Day 4: 5.9.19
Today we visited Vina Capital, an asset management and real estate development group and I can confidently say that I learned more about business during this presentation than I have in any class I’ve taken thus far.
The future of Vietnam’s economy is headed towards high tech exports rather than natural resources such as oil, which makes sense given that companies like Glass Egg and II-VI are taking advantage of the rapidly growing tech market. There is an emergence of a supply chain network, which is exciting for industrial engineers all across the globe because it will create opportunities for us to learn from and improve upon the processes involved.
Historically, Vietnam has been heavily reliant on agriculture, but recent years has seen an increase in the “farm to factory movement.” A major issue that Vietnam faces is the productivity of their workforce, as factory worker is ten times more productive than a farmer, which means Vietnam’s economy has more to gain from people living in the city. This doesn’t mean that the rural population is useless because at the end of the day, they are the primary source of sustanance for the entire country. It’s clear that exporting high tech is more profitable than exporting rice, but if agricultural production decreases, then Vietnam will either have to find a way to make farming more efficient or start importing resources. I’m curious to witness whether Vietnam will shift the ratio of their imports and exports as well as the effect it will have on their economy, which will likely provide massive returns if they continue to head towards high tech exports as predicted.
Learning about the Vina Capital Foundation and all the projects they do was heartwarming. The project that stood out to me the most was The Hearing Mission, a sector of VCF that provides exams and hearing aids for disadvantaged children so that they can have better education and more opportunity in the workforce. I lost some of my hearing when I was a child, and it was difficult for me so I can only imagine what the kids here must have to go through and I appreciate their efforts in this area that is often overlooked.
P.S. We ate lunch at a food court and once again the authentic dish was way better than any American version!
