Stop worrying of pandemics, businesses start rising up

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All businesses are actively promoting production, rising strongly after the pandemic. Photo: H. Diu.

"Fighting" right in the time of pandemics

Although there were many positive signals when the Covid-19 pandemic was under control, the profitability of businesses has been affected significantly. According to the statistics of Bao Viet Securities Company (BVSC), as of early May, there were 955 companies listed on the HSX, HNX and UPCoM announced business results in the first quarter of 2020, accounting for 94.41%. In which, there were 359 enterprises reporting profit, accounting for 37.59%. Vinhomes Joint Stock Company has VND 7,645 billion, followed by the Vietnam Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) with VND 4,182 billion andVietnam Dairy Products Joint Stock Company (Vinamilk) with VND 2,776 billion.According to BVSC, the complicated evolution of the Covid-19 pandemic made business results of listed companies highly impacted in the first quarter of the year.

Vietnam has been able to control the pandemic since May. For businesses, large or small, though affected by disease or not much, with the opportunity of opening, it is impossible to "fold their arms" to watch profits godown, efforts have been made to improve revenue as well as to take every opportunity to counteract negative impacts, for overall development.

Le ThiThanh Lam, Deputy General Director of Saigon Food Joint Stock Company, said that the prolonged pandemic caused supply from Chinese market to be affected but Japanese customers increased orders. Saigon Food has supplied more than 50 luxury frozen items to the fastidious Japanese market.

Expected year-end results winning

Assessing 2020, the leader of PhuNhuan Jewelry Joint Stock Company (PNJ) said that the situation changed very fast, the operation of the unit was also influenced by the factors of the world market and disease variables. Accordingly, PNJ is focusing on speeding up the implementation of projects "F5 - Refresh" to optimiseoperational efficiency and create new thrust in operation. PNJ focuses on preparing new product plans, collections, product lines and marketing programmes for the recovery period, such as opening new stores to enhance access to the domestic segment.

Also considering the situation is still difficult, Le ThiThanh Lam said the consequences after the pandemic are not only immediate manifestations but there will be many other serious consequences. Therefore, although two new projects are planned in 2020, in the new situation, Saigon Food has decided to stop to focus on existing strengths and strengthen resources to consolidate and promote. The leadership of Saigon Food has directed to review the apparatus, management system and restructuring to be more flexible and efficient, improve operating procedures, and review and cut costs, willing to cut the ineffective businesses.

Many trade promotion activities have been implemented, helping businesses increase opportunities for connection and trade. Photo: H. Diu.

Also to fulfillbusiness targets for 2020, but according to the leaders of May 10 Joint Stock Company, businesses must work withand support each other, share and use each other's services to promote business activities in the post-Covid-19 period. Specifically, promoting tieswith businesses in the bloc to provide products into a package chain; cooperating with big corporations such as electricity, mineral coal, aviation andlogistics to provide solutions and use each other's products and services to increase value and sales for businesses in the same industry; linking to research and developing new sources of raw materials, new product lines with specific characteristics, serving specific customer segments to increase the added value in each product and service and competitiveness of branch.

The issue of linking businesses is being talked about more than ever with efforts to promote and develop together for the last months of the year. Not only that, it is praiseworthy that businesses have also received a lot of support, from finance to trade promotion activities to increase the "strength" of recovery. It is from these efforts the Government is more determined to implement "dual goals", which is to prevent pandemics and economic growth. The viewpoint "Resolutely not back down before difficulties and challenges; must turn difficulties and challenges into opportunities”of the Government is also the heart of the business community. Although there are many difficulties, but with consensus and efforts, it is still possible to bring the 2020 growth of businesses and the economy.