Illustrative photo (Source: VNA)

Can Tho (VNA) – Mekong Delta enterprises should foster connectivity and cooperation, while strengthening the application of high technology in production and business, said Vo Hung Dung, Director of the Vietnam Chamber of Commerce and Industry in Can Tho city.

Addressing a conference in Can Tho city on July 26 to seek measures for regional businesses to adapt with changes of the world economy amidst the fourth industrial revolution, Dung noted that Mekong Delta region faces many difficulties in infrastructure, logistics and technology.

He held that the fourth industrial revolution will benefit regional firms by reducing labour cost, increasing productivity, thus improving profit.

Sharing Dung’s opinions, Nguyen The Quang, Vice Director of the E-Commerce and IT Department under the Ministry of Industry and Trade, mentioned the “sharing economy” model, which is proving its efficiency in many countries in the world.

He cited the success of IT-based businesses such as Grab, Uber, Trip me and Ahamove, which aims to share cost and increases profit, adding that regional firms can learn the model for better integration.

Huynh The Du, Director of the Fulbright Economics Teaching Programme, noted that so far this year, the region has had 4,275 new enterprises, up 110.5 percent over the same period last year, with total investment of 30.81 billion VND, a rise of 122.7 percent.

However, the number of dissolved firms were 2,426, an increase of 114 percent year on year, he said.

He analysed that the majority of local businesses are specialised in agriculture with small and medium scale and vulnerable to competition in capital, technology and human resources. He highlighted the need for specific support policies suitable to each locality to guide local firms in sustainable growth.

Du stressed that enterprises should be updated themselves on business laws, especially financial and fiscal policies, to avoid legal violations and the missing of support policies for their firms.-VNA