year’s Financial Literacy Programme. We would also like to thank Visa for their ongoing partnership over the past decade, making it possible for students across Vietnam to acquire key financial knowledge.”

Visa country manager for Vietnam and Laos Dung Dang said, “Visa congratulates all three teams on their tremendous results and the quality of their presentations. Your efforts have brought into focus what this programme is all about by engaging the audience and making finance and money management a joy to learn. We’re proud to have been running financial literacy programmes for the past decade that help to uplift everyone across Vietnam.”

Dung Dang, Visa country manager for Vietnam and Laos

The Financial Literacy programme aims to inspire students to take a serious look at money management and acquire essential financial skills. It is based on Practical Money Skills, a digital repository of learning resources curated by the company’s experts over more than two decades.

This year, the competition was expanded from the perspective of small- and medium-sized enterprises (SMEs), which make up the majority of businesses in Vietnam and the across the region. Students were invited to enhance their partner SMEs by applying skills learned from the Practical Business Skills platform. Utilising freely accessible knowledge and tools, participants showcased the difference that modern business acumen and digital technology can make to actual businesses.

The foundational concepts of money management are transferrable between personal and corporate finance. Understanding them can set one up for a life of security and stability both in their personal and professional lives. Throughout the training with contestants, Visa experts and trainers focused on the basics – which are available on Visa’s Practical Business Skills platform. The results achieved by the teams show how mindful spending and saving can generate a tremendous impact.

Loc Nguyen, a member of the winning team said, “The Financial Literacy programme has been a wonderful learning opportunity for all of us at H2L. More than the valuable VND45 million ($1,825) first prize, we have learnt just how much of a difference basic financial, business, and communications skills can make. I think these lessons and the friendships we made along the way make all of us the winners this year.”

Visa extends partnership with Vietnamese universities to promote Practical Money Skills Visa, the world’s leader in digital payments, is partnering with the Faculty of Finance and Banking of the University of Economics and Business, Vietnam National University (VNU-UEB) to promote financial management skills among Vietnamese students.

10-year partnership in financial literacy programme celebrated Visa, the world’s leader in digital payments, and the Central Committee of Vietnam Students’ Association (CCVSA) on August 23 celebrated 10 years of partnership with the financial literacy programme.

Visa unveils victors in She’s Next Grant Program Digital payment giant Visa announced the winners of its inaugural She’s Next Grant Program in Vietnam last week, reinforcing its commitment to supporting female entrepreneurs in the country.