Emergent countries & innovation
We hear over and over again that emergent countries are only good at copying technologies created by the Western World but are weak when it comes to innovation. This is inaccurate and easy to prove. You simply need to look at Alibaba for instance, run by Chinese billionaire Jack Ma. But contrary to China, Vietnam is a relatively small country and does not have world leaders in term of technology. However, Amazon, Alibaba and many more are particularly aware of Vietnam’s potential. All these companies try hard to expand in Vietnam where e-commerce industry is booming. Đinh Thị Mỹ Loan, Chairman of the Việt Nam Association of Retailers, said that Vietnamese retailers face great difficulties and challenges and in her mind there is only one solution: Vietnamese retail businesses must increase their creativity and become more innovative.