Hanoi (VNS/VNA) - With just two months left until the end of 2022,enterprises have tried to find new suppliers and diversify sources of goods todevelop and serve the customers after a tough year.

After a tumultuous and challenging year for the global economy, the negativeimpacts of the COVID-19 pandemic caused many businesses to leave the market.However, others tried their best to stay and stabilise production, changingbusiness directions to adapt to the new situation.

Experts said those staying enterprises had provided training to equip theknowledge, quickly organise the re-training of the team, focused onrestructuring human resources, strengthening management skills and designingcontingency scenarios.

Enterprises had to prepare all resources in terms of capital, people and goodsto speed up production progress and rhythm. The sales and market developmentdepartment constantly added people and designed promotional programs orpreferential price policies to promote sales.

Dao Cong Lang, a representative of the An Binh Garment Export Joint StockCompany, said that the firm had almost completed its production and businessplan for 2022 and was designing and developing a plan for next year.

Due to the determination to invest, in a short time, An Binh had a recovery farbeyond expectations. Not only solving outstanding orders, the firm alsoreceived new orders for production, taking output to cover costs and creatingmore jobs and income for workers.

Lang told the media in a short time the firm had achieved business resultsexceeding the annual target, exploited some new markets, and found manysuppliers of raw materials for production. Currently, An Binh plans to investin a new potential field, expand the factory scale, and upgrade equipmentsimultaneously.

Lang said there were risks and opportunities at this time of the year. Ifbusinesses did not timely grasp and take advantage, creating a breakthrough togrow and develop strongly now, it would be extremely difficult for a highprobability at other times.

Truong Chi Thien, General Director of Vinh Thanh Dat, predicted from now untilthe new year, the price of poultry eggs would not change as egg productionwould be abundant, and the business was still able to meet the 50 per centincrease in consumer demand in December.

In Ho Chi Minh City, several products such as confectionery and beverages werealso being boldly set by many businesses with high output and sales targets. Inaddition, companies producing and trading poultry meat and eggs in manyprovinces and cities also completed the preparations at livestock farms andassociated farms to ensure the supply of goods to the market from now until theTet (Lunar New Year) 2023.

The Vietnam Animal Products Industry Joint Stock Company (Vissan) has alsoprepared a budget of about 710 billion VND (30.8 million USD) to reserve andproduce lunar new year's goods, an increase of 20% compared to the same periodin 2021.

According to the General Statistics Office, along with the optimism about thebusiness prospects in the fourth quarter of 2022, the business registration inthe first nine months also showed positive signs.

In the fourth quarter of 2022, businesses expect their business situation to beeven better than in the third quarter of 2022 when 48.7% of enterprises have apositive assessment, and 33.9% of enterprises think that the productionsituation is positive and business will be stable. Only 17.4% of businessesforecast more difficulties.

Although there are many signs of growth and recovery, according to a reportfrom the World Bank, Vietnam needs to be cautious with inflation risks relatedto food prices and basic commodities. In addition, although fuel prices havecooled recently, global fuel price volatility remains unpredictable.

In addition, the social assistance system needs to be strengthened, includingregistration, target selection and disbursement systems, to facilitate accessto the affected people.

The WB also pointed to a more serious deceleration than expected of Vietnam'sleading important trading partners as the main risk for the external economicsector. In addition, geopolitical tensions also increase uncertainty and cancause changes in trade and investment trends, affecting a highly open economylike Vietnam.

Earlier, Carolyn Turk, World Bank Country Director for Vietnam, also said thatto maintain economic growth at the desired rate, Vietnam needed to increaseproductivity by 2-3% per year.

International experience shows that productivity gains can only be achieved byinvesting in the education system, which is an important part of the necessaryinvestments and reforms package. She added that a competitive and productiveworkforce was what the country needed in the long term./.