Second National Press Forum in Vietnam elevates strategic vision for revolutionary press
HANOI: The second National Press Forum, which wrapped up in Hanoi on Friday (June 20), was a great success, opening up a creative space and elevating the strategic vision for Vietnam's revolutionary press as it advances alongside the nation, chairman of the Vietnam Journalists' Association Le Quoc Minh (pic) affirmed.
Minh, who is also Head of the Steering Committee for the National Press Festival 2025, said that the forum has become a remarkable highlight in the series of events commemorating the 100th anniversary of the Vietnam Revolutionary Press Day, drawing special attention from the press community and the public over the past two days.
He appreciated the dedication, enthusiasm, and strong commitment of nearly 70 speakers who contributed to the forum, affirming that the active participation of hundreds of delegates, including journalists, media agency leaders, press managers, journalism students, and media enthusiasts, resulted in 12 high-quality sessions.
Notably, the 10 thematic panel discussions were well-organised and methodically conducted, featuring highly topical themes and rich content that captured strong interest from both the press circle and the wider public.
Amidst a rapidly transforming world driven by digital technology, artificial intelligence (AI), and globalisation, Vietnamese journalism is facing unprecedented challenges, yet also tremendous opportunities, provided it can proactively adapt and innovate.
One of the most pressing challenges is the rise of social media video content and individually generated news, which poses a direct threat to mainstream media outlets.
This new era presents journalism with chances to reaffirm its leadership role.
In the context where AI dominates and produces vast volumes of content, the only sustainable path forward for journalism is to focus on high-quality content and core values.
Journalism must redefine its mission - not to report the fastest, but to provide the most profound and trustworthy value.
These pressing concerns were at the heart of discussions at this year's National Press Forum.
The forum served not only as a space for intellectual exchange and dialogue among journalists nationwide but also as a platform for exploring innovative approaches to transform Vietnamese journalism, aiming toward a truly professional, modern, and human-centered journalism in this era of the nation's rise, Minh added.
At the first session 'Vietnamese journalism in the new era: Vision for creating development space,' delegates and experts discussed challenges, opportunities as well as key solutions for the sustainable development of Vietnamese journalism.
Meanwhile, the session on AI and digital transformation strategy of Vietnamese newsrooms attracted many managers, experts, and journalists.
They shared the view that AI opens up unprecedented opportunities for the Vietnamese press and media industry from improving the content quality to increasing social impacts, helping newsrooms adapt to the digital era and meet the increasing information needs of the public.
At the fifth session on revenue in the digital age, speakers stressed that newsrooms must focus not only on producing quality content but also on securing sufficient funding to sustain operations.
Other sessions covered topics such as female leadership in journalism, strategies to engage Gen Z, how television is adapting to the new media landscape, and mechanisms to develop radio in the current context.
Notably, the 10th session on Resolution 18 and the requirement for innovation in press personnel attracted the public and journalists.
The resolution, aimed at streamlining the political system, called for a leaner press sector to enhance its effectiveness.
However, streamlining is not just about mergers, downsizing, or staff cuts.
It's also about optimising resources, minimising waste, and improving operational efficiency.
The process presents an opportunity for press agencies to innovate their organisational models, build convergent newsrooms, and modernise workflows. - Vietnam News/ANN
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Second National Press Forum in Vietnam elevates strategic vision for revolutionary press
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His evidence is that there are new licensees entering the industry who wouldn't do it if they couldn't make a living. 'Money changers won't go out of business,' said Rafik, while handling cash and paper receipts on a busy afternoon. Digital payment wallets may seem attractive now, but the companies also have overheads and may try to increase rates in the long run, he predicted. Right now, a thriving tourism industry is driving demand during the summer school holidays. Singapore is close to Southeast Asian holiday hotspots like Phuket in Thailand, Vietnam's Ha Long Bay and Bali, Indonesia, where cash is still needed to pay for food at street stalls or small restaurants, or to offer tips. Travelers with cash also avoid the higher exchange rates and foreign transaction fees imposed by many credit cards. Life Lesson For Christina Ng, a teacher in her 40s who came to Haleem's stall for Korean won, cash gives a sense of security while traveling. Paying with notes and coins is also a lesson for her three children. 'I want them to learn how to use the cash and do the transaction, so they need to see the physical money,' she said. 'We don't want them to just tap, tap, tap without actually knowing what they're spending on.' The money changers are good leading indicators of travel trends. Whereas demand used to be strongest for US dollars and Malaysian ringgit, the Japanese yen is now most sought-after, along with Korean won and Taiwanese dollars, Haleem said. A record number of tourists have flocked to Japan to visit historic sites, dine on sushi and take advantage of the weakened currency. At the Arcade, the money changers carve out an existence on the fringes of the multi-trillion dollar global foreign-exchange market. Customers throng the narrow passages to scrutinize buy and sell rates at tightly packed stalls, which are required to post rates on electronic screens. Frugality gives them an edge against the financial institutions that occupy the opulent towers surrounding Raffles Place, according to Rafik at Arcade Money Changers. The changers will survive even if digital platforms cut their margins to zero to gain market share, he said. Congregating in one location attracts more customers, but it also pares margins to the bone. Foreign currency bought at a commercial bank can cost 1% to 4% or more once you factor in a poorer exchange rate and transaction fees. At City Money Changers, it's a high-volume, low-margin business where Haleem typically makes fractions of a penny on the dollar in a swap. 'Everybody wants to see the best price so they will shop around,' he said, while taking a break from his tiny kiosk. 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The probe revealed inadequate risk management practices at the changer, and failure to identify the beneficial owners of funds. Money changers are now required to conduct customer due diligence measures for cash transactions exceeding S$5,000, or for those topping S$20,000 where the money is funded from an identifiable source like a bank account. That includes verifying customers' identities and keeping proper transaction records. The industry poses a 'moderate level' of money-laundering threats due to its cash-intensive nature, said a spokesperson for the MAS, the country's financial regulator. Haleem, who's been at this trade for 40 years, concedes that the future isn't all bright for his industry. Business is about half that of pre-Covid levels, and the increased competition is eroding margins, while wild currency swings can leave him sitting on devalued cash overnight. He predicts the trend toward digital payments is only going to accelerate. 'It will become worse and worse,' he said, though he thinks there will always be a little room in people's wallets for cold hard cash. One floor up at Crown Exchange, Thamim A.K., a money changer in his 60s, is more sanguine. Sitting in a backroom surrounded by wads of Korean won and Indonesian rupiah, he says his 40 years of trading, with all its ups and downs, gives him hope for the future. 'I've seen everything, all the currencies, fluctuations,' Thamim said. 'The bank notes business is still there. It's growing, in fact. It's fighting with digital.' –BLOOMBERG
