Experts say that in the current economic context, renovating the growth model is a topical problem from both a micro and macro perspective.
At the Business Forum 2023: Innovating the Growth Model, organized by Forbes Vietnam in collaboration with a number of units in Ho Chi Minh City, on the afternoon of August 17, many experts also said that Vietnam's economy It is necessary to switch from a broad-based growth method based on capital, cheap labor, and national exploitation of natural resources... to in-depth economic growth with a high brain content.
From a business perspective, innovating the growth model on the basis of effective resource use, sustainable business strategy... to catch the changing trend coming from the technological revolution.
In particular, enterprises must meet the requirements of production transformation to adapt to sustainable development standards, flexibly adapt to the fluctuations of domestic and global markets.
2023 is the year artificial intelligence (AI) explodes, the impact of technology will change many business models.
On the Government's side, promoting the creation of a mechanism to promote green production and improve competitiveness not only meets the consumer tastes of key export markets, but also contributes to promoting green growth in accordance with the law. global green economy trends.
In addition to opportunities from the wave of green production and green exports, Vietnam can improve by effectively exploiting Free Trade Agreements (FTAs), especially new generation FTAs to diversify its portfolio. product categories and export markets.
Typically, if Vietnam can build an ecosystem of services in finance, taxation, technology, infrastructure, supporting industries, etc., it will create a supporting value chain for the production and business chain. exports, thereby accessing the global supply chain better.
Workshop automation with Robots at the Training Center of the Hi-Tech Park in Ho Chi Minh City. (Photo: broadcast by VNA)
This is also a potential area that Vietnam has not yet opened and effectively reformed to serve and contribute to economic growth.
Regarding the 4th Industrial Revolution, Mr. Nguyen An Nguyen, Founder and CEO of Trusting Social assessed, this period is the "dawn" of the era named AI and AI impacting on whole life. social and business activities.
People are living, working, doing business, entertaining... in a society based on the power of Internet connection and new technologies capable of promoting social change in the future.
Therefore, businesses choose digital transformation in each stage and department; e-commerce also needs its own way. With the digital transformation process, businesses need to apply step-by-step but systematic applications to bring practical benefits in internal operations, as well as experience for partners and customers...
In the commercial sector, Mr. Nguyen Anh Duc, General Director of Ho Chi Minh City Union of Trade Cooperatives (Saigon Co.op) and Chairman of the Vietnam Retailers Association said that businesses should proactively change and focus on restructuring corporate governance, operating business activities, aiming at strategies to ensure growth goals.
In addition, businesses focus on updating government and local government mechanisms and policies in line with their business models to take advantage of them effectively and create more value.
From the perspective of businesses, if businesses have a pessimistic mentality, it will be difficult to overcome the context of the economic downturn. Therefore, in difficult times, businesses need to persevere in solving the growth problem.
In addition, the economy has a lower growth rate, which is not only a challenge but also an opportunity for businesses to rethink themselves, be more open in investment and business, and improve risk management models. in company.
In order to promptly adapt to new opportunities and new challenges, some enterprises also pointed out that, in the near future, enterprises should be flexible in reducing operating costs, increasing operational productivity, being cautious in capital Mangement...
At the same time, the business community can create momentum for growth by "shaking hands" on investment cooperation, multi-industry business based on the potential identification of the parties and the level of profitability to make decisions. .
Previously, according to the analysis of experts, the positive point of Vietnam is that in the volatile international business environment, inflation is still well controlled, maintaining a stable exchange rate...
However, Vietnam's GDP grew at a low rate when the export sector slowed down, production faced difficulties, and purchasing power in the domestic market weakened.
Dorsati Madni, a senior economist at the World Bank, said that high inflation in many countries that are major trading partners of Vietnam has reduced purchasing power, affecting the economy. export and investment activities.
This leads to both manufacturing and service sectors from FDI to domestic enterprises facing many difficulties.
The fields of export and investment are the two growth drivers for the Vietnamese economy, but attracting FDI is mainly based on tax incentives, cheap labor... high gray matter.
On the world export map, Vietnam has not made a breakthrough, but still stands out in many traditional fields, including electronics, textiles, footwear, agricultural products, furniture...
Within the framework of Business Forum 2023, Forbes Vietnam honored 50 best listed companies in 2023.
This is the 11th time that Forbes Vietnam has made this list and the 50 best listed companies in 2023 brought in a total profit after tax of VND 228,096 billion, up 18% compared to the list in 2022; total revenue reached 1,490,4553 billion VND, up 24.9%.
My Phuong (VNA/Vietnam+)