Ways to help Vietnamese businesses recover from Covid-19 were highlighted at a recent forum entitled ‘Promoting Cooperation among Vietnamese Enterprises for a post-Covid-19 recovery’.

Co-hosted by the Viet Nam Young Entrepreneurship and Trade Promotion Club and the Da Nang Young Entrepreneurs’ Association, the event saw the participation of about 300 businesspeople across Viet Nam.

In his remarks at the event, Mr Nguyen Phuc Long, the Chairman of the Board of Directors, cum General Director of Thang Long Investment Group, said that Viet Nam’s economy is not able to recover as quickly as expected amid the global coronavirus pandemic .

It is forecasted that, it is not until late 2020 and early 2021 that the epidemic is basically brought under control on the globe, and the new global supply chain will be put back to normal.

In his point of view, Mr Le Tri Thong, the Vice Chairman of the Board of Directors of Phu Nhuan Jewelry Joint Stock Company (PNJ), shared the secret to overcoming a certain economic crisis triggered by global incidents, Covid-19, for instance.

He explained, it is necessary to pour money in multiple industries instead of doing such an act of ‘putting all of one's eggs in one basket’ which is obviously risky. The intention is to ensure cash flow maintenance for businesses to operate effectively, regardless of unexpected incidents. It is a good idea for the business community in Viet Nam to strengthen links among them to attract new wave of foreign investment.

In reality, most of Vietnamese enterprises are small and medium-sized, wanting to participate in the global supply chain. In addition to their internal strength, domestic enterprises are highly recommended to boost their cooperative ties for their mutual interests.

Mr Phan Hai, the General Director of BQ Shoe Co., Ltd, pointed out to the fact that, in the recent difficult period, instead of sacking their staff, many businesses in Da Nang decided to cut many sources of unnecessary expenses, even their owners have to dig deep into their pockets to ensure enough financial resources for regular payroll. This, indeed, motivate employees, especially high qualified ones, to maintain their long-lasting attachment to businesses.

By KHANH HOA - Translated by A.T