Illustrative image (Source: VNA)Hanoi (VNA) - Thefact that nearly 35,000 enterprises have now withdrawn from the market threemonths after the COVID-19 outbreak first appeared in Vietnam reveals the hugeimpact it has had on business and production.
As the difficulties areaddressed, however, this is also a good time to restructure enterprises, accordingto experts, which would help the economy recover and make great strides forward.
Chairman of the Vietnam Chamberof Commerce and Industry (VCCI) Vu Tien Loc said the country is at a critical juncturein curbing the epidemic, and supporting enterprises to stand firm and overcomesetbacks is also a pressing matter.
Businesses, he went on, hopethat institutional reforms will be promoted in the coming months to help themovercome the COVID-19 crisis and better prepare for recovery and developmentefforts in the future.
Now is a good time toaccelerate the disbursement of public investment and promote public-privatepartnerships and essential infrastructure projects with State capitalcontributions, he added, to facilitate business and investment activities in alleconomic sectors.
Furthermore, he suggested theGovernment continue to focus on reforming administrative procedures, improving thebusiness environment, and removing difficulties and obstacles facing businesses.
Chairman of the Vietnam Associationof Small and Medium Enterprises Nguyen Van Than described COVID-19 as a testingtime for businesses to increase their resistance and seek ways to restructureproduction and improve their management capacity and ability to cope with tryingcircumstances.
Experts have advised businessesto quickly make use of provisions within the EU-Vietnam Free Trade Agreement (EVFTA)and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership(CPTPP), to diversify input supply chains.
Online business models ande-commerce should be promoted during the pandemic, experts have said,suggesting businesses pay greater attention to digital transformation and buildspecific, long-term, and comprehensive strategies and orientations./.
VNA
