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VIETNAM ACADEMY OF SOCIAL SCIENCES GRADUATE ACADEMY OF SOCIAL SCIENCES DO VAN DUNG ENHANCING THE COMPETITIVENESS FOR TRAPHACO JOINT STOCK COMPANY IN THE PROCESS OF INTERNATIONAL ECONOMIC INTEGRATION Major: Business Administration Major code: 9.34.01.01 PHD THESIS SUMMARY BUSINESS ADMINISTRATION HANOI - 2019 THE RESEARCH IS COMPLETED AT VIETNAM ACADEMY OF SOCIAL SCIENCES Scientific Supervisor 1: Assoc Prof Chu Duc Dung Educational Institution: Institute of World Economics and Politics Scientific Supervisor 2: Prof PhD Nguyen Thiet Son Educational Institution: The Institute of Southeast Asian Studies Reviewer 1: Assoc Prof Nguyen Xuan Dien Reviewer 2: Assoc Prof Doan Ke Bon Reviewer 3: Assoc Prof Nguyen Chien Thang The PhD Thesis is protected before the Academy-level thesis Dissertation Council meeting at Graduate Academy of Social Sciences – Vietnam Academy of Social Sciences at hour…minute, day…month… 2019 The thesis can be found at: - National Library of Vietnam - The Social Science Library INTRODUCTION The urgency of the topic In the current context, competitiveness and competitiveness have become an important issue for any business When the economy grows faster, the process of international economic integration is deeper and stronger, requiring indigenous enterprises to participate in competing with international enterprises right on their national territory Enterprises in the pharmaceutical industry play an important role in the field of care and protection of public health and a major contribution to national economic development However, being an industry with its own characteristics of products, production technology, customer market and state management, so the development of pharmaceutical enterprises is quite sensitive to the reactions of the market The socio-economic development has strongly led to the higher and more diversified demand for pharmaceutical products, and pharmaceutical enterprises have many development opportunities but also many challenges The challenge of pharmaceutical enterprises is the increasing level of competition in the rapidly changing business environment, each business not only competing with domestic businesses or products but also competing with businesses Foreign, imported products Compared to other businesses, the competitive criteria of pharmaceutical companies are getting higher and more diverse In Vietnam, the consumption of pharmaceutical products depends largely on the physical, psychological characteristics of customers and markets, so to dominate the competition, pharmaceutical companies need to be cautious when determine the selection of competitive tools and criteria Traphaco Joint Stock Company (Traphaco) is one of the few most prestigious pharmaceutical enterprises in Vietnam for many years, according to the evaluation report of Vietnam Assessment Report Joint Stock Company over the years, Traphaco There have been certain great contributions in Vietnam's pharmaceutical industry However, in recent years, the number of pharmaceutical enterprises has been increasing, including foreign pharmaceutical manufacturers Although it is a large and reputable enterprise in Vietnam, Traphaco itself needs to quickly assess and recognize the competitive and advanced capabilities in the face of increasing competitive pressures from big competitors Its competitiveness to find answers to questions about what to to survive and develop sustainably in the next phase In-depth research on improving competitiveness of Traphaco is the basis for the company to continue to find new solutions to improve its competitiveness In addition, this study also helps domestic researchers, experts, leaders, managers to better understand the status of improving competitiveness, about the difficulties that Traphaco and other Other pharmaceutical businesses are facing in current conditions At the same time, suggest and recommend to the State and the pharmaceutical management agency to make appropriate policies and support more for the sustainable development of pharmaceutical enterprises Therefore, the author chose the topic "Enhancing the competitiveness of Traphaco Joint Stock Company in the process of international economic integration" as his doctoral research topic The research results will directly help the management and managers of Traphaco understand the situation, have more optimal solutions to improve the competitiveness, further contribute to the development of the Vietnam’s pharmaceutical industry in the period of international economic integration Purpose and mission of research: Focus on clarifying the status of activities to improve competitiveness of Traphaco Joint Stock Company, find out the causes of the limitations, propose some solutions and recommendations to raise higher competitiveness for Traphaco in the period of international economic integration Object and scope of the study 3.1 Object of research: To enhance the competitiveness of Traphaco Joint Stock Company 3.2 Scope of research: (1) About research time: The dissertation analyzes the current situation of case study of Traphaco for years from 2014-2018 Proposing solutions and recommendations to further improve the competitiveness of Traphaco's vision to 2030; (2) About the survey subjects: The dissertation solicits opinions of two groups of subjects: Traphaco's employees and managers are the owners of drugstores distributing Traphaco's products in all three regions of North, Central and South Research Methods Common research methods used include: descriptive statistics; analysis, synthesis, comparison; expert interview; qualitative research and quantitative research New contribution to the science of the thesis The thesis has systematized the arguments on research issues and given its own views on competitiveness and competitiveness By the method of expert interview, group discussion, the thesis presents its own views on activities to improve the competitiveness of pharmaceutical enterprises and the evaluation criteria Enhancing the competitiveness of pharmaceutical enterprises not only focuses on improving resources: Finance; Management and administration capacity; Quality of personel; Level of machinery and technological equipment; But also improve the research and development capacity; Ability to create relationships and especially enhance corporate culture The thesis has studied and learned experiences to improve the competitiveness of a number of international pharmaceutical companies and corporations and learned lessons for Traphaco Joint Stock Company and Vietnamese pharmaceutical enterprises Improving competitiveness is the new research content for Traphaco Joint Stock Company in the context of international economic integration Research results have pointed out some difficulties and limitations on improving competitiveness related to: (i) Financial mobilization capability; (ii) Activities of promoting initiatives and improvements of human resources; (iii) Marketing and communication capacity; (iv) Building relationships with investors; (v) Research and development work The thesis proposes a number of key solutions to further improve the competitiveness of Traphaco Joint Stock Company, in which, the new solution is suitable to the current practical context that needs to focus on improving Marketing capacity Development of new products; Developing distribution channels; Enhancing communication is the focus of this solution The scientific and practical significance of the thesis Through analyzing the topic to contribute a part of the theory about capacity building of pharmaceutical enterprises The dissertation analyzes and evaluates the current situation of high-quality research of Traphaco, proposes solutions and recommends to improve the competitive capability for Traphaco in the period of international economic integration Structure of the thesis In addition to the introduction, conclusion, list of references, appendices, the thesis includes five chapters: Chapter 1: Overview of research projects related to the topic; Chapter 2: Theoretical and practical basis for improving the competitiveness of pharmaceutical enterprises; Chapter 3: Research methods; Chapter 4: Current situation of improving competitiveness of Traphaco Joint Stock Company; Chapter 5: Solutions to improve competitiveness for Traphaco Joint Stock Company CHAPTER 1: OVERVIEW OF RESEARCH WORKS RELATED TO THE TOPIC 1.1 Overview of research situation in the world 1.1.1 Research works on enterprise’s competitiveness The theme of competitiveness and how to improve the competitiveness of businesses in the period of economic integration is studied by many scientists around the world Especially, the authors are outstanding with studies such as Birger Wernerfelt (1984); Porter (1985); Sriyan De Silva (1998); Kumar Jain, Upinder Dhar (2007); Ramona Todericiu and Alexandra Stanit (2015); Dhirendra Kumar (2016) In general, the authors' studies mainly analyze and evaluate the competitiveness according to different approaches, about businesses in developing countries The common point of the research is that the competitiveness of enterprises is factors related to the internal resources of the enterprise, the capacity of the leader and the ability of the enterprise to use the input effectively, meet market needs 1.1.2 Overview of research works related to factors affecting the competitiveness of enterprises In the world, there are many studies on factors affecting the competitive competence of enterprises such as Ambastha and Momaya (2004); Chi Kun, Ho (2005); Thompson, Strickland & Gamble (2007); Sauka (2015),… 1.2 Overview of domestic research on competitiveness 1.2.1 Overview of research projects on national competitiveness and business Competitiveness of the industry is one of the topics analyzed and evaluated by many researchers, in which the outstanding researches of the authors are: Nguyen Dinh Long (1999); Than Danh Phuc (2001); Chu Van Cap (2003); Vu Hung Phuong (2008); Bui Duc Tuan (2010); Tran Thi Anh Thu (2012); Nguyen Hong Chinh (2017) In general, studies on national competitiveness and industry are evaluated by the authors in different ways and on different areas These studies mainly analyze and summarize the theoretical basis of the competitiveness of the industry and the country, analyze the factors affecting the competitiveness of the industry and country; Assess the current state of competitiveness of one industry and those countries Since then, the research offers solutions to strengthen the overall competitiveness of the industry and the country 1.2.2 Overview of research projects on competitiveness of enterprises In recent years, there are many research projects at ministerial level, doctoral dissertation, master's dissertation that have studied the topic of competitiveness and competitiveness for businesses The studies mainly analyze the current situation of competitiveness of research subjects, this is an important basis for researchers to propose solutions to improve competitiveness for businesses Typically, the research of the authors such as: Nguyen Vinh Thanh (2005); Vu Trong Lam (2006); Nguyen The Nghia (2007); Pham Van Cong (2009); Pham Thu Huong (2017) 1.2.3 Overview of domestic research projects on competitiveness of pharmaceutical enterprises Research on competitiveness in the pharmaceutical industry has been interested by many researchers and economists, especially some remarkable projects such as: Phan Thi Thanh Tam (2012); Ta Thi Thanh Mai (2015); Bui Van Dung (2016) In general, the research on competitiveness of pharmaceutical companies clarifies the theoretical basis of competitiveness, business analysis and the actual competitiveness according to SWOT matrix Thereby, the research proposes solutions to improve competitiveness for pharmaceutical enterprises in particular and Vietnam's pharmaceutical industry in general However, these studies have some limitations such as in-depth analysis of the problem, the analytical data of the studies and solutions presented in these studies are obsolete in time, due to Therefore, the applicability of the studies has been somewhat limited 1.3 Summary of research results on the competitiveness of published works On the basis of an overview of domestic and international researches related to the topic of competitiveness, most studies have clarified the theoretical basis of competitiveness, influencing factors to the competitiveness of research subjects Since then, the research proposes solutions to improve the competitiveness of the country, the industry and businesses through the assessment of the situation of competitiveness of the objects 1.4 Research orientation of the topic The results of analysis of domestic and foreign studies on the topic of competitiveness indicate that the competitiveness of pharmaceutical companies has been analyzed in previous studies, but not yet deep and Analytical data in the period before 2015 Moreover, the research results of previous works are valuable in a certain period In the current period, there has not been any in-depth analysis of the enhancement of the edge of Traphaco Joint Stock Company In particular, in the context of international economic integration today, the business environment is constantly changing and changing constantly, requiring timely solutions suitable to the actual conditions to raise High competitiveness of Traphaco in the future Therefore, the author directed his research to study the issue of improving competitiveness for Traphaco Joint Stock Company during the period of international economic integration to solve a part of the gap in previous studies CHAPTER 2: THEORETICAL AND PRACTICAL BASIS ON ENHANCING COMPETITIVENESS OF PHARMACEUTICAL ENTERPRISES 2.1 Theoretical basis of competitiveness of pharmaceutical enterprises 2.1.1 Theoretical basis of enterprise competition 2.1.1.1 Competitive concept: is the ability to maintain and improve the competitive advantage of enterprises in the consumption of products, expanding the distribution network, attracting and effectively using production factors to gain benefits High and sustainable economic benefits 2.1.1.2 Role of competition: Competition between actors plays an important role in the development of the economy, businesses and consumers 2.1.2 Theoretical basis of competitiveness 2.1.2.1 Competitive advantage: According to Michael Porter (2009): "Competitive advantage is what makes a business stand out or different from its competitors." 2.1.2.2 Competitiveness: The ability to effectively exploit, manage and use the resources of the business to maintain and develop a competitive advantage higher than competitors in satisfying the needs of customers aim to achieve sustainable production and business efficiency under changing business environment 2.1.3 The concept of international economic integration: According to Do Duc Binh and Nguyen Thuong Lang (2008): "International economic integration is the cohesion of the economy of each country into regional economic cooperation organizations and global, in which member countries are bound by the general rules of the whole block In general, international economic integration is the process of countries implementing open economic models, voluntarily participating in international institutions and finance, facilitating and business; (2) Provide more valuable products, and (3) Streamline the operating system 2.4.2 Experience of Sanofi-Aventis Pharmaceutical Joint Stock Company - France Sanofi Pharmaceutical Joint Stock Company - Aventis is one of the largest pharmaceutical companies in France Succeeding on the path of building a prestigious brand name and improving the competitiveness of Sanofi-Aventis Pharmaceutical Company is due to the company focuses on a number of strategies such as: (1) Improve the quality of human resources force through policies for recruiting young talents, special training and career development for employees; (2) Improve marketing capacity by improving the quality of special treatment products, diversifying product categories; (3) Improve research and development capacity and (4) Improve corporate culture 2.4.3 Experience of some Chinese pharmaceutical enterprises China is the second largest pharmaceutical market in the world, thanks to its large population and high medical needs To promote the pharmaceutical industry to develop strongly in the period of international integration The Chinese government has issued various guidelines, policies and measures to support domestic pharmaceutical enterprises to improve their competitiveness in marketing capabilities and create relationships Some typical pharmaceutical enterprises with strong support from the Chinese Government include: Sinopharm Group, GenScript Biotech Corporate, BeiGene, Jiangsu Hengrui Medicine, Yipinhong pharmaceutical 2.4.4 Lessons to enhance competitiveness for Vietnamese pharmaceutical companies Firstly, it is necessary to enhance management and administration capacity, innovate in governance, apply technology to effective operation and management 11 Secondly, it is necessary to enhance the quality of human resources to promote attraction and development of talents Strengthening skills training and development plays an important role to improve the competitiveness of businesses Thirdly, it is necessary to enhance marketing capacity through improving the quality and diversity of drug products to meet the needs of prevention and treatment for people Fourthly, it is necessary to enhance the capacity of establishing relationships, strengthening the construction, maintaining and developing good relationships with employees, customers, partners and local government agencies Fifthly, it is necessary to improve research and development capacity, invest in modern production technology, expand research and development centers globally Sixthly, it is necessary to improve corporate culture, focus on building own cultural values and enhancing participation in social activities CHAPTER 3: RESEARCH METHOD The thesis uses a combination of both qualitative and quantitative research methods 3.1 Qualitative research Qualitative research methods are used in the exploratory research phase Research secondary documents in combination with some experts in the pharmaceutical industry and some leaders and managers of Traphaco to discover, adjust and clarify some contents such as: (1) The activities to improve the competitiveness of pharmaceutical enterprises; (2) Factors affecting the competitiveness of pharmaceutical companies; (3) Evaluation criteria to enhance competitiveness of pharmaceutical enterprises This method is done through in-depth interviews with questions and questions prepared in advance (Annexes 01 and 02) Qualitative research period is conducted in months, from 12 June 2017 to September 2017 The qualitative research process is expressed in basic steps: (1) Overview of research materials; (2) Develop an in-depth interview with experts and conduct interviews; (3) Develop and develop a scale of evaluation criteria to improve the competitiveness of pharmaceutical enterprises; (4) Summarize the scale of criteria to improve competitiveness of pharmaceutical enterprises; (5) Develop survey forms 3.2 Quantitative research Official quantitative research is the method used to test the scale and measure the status of improving competitiveness of Traphaco This is the official research phase implemented through surveying groups: the Board of Directors, Traphaco management staff and customer groups 3.2.1 Design of research samples Thirsty samples were selected according to the research of the author including: 65 leaders, managers of Traphaco and 556 customers who are the pharmacy owners of Traphaco Statistics of the number of questionnaires are described in Table 3.5 underneath Table 3.5 Statistics of survey questionnaires Number of Respondents Management board and management staff Customer Total Number of Number of valid questionnaires questionnaire questionnaires issued s collected (number of (number of (number of surveys) Rate of surveys) res (%) surveys) collected / issued questionnai 80 75 65 90 1000 850 556 85 1080 925 621 Source: Survey results 13 3.2.2 Evaluate the reliability of the lift evaluation criteria scale High competitiveness of pharmaceutical companies To assess the reliability of the scale, the study conducted analysis of Cronbach’s Alpha coefficients for each group The Cronbach’s Alpha coefficient is a parameter to check the reliability of observed variables in the research model, including a data set of concepts In this study, the correlation variables with total variables =0,6 3.2.3 Data processing Collected data is processed by SPSS software version 20.0 CHAPTER 4: CURRENT SITUATION TO IMPROVE THE COMPETITIVENESS OF TRAPHACO JOINT STOCK COMPANY 4.1 General introduction about Traphaco Joint Stock Company 4.1.1 General overview of Traphaco Joint Stock Company 4.1.2 Organizational structure of Traphaco Joint Stock Company 4.2 Current situation of improving competitiveness of Traphaco Joint Stock Company 4.2.1 Current situation of improving financial capacity Improving financial capacity is an important activity that promotes sustainable business development and enhances competitiveness for businesses Results of leadership and managerial survey are described in Table 4.2 underneath 14 Table 4.2 Results of financial capacity enhancement Improve financial capacity Medium Variance Traphaco enhances financial transparency 3.75 0.757 Traphaco has safe payment ability for partners 3.83 0.838 Traphaco actively mobilizes financial efficiency 3.55 0.724 Medium score 3.71 Source: Author's survey results - 4.2.2 Current status of management and management capacity improvement The survey results on criteria to improve management and administration capacity are described in Table 4.7 below is as follows: Table 4.7 Results of management and management capacity enhancement Improve management and operating capacity The leadership of Traphaco actively enhances professional qualifications and management capacity The leadership of Traphaco actively explores domestic and international practices and laws in the pharmaceutical business The leadership of Traphaco actively participated in intensive training courses and participated in associations The leadership of Traphaco enhanced and improved the organizational management mechanism The leadership of Traphaco develops an effective control system Medium Varianc e 4.17 0.617 4.15 0.724 4.09 0.615 4.65 0.736 4.20 0.734 Medium score 4.25 Source: Author's survey results 15 - 4.2.3 Status of improving the quality of human resources The survey results to improve the quality of human resources at Traphaco are described in Table 4.8 below Table 4.8 Results of improving human resources Medium Variance Improve the quality of human resources Traphaco strengthens training and development human Resources Traphaco develops solid and professional culture Traphaco completed the remuneration policy for human resources Traphaco strengthens activities to promote innovation of human resources Medium Score 3.65 0.657 3.45 0.738 3.70 0.824 2.85 0.665 3.41 - Source: Author's survey results 4.2.4 Current status of marketing capacity improvement Results of survey of management board and management staff as shown in table 4.11 below Table 4.11 Results of marketing capacity improvement Improve marketing capacity Traphaco always focuses on improving product quality Traphaco focused on investing in new products Traphaco builds a suitable price strategy for customers Traphaco promotes sales promotion activities Medium Variance 4.85 0.757 4.13 0.838 3.75 0.724 4.55 0.805 Traphaco focused on building strong 4.83 reputation, image and brand Traphaco developed an effective distribution 4.85 channel Medium Score 4.49 Source: Author's survey results 16 0.924 0.924 Customer survey results on marketing capacity improvement for the result table 4.14 below: Table 4.14 Results of marketing capacity improvement Improve marketing capacity Traphaco always focuses on improving product quality Traphaco focused on investing in new products Traphaco builds a suitable price strategy for customers Traphaco increased investment in sales promotion effectively Traphaco focused on building a strong reputation and brand Traphaco developed an effective distribution channel Medium Variance 3.55 0.635 2.98 0.735 3.05 0.628 3.35 0.915 3.83 0.823 3.25 0.768 3.33 Medium Score Source: Author's survey results 4.2.5 Status of improving equipment and technology level Survey results on improving equipment and technology level of Traphaco, show that this activity is highly appreciated by the surveyor about the initiative and the frequency of application of science and technology in accordance with the production conditions export, specific products, and in accordance with the skill level of workers in production However, the results of activities forming science and technology funds have not been appreciated 4.2.6 Status of capacity building relationship Survey results on improving the ability to establish relations show that Traphaco actively actively builds and develops good relationships with customers, suppliers and related parties The analytical results are gathered in Table 4.16 as follows: 17 Table 4.16 Results of capacity building relationships Improve the ability to create relationships Medium Traphaco builds good relationships with customer Traphaco actively participates in the association branch Traphaco actively cooperates with other businesses Traphaco focuses on establishing good relationships with related parties Medium Score Variance 4.15 0.757 3.43 0.838 3.59 0.72 3.65 0.80 3.70 - Source: Author's survey results 4.2.7 Actual situation of research and development capacity improvement Survey results on improving research and development capacity of Traphaco show that average scores are assessed on indicators at lower levels than those of Other contain It can be seen that the role of research and development activities has not been properly invested due to the lack of resources such as capital, human resources, technology , while these are the competitive advantages of Pharmaceutical enterprises come from abroad Therefore, in order to improve research and development capacity, the cooperation with foreign pharmaceutical enterprises is a suggestion that will help Traphaco take advantage of its partners, further improve product quality, reputation and Competitiveness in the pharmaceutical market 4.2.8 Reality of improving corporate culture Survey results of leaders and managers on improving Traphaco's corporate culture show that the leadership and managers assess the average of the criteria of the group of enhancing corporate culture higher than Other indicators 18 Traphaco's customer survey results on cultural enhancement also have similarities with those from management and managers The average score of customers assessing these activities ranged from 3.85 points to 4.40 points 4.3 Overall assessment on improving competitiveness of Traphaco Joint Stock Company 4.3.1 Achievements to improve competitiveness of Traphaco Traphaco is a company with strong financial capacity, good management and operation level of Traphaco, always focusing on improving the quality of human resources, building a brand image and a strong reputation and development Good relationships with customers, partners, suppliers and relevant agencies and focus on developing corporate culture 4.3.2 Limit the competitiveness of Traphaco Improving the competitiveness of Traphaco in the past period also encountered some difficulties in activities such as: The ability to mobilize finance, activities to promote innovation of human resources, communication work, develop science and technology fund, build relationships with investors and businesses in the same industry and research and development 4.3.3 Reason From the limitations in improving competitiveness of Traphaco, there are many possible causes from within the enterprise (subjective cause) and many causes of policies and regulations from the State and the pharmaceutical management agency (objective cause) 19 CHAPTER 5: SOLUTIONS TO IMPROVE COMPETITIVENESS FOR TRAPHACO JOINT STOCK COMPANY IN THE PROCESS OF INTERNATIONAL ECONOMIC INTEGRATION 5.1 Economic context and orientation to develop Vietnam's pharmaceutical industry 5.1.1 International economic integration and requirements to improve the competitiveness of Vietnam's pharmaceutical industry by 2030 Vietnam's international economic integration is set out by the Sixth Congress of the Communist Party of Vietnam on the basis of innovation and "openness" of the economy and foreign policy of multilateralism, multi- internationalization of international relations Since then, along with the common development of the country, our economy has increasingly integrated into the regional and world economies, this is evident by joining and implementing the commitments associated with many international organizations, characterized by ASEAN (1995), APEC (1998), WTO (2007), TPP (2015) In recent years, international economic integration plays an important role in the socio-economic development of the country, but also poses many challenges to the existence and development of enterprises in the general industry and pharmaceutical companies in particular by the entry of competitors from abroad 5.1.2 Development orientation of Vietnam's pharmaceutical industry 5.2 Orientation to improve competitiveness of Traphaco in the period of 2019 - 2030 5.2.1 Development objectives of Traphaco 5.2.2 Orientation to improve competitiveness of Traphaco 5.3 Solution to improve competitiveness for Traphaco Joint Stock Company 20 5.3.1 Solutions to improve financial capacity Enhancing financial capacity plays an important role to ensure Traphaco realizes its sustainable development goals and contributes to improving the competitiveness of businesses From the orientation to improve competitiveness and the status of improving financial capacity of Traphaco, it is analyzed in Chapter 4, according to the author, Traphaco needs to focus on some financial solutions as follows: Firstly, Traphaco needs to increase the scale of capital for production and business Secondly, Traphaco needs to develop an effective debt settlement plan Thirdly, Traphaco needs to focus on reducing inventory 5.3.2 Solutions to improve the quality of human resources Human resources are the natural resources of every business Human resources that are sufficient in quantity and constantly improved in quality bring great competitive advantages to businesses Traphaco needs to further improve the quality of human resources through the following solutions: Firstly, increase the learning benefits for human resources Secondly, promote innovation of internal human resources 5.3.3 New product development solution 5.3.4 Solution of developing distribution channels First, Traphaco needs to continue to expand and develop new distribution channels OTC and ETC Secondly, Traphaco needs to implement a socialization strategy to distribute health care and protection products to people 5.3.5 Solution to enhance communication Firstly, enhance the experience for drug consumers by investing in the research and development of the Consumer App Store and completing the E-commerce Website Secondly, strengthen word of mouth marketing 21 Thirdly, Traphco needs to continue to implement integrated communication activities 5.3.6 Some other solutions Firstly, improve the capacity to establish relationships with customers and stakeholders Secondly, improving research and development capacity by continuing to develop Greenplan project, strongly developing science and technology fund, strengthening cooperation with big partners, Thirdly, improve corporate culture empowering employees, need to further strengthen the implementation and implementation of annual messages 5.4 Request 5.4.1 Proposals for the State 5.4.2 Proposing to the Drug Administration CONCLUSION Enhancing competitiveness is an important activity for pharmaceutical enterprises in general and Traphaco Joint Stock Company in particular in the fierce competition in the pharmaceutical industry Studying the topic: "Enhancing the competitiveness of Traphaco joint stock company in the process of international economic integration", the thesis has made important contributions in terms of theory and practice as follows: Firstly, the dissertation synthesizes expert opinions, adds and gives its own views on improving competitiveness and the criteria to improve competitiveness of Traphaco Joint Stock Company, including activities : (1) Improve financial capacity; (2) Improve management and administration capacity; (3) Improve the quality of human resources; (4) Improve marketing capacity; (5) Improve the level of machinery and technological equipment; (6) Improve the ability to create relationships; 22 (7) Improve research and development capacity; (8) Improve corporate culture Secondly, the thesis researches and learns experiences to enhance the competitiveness of some international pharmaceutical enterprises and draws lessons for Vietnamese pharmaceutical enterprises in general and for Traphaco in particular Thirdly, the thesis uses a combination of different research methods with diverse sources of documents and data to deeply analyze the status of activities to improve competitiveness of Traphaco Fourthly, analyze and understand the economic context, orientation of Vietnam's pharmaceutical industry in the coming years At the same time, find out the orientation to improve the competitiveness of Traphaco in the period of 2019-2030 as a basis for building solutions to improve competitiveness of Traphaco Fifthly, propose solutions to improve competitiveness for Traphaco in the period of international economic integration In the proposed solutions, the author emphasized a number of solutions such as: (1) Solutions to improve financial capacity, focusing on increasing the scale of capital for production and business activities; (2) Solutions to improve the quality of human resources, with a focus on increasing benefits for human resources; Promoting innovations of internal human resources; (3) New product development solutions, which focus on developing special treatment products; (4) Solution to develop distribution channels, focusing on developing OTC, ETC distribution channels and socializing distribution for some health care and protection products; (5) Solutions to enhance communication, with a focus on enhancing the experience for consumers and enhancing word-of-mouth marketing and other solutions In addition, the author also proposed some recommendations to the State, the pharmaceutical industry management agency joined hands, contributing to create a favorable 23 legal corridor for the development of Vietnam's pharmaceutical industry to reach international level However, due to limited time and knowledge, the author has not been able to test research hypotheses with complex mathematical models and econometric models to analyze the influence of each factor to improve competitiveness This will be the next research direction of the author after completing this thesis Regarding the issues raised in the dissertation, the author has tried to solve and hope to be able to resolve thoroughly, but not inevitable defect Therefore, the author hopes to receive a sincere contribution to the thesis to be more complete Sincerely thank./ 24 LIST OF RESEACHS HAVE PUBLISHED BY THE AUTHOR Do Van Dung 2018 "Experience to improve the competitiveness of a number of international pharmaceutical companies: Lesson learned to apply to Traphaco Joint Stock Company", Journal of Social Sciences Human Resources, Vol, page 60-66 Do Van Dung 2018 "Enhancing the competitiveness of Traphaco Joint Stock Company during the period of international economic integration", Indian and Asian Journal, No 10/2018, page 71-77 ... financial capacity enhancement Improve financial capacity Medium Variance Traphaco enhances financial transparency 3.75 0.757 Traphaco has safe payment ability for partners 3.83 0.838 Traphaco actively... capacity improvement for the result table 4.14 below: Table 4.14 Results of marketing capacity improvement Improve marketing capacity Traphaco always focuses on improving product quality Traphaco. .. management capacity enhancement Improve management and operating capacity The leadership of Traphaco actively enhances professional qualifications and management capacity The leadership of Traphaco actively