Vietnamese Businesswomen: Taking Initiative in Business Management

Important Role of Businesswomen
In the national master plan on economic growth, the country takes the ratio of businesswomen in the national economy as an important assessment criterion. Traditionally, women often run a small business in a market or open and manage a store or do as a housewife in their family. The tradition has created favourable conditions for women to join hands in current trade and business activities.

 

Of the total businesswomen in the country, some 40 per cent have run a business for more than ten years. Most of them run a business in small and medium-sized enterprises. In fact, the ratio of bankruptcy in businesses managed by women is often lower than that in businesses under the leadership of men. Women are said to run a profitable business in the countryside and in traditional craft villages... Businesswomen are also men of great learning with 61 per cent are high school and university graduates. Most of them are in the age of between 35 and 54, accounting for 60 per cent of the total. Those in the age of under 35 make up 15 per cent.

 

Accounting for 50 per cent of Vietnam population and around 50 per cent of the national workforce, Vietnamese women take initiative in all social-economic fields. Many of them are important people in the society. At present, Vietnam is taking the lead in Asia in terms of the ratio of female deputies in the parliament with 27.31 per cent. Many women even own powerful groups, which have considerably direct impacts on the national economy. Nguyen Thi Nguyet Huong, representative of the Investment and Development Corporation in Vietnam said: “I feel serious when I start pouring investments in industrial zones. Only when projects are carried out smoothly, will they create more opportunity for thousands of Vietnamese labourers. Efficient operations of projects are a stable source of the local state budget. It is also very difficult to convince investors to believe in women capacity. I realise the problem and I has determined to convince them with my real acts. I have spent much time on studying Vietnam Laws, especially the Vietnam Investment Law. And then I make a brief and understandable report for investors. In addition, we also give them information and better after-investments services. Our purpose is to lay a good foundation for projects so that they can be operated efficiently.

 

Overcoming Difficulties
Due to traditional thought, the majority of women often start their career with small business based on private finance. Their business distribution system is small and limited. In the other hand, businesswomen are always ruled over family and social career, they find hard devote their whole life to the career.

 

Moreover, competitiveness capacity of businesswomen in the market is still weak due to financial difficulties and weaknesses in technology application, management skills and social psychological knowledge. Under the negative impacts of the global economic slowdown and rapid IT application achievements, businesses met with difficulties. Therefore, small and medium-sized businesses, especially businesswomen are in high risk of bankruptcy. Vietnamese businesswomen are facing with global trade liberalisation. Unless they make a breakthrough in business operations, they will be not able to stand firm in the fierce competitiveness.  

 

Ms Hoang Thanh Ha, CitiBank Vietnam General Director for External Affairs said, CittiBank annually holds business forums to honour outstanding businesses. Some 80 per cent of the honoured businesses are women. Businesswomen often meet with difficulties further developing their business scale as their knowledge as well as business management skills is still limited not linked with business community. They also lack support from business community, State and society. Programmes to support women business activities launched by Vietnam Women’s Union and non-governmental organisations mainly focus on poor women in rural areas and ethnic minority women. In fact, businesswomen need more assistance and support to keep up with male ones in the global integration.

 

Despite big challenges, Vietnamese businesswomen are striving their best to stand firm in the market. According to Ms Bach Su Quy, Marketing Manager of South Pacific Travel Company, most foreign businesses said that Vietnamese businesswomen spend less time on taking care of their family, especially their children, who are in need of special care from mothers and fathers. This is the weakness of women. They need their own ways to harmonise career and family’s life.

 

Ms Nguyen Thi Phuong – Vice General Director of Thanh Tai Joint Stock Company said Vietnamese female women have not caught up with IT development. In fact, female women are bad at IT application, as they spend much time on meetings, trading activities and family. However, to be good at IT application is not too difficult. Our company has realised that the importance of IT application in business activity. We are applying advanced technology to gain more profits.

 

Ms Nguyen Bao Thoa, Chief Executive Officer of Ngoc Thien Joint Stock Company said top priority of businesswomen is offered more opportunity to get access to professional training courses. These businesses pay more attention to conditions to approach financial sources, human resources and global market. In addition, businesswomen need more supports for their business activities, including training courses in management skills, marketing approach, advanced IT application and communication skills. With the skills, businesswomen will be more self-confident to stand firm in the competitive market.
Huong Ly