Spirit of Vietnam’s Entrepreneurs Prevails

In the first nine months, nearly 60,000 companies were established and a vast majority of more than 500,000 operational enterprises are still withstanding and staying active. Many are continuing with ambitious development investment, restructuring, enhancing competitiveness, and turning challenges into opportunities. Once again, the spirit of Vietnam’s entrepreneurs prevails.

 

The entire business community is working with the Government to stabilise the macro economy, curb inflation and sustain growth. The country’s GDP growth of 5.76 percent in the first months of this year is likened to the recognition for great efforts of the business community and all people.

 

However, challenges and difficulties facing businesses and entrepreneurs in the last months of 2011 and subsequent years are still enormous. Global economies are uncertain. In the country, inflation has been brought down but the growth was still high. Austerity measures to pursue macroeconomic stability in accordance to the spirit of the Government’s Resolution 11 still needs to be continued. Besides, restructuring the economy and companies cannot delay any further and is required to new momentums.

 

Restructuring and enhancing competitiveness to exist and develop, or collapse before the power of market is a puzzling crossroad that businesses and entrepreneurs are facing. To restructure, they must position themselves. They will see them in a clearest view when they are in difficulty. They must give top priority to corporate foundations of development, that is to say, enhancing corporate governance and human resource quality. They must reach international governance standards and stimulate the creativity and spirit of Vietnamese entrepreneurs.

 

Vietnam impossibly has world-class businesses and entrepreneurs in terms of finance and technology in one or two days. But, the Vietnamese business community and businesspeople, though their small and medium scales, must have desire and determination to reach international governance standards. Is this one of priority orientations for corporate restructuring in Vietnam?