Building new business models toward sustainability
This is the major goal set by more than 200 chief executive officials (CEOs)
from governmental agencies, ministries, local and foreign businesses and
investment funds at an ongoing international forum in Hanoi.
To achieve the goal, they said, it is essential to promote the efficient
use of natural resources, increase high-quality human resources, effectively
attract and utilize investment, as well as to create incentive policies
and the legal framework to facilitate business operations.
Participants at the CEO World Forum 2012, co-organized on January 12-13
by International Data Group (IDG) and the CEO&CIO Club, drew a picture
of Vietnam’s economy and talked about development trends while highlighting
investment opportunities in poor economic conditions.
Addressing the forum, former Deputy Prime Minister Vu Khoan noted that many
Vietnamese businesses are facing capital shortages and that global economic
downturn has had a negative impact on the national economy, resulting in
moderate trade turnover in 2011.
He underlined that to overcome current difficulties and challenges, business
leaders should seek energy-saving solutions and apply new technologies.
Current financial status
According to Le Xuan Nghia, Vice Chairman of the National Financial Supervisory
Commission, in 2011 Vietnam’s economy encountered many challenges, with
the inflation rate reaching 18.5 per cent, the stock market standing below
400 points, gold prices and foreign currency exchange rate experiencing
strong fluctuations, and the real estate market becoming frozen due to strict
monetary policies.
Moreover, he said, the government has recently decided to adopt a policy
to lower GDP estimated growth in 2012 of 6-6.5 per cent to stabilize the
macro-economy.
Ralf Matthaes, a senior market research expert from the US, emphasized the
need to increase the purchasing power of consumers in a high-inflation context
and understand spending priorities.
Vietnamese consumers have experienced a combined inflationary increase of
50 per cent over the past three years, he added.
Key to success
Chris Harvey, CEO of VietnamWorks, shared his experience in talent recruitment,
saying that current difficulties in business finance restrict the capital
for senior human resources recruitment.
In order to find optimal solutions to attract and seek talents, he suggested
entrepreneurs need a deep understanding of the recent situation in Vietnam
and strategies to develop senior employment for effective operation.
Successfully using high-quality employees will help businesses overcome
challenges and find new opportunities, he added.
During a panel discussion, delegates focused on four pillars of sustainable
economy, saying that sustainable development is an inevitable developing
trend of the era.
To this end, they analyzed, four factors should be taken into account: developing
national resources, utilizing senior human resources, effectively using
domestic and foreign investment capital, and ensuring transparent macro
management policies and government legal frameworks.
They considered Vietnam’s natural and human resources as the foundation
for creating competitive advantages and increasing productivity.
2011 was a year full of fluctuations in the world economy and Vietnam’s
economy in particular. The growth rate of the world economy was estimated
at 3 per cent instead of 3.6 per cent as expected.In Vietnam, the government
had to adopt strict measures to maintain interest rates and control gold
and foreign exchange markets. Inflation in 2011 was over 18 per cent, beating
the 7 per cent target set by the National Assembly.
According to the Ministry of Planning and Investment, by September 2011,
nearly 49,000 firms were reported to suspend operation, 11,000 more than
the previous year. – VIR
Posted by VBN on Jan 13 2012.
Nguồn: Vietnam Business News