On the morning of May 27 2022, at the Great Hall of Banking Academy, the Vietnam Association for Logistics Manpower Development (VALOMA) in collaboration with the Faculty of Business Administration – Banking Academy successfully organized a seminar with the topic: “Practical Knowledge and Strategies for New Market Entry of Multinational Companies”, aiming to help students update more information about the business environment, improve their practical knowledge of the logistics industry in Vietnam and in the world.

Attending the seminar were representatives of VALOMA, logistics enterprises, teachers and students of the Banking Academy and other universities who are members of VALOMA:

  • On the side of the Organizing Committee
  1. Dang Loi Hoan – Deputy Director of VALOMA’s External Relations Department and General Director of LF Logistics Vietnam – Cambodia
  2. Nguyen Van Ha – Dean of the Faculty of Business Administration – Banking Academy
  3. Representatives of Vietnam Association of Logistics Manpower Development
  • On the side of the guests
  1. Vy Thi Thank Huong – Director of the Northern Branch of LF Logistics Vietnam – Cambodia
  2. Le Thanh Loan – Director of Gatelink Vietnam Co., Ltd
  • Participants: Students and lecturers of VALOMA member schools along with interested guests

Participants, speakers and more than 200 representatives of corporations, lecturers and students participated in the seminar

In the context of advancement in world integration and globalization, Vietnamese enterprises are also gradually expanding their investment to foreign markets. The opportunities and benefits this activity brings to businesses in particular and the Vietnamese economy in general are undeniable. However, how can one enter the international market or which strategy is considered suitable for Vietnamese businesses? Those are the questions that Mr. Dang Loi Hoan – Deputy Head of VALOMA’s External Relations Department shared at the talk.

Sharing of Mr. Dang Loi Hoan at the seminar

He gave a perspective on the entrance and expansion of the market of Vietnamese businesses with many strong case studies such as VinFast, Starbucks, McDonald’s… When entering the automotive business, the first thing VinFast does is participate in the Vietnam Motor Show: they want to position VinFast’s brand as a high-end product, starting from the European market – European standards. In fact, VinFast has been very successful with 3 types of gasoline cars in this market. So why did VinFast decide to sell electric cars in the US market – a difficult market due to Tesla – a giant in the electric vehicle industry? The reason given by him is VinFast’s entry strategy: the US cares a lot about environmental factors, resulting in high priority for clean technology. The number of Vietnamese Americans living in the US is 2,162,610, with California being the first place of entry, where the national spirit is very high.

Starbucks chose the Vietnamese market to develop because this is a potential market with a spending of about USD 1 billion on annual coffee usage. However, up to now, the number of stores is very few and only reaches 2.9% of the market share, the reason being the amount of caffeine in Starbucks is much less than the amount of coffee that Vietnamese people still drink for many years, so drinking Starbucks will feel quite bland. At the same time, Vietnamese people actually have a habit of drinking sidewalk coffee a lot, take away, cheap coffee. Failure due to financial factors, high prices and social factors are the main causes of this failure.

With such an exciting topic, many students’ questions about entering the market or bringing a product to the international market and working in multinational companies… were shared by Mr. Dang Loi Hoan, and Ms. Nguyen Van Ha.

At the same time, in the seminar, the Signing Ceremony of the Cooperation Agreement between two members of VALOMA, LF Logistics Vietnam – Cambodia and the Faculty of Business Administration – Banking Academy took place and the Scholarship Award Ceremony for the distinguished students of the Faculty took place.

The Signing Ceremony of the Cooperation Agreement between VALOMA and the Faculty of Business Administration – Banking Academy

With the signing of this agreement, we hope to bring many new projects, and breakthroughs for the Banking Academy, bringing along the opportunity to share many useful practical knowledge, career guidance and job opportunities for students of the Banking Academy after graduation in the field of logistics.

The seminar brought a lot of practical value to the students in making market entry strategies.

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Learn more about other activities of VALOMA in the Activities tab.

Translated by Pham Phuong Anh  – Trinh Kien