Vietnam, One IBC® and the adventure to the big sea

2020 is a year of continued success for Vietnamese enterprises, in which the brand One IBC^® - despite experiencing many difficulties of the COVID-19 pandemic: businesses must also reach out to the big sea to regenerate the future and globalization.

The opportunities and challenges

In the process of globalization, Vietnam has stepped up efforts for economic cooperation and linkage with major partners. Notably, our country has signed free trade agreements (FTAs), promoted negotiation, signed agreements on new issues such as digital economy, e-commerce ..., construction and approval of other long-term orientations such as the vision of ASEAN after 2025. In the last days of 2020, Vietnam has UKVFTA Agreement Vietnam - UK to promote economic, trade and investment relations with a leading important partner in Europe. And the good news is that the RCEP Agreement has just been signed, with a scale of 30% of global GDP, which is of big meaning, affirms its determination to develop Vietnam.

During the globalization process, Vietnam has stepped up efforts for economic cooperation and linkage with major partners

Mr. Bui Duc Tue - Operate Director of One IBC^® Co., Ltd. said: The globalization process will open up many great opportunities for the country to develop, create jobs, but also many challenges if we do not have a strong enough internal force. Vietnamese enterprises have conditions to attract investment capital, develop science and technology, expand markets, but will have to compete fiercely with the economies of countries and territories with developed economies such as Singapore, Hong Kong, America, ... while the small and medium-sized enterprises have low technological level and limited financial capacity.

Furthermore, when reaching out to the "big sea", Vietnam's economy will face the challenge of being directly and rapidly affected by economic fluctuations from outside and changes in the regional market as well as in the world: prices, interest rates, exchange rates of currencies, especially countries with great influence; or changes in international flows of goods, finance, investment and, more importantly, are effected and affected quickly if an economic and financial crisis occurs. However, if the business goes through more and more challenges, the business will mature, be more confident and grow stronger.

According to Mr. Tue, in order to have full internal strength and confidence for economic, cultural, educational integration ... Vietnamese businesses need to have strict legal corridors at the same time as appropriate market opening, it will help Vietnamese businessmen create world-class products, services and brands. From there, have conditions to learn and accumulate more experience when approaching advanced science and technology that developed countries are doing, in order to be able to create more products for the home country, to attract more outside investment.

One IBC^® Singapore office is located in One Raffles, a prestigious landmark in the historic center of Singapore

To go is to return

Currently, Vietnam has more opportunities in attracting high-quality FDI when the Chinese market is exposing many risks, especially after the Covid-19 pandemic. Recently, the Government has also continuously organized many programs for trade promotion, attracting foreign investors and domestic encouragement have created an excited atmosphere for the business. In particular, in 2020, Vietnam will continue to adjust the investment law with new changes such as tax regulations, digital economy is a good signal, consistent with the development of the economy. Therefore, there is enough opportunity to believe that the economic growth rate in 2021 will be more positive and higher than that of 2020. At the same time as attracting domestic investment, finding foreign markets, especially in Singapore is also challenged by Vietnamese enterprises.

As an expert in this field, Mr. Bui Duc Tue explains many reasons why Singapore is a place to attract FDI so much. First, the lion island nation has long been considered the economic and financial center of Southeast Asia, with many open-door policies and the famous banks in the world located here, the infrastructure is ranked the most modern in the world. Not only that, the business establishment process in Singapore is also extremely simple, fast, within 1 day, requires no investment capital, and brings high efficiency in business operations. Therefore, to meet the needs of entrepreneurs and investors, One IBC^® Singapore was established, with an office located in One Raffles Tower, a prestigious venue in the historic center of Singapore, the company serving many other services such as consulting on opening a Singapore corporate bank account, helping businesses to register for trademark protection, accounting and auditing countancy Not only that, with the opening of Singapore companies, Vietnamese businesses are also 100% owned by the company, easily opening accounts at reputable banks in Singapore. This will be a lever for the expansion of business overseas, raising the Vietnamese brand name to the world. It can be said that, with so many benefits, preferential policies and exciting business activities, Singapore is a country worth learning for us to develop.

One IBC^® is professional provider in Singapore company formation

And like the boy's journey in the MV Go to Return 5 made by Biti's Hunter x Huong Tram x Tien Cookie, which is a hot album on the Internet during the New Year 2021 and is now very popular with young people. And we are the same, gradually having to change the concept of "going to return", experiencing troubles, overcoming many "obstacles", and being happiest when returning home, as the melancholy feeling of the song Going to return 5: Sometimes it's challenging. Things worthwhile for me won't come easily / How many trips in life. Never hesitated. To return? / To leave is to return / No matter what / To go is to return ".

In conclusion, in the new period, Vietnam is meeting all the internal and external conditions to develop the country more and more strongly. With globalization happening rapidly, opportunities and challenges always appear intertwined and almost equal. Therefore, identifying the right position and power will play a very important role in formulating decisions, policies and strategies that are appropriate for economic conditions. And during the adventure to the sea, One IBC^® will always accompany the business community, nurture aspirations for a mighty Vietnam coming in the near future.