Overcoming Difficulties to Accommodate Post-pandemic Investment Wave

The year 2020 emotionally elapsed. The world and Vietnamese economies have been facing numerous difficulties caused by the Covid-19 pandemic. Fortunately, Vietnamese businesses can still seize opportunities for growth, Mr. Tran Ngoc Diep, General Director of SDN, said in an interview granted to Vietnam Business Forum. Quoc Hung reports.

Did you confront any difficulty and challenge in business and investment activities when the Covid-19 pandemic broke out?

According to the business community, over 80% of businesses are being negatively affected by the pandemic. Due to the severe impact of the pandemic contagion, global investment flows will certainly slump. As a developer of industrial parks and real estate for investors in Da Nang City where the second Covid-19 pandemic outbreak occurred, we witnessed a negative impact on our business. Since the end of 2019, we have been directly affected by the Covid-19 pandemic as international commercial flights have not yet reopened. This has seriously affected many business lines, delayed development and frozen real estate transactions.

How did you overcome that difficulty?

No matter where we are, product quality is always our top priority. SDN also follows the general policy of SGI Group, which places the human factor above everything. Despite experiencing many unfavorable events, the group has never downsized staffing or reduced employee benefits but ensured good livelihoods for employees at all costs. Therefore, all the staff always stays with us and is determined to overcome all difficulties.

In that spirit, in the past five years, with its ongoing efforts and the support of the city, SDN has addressed all hardships in the way to achieve certain successes. The company has leased more than 90% of the rentable area in expanded Hoa Khanh Industrial Park and 60% of Lien Chieu Industrial Park. Urban areas are also largely distributed with reasonable prices and with top quality. The buyers are mostly unskilled workers in Da Nang City and neighboring provinces. Our products always have a full legal record and complete infrastructure.

What are your predictions and expectations for 2021?

After 2020, Vietnam has emerged as a safe place with a favorable environment. Boosted by a series of FTAs it has signed and entered, the status of Vietnam has been highly elevated. Tenants in industrial parks are mostly export processors and these trade pacts will help Vietnam draw more FDI. Foreign firms know more about Vietnam and Vietnamese companies will also become more confident to approach new markets. We hope that, in 2021, the Government will continue to lead the country to effectively prevent the pandemic, and eliminate bad actors that spoil our country.

Disease outbreaks, economic fluctuations and political uncertainties in the world have been changing the direction of investment flows. Vietnam is considered a destination of interest to investors around the world. How have you prepared to successfully accommodate these flows?

We will continue to be consistent with the goals and strategies that we set: Attracting FDI inflows. With respect to catching the shifted investment flows in the world, more than 10 years ago, we were very successful in catching the wave of redirected investment flows from developed countries and the relocation of factories in China to Southeast Asian countries such as Thailand, Indonesia, Malaysia and Vietnam. At that time, we grasped the opportunity to boost our image and, with the support from business associations in Taiwan and Japan, we then achieved positive results and received many big investors.

For the time being, we will continue to improve our competencies, work with authorities to get rid of policy setbacks and inappropriate procedures and upgrade infrastructure. We will continue to invest to make ourselves better to serve new investors, especially large high-tech investors. Currently, SDN has 30 hectares of urban areas and 100 hectares of industrial parks (with 50 hectares ready for lease) for new domestic and foreign investors. And, SDN hopes that Da Nang City will soon approve building new industrial parks. If we win the bid to develop these parks, we will continue to demonstrate our competencies and promote the experience and spirit of SGI Group to bring the best products and services to tenants.

On the occasion of the Lunar New Year, would you mind telling us your opinions about the role of businesses and entrepreneurs in national construction and development?

Enterprises need to find opportunities, boost investment, look for new partners and customers, and keep regular contact to let customers know that we are always ready to work and cooperate again.

I hope that enterprises and entrepreneurs will keep their spirit, respect the law and move toward sustainable development. Besides, they should tell themselves, their families and everyone around them to stay conscious, stay healthy and keep sharing with people at a disadvantage.

Source: Vietnam Business Forum