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Harvard Professor discusses Vietnam’s development prospects

Hanoi , July 26 (VNA) – Deputy Prime Minister Trinh Dinh Dung and Professor John A.Quelch from Harvard Business School discussed the development prospects of Vietnam during their meeting in Hanoi on July 26.

John A.Quelch, an expert in the field of marketing and branding, said he was optimistic about the development prospects in Vietnam .

Returning to Vietnam after several years, he recognised the country’s remarkable socio-economic achievements, such as a better quality of education, an increasing rate of youngsters using foreign languages fluently, and the growing start-up spirit.

He also expressed his delight at the growing relations between Vietnam and the US , especially the increasing investment from US multi-national groups in Vietnam .

The Professor said Vietnam holds a lot of potential to develop, which requires connectivity between ministries, sectors and localities, as well as a master development plan.

He anticipates that Vietnam could face a number of difficulties in developing traditional industries in the century. He suggested the Southeast Asian country should develop a knowledge-based economy.

To do so, Vietnam needs to develop its education system, especially by improving the quality of tertiary-level education, he said, advising the Government to focus investment in specific universities and sectors such as information technology and the digital industry.

The Professor noted that one of the greatest strengths of Vietnam is that it boasts a long coastline that lies next to important international navigation routes. This offers excellent opportunities for the country to develop a sea-based economy, services and tourism.

Deputy Prime Minister Trinh Dinh Dung and Professor John A.Quelch said Vietnam needs to build national brand names via creating a favourable and attractive business and investment environment.

The US Professor recommended Vietnam put forth training policies and draw high-quality human resources from foreign countries.

The Deputy PM took note of the Professor’s suggestions and highly valued his regular cooperation with Vietnamese ministries, agencies, and localities, especially in business administration, marketing strategies, and brand building.