The reality of traditional craft villages development in Vietnam from a financial perspective
Abstract
In Vietnam, traditional craft villages represent a specific type of production and business that promotes local resources and leverages the comparative advantages of each regional area. Thereby, this field supports creating employment opportunities, increasing income, and improving the livelihoods of the local population. Based on the characteristics of scale, structure, and the production and business features of traditional craft villages, our research group has examined the reality of traditional craft village development in Vietnam and proposed solutions from a financial perspective including: (i) Capital mobilization, (ii) Revenue and profits, and (iii) Costs. The research results reveal spontaneous and small formation and development; small-scale capital, manual production equipment, outdated technology, low efficiency in fuel utilization, limited production grounds of traditional craft villages resulting in low business performance for some; products often lack competitiveness due to their monotonous designs; high production costs are incurred due to manual production methods; and the export market is limited in scope.
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References
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