|
Long-term outlook urged for post-crisis response
Domestic businesses should have long-term vision, become more competitive and establish links with each other to capitalise on post-crisis opportunities, experts say.
Nguyen The Hung, deputy head of the Viet Nam Chamber of Commerce and Industry in HCM City told a conference last Saturday that Viet Nam was no longer cut off from the world economy so it had been badly affected by the global financial crisis.
The export sector was the most affected sector, falling 13.4 per cent in the first seven months of the year, Hung said.
He said the global economic situation after the crisis would bring about many changes that would present both challenges and opportunities for enterprises.
To turn the challenges to opportunities, domestic businesses should increase their competitiveness through production and organisational reforms, cutting costs and training their workforce, Hung said.
Senior economist Le Dang Doanh said exports will face more challenges due to an increase in trade barriers set by importing countries.
Besides finding ways to boost exports, local firms should also draft strategies to increase domestic sales, Doanh said, adding that they should keep a close eye on the international economic situation to map out suitable production and business strategies.
Doanh also called on businesses to ensure that their products met market demand.
Businesses in the same sector should co-operate in transportation and training for labourers to reduce costs, he said.
Sharing Doanh’s view, Nguyen Duy Khien, director of the Ministry of Industry and Trade’s Trade Policy Department for the Americas, said businesses should study the demand of each market to supply suitable items and raise their business efficiency. Enterprises should also focus more on improving quality and creating unique differences to make them more competitive.
Khien also advised enterprises to set up websites so that his department can help them introduce products to potential customers.
Hung said thanks to the Government’s policies tackling the downturn and the diligence of enterprises, the economy has shown signs of recovery.
Complicated administration
However, complicated administrative procedures and slow implementation of stimulus packages have caused many challenges for enterprises, he added.
He called on the Government to continue carrying out policies to limit the recession and pay more attention to the issue of inflation.
Doanh emphasised that enterprises would need the Government’s help even in the post-crisis situation.
He said the Government should focus more on administrative reforms and traffic infrastructure development to help enterprises save time and costs.
To diminish risks in the domestic financial and monetary system, Doanh said the Government should show more acumen and be open in their management. It should also establish clear and concrete regulations to ensure the system operates effectively.
This would help enterprises get out of the crisis faster and help raise their competitiveness, he added.
The conference was organised by the Viet Nam Chamber of Industry and Trade and Sao Viet Consultancy Company.
vietnamnews
|
