The Covid-19 epidemic has caused quite severe negative impacts on the global economy. The world is witnessing a very serious global economic crisis, including Vietnam. However, according to experts, Vietnam can still be optimistic because "in danger". This is the period if Vietnam makes good use of this unique opportunity, it will create a growth spurt in the coming years.
Minister of Planning and Investment Nguyen Chi Dung, when speaking at the recent Prime Minister's Conference with businesses, also said that: Currently, the prestige and position of Vietnam is being assessed by the international community. through the recent successes in the fight against the Covid-19 pandemic. And this is the "golden opportunity" for the world to know about Vietnam, with the special advantage of "strategic credibility", as a safe investment destination and ready to receive capital flows to move to Vietnam. Vietnam.
Especially, the US-China trade war tended to increase and became more complicated last year, the world began to tend to shift investment from China to Vietnam. The Covid-19 pandemic has accelerated this trend. Not only the US, but also many European countries, including Japan, have also called and declared their readiness to support their companies to move production out of China to reduce dependence on this economy.
At the online seminar with the content "Removing cash flow problems for businesses in times of crisis", the speakers gave their opinions on the opportunities and challenges that Vietnam has with FDI inflows. move and discuss whether Vietnam has missed the "golden opportunity".New Paragraph
Experts discuss the issue of catching the wave of FDI shifting in Vietnam in the post-Covid-19 period (Screenshot)
Ngo Cong Truong - Chairman of John&Partners Consulting & Education Company commented: "This is a golden time for businesses to take advantage of to do Branding for businesses. He also said that now Apple and Samsung have begun to signal the shift to Vietnam. These large corporations have chosen Vietnam as an alternative."
Therefore, Mr. Truong said: Through this Covid-19 wave, there will be 2 situations. One situation is that countries will unite, stick together and support each other to create momentum for the world economy to explode. The second situation that is happening is that countries are wary of each other. And it is during this period that Vietnam is unknowingly gaining the highest trust with the world community.
"This is possible due to our country's high flexibility and adaptability. This is a parallel opportunity to compete in both technology and knowledge. In both aspects, I believe Vietnam can be compared with Vietnam's competitors. countries in the world," Truong emphasized.
Mr. Dang Van Thanh - Chairman of TTC Group, Chairman of Vietnam Brand Club also shared the same opinion. According to Mr. Thanh, an accurate saying in Vietnam for this moment is "in danger" because after this Covid-19 pandemic there will be a huge shift. He also said that at this time we should restructure the input and output of the economy. Expand more markets to prepare for a large shift after the pandemic. This is a great opportunity for Vietnam.
And the founder of BizUni School of Business Administration, Co-founder of the Management and Startup Group, said that countries around the world are losing faith in China since the Covid-19 epidemic took place. When the epidemic broke out, new countries realized they were relying too much on China for economy and production.
"Recently, the US has chosen Australia, India, Japan, New Zealand, South Korea and Vietnam as countries that can replace China to boost the global economy and supply and produce goods. Currently we are standing. However, in order to make good use of the opportunity, we have to review the government's policies and need to expand further to be able to make good use of this opportunity," a BizUni representative said. more.
"The change to the supply chain from China has been around for a few years. The outbreak has contributed to speeding up the progress of this. However, in the opportunity we also have a huge challenge." Mr. Huynh Buu Son - Banking and finance expert said.
According to Mr. Son, if we do not make appropriate changes, countries will come and go again. To do this well, first of all, we need to create an investment environment, a really good and equal playing field for FDI inflows as well as perfect both the law and access to domestic and international financial resources. domestic resources and human resources.
Second, policies on macroeconomics, exchange rates and interest rates must be perfected so that the economy has low costs, not high interest rates as today. If this goes on for a long time, it's easy to miss this opportunity.
Focusing on improving labor productivity to increase income is extremely important for stable and long-term development in the future. We have to take advantage of this time to do things that we haven't done yet. More supporting industries must be built to increase the localization rate of Vietnam's products. If we can't do this, we will forever be just a product outsourcing country. We will fall into the trap of low middle income and it will be difficult to develop the economy.
According to Mr. Kao Sieu Luc - General Director of ABC Bakery, this is an opportunity for Vietnam because currently countries are relying on Chinese raw materials a lot. In case if China cannot recover, other countries will also find it very difficult because they are still dependent. At this time, Vietnam should think more about the production of raw materials so that it can "self-consume" without having to depend on China.
