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% CONTENTS | ISSUE 319, June 2021 Congratulations on Denmark Constitution Day

COVER STORY: (6-17)

Vietnam’s 100 largest family businesses
contribute a whopping 25 per cent of the
country’s GDP and have an integral role to
play in the development of the private
sector and the economy overall both now
and into the future. With many, large or
small, having been established since the
“Doi Moi” reforms were introduced in
1986, the point has now been reached
when the founders of many family busi-
nesses are looking to hand over the reins
to the next generation. This is no straight-
forward process, however, and their ongo-
ing success and continued role in
development depend of this succession
process being conducted as smoothly and
as successfully as possible.

Editor’s letter . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 3 sTArTUPs

AT A GLANCE The latest from the world of startups . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36
Leading news from the month at a glance . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .4
BANKING & FINANCE
BUsINEss rEPorTs In service of spending E-wallet providers in hot competition . . . .38
Keen for a slice; Reaching top of mind; No luster lost; Journey
to success; Steering out of trouble; The world at their fingertips; ProPErTy
Positive attitudes persist . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .18 Living moves outwards Townships of city outskirts or nearby
a new focus for investors . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .42
ANALysIs
Backing essential AMRO completes annual consultation . . . . . . . . . . . . . .31 CorPorATE NEWs
Land of rising appeal Vietnam has so much for investors . . . . . . . . . . . .32
What’s happening in the world of business . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .46
DIGITAL BIZ
Shopping as an experience E-commerce platforms see benefit in
pursuing digital transformation . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .34
StatisticsUpdated economic figures . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .50

P I C T U R E S B Y T R A N V I E T T U A N , D E S I G N B Y D Z U N G N G U Y E N

V I E T N A M E C O N O M I C T I M E S

EDITOR-IN-CHIEF Dr. Chu Van Lam COMMERCIAL OFFICES DISTRIBUTION CHANNELS • Embassies in Vietnam, cultural centers EMAIL
Vietnam: of countries, and representatives of
SCIENCE COUNCIL HANOI • Via a network of publishers in international organizations in Vietnam. editor@vneconomictimes.com
Prof. Dr. Sc. Nguyen Quang Thai - President, Tel: (84 24) 3755 2060
Prof.Nguyen Xuan Thang, Prof.Phan Van Tiem, Prof.Vu Huy Fax: (84 24) 3755 2046 Vietnam’s 63 cities and provinces, the Overseas:
Tu, Prof. Dao Nguyen Cat, Prof. Hoang Van Cuong, Prof. For Advertising, contact: nationwide postal service, and book Vietnam’s Embassies and/or Commercial HANOI:
Nguyen Trong Hoai, Prof. Truong Ba Thanh, Prof.Tran Ngoc and newspaper distributors in Hanoi Offices in ARGENTINA, AUSTRALIA, CHILE, 4th Floor, 98 Hoang Quoc Viet,
Hien, Prof. Ngo Thang Loi, Prof. Nguyen Mai, Prof. Luong Ms. Pham Huyen and Ho Chi Minh City. CHINA, CUBA, CZECH, EGYPT, EU AND BEL- Cau Giay District,
Xuan Quynh, Prof. Nguyen Dinh Huong, Prof. Nguyen Cong Email: phamthuhuyen@tbkt.vn GIUM, FRANCE, HONG KONG (CHINA), INDIA, Tel:(84 24) 3755 2050, Fax:(84 24) 3755 2058
Nghiep,Associate Prof. Vu Cuong, Associate Prof.Vo Dai Luoc, • Business Class lounges at airportsin INDONESIA, JAPAN, POLAND, SINGAPORE, THE
Associate Prof. Vu Van Phuc, Associate Prof. Truong Thi Minh HO CHI MINH CITY Vietnam, on international flights of Viet- REPUBLIC OF KOREA, UAE, UKRAINE, USA... HO CHI MINH CITY:
Sam, Associate Prof.Nguyen Hong Son, Associate Prof. Bui For Advertising, contact: nam Airlines, hotels and resorts nation- 1/1 Hoang Viet, Tan Binh District,
Tat Thang, Associate Prof. Tran Dinh Thien, Dr.Vu Tuan Anh, Ms. Tu Uyen wide, coffee shops, bars, luxury Tel: (84 28) 3811 7400, Fax:(84 28) 3811 7412
Dr. Vu Thanh Tu Anh, Dr. Nguyen Ba An, Dr. Le Dang Doanh. Email: tuyenp@tbkt.vn restaurants, travel agencies, international Online Magazine:
ENGLISH LANGUAGE EDITORJohn Harding schools, and international hospitals. http://vneconomy.vn www.facebook.com/vneconomy
We would like to sincerely thank the Ministry of Foreign Affairs and all overseas embassies and representative offices of Vietnam for their support and cooperation in the worldwide circulation of our magazine.
ISSN 0868 - 3700 - LICENCE No. 272/GP-BTTTT ON JUNE 26, 2020, PUBLISHED MoNTHLy By THE VIETNAM ECoNoMIC ASSoCIATIoN, PRoDUCED IN VIETNAM AND PRINTED AT TIEN PHoNG PRINTING AND CoMMERCE JoINT SToCK CoMPANy.© ALL RIGHTS RESERVED

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