New solutions needed to deal with problems that did not exist over last 30 years

A quick survey of businesses via the webinar "FPT eCovax – the digital solution for businesses to overcome the pandemic" found three major problems that businesses are facing now.

New solutions needed to deal with problems that did not exist over last 30 years

First, productivity decline as workers work from home (43 percent). Second, congestion of papers, bills and contracts because of the work-from-home regime (20 percent). Third, interruption in communication and information exchange (13 percent).

Businesses also don't know how the pandemic will develop or how to cope with it.

Le Van Thanh, Chair of Dong Luc Group, said his company is now facing problems which had never happened during its 32-year operation. The pandemic has caused a dramatic drop in turnover and upset all business strategies.

His shops all have closed during social distancing and the company contacts clients via online channels, including social networks, Zalo and e-commerce sites. The work of seeking clients can be implemented only via these platforms.

Shifting from offline to online sales is the only choice for now.

“This is a great challenge, because we communicated with clients face to face in the past,” he said.

He said that going digitized is a must. Building a website for niche markets is crucial and it needs to be updated. The company app serves online sales for sale agents and clients.

Marketing and sales in the time to come will mainly be done via online, with interactions on e-commerce sites and social networks, he said.

Do Thanh Nam, Card and Digital Banking Director of Vietbank, said the bank has been seriously hit by the pandemic. Officers don’t have enough equipment and tools to work from home. The coordination among divisions of the bank is difficult.

The bank lacks workers for some services such as card production and supplying banknotes for ATMs (auto telling machines).

Because of the pandemic, clients are reluctant to make transactions. This has affected deposits, lending and growth. The bank has to try every possible way to interact with clients, including Zalo, chatting apps, and social platforms. However, bank officers communicate with clients mostly via calls, which is costly.

CEO Nguyen Tri Anh of MED-GROUP, a business in the healthcare sector, said the number of clients has soared during the pandemic.

“There are two problems. First, we have to ensure safety for both workers, doctors and clients and patients. Second, we need to organize the operation so it goes smoothly and effectively, though the workload has increased dramatically,” he said.

Anh said that the company would not be able to exist if it did not apply technology.

 

It is estimated that the company now has to test 20,000-40,000 samples each day, or five times higher than ordinary days. This doesn’t include 20,000 samples tested in localities.

“At this moment, I believe that all businesses are aware of the importance of technology application,” he said.

Speeding up digital transformation

According to Do Thanh Nam of Vietbank, the bank’s leadership set a roadmap for the digitization process in 2025-2030. Because of the pandemic, the process has accelerated.

Vietbank launched new services after the pandemic broke out, such as withdrawal of cash without using cards, eKYC (electronic Know Your Customer) , and products on social platforms.

The bank has completed a bank app which satisfies all the requests of the clients, replacing 70-80 percent of traditional banking services.

These include new digital products such as new online card and bank account, contactless card technology, and card security development at highest level. The bank has also cooperated with marketplaces and retailers to provide services. Clients don’t need to go to stores, but can shop online.

Nguyen Xuan Khoa from TH Food Chai JSC said the company will speed up digital transformation.

He cited tasks that need to be done, from a customer care system to better understanding of customers’ needs and directly communicating with clients. Speeding up and connecting e-commerce sites, promoting online payments, and connecting e-wallets and electronic payment portals are also important.

Nguyen Van Khoa, CEO of FPT, the Vietnamese largest information technology corporation, said that small and micro enterprises need to determine what is needed now.

“I recommend that they spend VND1-3 million a month to use SaaS (Software as a service) products. This is just like buying a car. We don’t necessarily have to buy an expensive car. The most important thing is that we use the car effectively,” he said. 

Duy Anh

Infrastructure ready for digital economy, society: Minister

Infrastructure ready for digital economy, society: Minister

Green and digital development is the main development trend in the first half of the 21st century.

Vietnam could make billions of US dollars from livestream economy

Vietnam could make billions of US dollars from livestream economy

The combination of livestream and e-commerce can create an industry worth tens of billions of US dollars. This promises to be a very important element in the development of the digital economy.

 
 

Other News

.
Covid-19 rapid-test kit prices in turmoil
Covid-19 rapid-test kit prices in turmoil
FEATUREicon  30/09/2021 

A rapid testing kit sourced from China is being sold at three different price levels.

A midnight call from the Prime Minister led to new Covid strategy
A midnight call from the Prime Minister led to new Covid strategy
FEATUREicon  29/09/2021 

The call at midnight from Prime Minister Pham Minh Chinh to HaNam’s leader led to a breakthrough in the Covid-19 prevention and control strategy.

Vehicle number plates to be auctioned
Vehicle number plates to be auctioned
FEATUREicon  29/09/2021 

The vehicle number plates that contain lucky numbers could be a ‘golden treasure’, and auctioning the plates could bring trillions of dong to the state budget.

Businesses need to be given more autonomy in new normal
Businesses need to be given more autonomy in new normal
FEATUREicon  29/09/2021 

A survey conducted by Vietnam Chamber of Commerce and Industry (VCCI) in September of nearly 3,000 businesses found that 93.9 percent have been affected by the pandemic at a ‘completely negative’ or ‘mostly negative’ level.

Businesses say Health Ministry's guidance on ‘living together with pandemic’ is inflexible
Businesses say Health Ministry's guidance on ‘living together with pandemic’ is inflexible
FEATUREicon  27/09/2021 

The draft document that guides how to adapt to Covid-19 safely strives for ‘zero Covid’ goal, not ‘living together with the pandemic’, the business community says.

Hanoi authorities maintain consistent strategy in fighting pandemic
Hanoi authorities maintain consistent strategy in fighting pandemic
FEATUREicon  28/09/2021 

“My motto is deploying necessary measures drastically – narrow localization, quick tracing and large-scale testing,” Hanoi Party Committee Secretary Dinh Tien Dung said.

HCM City proposes cooperation mechanism when reopening economy
HCM City proposes cooperation mechanism when reopening economy
FEATUREicon  28/09/2021 

To effectively reopen the economy, HCM City has asked the Government to allow the city to apply its own regulations and a cooperation mechanism among localities.

Quarantine services: gold mine for golf tourism
Quarantine services: gold mine for golf tourism
FEATUREicon  27/09/2021 

In early 2021, 59 foreign tourists arrived in Phuket province in southern Thailand and were quarantined at a luxury hotel for 14 days. This is one of the first groups of international tourists to Thailand under the "resort quarantine" program.

HCM City needs help to rise up after the pandemic
HCM City needs help to rise up after the pandemic
FEATUREicon  27/09/2021 

According to the Ministry of Planning and Investment, Ho Chi Minh City and five provinces in the Southeast region will likely have negative growth in 2021.

A code of conduct for artists
A code of conduct for artists
FEATUREicon  25/09/2021 

The Ministry of Culture, Sports and Tourism is finalizing the draft code of conduct for Vietnamese artists.

VN enterprises can't produce because of lack of materials, parts
VN enterprises can't produce because of lack of materials, parts
FEATUREicon  26/09/2021 

A fish sauce plant using millions of tons of fish has had to close because it cannot buy stopples to bottle products.

Banks offer to sell consumer debts of only hundreds of thousand of VND
Banks offer to sell consumer debts of only hundreds of thousand of VND
FEATUREicon  26/09/2021 

Banks have put on sale consumer debts with no collateral with very small value. One of the debts has the value of VND483,000, including principal, interest and fine.

Seafood exports plummet under social distancing regulations
Seafood exports plummet under social distancing regulations
FEATUREicon  26/09/2021 

The lack of input materials and workers, the increase in production costs, and failure to fulfill orders of partners all have pushed seafood companies into a deadlock. Seafood exports have plummeted.

Hanoi isolation and vaccination strategy helped curb spread of Covid-19
Hanoi isolation and vaccination strategy helped curb spread of Covid-19
FEATUREicon  24/09/2021 

Hanoi's strategy of quickly isolating areas where positive cases were found and carrying out testing campaigns at "lightening speed" helped prevent the spread of the virus.

Investment in charging stations needed for electric car industry
Investment in charging stations needed for electric car industry
FEATUREicon  25/09/2021 

Experts believe that electrified vehicles will be a trend in the world’s automobile industry, including Vietnam.

Real estate market waits for amended Investment Law
Real estate market waits for amended Investment Law
FEATUREicon  24/09/2021 

The amended 2020 Investment Law is expected to expand housing supply.

Inflation arises after stagnation – difficult choice in pandemic
Inflation arises after stagnation – difficult choice in pandemic
FEATUREicon  28/09/2021 

In the US, policymakers are in a dilemma when they want to tighten money pumping into the economy to prevent the risk of high inflation, but they are afraid of losing the recovery momentum.

Vietnam changes way of thinking in fighting Covid-19
Vietnam changes way of thinking in fighting Covid-19
FEATUREicon  23/09/2021 

Since the day Prime Minister Pham Minh Chinh became the Head of the Steering Committee for Covid-19 Prevention and Control, there have been some fundamental changes made in the long march to fight the pandemic.

Domestic travel reopens, but under Covid-19 safety conditions
Domestic travel reopens, but under Covid-19 safety conditions
FEATUREicon  23/09/2021 

Some destinations are ready to reopen to receive travelers, while travel firms are preparing to serve domestic travelers with green cards.

The digital economy in the new normal
The digital economy in the new normal
FEATUREicon  26/09/2021 

Vietnam’s e-commerce has been growing rapidly, and when the pandemic is over, the e-commerce market is expected to be even more robust.

 
 
 
Leave your comment on an article

OR QUICK LOGIN