return icon Vietnamnet.vn

Enterprises more upbeat despite challenges

 VietNamNet Bridge – Local enterprises for the most parts agree that this year will bring better business opportunities as the investment environment will change for the better,

VietNamNet Bridge – Local enterprises for the most parts agree that this year will bring better business opportunities as the investment environment will change for the better, the Vietnam Chamber of Commerce and Industry (VCCI) said on Tuesday.



{keywords}

 

 

Pham Thi Thu Hang, general secretary of VCCI, told the forum Support Solutions for Enterprises 2014 organized in Hanoi on Tuesday that most enterprises believed better sales this year.

Citing a survey conducted by VCCI among 700 enterprises, Hang said some 50.7% of the respondents planned to maintain their business scales in 2014 while 42.5% of them expected business expansion.

Only 6.7% of enterprises may scale down business this year while a trivial fraction of 0.1% could shut down business. Hang did not elaborate more on the 0.1%, but given the number of respondents, it is likely that only one enterprise planned business closure.

“Enterprises sense that their sales revenues will improve strongly against 2013… and prices of products will be much higher,” Hang said. Enterprises also agreed that their machine-equipment utility rate will be much higher, with bigger payrolls and the number of orders will also increase accordingly.

Despite such upbeat notes, Hang said that profits and domestic demands would still be major obstacles for enterprises, besides barriers in the business environment.

Echoing this view, Vo Tri Thanh, deputy head of the Central Institute for Economic Management, said the frail domestic demand would be a great challenge for enterprises.

Although the Government boosts spending from Government bonds, the overall investment in the economy can hardly increase, Thanh said, adding the greater investment from such bonds will unlikely create positive impacts on the economy.

Neither will the Government be able to bring down interest rates to support corporate borrowers, as interest rates are interrelated to the exchange rate, the inflation, and the coupon of the Government bond, he said.

The stronger boon for local enterprises is the overall export performance, as overseas demands will remain high. “Enterprises should grasp export opportunities since both the U.S. and Europe are growing well, while talks over trade agreements (between Vietnam and these two markets) are being speeded up,” he told the forum.

There are also chances in the Chinese market, he added.

Nguyen Truong Son, vice chair of the Vietnam Young Businessmen Association, said that the Kunming-Hanoi-Lang Son Economic Corridor is now taking shape, which will open up more trade opportunities for Vietnamese enterprises.

Figures at the forum show there are 312,600 small and medium enterprises nationwide, including over 6,800 medium-sized enterprises, over 92,500 small enterprises, and as many as 213,300 micro entities.

Last year, nearly 77,000 enterprises were established nationwide, while 61,000 others shut down business.

Source: SGT

MORE NEWS

VIETNAM BUSINESS NEWS AUGUST 15

Phu Quoc welcomes increasing investment in urban development

Journalists live streaming court proceedings to be fined nearly US$1,500

Journalists may face a fine from VND7 million ($320) to VND30 million (over $1,400) if they record audio, video with audio of a court hearing and broadcast it live on cyberspace.

Man arrested for attempted murder of three-year-old boy, hiding him in freezer

Police in Ha Nam Province have arrested a 25-year-old man, for the attempted murder of a three-year-old boy after beating him unconscious and hiding him in a freezer.

Da Lat to build dossier for becoming UNESCO creative city of music

Da Lat city in the Central Highlands province of Lam Dong has been given the green light to build a dossier and plan serving the application to be part of UNESCO Creative Cities Network in the field of music.

Vietnam strives to conserve elephants

In Vietnam, elephants are classified as critically endangered in the Vietnam Red Book, and are included in the group with the highest conservation status, whose exploitation for commercial purposes is strictly prohibited. ​

VN photographer wins two prizes at One Eyeland Awards

Tran Viet Van, a journalist at Lao Dong (Labour) newspaper, claimed two prizes in the World’s Top 10 Portrait Photographers 2022 photo contest run by One Eyeland Awards 2022.

VN tennis players qualify for World Group II play-offs in 2023

The Vietnamese tennis team have been promoted to the World Group II play-offs in 2023 after enjoying a resounding 3-0 win over Syria in the 2022 Davis Cup Group III in the Asia/Oceania region.

VIETNAM NEWS HEADLINES AUGUST 15

NA Chairman approves financial support for pandemic-hit laborers

Removing bottlenecks to attract foreign visitors to Vietnam

The local tourism industry is currently devising ways to iron out snags in attracting foreign visitors to the country, as the number of foreign arrivals during the first half of the year was far below the set target.

Demand for logistics real estate increases sharply: Savills Vietnam

Vietnam’s logistics industry is developing strongly thanks to the growth of the e-commerce industry, according to Savills Vietnam.

Discover the exquisite rainbow rice noodles of Can Tho

Rainbow rice noodles, also known as five-coloured hủ tiếu, are a fun take on the traditional Vietnamese rice noodles and a must-try for every tourist to Can Tho City in the Mekong Delta.

A unique cave awaits explorers in Quang Binh Province

Va Cave in the core zone of the Phong Nha- Ke Bang National Park in Quang Binh Province, with its unique stalagmites and stalactites, is a natural beauty waiting to be discovered by explorers.

The most important 'economic corridors' for next 10-30 years

The national planning draft for 2021-2030 with a vision towards 2050 focuses on the formulation and development of economic corridors, dynamic zones, large cities and economic zones associated with the national infrastructure framework.

Artisans strive to keep traditional craft alive

Artisan Tran Van Ban is busy all day from early in the morning to the evening. He is carving out beautiful mooncake molds to serve people's demands for the Mid-Autumn Festival which is approaching in the next few weeks.

Goalkeeper Dang Van Lam returns home to join a V.league 1’s club

Goalkeeper Dang Van Lam is set for a return to V.League 1 after touching down in HCM City with his agent.
back_to_top