Women make inroads into male-dominated market

Women account for 20 percent of Vietnamese entrepreneurs and the proportion is expanding, said Vietnam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc at a forum held in Hanoi on October 23.

Women account for 20 percent of Vietnamese entrepreneurs and the proportion is expanding, said Vietnam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc at a forum held in Hanoi on October 23.

According to the VCCI, more female-led enterprises have survived from the recent economic slowdown than their male-led peers and female entrepreneurs constitute a solid factor of economic growth during the global integration.

Female entrepreneurs are highly valued for their quick-witted and detail-oriented business strategies as well as willingness toward humanitarian activities.

World Bank Country Director for Vietnam Victoria Kwakwa said the female force has contributed to positive progress the nation has achieved since becoming a member of the World Trade Oganisation.

State support in the form of improved business climate and information access will help domestic companies better integrate, she said.

Capacity building and market expansion are two foremost points deciding success amidst growing competition, stated Pham Thi Ngoc Lan from Kien Thanh Co. Ltd, a firm producing handicraft exports.

Of the 680 companies listed on the two national stock exchanges, only 5 percent are under management of female CEOs. Yet, the market cap of these women-led companies accounted for VND 260 trillion  (US$ 11.6 billion ), 20 percent of Vietnam's total market capitalisation.

Some of the biggest firms in Vietnam, like dairy giant Vinamilk (VNM), real estate developer VinGroup (VIC), Refrigeration Electrical Engineering Corp (REE), FLC Group (FLC) and Kinh Bac City Development Share Holding Corp (KBC) are run by female CEOs.

Source:VNA

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