A corner of HCM City (Photo: VNA)
Hanoi (VNA) - Vietnam’s effectiveCOVID-19 control measures to date and gradual yet prudent reopening hasenhanced its attractiveness as a business destination, HSBC said in its Navigatorreport themed “Building Back Better”, released on July 21.
The report was theresult of a survey of more than 1,400 companies in the Asia-Pacific.
Tim Evans, CEO of HSBC in Vietnam said that the COVID-19 pandemic has forcedbusinesses into an unprecedented crisis, however amongst the hardship it has become increasinglyapparent that technology is the ultimate solution to help businesses and entireeconomy-survive periods of extended social distancing.
Those companies that have invested and built theirstrategies around digitalisation are the ones most set up to navigate thereal-time challenges, to adapt and prosper in today’s dramatically reshapedworld, he said, adding that companies in Vietnam have harnessed the power of technology to respond at pace.
Besides, the EU-Vietnam Free Trade Agreement ratified in June placedincreased importance on businesses redesigning their supply chains to meet theEU’s requirements and take full advantages of the opportunities the trade dealoffers.
At the same time, COVID-19 hasserved as a warning signal for many,including those in Vietnam, to diversify their supply chains to protectfrom centration risk on one specific market.
Businesses which are closelymonitoring their supply chains to ensure their operations are more resilientand less susceptible to disruption from external shocks, the report says.
According to Navigator, 54 percent of Asian companies say they willincrease the transparency and traceability of their supply chains.
Meanwhile, over one-third ofAsian firms will review supply chain partners to ensure they are able toweather future challenges./.
