Vietnamese Students Create Winning Business Strategies
HO CHI MINH CITY, July 14, 2012—Six Vietnamese students have fought their way through tough local competition to earn the right to represent Vietnam in the regional finals of the FedEx Express/Junior Achievement 2012 International Trade Challenge.
The students, grouped into three teams representing NEXUS (Gift-giving industry), GO TEA (Export tea to Japan) and WOODSMART (Reclaimed wood furniture in Taiwan), will compete in the regional finals to be held in Hong Kong on August 27 – 29. They will be up against 21 other teams from Japan, South Korea, Malaysia, New Zealand, Philippines, Singapore and Hong Kong.
This is the first year that FedEx Express, a subsidiary of FedEx Corp. (NYSE: FDX) and the world’s largest express transportation company, has partnered in Vietnam with Junior Achievement (JA) Vietnam to organise the International Trade Challenge.
The competition is designed to help students in Asia Pacific learn about international trade, providing them with an opportunity to set up a mock business and develop a plan to export a product to an overseas market. The winning Vietnam teams were chosen for their understanding of the significance of market research, creativity, planning, and entrepreneurial skills in entering new markets.
“Every year we see the world’s economies drawing closer and closer together through trade,” said David Carden, managing director, FedEx Express Thailand and IndoChina. “With growing attention on the ASEAN Economic Community which is expected to become a free trade economic bloc of more than 600 million people by 2015, FedEx recognises the future of the regional economy will rest in the hands of young people, such as these students.
“The FedEx/JA International Trade Challenge is an opportunity for young people to develop an awareness of how businesses thrive in the global marketplace, and help equip them to contribute to Vietnam’s, and the region’s, continued economic growth,” added Mr Carden.
“FedEx has been a great partner for Junior Achievement,” said M. L. Do Nam Thai , executive director of Junior Achievement Vietnam. “It’s hardly to say how great FedEx and their volunteers have been advocating for young people in Vietnam. They inspire and provide students with international exposure and invaluable learning by hands on experience and empower young generation to own their economic success”
As part of FedEx commitment to assist these budding entrepreneurs, FedEx employees volunteered as mentors and workshop consultants to help students by sharing their experiences working daily in global trade and by guiding them as they develop their trade projects.