Business

Resilient firms see good chance to bounce back: Vietnam Report

Although the 2020-2022 period was a tough time for both State-owned and private enterprises due to macro-economic fluctuations after the COVID-19 pandemic, it provided a good chance for businesses that managed to exist and make breakthrough growth, according to a report by Vietnam Report JSC.
Resilient firms see good chance to bounce back: Vietnam Report ảnh 1Illustrative image (Source: VNA)
Hanoi (VNA) – Although the 2020-2022 period was atough time for both State-owned and private enterprises due to macro-economicfluctuations after the COVID-19 pandemic, it provided a good chance for businesses thatmanaged to exist and make breakthrough growth, according to a report by VietnamReport JSC.

The report noted that enterprises that successfully adaptedto and overcame the period are businesses that boast strong financial capacity andare willing to change themselves.

They include Vinhomes JSC (VHM), Hoa Phat Group (HPG), MasanGroup (MSN), Mobile World Investment Corporation (MWG), Vietnam InternationalCommercial Joint Stock Bank (VIB), Vietcombank (VCB), Duc Giang Chemical Group(DGC), Techcombank (TCB), MBBank (MBB) and Asia Commercial Joint StockBank (ACB), which are named among top 50 prestigious and effective publiccompanies of 2022 (VIX50) by Vietnam Report.

As the exchange rate, interest rate and inflation are on therise, input costs have been pushed up, leading to an increase in the prices of products and services, harming businesses’ competitiveness.

Resilient firms see good chance to bounce back: Vietnam Report ảnh 2Transaction at Vietcombank (Photo: VNA)
However, firms that are self-reliant in input materials willsecure their benefits, according to the report.

General Director of Vietnam Report Vu Dang Vinh held that inorder to maintain stable business in the “price storm” period, enterprises mustreposition their value chains, analyse the macro factors that may affect their productioncosts, while developing a new price policy and regularly evaluating customer reactionsto the new policy.

He reminded businesses to focus on enhancing their prestige by improving their products’ quality, design and market visibility, besides stepping up the application of scientific and technological advances, and boosting humanresource development.

Vinh held that it is crucial to make the capital market more transparent,especially the corporate bond market, thus attracting professional investorsand property investment funds, thereby enhancing the brand names of thebusinesses./.
VNA
#Vietnam Report JSC #COVID-19 pandemic #General Director of Vietnam Report Vu Dang Vinh #corporate bond market #Vietnam #Vietnam news #Vietnam News Agency
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