Extraordinary Endeavors in Turbulent Times: Asian Innovation, Inclusion, and Impact during COVID-19

ASIA BUSINESS COUNCIL HONG KONG UNIVERSITY OF SCIENCE AND TECHNOLOGY 2 7 DatVietVAC Group Holdings (Vietnam) Extraordinary Endeavors in Turbulent Times Given its dominance in traditional media, DatVietVAC also aspires to build robust digital platforms: these will be anchored by proprietary intellectual property from within the group, and enhanced by curated external material, including user-generated content (UGC). This content will form the basis of two types of product offerings: entertainment services , which will encourage consumers to “Watch, Listen, Read, Talk, and Play” in the Vie ecosystem; and influencer services , which are plans for e-commerce and a celebrity services marketplace. On the entertainment side, DatVietVAC’s flagship product VieON addresses the “Watch” component, and VieZone, a recently launched online news platform, will address the “Read” component. The plan is to continually add other components such as comics, books, podcasts, as well as interactive chat platforms. While its Influencer segment is younger, DatVietVAC has made solid preparations to expand into online retail after a successful merchandising pilot under VieSHOP, with a launch underway for a platform offering personalized content from celebrities who are scheduled to appear in shows in the next quarter. Overall, the group’s approach to business expansion is twofold: DatVietVAC will continue to create or acquire companies that complement its existing platform, while remaining committed to investments in content as the foundation and strength of its commercial offerings. DatVietVAC is also under no illusions that it is going alone: Its communities include those acquired through partnerships with social platforms such as YouTube and Facebook, as well as strategic collaborations with leading local news sites. Thanh’s vision is a convergence of a community of “influencers to influence,” the audience of which then amalgamates into a large VieCommunity. Conclusion Thanh is keenly aware that the current way of life “makes all of us a part of the world of media, entertainment, and technology.” But he also believes that tech is not everything, and that there needs to be a human element. At a time when he believes social media is simply used for self-expression, he wants his group to “lead the responsible media movement, to help inspire and encourage good thoughts and healthy habits, and to be part of efforts against the seven social sins.” 6 As Nam Phuong explained, “The idea is to shape a community with positive, reliable content, rather than simply cheap laughs and sensationalist thrills, while making sure that it is neither pretentious nor overly contrived.” Indeed, DatVietVAC positions itself as a company that uses technology as a vehicle to inspire human aspiration. At the end of the interview, a reflective Looking forward, Thanh envisions DatVietVAC as a leading technology company in the media and entertainment space... The company plans to invest heavily in Big Data and Predictive Analysis; it is in the process of setting up a dedicated Artificial Intelligence and Tech Lab at the Group level and is looking to enter more businesses borne out of data...