Ethical journalism and responsible businesses are key for the media to help Hanoi live up to its reputation as a cultured, modern, civilized and sustainable metropolis, a forum heard today (May 31).

Hanoi People's Committee Vice Chairman Ha Minh Hai (fifth from left) meets with local entrepreneurs. Photo: Thanh Hai/The Hanoi Times

Ha Minh Hai, Vice Chairman of the Hanoi People's Committee, said that the foundation of Hanoi's sustainable development is its people and culture. Therefore, the capital needs capable businesses, media, and entrepreneurs who have a constructive social impact.

"Enterprises and the media should work together as the city would benefit from your healthy association," Hai said at the forum, which discussed the relationship between the media and the business community for sustainable development.

The Hanoi official said that as partners, the media report on the activities of companies, communicate their challenges and legal obstacles, and put pressure on regulators to remove hurdles that impede business operations.

"In the era of global integration, media and enterprises go hand in hand," said Vice Chairman Hai. "We can say that the media is a partner, a customer, and an engine for the growth of local enterprises."

"We can say that the relationship between media and companies is one of cooperation, commitment, sharing for mutual development based on good ethics for the sustainable growth of capital".

He hoped that both would join hands and make the best efforts to develop Hanoi into a destination worth living in and visiting, with distinctive features of rich culture, global integration, sustainable development, and peace and prosperity.

Deputy Chairman of the Hanoi People's Committee Ha Minh Hai delivers his speech at the forum. Photo: Pham Hung/The Hanoi Times

After 40 years of economic renovation, Vietnam has cultivated a generation of entrepreneurs who are more competent and have made significant contributions to the country's socio-economic development, especially in light of the global challenges the world has faced in recent years.

With great efforts and hard work, Vietnamese enterprises are now present in almost all known industries, including those traditionally dominated by foreign companies. Many are now popular exporters, reaching out to international markets and promoting the Vietnamese brand.

Nguyen Thanh Loi, a member of the Standing Committee of the Vietnam Journalists Association and Editor-in-Chief of Kinh te & Do thi (Economic & Urban Newspaper)/The Hanoi Times, the host of the forum, said that a company must consider social responsibility as one of its long-term priorities, along with product, price, location, and promotion.

"The fact that communication is an important and critical factor in business operations requires the company to work with the press to share accurate, truthful, and honest information," he said.

Media agencies and businesses have a supportive and collaborative relationship, according to Loi. Newspapers act as a bridge between businesses and government agencies, leading to policy changes that improve the performance of both sides, while the media helps businesses study the market, competitors, and customers, and come up with proper business plans.

Nguyen Thanh Loi, Editor-in-Chief of the Economic & Urban Newspaper, speaks at the forum. Photo: Thanh Hai/The Hanoi Times

Media as part of business and policy success

Speaking at the Forum, Nguyen Duc Kien, former head of the Prime Minister's Economic Advisory Team, emphasized the role of the media in the success of policies.

The media and business forum hosted by Kinh te & Do thi (Economic & Urban) Newspaper on May 31. Photo: Pham Hung/The Hanoi Times

"In more than 40 years in politics, I've seen many instances where newspapers are the party that decides whether a policy works or not," he said.

"Without the media leading public opinion, people would hardly agree with and support the policies of regulatory agencies."

"On the other hand, the media are capable of killing an idea as soon as they find it unreasonable and irrational," Kien said.

Vu Thanh Son, General Director of Hanoi Trade Corporation (Hapro), said that the company's efforts to gain a deep understanding of pricing, market expansion, retail and distribution, access to new technologies, and corporate governance renovation include participating in forums like this one organized by newspapers.

According to Vo Tri Thanh, former Director of the Institute for Brand and Competitive Strategy, media companies have a wide network of social connections.

"This gives the media a double-edged sword. If they use social connections as a power to gain advantage, it could dampen the growth of businesses," he warned.

Thanh urged every journalist to follow the rules of professionalism and ethics and update their knowledge to report with a high level of accuracy and truth.

"Economic & Urban Newspaper should become the leading media enterprise and have a positive impact on society and the people, encourage them to do good deeds, take professionalism and social responsibility as the main cause for Hanoi to live up to the expectations of the nation," Thanh said.