Leaders of Vietnam’s leading private enterprises discuss how to fight recession

Leaders of the Top largest private enterprises in Vietnam will gather at the Forum "From Survival to Prosperity" on August 20^th to cc survival issues and to become alliances to overcome difficulties after Covid-19.

No longer after recovering the first wave of Covid-19, Vietnamese enterprises entered another fight when the pandemic suddenly came back. Despite having experience from the previous period, many companies believe that the challenge is even more difficult when the epidemic reappears with unpredictable developments and the impact level is even greater than before.

The return of the pandemic continues to pose a survival problem for the business community, no matter how large or small, “strong" or "weak” they are. "If the epidemic is complicated, businesses with financial strength will only remain stable for no more than half a year, small businesses can hold out for three months or less", a representative of a business once shared with VnExpress.

To find answers for the urgent question, on August 20^th, leaders of the Top 500 largest private enterprises in Vietnam will be present at the Forum titled "From Survival to Prosperity" organized by FPT, with topic of "Firmly overcoming a crisis" with two forms: offline in the auditorium in Hanoi, Ho Chi Minh City and online via Webex system.

Identifying the right problem to prioritize in a crisis

At the Forum, leaders from the leading businesses will work together to solve the problem to help businesses overcome and thrive after the pandemic - A familiar problem, however, raises many new difficulties that determine the survival of the business.

The speakers are the business leaders from different enterprises in many fields which are responding promptly to Covid-19 such as VPBank, PNJ, AA Corporation, Minh Phu Group, Thien long Group, FPT ... and the representatives of Deloitte – the leading strategic consultant in corporate governance. At the event, they will discuss, and share real stories about challenges, priority issues and practical actions to solve the problem. Practical lessons will be drawn into manuals and recipes for each business.

At the same time, those with with "real battle" experience to stand firm in the face of Covid-19 will also share many initiatives, practices, technology solutions etc. for the business community in the war against pandemic.

At the same time, they will also give the most practical assessment of the impact of Covid-19 in the short, medium and long term - the question that many businesses are most concerned about today. This will be the basis for businesses to analyze and prepare plans and scenarios to be ready to respond to difficulties and challenges, and to anticipate opportunities to revive and prosper after the pandemic.

Opening up opportunities for business alliances to overcome crisis

In addition to identifying the top priority issues to solve, with the participation of leaders of many leading enterprises in the fields such as Retail, F&B, FMCG, Wood, Agriculture, Banking - Finance, Real estate, etc. The forum "From survival to prosperity" also opens up opportunities to meet, connect and build alliance groups between industries to overcome and make a breakthrough after Covid epidemic.

"The combination of many large Vietnamese enterprises can create a new supply chain. This is a need in itself, not because of the pressure from the government", Mr. Mai Huu Tin, Chairman of U&I Group said at the Seminar with the Sao Do Entrepreneurs Club - an activity in the series of Forum "From survival to prosperity".

The statistics in the first 7 months of the year from the Department of Business Registration Management (Ministry of Planning and Investment) showed that nearly 63,500 enterprises withdrew from the market, increased by nearly 11% over the same period last year. On average, about 9,060 enterprises closed each month, mainly in small sized enterprises and startups.

Around 33,000 of these enterprises registered to temporarily suspend their business for a definite period, an increase of over 40% over the same period, the highest number since 2015. One of the main reasons comes from the impact of the Covid-19 epidemic.

“It is time for us, the leading enterprises in Vietnam, to show our responsibility. How to not only overcome difficulties but also make breakthroughs, get stronger and become an important driving force to boost the country's economy? FPT believes that it iss time for Vietnamese businesses unite to help each other get better. The knowledge, lessons and experiences acquired during the journey of each Vietnamese enterprise or accumulated in the globalization process are extremely valuable”, said Mr. Truong Gia Binh, Chairman of FPT Board of Directors stated.