At the event (Photo: VNA) Hanoi (VNA) – The e-magazine “Doanh nhan Vietnam”(Vietnam Entrepreneur) held a forum in Hanoi on July 23 to discuss businessrestructuring amid challenges caused by COVID-19.
The forum looked into competitiveness and business models inface of challenges caused by the pandemic, orientations for enterprises to overcomethe crisis and suggested ways to improve their managerial capacity andproductivity.
Director of the Institute for Brand and CompetitivenessStrategy Dr. Vo Tri Thanh said among 126,000 surveyed enterprises, 86 percentof them said they have been considerably hit by COVID-19.
He added that the Government offered a 62 trillion VND (2.69billion USD) social welfare package, directed reducing interest rates,extending the deadline for payments of debts, taxes and land lease.
In order to boost public investment, the Government hastaken measures to speed up the disbursement of unspent capital in 2019 and plannedcapital in 2020 which amounts to 700 trillion VND, Thanh said, adding that theprogress, however, remains slow.
Economist Dr. Can Van Luc, for his part, said the COVID-19pandemic pulled down the six-month gross domestic product (GDP) to a 10-year low.The number of firms that suspended operations rose by 38.2 percent, more thandoubling that of the same period last year.
Pointing out new business trends during and after thepandemic, he said investors have paid attention to safer assets like gold. Atthe same time, more firms joined merger and acquisition deals, amounting to 54percent, equivalent to that before the pandemic.
Restructuring of supply chains and technological applicationto change working methods are also new trends.
According to a Nielsen survey, 63 percent of Vietnameserespondents said they will go shopping online more frequently after thepandemic while 86 percent are satisfied with the use of digital channels.
Thanh proposed that the Government should continue allowingthe extension of tax and fee payments, as well as consider issuing new economicstimulus packages for next year.
He also advised firms to seek business opportunities, staycreative to offer new products amid the fourth industrial revolution, andimprove branding and the sense of social responsibility./.
The forum looked into competitiveness and business models inface of challenges caused by the pandemic, orientations for enterprises to overcomethe crisis and suggested ways to improve their managerial capacity andproductivity.
Director of the Institute for Brand and CompetitivenessStrategy Dr. Vo Tri Thanh said among 126,000 surveyed enterprises, 86 percentof them said they have been considerably hit by COVID-19.
He added that the Government offered a 62 trillion VND (2.69billion USD) social welfare package, directed reducing interest rates,extending the deadline for payments of debts, taxes and land lease.
In order to boost public investment, the Government hastaken measures to speed up the disbursement of unspent capital in 2019 and plannedcapital in 2020 which amounts to 700 trillion VND, Thanh said, adding that theprogress, however, remains slow.
Economist Dr. Can Van Luc, for his part, said the COVID-19pandemic pulled down the six-month gross domestic product (GDP) to a 10-year low.The number of firms that suspended operations rose by 38.2 percent, more thandoubling that of the same period last year.
Pointing out new business trends during and after thepandemic, he said investors have paid attention to safer assets like gold. Atthe same time, more firms joined merger and acquisition deals, amounting to 54percent, equivalent to that before the pandemic.
Restructuring of supply chains and technological applicationto change working methods are also new trends.
According to a Nielsen survey, 63 percent of Vietnameserespondents said they will go shopping online more frequently after thepandemic while 86 percent are satisfied with the use of digital channels.
Thanh proposed that the Government should continue allowingthe extension of tax and fee payments, as well as consider issuing new economicstimulus packages for next year.
He also advised firms to seek business opportunities, staycreative to offer new products amid the fourth industrial revolution, andimprove branding and the sense of social responsibility./.
VNA
