The need for real detail is paramount

June 20, 2024 | 09:53
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The influence of the media on business activities in any country is significant, and offering relevant information can help companies get to grips with market trends, regulatory changes, and economic developments.

VIR asked some leaders and experts in the country to offer their perspectives on what else the media can do to help encourage and promote more business activity in Vietnam.

The need for real detail is paramount
illustration photo/ Source:

Nguyen Tri Hieu, senior financial expert

The need for real detail is paramount

Today’s press has become more open and free, but the disclosure of information is still somewhat limited. This poses positive and negative aspects. The positive aspect is that it can limit information that causes confusion or fake news. On the negative side, the limitation of information will lead to information that is unknown to investors and people, sometimes it might be necessary for them.

Unlike elsewhere, the Vietnamese stock market has not yet been upgraded not due to factors related to scale and liquidity, but largely related to investor ability to access information, especially regarding foreign investors.

Increasing access to information in a transparent manner is one of the issues that needs to be improved, along with promoting information disclosure in English and improving the quality of information disclosed by businesses in the market.

The development of Vietnam’s journalism has come a long way, but I still expect the press to be more proactive in investigating and disseminating information accurately and honestly.

All components need accurate and transparent information, which is the premise for giving correct judgments and decisions. Wise judgments and decisions of each component in society are the prerequisite for the sustainable development of a country.

Bui Bich Lien, CEO, EMcom Investment and Trading JSC

The need for real detail is paramount

Digital transformation and sustainable development are the topics constantly at the center of meetings and events industry conversations, at both traditional media platforms and on social networks.

For smaller businesses like ours to catch the trend, it’s essential to access quick, transparent, and accurate information, and VIR is one of the most trustful sources we have explored here.

This is evolving as more than a trend to become a revolution of eco-friendly awareness in business standards of practice. Busineses can adapt to the trend by being altruistically eco-conscious, rather than greenwashing.

Last November, we had chance to participate in VIR’s sustainable development conference and was impressed with the event, which was dedicated to the cause and resonated with meeting professionals and attendees alike.

Through the event, we gained many experiences and practical lessons in sustainable development, coupled with digital transformation, to make our business grow better and faster. Thanks to VIR leaders and reporters, and its publications and events, we have reached more potential partners to help us go green and also digitalise together.

Tharabodee Serng-Adichaiwit, general manager Bangkok Bank Vietnam

The need for real detail is paramount

Every day I receive a plethora of news about Vietnam’s development in diverse economic, finance, investment, banking, or trade aspects from many sources, such as Facebook, TikTok, and websites, but the source I never miss every week is VIR. It has greatly enhanced my local knowledge about Vietnam’s economic and investment landscape since the first day I arrived in the country.

With the update of economic information and data about many industries sector including forecast figures as well as comments and idea sharing from many experts in such diverse segments, this has helped me to understand the situation and been a good reference for my business purpose and helpful for me to share to my clients on what is going on and what is going to happen in their industry and how it will impact on their business in Vietnam.

I hope VIR continues to do this good job and can provide more details on forecast of demand and supply in each industry in the table form with more graphics, or even add summaries on the longer articles. This shall make it more productive for readers.

Federico Vasoli, managing partner, dMTV Global

The need for real detail is paramount

Any business landscape thrives on information, especially jurisdictions that are less mainstream, such as Vietnam, which opened to a market economy more recently and whose regulatory and language barriers pose a challenge to foreign investors.

Business leaders and experts regularly offer their insights on VIR, whose articles help to disseminate market trends and rules that inform strategic decision-making.

The impact of media on production and business activities is undeniable. Journalism can expose disruptions, mistakes, even crimes, or highlight regulatory changes that affect operations. Furthermore, positive media coverage can enhance brand reputation and draw in investment.

Lawyers like myself recognise the need for VIR to stay current. Perhaps new sections focusing on legal updates or navigating complex trade agreements would be beneficial. By fostering this dialogue, VIR can solidify its position as a vital partner in Vietnam’s business success story.

Dr. Le Xuan Nghia, Economic expert

The need for real detail is paramount

In the financial markets, information is vital and decisive for short, medium, and long-term strategies, especially for market segment forecasts. Among this, interest rates, including central bank rates and market credit rates, are the most critical factors influencing both the macro and micro levels.

In stock market investments, investors need to focus on financial reports of stocks, especially during reporting periods, and consider stock price volatility, trading volume, liquidity, and trading behaviours of large and foreign investors. Thus, professional analysts are essential for transparent information analysis, particularly for small investors who often lack the necessary information for informed decisions.

In the bond market, particularly for publicly issued bonds, financial reports are less important. Instead, credit ratings are the key information as they reflect the issuer’s ability to repay debts. Investors rely on these ratings to make decisions, with stringent criteria applied to assess the issuer’s repayment capability.

The real estate market is similarly influenced by financial and non-financial factors such as planning, infrastructure, real estate business laws, and project fluctuations. Non-financial factors are highly significant in this market, especially in emerging markets like Vietnam, where they often account for over half of investment decisions.

The monetary market, closely tied to the macroeconomy, plays a central role in the financial market. Information on monetary and credit activities is strictly controlled and closely monitored due to their rapid and broad economic impacts, affecting both internal inflation and external exchange rates, influenced by international markets.

The financial market’s vast information base is crucial for the economy, necessitating large databases for updated information, predictions, and forecasts. The larger the information volume, the better the analysis and forecasting capabilities, enhancing AI technology applications.

Digital media and media agencies should build data warehouses and utilise AI for producing reports, analyses, and organising valuable market-leading discussions. Major newspapers should update and store information in structured databases and use AI for analysis and timely forecasts.

Journalists, through practical observation, often have deeper socioeconomic insights than some experts. Many renowned economic books are authored by journalists, demonstrating that analytical skills and data management will become crucial for future journalism. In the financial market, rumours often reflect reality, indicating that informants analyse and connect vast data.

Le Nha Quan, corporate marketing and communication manager, Pebsteel

The need for real detail is paramount

The press acts as a crucial intermediary between the government and businesses, facilitating the exchange of accurate and timely information regarding production and commercial activities. Press agencies such as VIR play a pivotal role in functioning as official channels for disseminating precise details about business operations and promoting the products and services offered by enterprises.

In an era characterised by an abundance of diverse and rapidly changing information, the strategic diversification of press agencies is not merely a business manoeuvre, but rather a fundamental adaptation to the evolving landscape. These press agencies are proactively engaged in identifying and interpreting prevailing trends, regularly hosting thematic conferences, forums, and networking programmes, and thereby creating avenues for collaboration among businesses.

Media urged to improve for economy Media urged to improve for economy

The media has been playing an active role in shaping a healthier business and investment climate, and supporting the government in formulating sound policies.

By VIR team

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