Summary of economic doctoral thesis: Investment in enhancing competitive capacity at joint stock commercial bank for foreign trade of Vietnam

Research objectives: Developing and systemizing the theoretical issues in terms of investment in enhancing competitive capacity at commercial banks; through theory and practice, confirming a extremely critical role of investment in enhancing competitive capacity for development of them in general and VCB in particularly. Depending on each period, development strategy, competition strategy and characteristics, banks implement appropriate investments; finding out the solutions for investment inenhancing competitive capacity to bring the highest effect to VCB.
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Summary of economic doctoral thesis: Investment in enhancing competitive capacity at joint stock commercial bank for foreign trade of Vietnam 1 MINISTRY OF EDUCATION AND TRAINING NATIONAL ECONOMIC UNIVERSITY Do Thi To Quyen INVESTMENT IN ENHANCING COMPETITIVE CAPACITYAT JOINT STOCK COMMERCIAL BANK FOR FOREIGN TRADE OF VIETNAM Speciality: Development Economics (Investment Economics) Code: 62.31.05.01 SUMMARY OF ECONOMIC DOCTORAL THESIS Hanoi, 2014 2This work has been completed at: National Economic University.Instructor: 1. Prof. Dr Tran Tho Dat 2. Asso.Prof.Dr Nguyen Bach NguyetJudge 1: Asso.Prof.Dr Dao Van HungJudge 2: Asso.Prof.Dr Trinh Thi Mai HoaJudge 3: Dr Le Thanh TamThe Thesis shall be defended in front of the State level Thesis Assessment Councilheld at:National Economic University, No. 207 Giai Phong, Hai Ba Trung, Ha NoiAt onThe Thesis can be found in the library of: 3 PREFACE 1. The imperativeness of the Subject The effectiveness and stability in the system of commercial banks in Vietnamare under immense pressure after going through the economic recession. At the sametime, they have to face increasing greater challenges in the open financial market.Therefore, the competitive capacity of domestic commercial banks should be re-evaluated carefully from both theoretical and practical aspects. Joint Stock Commercial Bank for Foreign Trade of Viet Nam (VCB) is one ofthe major banks and holds significant market shares in key products, but it still haveto compete intensely against others and is at risk of a decline in market shares.Hence, enhancing its competitive capacity is an urgent requirement for VCB. The solutions often proposed to raise the competitive capacity for VCB arebuilding a business plan, developing the financial potential, modernizing technology,diversifying products, and enhancing customer service quality, boosting promotionalcampaigns and branding… However, these solutions need investment to be carriedout. Therefore, investing in enhancing competitive capacity is considered the basicand essential task for VCB. The issue arising to VCB is how to build the investmentstrategy, mobilize and allocate capital into the appropriate assets and fields… to bringthe most probable effects to VCB’s competitive capacity. VCB, the pioneer in the banking system as well as a typical bank that not onlyrepresents the state-owned bank but also carries new features of a joint stock bank, isan adequate and active example to do research on the issue of investing to enhancethe competitive capacity. For this reason, I choose the subject of “Investment inenhancing competitive capacity at Joint Stock Commercial Bank for Foreign Trade ofVietnam” for my doctoral thesis. 2. Overview In recent times, there have been many researches on the issue of competition andcompetitive capacity of commercial banks in Vietnam, such as: Home researches: “Competitive capacity of commercial banks on the trend ofintegration” of Nguyễn Thị Quy, economic doctoral thesis “Solutions for commercialbanks to enhance their competitive capacity and integrate by 2010” of Trịnh QuốcTrung, economic doctoral thesis “Solutions for commercial banks in Vietnam toenhance their competitive capacity in the context of global economic integration” ofLê Đình Hạc, doctoral thesis “Competitive capacity enhancement of commercial jointstock banks in Ho Chi Minh City in the context of integration” of Đoàn Đỉnh Lam…Those researches only focus on describing and evaluating factors in competitivecapacity. However, the origin of those factors were not analysed and quantifiedspecifically and scientifically. Those researches, thus, do not point out the role of 4investment in enhancing the banks’ competitive capacity but just indirectly mention itwhile investment is the origin of many factors in competitive capacity. Foreign researches: The research of Professor Michael Poter is outstanding oneabout competitive capacity. It can be applied to all levels and sectors. However, hisresearch is highly level. It should have flexible uses when applying to a certainsubject and role of investment has not also been studied directly in his research. Therefore, this thesis focuses on investment in enhancing banks’ competitivecapacity. It includes analysis and evaluation investment in enhancing bank’scompetitive capacity through specific and typical figures of VCB, building thecriteria for result and effect evaluation of these ...