VNUHCM Journal of Economics, Law and Management

Improving the law on handling workplace sexual harassment in Vietnam from legislative experience in several countries

Uyen Thi Ngoc Nguyen — 2025-03-31

SH in the workplace is a legal violation that infringes on the dignity, health, and fundamental women's rights and should be strongly condemned and severely punished. However, SH behaviours at work are not yet considered a crime in Vietnam. These behaviours are only currently subject to administrative or disciplinary liability despite the severe damage they cause to victims, employers, and society. In addition, some legal provisions dealing with SH behavior in Vietnam are incomplete and need to be improved. Therefore, within the scope of this article, we analyse the legal basis for sanctions on SH in the workplace in several countries around the world, including Vietnam. We then present some limitations and propose recommendations to improve the law on this issue as follows: Firstly, severe criminal sanctions are essential to deter offenders and ensure robust enforcement. Secondly, perfecting the law on handling administrative violations of SH at work in Decree 12/2022/ND-CP. Thirdly, establishing a statistical database on the situation of SH in the workplace and its resolution is crucial. This database would facilitate reporting to international organizations, evaluate the effectiveness of law enforcement on SH prevention, and monitor violations at various levels. Furthermore, Vietnam should establish a Complaints Committee under the provincial labor agency, similar to the model in India, to resolve cases of SH by business owners and cases where domestic workers are victims. Recognizing the significant cultural barrier where Vietnamese victims often remain silent due to fear, shame, job security concerns, retaliation, isolation, and familial impact, strategies to encourage reporting are necessary. These strategies include educating victims about their rights not to be sexually harassed in the workplace and increasing victim compensation by allocating state fines to them.

Improving the legal framework for outbound investment activities in Vietnam: lessons learned from Chinese law

Đúng Trung Nguyễn — 2025-04-15

In the context of global economic development, Vietnam actively encourages investors to engage in overseas investment activities to expand and develop markets. Over the years, investment regulations have been institutionalized and adjusted through various legal documents. The Law on Investment 2020 was introduced to enhance the quality and efficiency of foreign investment cooperation by 2030. At the same time, it aims to ensure consistency with the Fourth Industrial Revolution, which is shaping economic landscapes worldwide. One of the key highlights of this law is the inclusion of new provisions regarding investment incentives and support for both domestic and foreign investors, further facilitating investment activities. Overseas investment is regarded as a fundamental strategy for businesses and the national economy in the era of globalization. It provides multiple benefits, including economic expansion, political influence, and technological advancement. By investing in foreign markets, businesses can diversify risks, access new consumer bases, enhance their competitive edge, and integrate into global value chains. Furthermore, overseas investment fosters knowledge transfer, improves corporate governance, and strengthens international partnerships, ultimately contributing to sustainable economic growth. Within the scope of this article, the authors aim to identify specific challenges related to overseas investment activities, particularly concerning the authority to approve investment policies and the issuance of investment registration certificates. These issues have created specific legal and administrative barriers for investors, limiting the efficiency of investment processes. The article will propose several policy recommendations and legal improvements based on these challenges to facilitate and optimise overseas investment activities. In particular, the analysis will draw comparisons with China’s legal framework, providing insights into best practices that could be adapted to Vietnam’s regulatory environment.

Assessing the soundness of commercial banks in Vietnam using the CAMELS model

Duyen Thi My Phan — 2025-03-31

The study assesses the soundness of Vietnamese commercial banks from 2018 to 2023 using the CAMELS model, incorporating component weights through the entropy method. Unlike the conventional ratio method, this study uses Data Envelopment Analysis (DEA) to assess the management efficiency of banks. The findings show that only one state-owned commercial bank is listed among the ten best-performing banks. A common feature among the top-ranked banks is their strong digital transformation efforts. Furthermore, the study identifies the three worst-performing banks, providing the State Bank of Vietnam with important information to monitor and implement appropriate measures to improve the efficiency of the commercial banking system. Assessing the health of banks is an important task that the State Bank of Vietnam is currently carrying out annually for credit institutions in Vietnam, as stipulated in Circular 52/2018/TT-NHNN. This study has scientific and practical significance, providing managers with insights and methodologies to determine the appropriate weights of CAMELS components. These weights are adjusted according to risk management and financial health assessment of the banking system, in line with specific risk management objectives for each period. By providing a comprehensive analysis, This study has both scientific and practical implications, providing managers with insights and methodological ways for determining the proper weights of CAMELS components.this study not only contributes to the academic field but also provides practical implications for policy makers and bank managers. The study helps them understand the dynamics of bank performance and the impact of digital transformation on bank efficiency. In addition, the study also helps investors invest in suitable stocks and customers choose to use products and services of healthy banks. Identifying underperforming banks allows for targeted intervention, ensuring the stability and robustness of the banking sector. This approach is consistent with the broader objective of enhancing financial stability and promoting a resilient banking environment in Vietnam.

Night tourism products impact on tourists' satisfaction and return intentions - A case study in Nha Trang

Trần Thị Ái Cẩm — 2025-03-31

This article tests five models of night tourism products (specifically: Artistic and Cultural Performances, Health Care Sports, Night Cuisine, Night Entertainment Shopping, and Night tourism) in Nha Trang have an impact on tourists' satisfaction (SHL) and intention to return (YDQL) of domestic tourists when they visite à Nha Trang – Khanh Hoa. By using the methodology of quantitative research, after collecting data from domestic tourists visiting to Nha Trang - Khanh Hoa, there are a sample of 600 valided for analysis. The questionnaire was surveyed between May and July 2024. The article uses confirmatory factor analysis and structural modeling to examine data collected through SPSS 25.0 and AMOS 24.0 software. The results show that all 5 models of night tourism products: Cultural and artistic performances, Health care sports, Night cuisine, Night entertainment shopping, and Night tourism all have a direct impact on tourists' satisfaction and indirectly to intention to return of domestic tourist. Tourists' satisfaction acts as a full intermediary in these relationships. “Night Cuisine” is the top priority factor for domestic tourists when experiencing night tourism in Nha Trang, the “Cultural and artistic performances” factor receives less attention. From there, the author proposes policy implications on developing, diversifying and improving the quality of night tourism products to improve tourists' satisfaction and tourists' intention to return in Nha Trang – Khanh Hoa.

The examination of the correlation between product placement in short-form videos on tiktok and vietnamese young consumer purchase intention

Hoang Duc Sinh — 2025-03-31

With This study examines the relationship between product placement in short-form TikTok videos and the purchase intentions of young Vietnamese consumers, focusing specifically on small and medium-sized enterprises (SMEs) in the food and beverage (F&B) industry. The research investigates how various attributes of product placements—including resemblance, aesthetic appeal, popularity, professionalism, and user interaction—affect consumer purchase intentions by eliciting emotional responses. Emphasizing the importance of emotional engagement, the study seeks to understand the psychological and emotional mechanisms underlying consumer behavior. A mixed-methods approach is employed, incorporating qualitative data collected via online questionnaires. The target sample consists of 256 Vietnamese respondents, selected from Facebook groups, with particular attention paid to the demographic profile of young consumers. Data collection and analysis are guided by robust statistical techniques, including exploratory factor analysis (EFA) and structural equation modeling (SEM), to identify key factors and assess the relationships between product placement attributes and consumer purchase behavior. Central to the research is the exploration of positive emotions triggered by strategic product placements and their potential to enhance purchase intentions. The study aims to provide actionable insights for SMEs in the F&B sector by examining the interaction between emotional engagement and specific product placement attributes. These insights are expected to assist businesses in designing more effective and emotionally resonant social media marketing campaigns. The findings highlight the critical role of emotional engagement in shaping consumer purchase intentions, demonstrating how attributes such as beauty, resemblance, and interaction contribute significantly to the effectiveness of product placements. The study underscores the need for SMEs to leverage these attributes strategically to strengthen consumer connections and drive purchasing behavior. This research contributes to the broader field of digital marketing by offering valuable perspectives on using emerging platforms like TikTok for consumer engagement, with practical implications for enhancing marketing effectiveness in the F&B industry.

Factors affecting individual customers' intention to purchase health insurance on e-commerce

Hàng Lê Cẩm Phương — 2025-03-31

N Nowadays, people pay more attention to their health when life is improved. Health insurance is especially of interest to customers. In recent years, health insurance has been sold online through insurance companies' websites, insurance applications and e-commerce platforms. This makes it easier for customers to access health insurance. However, the current insurance market also has fierce competition between insurance brands. Therefore, increasing customers' intention to buy health insurance in this form is also a focus of businesses. Therefore, this paper aims to explore the factors affecting the intention to purchase health insurance for individual customers on e-commerce. The theoretical model is adapted from the combined technology acceptance model and the theory of planned behavior, while adding perceived risk and trust factor. Structural Equation Modeling (SEM) is conducted on 212 survey samples, the results show that attitudes towards technology, subjective norms and perceived behavioral control, perceived usefulness, perceived ease of use and trust have an impact on the intention to buy in the form of e-commerce and perceived behavioral control has the strongest impact.

Competitive advantage of Vietnam's tuna export in the world market

Xoan Thi Le — 2025-04-22

This study determines export competitive advantages for Vietnam's canned tuna products through Balassa's comparative advantage index from 2007 - 2023. Also, it identifies export competitive advantages by using Michael Porter's diamond model. Research shows that Vietnam has a relatively high comparative advantage in the canned tuna export sector. The factors that create Vietnam's competitive advantage are the ample domestic tuna resources; Abundant, experienced, and cheap local labor resources; has the world's leading tuna processing and export capacity with modern product processing technology, meeting market requirements; Exchange rate management policy is beneficial for exports; As a highly open economy, the signing of trade agreements has helped Vietnam's tuna exports enjoy preferential tariffs in many vital markets in recent years. However, Vietnam's tuna industry still faces many difficulties that are typical of a developing country, which is associated with backward fisheries. To maintain export competitive advantages and enhance its position in the world market to improve efficiency and sustainable development, Vietnam needs many reforms to fisheries in general in the coming time.

The Protect the rights of minors - Experience in some countries and recommendations for Vietnam

Lâm Bá Khánh Toàn — 2025-04-22

Vietnam was the first Asian country to ratify the United Nations Convention on the Rights of the Child in 1989. This ratification obligates the country to "undertake all appropriate legislative, administrative, and other measures" to protect children's rights (Article 4, United Nations Convention on the Rights of the Child, 1989). While Vietnam has enacted various legal provisions related to minors, these regulations remain fragmented. The lack of systematic codification across the Constitution, administrative laws, and criminal and civil regulations has resulted in inconsistencies and gaps in legal protection. This article examines the current Vietnamese legal framework for protecting minors' rights, highlighting existing shortcomings and comparing them with legislative experiences from other countries. By drawing on international best practices, the authors provide recommendations for improving Vietnam's legal system, particularly in light of the recent passage of the Juvenile Justice Law. On November 20th, 2024, the National Assembly of Vietnam enacted the Juvenile Justice Law 2024 which will become effective from January 1st, 2026, except for Article 139, Clauses 1 and 2 of Article 162 of the Juvenile Justice Law 2024 which will come into force from January 1st, 2028. These proposals are essential in advancing a more comprehensive and effective legal framework for child protection. Notably, while Vietnam’s Criminal Code and Criminal Procedure Code have replaced the term "người chưa thành niên" (juvenile) with "người dưới 18 tuổi" (person under 18), this change is largely terminological and does not affect the substantive legal protections offered to minors. For consistency, this article will use both terms interchangeably to align with the legal discourse and maintain coherence in the analysis.

Unhappiness and Smoking Behavior among Vietnamese Men

Kien Le — 2025-04-22

Smoking remains one of the most prevalent and deleterious health behaviors globally. The persistence of smoking as a significant public health challenge is underscored by its addictive nature, which complicates cessation efforts, and the profound health and economic consequences associated with continued use. Recent research has begun to explore the connection between psychological well-being and smoking behavior, aiming to elucidate how emotional states might influence health-related behaviors. This study examines the relationship between unhappiness and smoking behavior among Vietnamese men, using data from the UNICEF Multiple Indicator Cluster Survey 6, covering approximately 5,000 men surveyed between 2020 and 2021. Employing a fixed effects regression model, our analysis reveals a significant positive correlation between unhappiness and smoking. Specifically, being unhappy increases the likelihood of ever trying cigarettes by 7.3 percentage points, recent smoking by 10.0 percentage points, daily smoking by 7.8 percentage points, and the number of cigarettes smoked in the past 24 hours by 1.505 cigarettes. These findings carry substantial economic implications, particularly regarding public health expenditure, workforce productivity, and the long-term costs associated with smoking-related illnesses. Smoking imposes a significant economic burden on individuals and healthcare systems, encompassing both direct costs such as medical treatments and indirect costs including lost productivity due to illness and premature mortality. Our research contributes to identifying preventive strategies that enhance emotional well-being and potentially reduce smoking prevalence. Moreover, if interventions designed to increase happiness are shown to decrease smoking rates effectively, they could inform policy decisions to prioritize mental health and preventive care, yielding long-term economic benefits. The presenting topic further aligns with several Sustainable Development Goals (SDGs) adopted by all United Nations members, notably SDG 3 (Good Health and Well-being), SDG 8 (Decent Work and Economic Growth), and SDG 12 (Responsible Consumption and Production).

Quality of technology in virtual reality tourism and the role of artificial intelligence - from perception to intention

Tho Van Nguyen — 2025-04-22

This study investigates the relationship between technology quality and consumer behavior in the field of virtual reality tourism. An online survey was conducted with 403 customers in Vietnam, spanning various age groups, who have a passion for travel and have used virtual reality (VR) and augmented reality (AR) technologies in tourism. The research findings indicate that technology quality, including information quality, system quality, and usefulness, positively influences users' perceived value of VR/AR quality. This perceived VR/AR value, in turn, has a positive impact on travel intention. However, privacy concerns were found to negatively affect users' perceived value of VR/AR. The study also examines the role of Explainable Artificial Intelligence (XAI) in positively moderating the relationship between privacy concerns and perceived VR/AR value. An interesting discovery is that XAI helps alleviate users' privacy concerns when experiencing virtual tourism technologies, addressing a limitation that conventional AI has not yet resolved. Several data analysis and validation methods were applied, including reliability testing of the measurement scale (Cronbach's alpha), Exploratory Factor Analysis (EFA), and Confirmatory Factor Analysis (CFA). Hypothesis testing and model evaluation were conducted using Structural Equation Modeling (SEM). Additionally, data analysis was supported by SPSS 26 and AMOS 28 software. The results of the study provide critical insights for technology manufacturers to enhance product quality, enabling users to optimize their virtual tourism experiences. Furthermore, the findings serve as a foundation for businesses leveraging smart tourism technologies to design and implement more effective VR/AR-based tourism products. By doing so, they can attract more tourists to real-world destinations, strengthen their competitive advantage, and promote the sustainable development of the tourism industry. This study highlights the importance of integrating advanced technologies like XAI to address user concerns and improve the adoption and satisfaction of virtual tourism solutions, ultimately contributing to the growth and sustainability of the tourism sector.

Tail risk spillovers among ASEAN-6 forex markets

Ngo Thai Hung — 2025-04-22

Factors affecting exchange rates, such as interest rates, trade balance, inflation, and demand for investment and currency speculation, could significantly change during extreme conditions. Compared to the USD, the local currencies of ASEAN-6 countries are more likely to depreciate during such scenarios due to the economic and geopolitical crises in the US and the international investors' confidence in the USD. Therefore, examining the phenomenon of contagion in the foreign exchange markets in these countries is an important topic that needs to be clarified. This study aims to explore tail risk spillover in the ASEAN-6 foreign exchange markets, including Vietnam (VND), Thailand (THB), the Philippines (PHP), Indonesia (IDR), Malaysia (MYR), and Singapore (SGD) during the period from 2018 to 2024 using the TENET model (Tail-Event driven NETwork risk). The results indicate that the level of tail risk spillover in these economies increases significantly during global financial crises, including the US-China trade war, the COVID-19 pandemic, and the Russia-Ukraine war. However, when considering the average level of tail risk spillover, the impact is relatively low (3.60%), suggesting potential for diversification in the foreign exchange markets of the ASEAN-6 countries. Notably, the foreign exchange markets of Vietnam and the Philippines do not experience significant tail risk spillover from other foreign exchange markets. In contrast, the pairs of Thailand-Singapore and Indonesia-Malaysia exhibit significant bilateral tail risk spillover effects.

Factors affecting the stock prices of real estate enterprises listed on the Vietnamese stock market

Bình Đình Nguyễn — 2025-04-22

This study analyzes the factors affecting the stock prices of real estate enterprises listed on the Vietnamese stock market from 2019 to 2023. To achieve this objective, the study used the stationary regression method (FEM) with the data set collected from reliable sources such as World Bank, IMF. Internal company data such as profitability, business size, earnings per share, and corporate structure are disclosed in real estate companies' annual audited financial statements. The research sample is based on data collected from 32 companies in the real estate and service investment industry group listed on HOSE in 2019 - 2023, with 160 observations. Research data includes variables belonging to macro factors such as Vietnam's economic growth (GDP), interest rate (ITR), inflation (INF), USD/VND exchange rate (EXR), gold price (DGP) and internal variables of real estate enterprises such as lagged variables of stock price (SP_1), profitability (ROA, ROE), enterprise size (SIZE), earnings per share (EPS), and enterprise financial structure (CAP). The research results show that the internal factors of the company, such as the previous year's stock price (SP_1), financial structure (CAP), and return on total assets (ROA), have a positive impact on the market price of the stock. On the macro side, the inflation rate (INF), and economic growth (GDP) have positive effects on the stock prices of real estate companies, while exchange rate (USD/VND) has negative consequences.

Laws on unclaimed savings accounts in France and the Usa – suggestions for Vietnam

Hạ Nguyễn Quang Trần — 2025-04-22

Unclaimed savings deposit accounts are bank accounts with no transactions over a long period and no clear beneficiary. France and the United States have regulations for handling these accounts to protect depositor rights, optimize capital within the banking system, and prevent the waste of unused assets. In France, the law stipulates that inactive accounts (typically after 10 years) are transferred to the Caisse des Dépôts et Consignations. This institution holds unclaimed assets before they become state property if no claim is made. The United States has a similar process, with each state enforcing escheatment laws that require banks to transfer funds from inactive accounts to a state agency after a specific period, usually 3 to 5 years. The regulations on unclaimed assets in these two countries can be considered quite comprehensive, covering concepts, classifications, holding periods, and the procedures for handling these assets. However, in Vietnam, banking laws and internal regulations of banks lack specific provisions for this type of asset. This leads to practical issues; for example, if a forgotten account is left behind by an owner who has passed away or suffers from memory loss, and their relatives or legal heirs are unaware of the account’s existence, there is no straightforward procedure for managing it, leaving it effectively lost. Through this study, the authors propose that Vietnam establish a specific legal framework for unclaimed accounts, including clear regulations on the inactivity period and the rights and responsibilities of banks and state agencies in managing unclaimed assets. Additionally, efforts should be strengthened in notification and communication to ensure citizens are informed and can update their account information promptly. Researching and applying experiences from France and the United States could help Vietnam protect depositor rights, improve unclaimed asset management, and create a sustainable source of revenue for the national budget.

Corporate social responsibility and business performance: Approach quantile regression

Phuong Nguyen Thanh Duong — 2025-04-22

This study investigates the interplay between corporate social responsibility (CSR), ESG practices, and business performance within the ASEAN-6 region, focusing on the under-explored role of carbon control. A critical area for further research is the differential impact of ESG on businesses with varying levels of financial performance. It examines the impact of environmental, social, and governance (ESG) initiatives on profitability, using Return on Assets (ROA), Return on Equity (ROE), and a variable denoted by Q. Using data from Refinitiv Eikon's business reports for the period 2016-2022, we employ the GMM regression to address potential endogeneity issues. Quantile regression analysis can be used to explore deeper into the differences in the effects of ESG on companies with varied financial performance levels. The research reveals a positive relationship between a business's ESG score, emissions score, and business performance. Interestingly, this study shows the differential impact of ESG and carbon control across financial performance quantiles. The study proposes practical policy recommendations to empower sustainable development for emerging countries. This research contributes to the existing body of knowledge in several significant ways. First, it adds to the ongoing scholarly debate regarding the relationship between ESG and financial performance, offering empirical evidence from the ASEAN-6 region. Second, it provides compelling evidence of the crucial impact of carbon control on business performance, which is increasingly vital in climate change. Third, it provides empirical evidence of the complexity of this relationship, showing differential impacts across many financial performance quantiles. By incorporating these elements, the study offers a comprehensive and insightful analysis that advances our understanding of the critical interplay between CSR, ESG, carbon control, and business performance in ASEAN-6.

The relationship between workplace coaching, psychological rewards and employee performance: An empirical research at logistics service enterprises in Southeast Vietnam

Hùng Thanh Nguyễn — 2025-04-22

This study examines the impact of workplace coaching and psychological rewards on employee performance through employee motivation and satisfaction. Partial least squares structural equation modelling was used to analyze the research sample of 402 logistics service enterprises in the Southeast region. The results show that workplace coaching and psychological rewards have a direct positive impact on employee performance and a positive indirect effects on employee performance through employee motivation and satisfaction. The impact level of workplace coaching with the mediation of employee satisfaction and motivation on employee performance has the most considerable value. Workplace coaching helps employees break down cognitive barriers to develop themselves, increasing individual and organizational performance. This shows that psychological rewards and especially workplace coaching significantly improve employee performance at logistics service enterprises in the Southeast region, which is essential and useful for managers who want to improve employee performance in the context of financial difficulties of enterprises due to the post-COVID-19 economic crisis.

Some comments on the principle of judges and people's jurors adjudicate independently and are subject only to the law

Nguyen Thi Hong Nhung — 2025-04-22

The principle that Judges and People's Jurors Adjudicate Independently and Are Subject Only to the Law is one of the core principles guiding the judicial ideology of the Vietnamese judiciary, specifically Judges and People's Jurors. In Resolution No.27-NQ/TW dated November 9th, 2022, the 6th Conference of the Central Committee of the Communist Party, term XIII, clearly stated to promote judicial reform, ensuring the independence of courts. Judges and jurors are independent and only obey the Law, which is one of the central goals in building and perfecting the Vietnamese Socialist Rule of Law State in the new period. When perfecting the Law on the organization of people's courts to suit the new economic and social situation of Vietnam, the new Law on the Organization of People's Courts of 2024, effective from January 1st, 2025, at Article 11, has added two new dispositions, in addition to retaining the entire content of Article 9 of the old Law on the Organization of People's Courts of 2014 to strengthen the guarantee for the principle that Judges and People's Jurors solve cases independently and only obey the Law. This article studies this principle primarily based on an analysis of the regulations in the new Law on Organization of People's Courts of 2024, presents some inadequacies and the application of regulations in practice, and also highlights the experience of other countries to serve as a basis for proposals to improve Vietnamese Law on this issue.

A Research on applying artificial intelligence in data analytics and sustainable development strategies for Vietnamese Enterprises according to ESG Standards

HUYNH YEN NHI Nguyen — 2025-04-22

In the context of a global economy transitioning towards sustainable development, Environmental, Social, and Governance (ESG) criteria have become a critical foundation for ensuring corporate sustainability and responsible investment decisions, benefiting society and businesses. However, despite increasing encouragement to integrate ESG, many organizations still face significant challenges in effectively gathering, analyzing, and implementing ESG principles. This research proposes an innovative solution: an ESG information management system enhanced by artificial intelligence (AI). The system leverages AI algorithms to automate data processing, provide real-time monitoring, and conduct predictive analysis to enable data-driven ESG decisions. Additionally, it supports businesses in generating ESG reports according to specific sets of criteria. With advanced AI features such as anomaly detection, trend analysis, and automated reporting, the system will assist businesses in comprehensively tracking, assessing, and optimizing their ESG metrics. The application of AI not only enhances transparency and accountability but also enables organizations to adapt flexibly to evolving ESG standards. This system allows organizations to improve operational efficiency, strengthen resilience in the face of economic downturns, and enhance strategic foresight, ultimately driving sustainable growth and better meeting the demands of socially responsible stakeholders. Integration of AI in ESG management is not merely a technological advancement but a transformative tool, delivering superior business outcomes and ensuring long-term success in a global economy increasingly focused on sustainability.

The role of small and medium-sized enterprises in the economic growth of Ho Chi Minh City

Luân Văn Nguyễn — 2025-04-22

In recent years, small and medium-sized enterprises (SMEs) have made significant contributions to the economic growth of Ho Chi Minh City (HCMC). According to data from the Statistics Office in 2021, SMEs accounted for approximately 98% of the total number of enterprises in the city, contributing over 23% of GDP and creating employment for about one-third of the local workforce, thereby promoting the structural transformation of the economy in a positive direction. Beyond their role in the city’s economic growth, SMEs are also a key driver of Vietnam’s sustainable economic development. This study focuses on exploring the critical role of SMEs in HCMC’s economic growth. The main objective is to analyze the contributions of SMEs from 2013 to 2023, highlighting both their achievements and the challenges they face in enhancing their impact on the economy. Using a descriptive statistical methodology, the study examines key aspects such as GDP contribution, job creation, and sectoral distribution to emphasize the role of SMEs in driving growth and economic transformation. The research findings indicate that SMEs account for 98% of all enterprises in HCMC, contribute over 23% of the city’s GDP, and employ nearly 25% of the workforce, underscoring their vital role in economic development and structural transformation. However, despite these significant contributions, SMEs encounter numerous challenges, particularly in accessing capital and expanding market reach. These barriers directly affect their growth potential, development, and competitiveness in the context of economic integration and external influences. Notably, the unexpected impact of the COVID-19 pandemic has posed severe difficulties for many SMEs, exposing vulnerabilities in their ability to respond to economic fluctuations. As a result, strengthening resilience and enhancing the competitiveness of SMEs has become an urgent necessity. This study provides in-depth insights and practical recommendations for policymakers and business practitioners to strengthen the role of SMEs in HCMC’s economic growth while also improving their resilience and long-term sustainability in a rapidly evolving economic landscape.

Building a financial sentiment bank on the investment behavior of foreign investors

Đặng Anh Như — 2025-04-22

This study focuses on building a Financial Sentiment PhraseBank on Foreign Investors’ Trading Behavior in the Vietnamese Stock Market. 4,065 financial news articles containing information about eight typical trading behaviors, including “buying, selling, net buying, net selling, accumulating, offloading, and locking in profits,” were analyzed. The study successfully extracted a database comprising 7,130 key sentences from these articles and assigned sentiment labels to the content. The final product, the Financial Sentiment PhraseBank on Foreign Investors' Trading Behavior, compiles 5,126 sentences with corresponding sentiment labels. This PhraseBank holds significant value for advancing future research, particularly as a resource for developing models and tools for financial news sentiment analysis based on the BERT architecture, similar to the FinBERT tool. Furthermore, the study provides empirical evidence that applying Sentence Embedding techniques at the sentence level, instead of traditional Word Embedding methods for individual words, greatly enhances analytical efficiency and opens new directions for deeper exploration in the future. This research makes a substantial contribution to the body of knowledge on foreign investors' trading behavior and offers valuable tools and datasets to support both scientific research and practical investment activities.

Proposal to amend the regulations on the authority of the National Assembly and the National Assembly Standing Committee

Cao Vu Minh — 2025-04-22

The authority of a state agency and a position in a state agency indicate the limits of rights and obligations that the subject must carry out to carry out its activities. The authority of state agencies and positions in state agencies are stipulated quite expressly in the 2013 Constitution. From the provisions of the 2013 Constitution, the laws on the organization of the state apparatus have specifically stipulated the authority of state agencies and positions in state agencies. However, after 10 years of implementation, the provisions on the authority of the National Assembly and the Standing Committee of the National Assembly in the 2013 Constitution and the laws on the organization and operation of the National Assembly have arisen with shortcomings such as: i. The authority of the National Assembly to decide on war issues has not been clearly defined; ii. The authority to annul joint legal documents that are contrary to the Constitution, laws, and resolutions of the National Assembly is still open; iii. The Standing Committee of the National Assembly's authority to adjust administrative units' boundaries below the province and centrally-run city level has not been scientifically defined; iv. The authority of the Standing Committee of the National Assembly to pass resolutions nullifying the authority of the President... The article analyzes the provisions on the authority of the National Assembly and the Standing Committee of the National Assembly in current law, points out the shortcomings and difficulties, and makes recommendations for improving the law.