A workshop recently took place in Da Nang entitled “Business Restructuring Strategies - New Opportunities and Challenges during the 2014 - 2015 Period”.  The event was jointly organised by the city’s branch of the Viet Nam Chamber of Commerce and Industry and the city’s Support Centre for Small and Medium-sized Enterprises (SMEs).

There are around 15,000 businesses operating in the city, and the majority of them are SMEs.  Over the past 6 months, 1,200 businesses have had their operations either suspended, dissolved or bankrupted due to the current global economic downturn and a shortage of capital for developing their production activities.

Many local businesses should focus on restructuring

At the event, the Vice-Chairman of the municipal People’s Committee and Head of the city’s Steering Board for the “Year for Businesses 2014” programme, Mr Vo Duy Khuong, stressed the need for local businesses to identify effective restructuring strategies in order to improve their competitiveness.  He also stressed that local businesses should take advantage of the city’s preferential policies for implementing their business innovations.

Many city businesses have yet to promote their brand names successfully in the local market, and their products have proved to be unpopular with local residents.  Additionally, some businesses have not made much contribution to the city’s total budget collection.

In an effort to resolve these problems, the city authorities are accelerating the implementation of a medium-term project for developing local businesses by 2020.  The focus is on restructuring the local services and industries, developing tourism and trade activities and logistics services, and issuing preferential land use policies to encourage local businesses to expand their production.  In addition, importance is being attached to developing more enterprises involved in hi-tech and software industries, as well as ensuring equality for all the local economic sectors in bids for local investment and public procurement projects.  Special attention is also being paid to improving business administration through a number of training and consultancy programmes which will be organised by local departments and agencies.