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A REPORT ON BAOVIET GROUP
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Transmitted to: Sales Director
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Prepared for:
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Mr. Jubred Ada Peñano (Lecturer)
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Unit 1: Business Environment
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Banking Academy, Hanoi
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BTEC HND in Business (Finance)
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Prepared by:
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Phạm Tuấn Anh –Oppa – Class F04A
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Registration No.: ITP F04-020
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Submission Date: December 2nd 2011
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EXECUTIVE
Vietnam is one of the fastest economic growths in Asia. The recent integration allows multinational corporations to develop significantly. Baoviet is the largest manufacturer which plays an important role in Vietnam’s economy. The purpose of this report is to provide readers with clearly identification of the mission, objectives and responsibilities of Baoviet Group. Besides, it also mentions and investigates the economic status in Vietnam that influences Baoviet’s operation.
The proposal of this report research Baoviet on various aspects: * The mission, values and objectives and the influence of stakeholders of Baoviet Group. * Evaluate the extent to which Baoviet achieves the objectives of three stakeholders. * Explain the responsibilities of Baoviet and strategies employed to meet them. * Explain how economic systems attempt to allocate and make effective use of resources available within Vietnam. * Discuss the impact of social welfare and industrial policy initiatives on Bao Viet and the wider community. * Evaluate the impact of macro-economic policy (fiscal and monetary policy) measures and influence of the global economy on Baoviet and stakeholders in Vietnam.

Contents EXECUTIVE 2 INTRODUCTION 4 BAOVIET GROUP 5 1. THE MISSION, VISION, VALUES, OBJECTIVES AND THE INFLUENCE OF STAKEHOLDERS 5 1.1 Vision and mission 5 1.2. Values 5 1.3 Objectives: 6 2. IDENTIFICATION OF STAKEHOLDERS 6 2.1. Classification and influence of stakeholders 6 2.2. Achievement of stakeholders’ objectives 9 3. THE RESPONSIBILITIES OF BAOVIET AND STRATEGIES EMPLOYED TO MEET OBJECTIVES OF STAKEHOLDERS 10 VIETNAM ECONOMIC REVIEW 11 1. ECONOMIC SYSTEM IN VIETNAM AND HOW ECONOMIC SYSTEM ALLOCATES AND EFFECTIVE USE OF RESOURCES. 11 1.1 Economy system 11 1.2. Allocation and effective use of resources available within the country 12 2. THE IMPACT OF SOCIAL WELFARE AND INDUSTRIAL POLICY INITIATIVE ON BAOVIET GROUP AND THE WIDE COMMUNITY 14 2.1. Vietnam social welfare and economic policy 14 2.2. The impact of social welfare and industrial policy initiatives on Baoviet and the wider community 15 3. THE INPACT OF MACRO-ECONOMIC POLICY MEASURE AND THE GLOBAL ECONOMY 15 3.1. The impact of macro-economic policy measures 15 3.2. The impact of global economy 17 CONCLUSION 19 RECOMMENDATION 19 REFERENCE 20

INTRODUCTION
The process of starting up and developing a business is not just an adventure, but also a real challenge. In order to help entrepreneurs with this, it is essential to create a favorable business environment. Ensuring easier access to funding, making legislation clearer and more effective and developing an entrepreneurial culture and support networks for businesses are all instrumental as far as the setting up and growth of businesses are concerned.
Business environment is also an important problem of Vietnamese companies. It has changed along with the time and the economy situation of Vietnam, especially since Vietnam jointed WTO. From that privatization affected strongly to Vietnam economy system. The Vietnamese privatization program has launched in 1992. From that, we find significant increases in profitability, sales revenues, and efficiency and employee income. Results of applying the “difference-in-difference” (DID) method, wherein a control group of firms is used to pick up the influence of other determinants of firm performance, suggest that the performance improvements may indeed be associated with equalization.

BAOVIET GROUP
1. THE MISSION, VISION, VALUES, OBJECTIVES AND THE INFLUENCE OF STAKEHOLDERS
The vision, mission, values and principles and objectives form part of business strategy of any company. Most business has well set up visions, missions, values and objectives and these give them perspective and a sense of purpose. It is important to set these out for that entity so as to establish a strong foundation upon which the company will build and develop its business. The process of developing these can be shown as a progression of hierarchy of aims or purposes.

1.1 Vision and mission
According to that view, Baoviet Company identifies the mission is: “To ensure the safety, prosperity, and long term benefits for our customers, investors, employees, and communities”. An ideal mission statement should meet the standard of brevity, flexibility and distinctiveness and also answer the question “Why does the organization exist?”. To appropriate to the mission, Baoviet give out the vision to 2015 is becoming Vietnam’s leading financial–insurance group, with solid financial strength, strategically integrating into regional and international markets, focused on three pillars: insurance, banking and investment. Baoviet commit to provide a range of high professional products and services for customers to build long-term relationship.
1.2. Values
Baoviet also have five main values. Firstly, Baoviet Company always takes care about quality. It means that all of their activities and services provided must be achieve high quality. In another hand, easy access is the second important for Baoviet Company. Employees are close, friendly and professional; interested colleagues and customers. About the spirit of cooperation, everybody must be cooperation, stick with colleagues across the group and build sustainable relationships with customers and partners based on mutual understanding. Other value in Baoviet Company are dynamic and responsibility - Transparent and honest; Responsible for society and communities; benchmark of corporate governance.
1.3 Objectives:
Objectives are the aims to be achieved and the desired end result. In the common way, objective is the company’s goal of the company. In Baoviet, there are three main objectives of the Baoviet Group in the end of 2015 are:
First one would be: “growing total assets at CAGR of 17% for 2011-2015 periods, equivalent to 100.000 billion VND by end 2015”. It is not very big number but for Baoviet group – a big company, that mean more quality and better product that they need to create.
The second objective come together with the first on, it tell: “growing total revenue at CAGR of 16%, equivalent to 26.000-28.000 billion VND by end 2015”.
Last but not least: “PAT grows at CARG of 23%, equivalent to 2.600-2.800 billion VND by end 2015, PAT of Baoviet Group after minority interests is 2.200-2.300 billion VND”.
2. IDENTIFICATION OF STAKEHOLDERS
2.1. Classification and influence of stakeholders
While vision, mission, values and objectives set the direction for a company, stakeholders is the one that shapes and directly influences these features. According to Johnson, Scholes and Whittington (2006) define stakeholders as “individuals or groups who depend on the organization to fulfill their own goals and on whom, in turn, the organization depends”. Having no exception, Baoviet affects and is affected by different stakeholders. Stakeholders of Baoviet can divide onto three groups:
Internal stakeholders are the ones working inside the company. They are closely connected to Baoviet and their objectives are most likely to have strong influence on how Baoviet is operated. This group of stakeholders includes employees and managers/directors of Baoviet, those who are interested in Baoviet continuation and growth, can influence the bank from the inside and will directly influence the quality of jobs done in it. Managers and shareholders have the most power to make a decision in Baoviet. Manager had high salary and much preference as buy preference share, use service of Baoviet with low cost. Employees in Baoviet also had high salary which average 5 to 8 million VND, calculated on average salary in Vietnam.
Connected stakeholder is the group of stakeholders who are usually connected to Baoviet on a contractual basis. This group of stakeholders consists of stakeholders, customers, suppliers, competitors and so on. They mostly influence the bank though the distribution of bank resources such as capital and profit and management cost the bank will generate. Shareholders had the most interest and power. Board of management and big shareholders provide immediately every decision for developing of Baoviet. If they did not have a good objective for develop, Baoviet can lag behind other company in activity business environment.
External stakeholder is the broadest group of stakeholder which includes government, local authorities and professional groups; with diverse objectives and varying ability to influence Baoviet direction. This group of stakeholders usually influences the company from the outside and more often than not will affect the overall strategies and direction of the company rather than detailed plans and projects.

Table 1: Stakeholder mapping

Based on stakeholders mapping we can assess all influence of Baoviet Stakeholders. TYPES | STAKEHOLDERS | STAKEHOLDER MAPPING | | | Key Players | Keep Satisfied | Keep Informed | Minimal Effect | INTERNAL STAKEHOLDERS | Management | x | | | | | Employee | | | x | | CONNECTED STAKEHOLDERS | Shareholders | x | | | | | Customers | | x | | | | Competitors | | | | x | | Suppliers | | | x | | EXTERNAL STAKEHOLDERS | Central Government | | x | | | | Local Authorities | | x | | | | Professional Groups | | | | x |

Table 2: Internal Economic Environment

Source: World Bank (2008) and International Monetary Fund (IMF) (2008).

2.2. Achievement of stakeholders’ objectives TYPES | STAKEHOLDERS | OBJECTIVES | EXTENT OF ACHIEVEMENT | INTERNAL STAKEHOLDERS | Employees | High Salary | Achieved | | | Health Benefit | | | | Good working condition | | | Managers | High salary. | Achieved | | | Health insurance | | | | Retired insurance | | CONNECTED STAKEHOLDERS | Customers | High Service Quality | Achieved | | | Clear information | | | Shareholders | Dividend profit. | Achieved | | | Make decision. | | | | Company’s growth | | EXTERNAL STAKEHOLDERS | Central government | Compliance with laws and regulations | Achieved | | | Payment of taxes | | | | Contribution to the national economy | |

As seen from the table, the objectives of employees a listed as good working conditions, and health and safety and high salary. The number of employees at Baoviet in present is nearly 5520 (counted in the end of 2010). Furthermore, Baoviet usually organized training courses to improve skill and knowledge for employees. Since human resource became company’s most important capital, Baoviet always interested to listen to supportable ides of staffs to help create a good working conditions and fair treatment motivate its employees.
Managers always have an important role in every company. Baoviet should have a good manager because of managers are the heart of company. Bigger Group needs more talent managers to develop well. Moreover, Baoviet has also achieved the objectives of customers. In external stakeholders, the objects of Central Government are achieved. Especially, in term of tax, Baoviet is achieved in high extent with contribution thousands billion VND for government each years.
In conclusion, each stakeholder to some degree has a link of dependency to Baoviet. Each will make demands on, and have expectations of it. These may clash and conflict with the interest of other stakeholder groups. It is important to Baoviet to maintain an equitable and working balance among the claims of the various directly interested groups.
3. THE RESPONSIBILITIES OF BAOVIET AND STRATEGIES EMPLOYED TO MEET OBJECTIVES OF STAKEHOLDERS
Organizations are part of human society, like people, are subject to rules that govern their conduct towards others. Some of these rules are law and enforced by legal sanction. Other rules fall into the realm of ethics or morality and are law and are enforced only by the strength of society’s approval or disapproval (BPP Professional Education, Business Environment 2004, p.47). The table below will tell more about Baoviet’s organizational responsibilities. | Specific responsibilities of Baoviet | Strategies employed | Social responsibilities | Raising the living standard | Social campaigns | Ethics and business | Obey the law | Punctually pay taxation | Management responsibilities | Improve the material and spiritual life for employees | Give reward and organize extracurricular activities | Environmental responsibilities | State a commitment to environment protection | Provide evidence of employee awareness | Public relations and corporate image | Propagate the image of Baoviet | Broadcast advertising |

VIETNAM ECONOMIC REVIEW
1. ECONOMIC SYSTEM IN VIETNAM AND HOW ECONOMIC SYSTEM ALLOCATES AND EFFECTIVE USE OF RESOURCES. 1.1 Economy system Economic system is the structure of production, allocation of economic input, distribution of economic outputs and consumption of goods and services in an economy. It is a set of institutions and their social relations. Alternatively, it is the set of principles by which problems of economics are addressed, such as the economic problem of scarcity though allocation of finite productive resources. In the world economy, there are three kinds of economic system: * Free market economy is the system in which all the decisions a taken though the operation of the market mechanism. There is very little intervention in business decision making (BPP professional education, business environment course book, pg. 135). It also well-known as market economy or capitalism, with no control from government to its factor or production. * Command economy is the system where decisions are taken collectively, usually by central planning committees. The government controls what is produced, how much is produced, the price and who the goods are available to. It is one in which the fundamental economy questions below: what, how and for whom to produce. * Mixed economy is a system that shows a balance between market forces and the state intervention. The view is taken that certain activities need to be regulated by the state while others can be left to the influence of the market. A mixed economy usually comprise: Free enterprise sector, public ownership, welfare sector (BPP professional education, business environment course book, pg. 136). Mixed economy has both private and public factor and it is happening in Vietnam economic. It can see very easily when Vietnam economy combines some features of both a free market economy and a command economy. The industrial was monopolistic by government such as finance, education, petrol before, now starting process with the joining of privates and free in process. Vietnam is now in transition from a centrally-run to a market economy. The country’s Constitution recognizes a socialist oriented multi-sector economy operating under both the market mechanism and management by the State. Foreign and domestic private sectors are among the economic sectors constitutionally recognized in Vietnam. There are currently state-owned enterprises, state-private joint-stock companies, foreign invested enterprises, domestic private firms, cooperatives and household businesses operating in the country. A level playing field is being created to encourage all economic sectors to expand and develop. 1.2. Allocation and effective use of resources available within the country All societies have available quantities of productive resources or what economists call factors of production. There are three factors in the factors of product: land, labor and capital. Labor- includes all types of physical and mental power of human beings. Labor as a factor of production is clearly very diverse or heterogeneous. Land and natural resources-countries are differently endowed with land of varying quality for farming and other uses and also with natural resources like oil, coal, and other mineral deposits, water, fish from the sea, the climate and terrain. Capital- here is the economy’s stock of physical assets such as machinery and plant installed in manufacturing firms, the premises and offices of all types of business and also the social infrastructure of roads and sewers commonly provided by the government (BBP Professional Education, 2004, p.131). The labor force in Vietnam (2008) was allocated about: By Ownership, 9.07% of employed population work on state sector, 87.81% on non-state sector and 3.08% on foreign investment sector. By kind of economic activity: there are 48.87% labor force work on agriculture and forestry, 14.04% on manufacturing, 11.96% on wholesale and retail trade; repair of motor vehicles, motor cycles and personal and household goods and 25.13% in another branch. In 2008, the unemployment rate is 2.38% and underemployment rate is 5.10%. The rate of unemployment is 4.56% in 2009. Labor forces Vietnam were known as the cheap labor force but low in worker efficiency and lack professional. Including with that, the rate of labor force is unbalance, so when the world economy is crisis it makes the export of Vietnam decrease and the unemployed also increase in export industrial. Labor is a big problem today. Vietnam has a big human resource but almost people want to work in big city or capital, so many local city lack of human resource. The employers with high level are also low. In the long time Vietnam only focused on developing university, upgrading material facilities. As a result, there were too many students who don’t have real knowledge to work and many bachelor after graduated cannot find a job because of they don’t have many skills about work in company or corporation. This situation is very popular in Vietnam economy. In the 5year-plan from 2010-2015, Vietnam tries to invest to developing education, increase health of communication (Government Web Portal, 2006). That will bring the effective because it is not only increase the effective use of labor force but also increase the quality labor force in the future. In Vietnam, land and natural resource are the basic factors to develop the economic system in Vietnam. The use of land was not bringing the effects. The total area of Vietnam is 33,115,000 ha, in that land granted and for rent is just about 72.4 %. Agricultural land account for 75.486% (24,997,200ha), non-agriculture land is 10.224% (3,385,800 ha) and unused land is 14.29% (4,732,100 ha). The problem is just 81.19% agriculture land, 45.96% non-agriculture land was used. Therefore, allocating and using effectively land and natural resource is now a big problem in Vietnam. Capital has an important role to develop economic system. Vietnamese government distributes almost capital to industry and agriculture. There are many kinds to raise capital; one of the most effective ways is privatization. In recent years, Vietnam was not really effective in allocation it. Vietnam has attention in development technology, industrial, social infrastructure of roads and sewer and premises, offices. However, there are still exist the problem in allocate uses of capital such as embezzlement, using wrong capital or capital still not bring the effects. With the 5years-plan from 2010-2015, capital of Vietnam will be attention for development technology, applying technology in product, manufacture, increasing infrastructure, promote public industrialization, improving quality and competitiveness of the industry, continue to expand and improve the quality of transport, postal – Telecom and so on.
2. THE IMPACT OF SOCIAL WELFARE AND INDUSTRIAL POLICY INITIATIVE ON BAOVIET GROUP AND THE WIDE COMMUNITY
2.1. Vietnam social welfare and economic policy
In economics, sustainable development is defined as the transformation of the growth model and the economy to strike a balance between intensive and extensive growth and to enhance quality and efficiency. Unfortunately, Vietnam’s entrenched obsession with achievements has spelled trouble for such a drastic shift, especially regarding policy implementation on the local level. To tackle this problem, policymakers must show determination, flesh out thorough solutions and ensure that policy formulation and implementation in all government strata share the same philosophy. It is essential to start improving pro-market institutions again, through policies that open up domestic resources, especially the immensely potent private sector, and optimize the use of external endowments. For years, education has been haunted by myriad problems. While the proportion of Vietnamese with university degrees is among the world’s highest, the competence of fresh graduates is still in doubt. Low wages are ascribable to the limited quality of Vietnam’s labor. Therefore, Vietnam must concern about social and environmental factors. Economic growth not only arises from social demand and relations but also boosts the development of social forces. In Viet Nam, social welfare recently has an important role besides developing economy. Social welfare concentrates on old people, children, women, and disability people.
Figure 1: The Price of Gasoline in Domestic and World Markets

Source: Singapore FOB price is based on the U.S. Department of Energy.
The government Viet Nam concentrated on retirement pension and disability people policy and help the poor people. If economic policy formulation does not take into account social welfare, growth will be both unsustainable and unstable. Many pro-growth policies have been launched, but there is still a dearth of measures aimed at bolstering the development of social aspects such as health care, education and environment, so that these sectors can turn into foundations for economic development instead of following the same path as business sectors.
2.2. The impact of social welfare and industrial policy initiatives on Baoviet and the wider community
The social welfare and industrial have also helped Vietnam reach many achievements on the wider community. From 1993 to 2004, Vietnam has reduced the rate of household poverty from 58.1% to 24.1%. Since 2000, Vietnam has achieved national standards in literacy and universal primary school education. Rate of attendant pupils was growing to 97.5% (2004). The rate of malnourished children under five was reduced to 24% (2005). In 2003, Vietnamese’s average life was 68.6 and it increased to 69 after a year and 70.5 in next two year. Average per capital income calculates in purchasing power in Vietnam increased from $2490 to $2005 – from 2003 to 2004.
3. THE INPACT OF MACRO-ECONOMIC POLICY MEASURE AND THE GLOBAL ECONOMY 3.1. The impact of macro-economic policy measures Macro-economic policy is the study of economy-wide phenomena, including inflation, unemployment and economic growth. There are two main sets of macro-economic policy that the Vietnamese government enforces on order to influence level of economic activities within a country: fiscal and monetary policy. And it is obvious that these two types of policy will definitely have an impact in Baoviet group. Fiscal policy means adjustment of public expenditure and taxation so as to affect aggregate demand. Fiscal policy involves taxation and other sources of income, government spending, borrowing whenever spending exceeds income and repaying debt when income exceeds expenditure. Monetary policy directly affects cash flow and the economy of the country, monetary policy affects economic activity though the four points that interest rates, exchange rates and control money supply, control over bank lending and credit (BPP Professional Education, Business Environment, 2004, p.151). They are two policies which help the government guide the whole economy. The macro-economic difficulties of Vietnam are homemade and have bad affective for almost Vietnamese company, include Baoviet Group. Confronted with massive capital inflows in 2007, the government still chose to give priority to rapid growth. The monetary authority purchased large amounts of foreign currency to prevent the appreciation of the VND. The growth in base money led to a rapid expansion in credit, mainly driven by joint stock. As a result, inflation accelerated and a real estate bubble developed. Ballooning imports of consumption goods added to an already large trade deficit, mainly associated with purchases of capital and intermediate goods. Investments by Economic Groups and General Corporations outside their core business fueled the asset price frenzy. There are indications that this policy package is working, as the growth in non-food prices compared to the previous months and the growth of monthly imports compared to the previous year, have started to decelerate. Vietnam economic has an important experience in 2009 - economic crisis. At that time, the whole economy of Vietnam escaped from being ruined by good monetary policy. The State Bank of Vietnam had to subsidize the interest rates, postponed the time pay taxes. After that, in the second quarter of 2009, GDP increased by 4.5% and reached 5.8% in the third quarter. In the next year, government changed the exchange rate between VND to USD to 13%, 3% higher than last year. It helps maintain the balance of the whole economy and subdue the inflation. Baoviet is on the way of expanding the business and that mean the company need lots of investment and moreover is money borrowed from bank. At this time, the interest rate is higher, therefore Baoviet has to pay more money for business and invest in Vietnam, and also if abroad. 3.2. The impact of global economy Globalization is the process by which national economies become increasingly integrated, often as a result of power wielded by TNCs (transnational corporations) (BPP Professional Education, Business Environment 2004, p.172).Trans-National Corporations are stateless corporations, able to move production round the globe, make mergers, acquisitions & foreign investments where they please and pay less taxes. Figure 2: Investment ranking Global economy brings both advantages and disadvantages. The changes in complex and profound impact of political changes in North Africa, Middle East, and earthquake in Japan had been caused bad consequence in the whole world economic. In 2008, 2009 the world has faced with the crisis of Global Economy. The global financial crisis is already causing a considerable slowdown in most developed countries. Financial crisis began to occur from August, 2007 when US’s property market is smash .It has pulled the US economy into recession and already by late 2007 its consequences were being felt in the Euro-Zone. Most analysts now forecast a GDP fall of between 0.5% to 3.0% in the US economy and very slow growth in the Euro Zone. The IMF growth forecasts have been revised significantly, especially for the UK (-1.8 percentage points down from the last forecast for 2009), but also India (-1.1 percentage points down to 6.9% real GDP growth), and China and Africa (both down by -0.5 percentage points to 9.3% and 6.3% respectively). The unemployment can increase from 190 million 2007 to 210 million 2010 (J. Somavia, CEO of International Labor Organization, 2009). In Japan, on December 2008, industrial production decreased nearly 10 points while the unemployment rate increased nearly 0.5%. The famous corporate such as Honda, LG, Toyota or Samsung also plans to cut down staff.

Figure 3: Vietnam Export market in 2010 The export of Vietnam heavily dependent on the key markets as the U.S, Europe, Japan and these countries is projected to have economy growth slower than 2010. Because Baoviet plays a part in Vietnam’s economy, global economy crisis has influence on Baoviet and its stakeholder. The company has to narrow the business, reorganizing the agency force. The financial crisis has impacted on company but not heavy. For Baoviet, the crisis and furthermore is disaster or political issues both have good or bad effect with the company. But from that, the business as well as finance of Baoviet becomes difficulty. Stakeholders of the company also will be face with the decrease of profit, interest, invent complete loss or lost jobs if the business of company is not good.

CONCLUSION
The process of starting up and developing a business is not just an adventure, but also a real challenge. In order to help entrepreneurs with this, it is essential to create a favorable business environment. With Baoviet group, business environment is also an important problem. It has changed along with the time and the economy situation of Vietnam, especially since Vietnam jointed WTO (2006) and the privatization of Baoviet (2007). There are many factors which will influence on company’s business. Stakeholder and domestic and international economy affect directly or indirectly on the bank, object of them and responsibility of bank. Beside that is the trend of privatization and globalization, those put Baoviet Group before chance and challenge to development.

RECOMMENDATION
Customers are the key factors of Baoviet’s succeed. Baoviet Group should give more services and programs to satisfy its customers. The important that it need to have a right choice on strategy and ability to following to that. It should also assess the current economy and then consider the best method which is suitable for the current business of the company.

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Cited: in 12th, April, 2011. http://www.newschool.edu/nssr/het/essays/keynes/macropolicy.htm 4. Hanoimoi (2010). Anh huong cau chinh sach vi mo kinh te. [Online] [accessed November 30th 2011] Available at: http://www.hanoimoi.com.vn/newsdetail/Kinh_te/305110/%E1%BA%A3nh-huong-cua-chinh-sach-vi-mo-va-tien-te.htm 5. VOV (2010) Những thành tựu nổi bật [online] [accessed 15 November 2010]. Available at: http://vov.vn/Home/Nhung-thanh-tuu-noi-bat/20107/148658.vov 6. Những thời kỳ biến động của nền kinh tế Việt Nam: Bản chất của vấn đề và giải pháp cho tương lai (2008) [online] [accessed 16th November 2010]. Available at: http://forum.ipl.edu.vn/showthread.php?t=303 7. Gianmarco I. P. Ottaviano (2003): Agglomeration in the Global Economy [online] [accessed November 30th 2011]. Available at: http://onlinelibrary.wiley.com/doi/10.1111/1467-9701.00160/abstract 8. Baoviet (2011): Tài trợ thương mại [online] [accessed 30th December 2011]. Available at: http://baovietbank.vn/T%C3%A0i-tr%E1%BB%A3-th%C6%B0%C6%A1ng-m%E1%BA%A1i/pageid/45 9. World Bank (2008): World Bank Report Vietnam [online] [accessed December 30th 2011]. Available at: http://www.amchamvietnam.com/2285