Tạp chí Khoa học Kinh tế

Local economic zones for economic development

Nigel Culkin — 2023-04-17

Research purpose: The paper identifies a framework to strengthen local economic networks in the face of Covid Pandemic and Ukraine war economic shocks and an already politically fracturing global economy as the USA and China re-evaluate their relationship in response to China’s rise.

Research motivation: Economic networks are being destabilised and fractured as geopolitical tensions and Pandemic “Bull Whip” effects drive supply chain disruption, energy price rises and changes in the relative strength of the United States Dollar. To date, different forms of “development structure” have been envisaged (including Export Processing Zones, Special Economic Zones, Free Trade Zones, High Technology Zones, clusters) to strengthen region and country performance. Whilst in a narrow sense instance these have been acclaimed as “successful”, evidence suggests that there is no inevitable linkage that drives business in the nearby locality to grow and benefit from this success, rather these zones can act to displace activity from one location to another, without stimulating the entrepreneurial framework that drives the higher rates of successful innovation and entrepreneurship required for economic progress. This contribution outlines aspects to underpin a framework for collaborative “Local Economic Zones” that enable innovation, entrepreneurship, and economic progress. These Local Economic Zone are typified by anchor firms that drive local activity whilst being themselves strengthened to compete on a regional, pan-regional and global level.

Research design, approach, and method: This research paper combines author experience-based action research with statistical compilation, transliteral modelling and literature review. We focus on opportunities to drive economic progress by understanding what already exists within the locality and then gap filling by (i) providing access to technology, finance and skills development through a local anchor institution, the “entrepreneurial university” that is local in character, but global in outlook and (ii) to enable complementary MSME capability together to support anchor firm competitiveness by providing a low cost solution to MSME access to finance that helps successful MSME’s develop the information infrastructure to enable medium term affordable access to commercial bank and capital market capital. Our vehicle for this is to introduce a Central Bank regulated community currency related to the Local Economic Zone that acts as a limited convertibility “Stable Coin” that supports intra- Local Economic network trade.

Main findings: Opportunities exist to combine driving geo-spatially dimensioned economic growth and development with strengthening that defined economic geography’s economic resilience. Local networks are crucial to foster collaborative working and supply flexibility based upon deep trust. These need to be facilitated by an anchor institution such as an Entrepreneurial University and augmented by improved MSME access to finance. For the latter we propose a Central Bank integrated stable coin that only be used within the specific region and that collects the data on MSME transactions that can help transition them into the mainstream commercial banking sector.

Practical/managerial implications: The framework opens the door to raising local growth rates and improving economic resilience within a defined region or country. The framework combines academic research with practical experiences, so offers an implementable framework that is locally driven to (i) strengthen local relationships and trade, (ii) enhance external competitiveness of the anchor firms and (iii) help MSME network members to freedom from finance constraints. Local implementation goes hand in hand with “Regulatory Integration” into Central Bank for the stable coin and a local anchoring institution (we propose the Entrepreneurial University) to grow and nurture network connections.

World’s experience on digital transformation in commercial lending

Phan Đặng My Phương — 2023-04-17

In the context of the industrial revolution 4.0 along with the strong development of information technology, digital transformation in commercial lending of banks around the world has become a mainstream trend and the banking industry in Vietnam is no exception to this trend. Digital lending is changing banks from inside by faster credit decisions, lower cost and more secure loans. From observing the experiences of countries around the world, the article analyzes the benefits and risks in digital lending that may be encountered by commercial banks. On this basis, the author offers appropriate recommendations to comprehensive expansion of digital lending in Vietnam.

Factors impact on the profitability of commercial banks in Vietnam: Empirical evidence in the period of 2006 - 2021

Nguyễn Thành Đạt — 2023-04-17

This study aims to investigate the impact of some factors on the financial performance of commercial banks in Vietnam and the effec of the Covid-19 pandemic on these relationships. Using data from 37 commercial banks in Vietnam for the period from 2006 to 2021, the research results show that banks with greater equity ratio, size and ability to diversify sources of income have higher profitability. On the other hand, banks with high non-performing loan ratio have lower profitability than other banks. When considering these relationships in the context of the Covid-19 pandemic, the impact of bank size and bad debt on profitability is weakened, while the effect of income diversification is amplified during this period.

Designing a set of criteria to evaluate the sustainable development of ocean economy - research in Danang city

Huỳnh Thị Hồng Hạnh — 2023-04-17

As one of the 28 coastal localities in Vietnam, Danang has identified sustainable development of its ocean economy as one of the city's strategic objectives towards 2030 and vision towards 2045. Based on a theoretical approach to the blue economy and local practices, this study proposes a set of indicators to systematically and comprehensively evaluate the extent to which the ocean-based economic sectors of Danang meet the requirements for sustainable development. The proposed set of criteria includes 81 indicators, divided into 5 groups: (1) Ocean economy promotes economic growth; (2) Ocean economy promotes social progress and reduces inequality; (3) Developing high-quality science, technology, and marine human resources to meet advanced international standards; (4) Conserving and sustainably exploiting marine resources, adapting to climate change and sea-level rise; and (5) Sustainable management of marine resources.

The effect of population on economic growth in Vietnam

Trần Thị Thúy Ngọc — 2023-04-17

This writing's aim is to present the findings of research about affects of population on Vietnamese economic development. By using the survey data from General Statistics Office of Vietnam and International Bank over the 2000-2020 period, the findings indicated the positive effect of population growth on Vietnamese economic development on this period. Besides that, economic development is also affected by other factors such as the poor households rate, foreign direct investment, the unemployment rate, in which the poor households rate and the unemployment rate have the substitute effects on the Vietnamese economic development.

Developing a model for factors affecting marketing innovation in small and medium enterprises in Vietnam

Nguyễn Ngân Hà — 2023-04-17

Marketing innovation is essential for small and medium enterprises (SMEs) to gain competitive advantage, sustainable growth, and success in today's ever-changing business environment. The article focuses on developing a theoretical model and proposing a scale for factors affecting marketing innovation in SMEs in Vietnam. Exploratory factor analysis has been employed to evaluate the reliability of the proposed model. The results show that marketing innovation is affected by five factors including leadership, organizational learning, organizational culture, market orientation and relationship network.

Impact of information technology on human resources management in small and medium-sized enterprises in Da Nang

Bùi Thị Minh Thu — 2023-04-17

According to statistics, as of September 1, 2021, the whole city. Da Nang has 31,956 small and medium-sized enterprises, 538 enterprises are in the process of dissolution and more than 2,200 enterprises have temporarily suspended operations due to the impact of the COVID-19 epidemic, the remaining businesses have to implement a series of solutions. Only in a thrifty situation can it continue to operate. There are many different reasons, including lack of management capacity and low level of human resources, especially in the large market of Da Nang city. Recognizing this importance, the study has collected 300 observations in small and medium enterprises and tested through SEM model the relationship of influence of information technology to human resource management at the enterprises. small and medium enterprises in Da Nang city. The conclusion of the study can be drawn that "When information technology has a better response to the tasks of human resource management, the organizational development of the enterprise will also be better".

Exploring customers’ mobile banking experience: The case of Vietnam joint stock commercial bank for industry and trade

Nguyễn Thị Bích Thủy — 2023-04-17

The research is conducted with the aim of measuring customers’ mobile banking experience: the case of Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank). The six - component scale was developed from literature review contextualized by specialists and experienced customers. Then, the scale was tested with customer experience in some aspects: Cognitive, Sensory, Physical/behavioural, Social and Affective dimensions. The research is also to determine the specific level of customers’ experience when they used Vietinbank mobile banking. Managerial implications of these findings are also discussed further.