Vietnam is Reigniting the Manufacturing Spark
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Vietnam is Reigniting the Manufacturing Spark

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The Micro, Small, and Medium Enterprises (MSME) segment is a silent strength of almost all economies worldwide. But more often than not, MSMEs are underserved and unserved across parameters, including financial and technical assistance, especially considering the sector’s significant contribution toward GDP. This predicament creates huge challenges for C-suit executives. The increasing need to invest right in digital transformation, meeting employee expectations, and cyber security is combining to make life much more difficult for CFOs across the globe.

Vietnam, a regional manufacturing hub, has been endeavoring to reignite its economy amid slowing global demand due to uncertainties, including recession and the Russia-Ukraine conflict. Vietnam’s central bank has cut its policy rates four times so far this year, and lawmakers have extended a cut in value-added tax. The volatile situation adds to the woes of the CFOs in the country.

However, like almost all other C-suite leaders, CFOs face herculean challenges. They are against unprecedented skill shortages, labor supply, and supply chain challenges. It’s no secret that financial leaders are in dire need of team members who are not only skilled in accounting, auditing, and compliance but also understand data visualization, are flexible thinkers, possess good communication skills, and, most importantly, have a lot of business sense. According to a recent Ernst & Young report, 22 percent of CFOs prioritize transforming how finance talent is recruited, retained, and developed. This issue of CEO Insights Asia is dedicated to the exemplary, forward-thinking CFOs in Vietnam who navigate these challenges successfully.

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