Illustrative image (Source: VNA)
 
Can Tho (VNA) - The number of well-performing businesses in the Mekong Delta increased with higher revenues and profits in 2017, according to a survey recently announced by the Can Tho city chapter of the Vietnam Chamber of Commerce and Industry.

Specifically, 38.9 percent of surveyed firms performed better, up 6.8 percent annually while those with stable operation accounted for 47.2 percent.

Up to 63.9 percent of respondents posted higher revenues – the highest figure in the recent three years, up 20.5 percent year-on-year. Meanwhile, businesses with increased profits accounted for 57.1 percent.

The region’s gross regional development product (GRDP) growth hit 7.6 percent, higher than the country’s average of 6.81 percent.

There were 8,994 newly-established enterprises in the region, making up over 7 percent of the country’s total, behind the southeast region (53,698), the Red River Delta (38,075), the north central and central coastal region (17,556).

As many as 1,962 businesses resumed their operations in the year.

The surveyed showed that enterprises in farm produce accounted for 32.5 percent, construction – real estate (13.5 percent), manufacturing-processing-apparel (24.3 percent), finance-trade-services (24.3 percent) and pharmaceuticals (5.4 percent).

Well-performing firms were mostly in the fields of processing for export-import, construction and real estate.

The high growth was attributable to technological adoption, workforce training, apparatus restructuring, self-sufficiency in materials and stable consumption, and improved product quality.

However, they also face challenges regarding the shortage of fishery materials, climate change impacts, intense competition with ASEAN member states, and uncontrolled smuggling.

The chapter suggested firms pay attention to the fourth Industrial Revolution, skilled workforce training, corporate governance, trademark building and management and product quality, given that the Comprehensive and Progressive Agreement for Trans-Pacific Partnership is to take effect this year.-VNA