Hoang Quang Phong, deputy chair of the Vietnam Confederation of Commerce and Industry (VCCI), mentioned in 2022, Vietnam is recovering nicely regardless of uncertainties on the earth. The World Bank has lifted its predicted GDP progress fee of Vietnam to 7.2 p.c in 2022.

However, many issues exist. It is estimated that 18,100 companies are established every month, however 12,500 companies depart the market. The figures present that the enterprise neighborhood stays harm by difficulties within the international and home economic system. 

A survey on enterprise traits in Q3 2022 carried out by the General Statistics Office (GSO) discovered that the variety of orders within the fields of producing and processing has decreased. The variety of enterprises with monetary difficulties accounted for 30.8 p.c, whereas the variety of enterprises complaining about materials shortages accounted for 26 p.c.

The difficulties enterprises face embody enter materials value will increase, dangers from provide chains, stress on trade charges, and decrease demand.

Nguyen Hong Long, deputy head of SCEID, mentioned  growing inflation in Vietnam’s key export markets such because the US and EU has pressured individuals to tighten their purse strings and induced a discount within the variety of orders during the last two months.

The international progress fee has been lowered by the International Monetary Fund (IMF) to 2.7 p.c from 3.5 p.c. This has led to a lower in demand for items, thus affecting manufacturing and exports of many nations, together with Vietnam.

Le Duy Binh, CEO of Economica Vietnam, mentioned the funding within the non-public sector has elevated considerably, accounting for 60 p.c of complete funding of the complete society. However, capital use effectivity is on the lower. 

In 2010, the non-public sector wanted to spend VND4.3 to create one dong of GDP. In 2021, it spent VND23.4 to create one dong of GDP.

He mentioned non-public enterprises want to hunt different driving forces for progress, resembling expertise reform and high-quality human assets to enhance productiveness and cut back prices, thus enhancing  competitiveness.

According to Duong from MIC, many enterprises are hesitant to digitize as they suppose that digital transformation will result in greater manufacturing prices whereas they face monetary issues.

However, Duong mentioned that have from the most recent disaster confirmed that companies that use digital expertise recuperate higher than companies that don’t.

Tran Thuy