By Minh Ngọc – 10:11 | February 12, 2024
As Vietnam’s economy becomes more deeply integrated into the global system, businesses are confronted with both opportunities and challenges for sustainable development and competitiveness. To maintain success, Vietnamese enterprises must adapt, innovate, and uphold strong values and ethics.
Building a Distinctive and Adaptive Business Culture
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Recent studies show that Vietnam’s business culture has not yet fully defined its core values, nor has it become the internal driving force for national sustainable development as expected by the Party and the State.
However, there is an emerging wave toward sustainable business culture as awareness of corporate values grows, especially among younger generations in the workforce. The longer a business operates and the deeper it integrates, the more likely it is to practice and appreciate business culture. This foundation paves the way for breakthroughs in shaping Vietnam’s business culture.
Take Biti’s as an example. Building on its patriotic campaigns like “Nâng niu bàn chân Việt” (Cherishing Vietnamese Feet) and “Đi để trở về” (Go to Return), Biti’s has now elevated “happiness” as a core value in its strategy. Its 2035 vision clearly states: “To become an Asian brand that cherishes happiness for everyone.”
CEO Vưu Lệ Quyên explained that Biti’s ESG (Environmental – Social – Governance) strategy stems from recognizing that its values align with the national goals of Independence – Freedom – Happiness. “Our ancestors sacrificed their lives for independence and freedom. Biti’s aims to nurture happiness as a contribution to the nation’s prosperity and people’s well-being,” she said.
This vision is reflected in projects such as Happy Biti’s, which emphasizes: “A happy employee makes a happy Biti’s.” The company fosters an open, friendly environment where individuals have independence to pursue passions and strengths, making each working day joyful. Happiness is expected to radiate from employees to their families and communities.
Beyond business, Biti’s is extending this philosophy to society with its Happy School program in Hanoi and Ho Chi Minh City, creating learning environments that help the young generation unlock their full potential—and ultimately the potential of the nation.
Culture Shaped by Integration and Shared Experience
According to Nguyễn Cảnh Bình, Chairman of Alpha Books, business culture is also influenced by political culture. Since the 6th National Party Congress (when Vietnam opened to the world), international knowledge has flowed in, bringing lessons and experiences from FDI companies and returning overseas students. Even SMEs have looked to global corporations as models. Communities of entrepreneurs have emerged, sharing experiences and helping one another develop corporate culture.
“Entrepreneurial culture has made strong strides. We ourselves have immersed in this flow and felt the spirit of Vietnamese business culture. Corporate culture is now amplified by innovation and digital transformation,” Mr. Bình shared.
Creating an Enabling Environment
To make business culture a genuine “soft power” for sustainable national development, breakthroughs must not only come from individual business leaders but also require aligned visions, policies, and actions from government to every participant in the economy.
Experts emphasize that people are the decisive factor. Michael Vu Nguyen, Board Member of AmCham Vietnam and Director of Boeing Vietnam, stressed the need to treat employees as the center, with leadership acting as the driving force of corporate culture. “Leaders must not only expect employees to finish tasks but also give them a mission, support them, especially newcomers,” he said.
Quoting President Hồ Chí Minh: “Culture lights the path for the nation,” PGS.TS. Hoàng Văn Hải, Director of the Business Administration Institute at the University of Finance and Banking, said the unique strength of Vietnamese business culture lies in the people’s flexibility and creativity—traits shaped by centuries of agricultural heritage and unpredictable natural conditions.
Ryu Il Gon, Vice President of Human Resources at Samsung Electronics Vietnam – Thái Nguyên, added that Vietnamese diligence and teamwork, forged during wartime resistance, are invaluable assets. “If harnessed well, these can build healthy corporate cultures and become a distinctive strength of Vietnam’s business culture,” he noted.
Harnessing the Power of People and Policy
Mr. Bình highlighted youth as the key driving force for both business culture and the economy. He urged society to place greater trust in young people and provide open spaces for them to thrive. Political culture and governance, he argued, must be clearer and more transparent, with exemplary pioneers for others to learn from. Entrepreneurial communities should foster mutual learning and cultural development tied to business performance.
“The best training is through practice. Young generations learn from their predecessors while adding globally relevant values to traditional culture, creating a continuous cultural flow,” he recommended.
Mr. Ryu further emphasized that individuals should grow with their companies, companies should grow with the nation, and all must embrace diversity, respect human rights, and seek prosperity alongside suppliers. He also underlined the need for sound government policies to support and respect businesses in this journey.
Toward a Prosperous and Happy Nation
From individuals to enterprises to the government, collective efforts will amplify the strength of Vietnam’s business culture in today’s context. Done well, culture will continue to “light the path” for economic development, guiding Vietnam toward becoming a prosperous and happy nation.