Mr. Ngo Cong Truong - Chairman of John&Partners Consulting & Education Company

To assess the situation of Vietnam's economic recovery in 3-6 months, Mr. Ngo Cong Truong - Chairman of John & Partners Education and Consulting Joint Stock Company said that we should look further. Because currently the US announced that it is expected that social isolation may be until 2022. Harvard University also made a judgment that everything will return to normal after 2022.



Truong also said that this is also the time when some personal and corporate behaviors change permanently. We need to accept this change. If in the past people were the most valuable assets of enterprises, now the right people are the most valuable assets. Therefore, he is very optimistic that in the next 3-6 months everything in Vietnam can be restored.

Besides, the Chairman of John & Partners Education and Consulting Joint Stock Company also gave advice to Vietnamese businesses: "If the world is closed because of the epidemic, that is an opportunity for me. In the next 3-6 months, the Enterprises, please analyze which industries that foreigners cannot recover within the next 12 months, they must prepare well.I prepare from now on to be able to accelerate breakthroughs and dominate the world market, That is a great opportunity for Vietnam."

For the planning of business plans of enterprises in the long term and necessary solutions when unexpected contingencies occur so that enterprises can adjust accordingly, according to Mr. 5-year strategy and 10-year vision. In the past time, when approaching many multinational companies and large corporations, there are internal regulations in these units that they have a strategy of no more than 3 years and a vision of 5 years. Each year, they will re-evaluate 4 times on a quarterly basis, and always offer flexible and continuous policies in line with the actual situation.

According to Mr. Truong, from a personnel perspective, they still need short-term successes and victories, so businesses need to be more flexible. The current trend in large corporations is to divide businesses into many segments to do. The part that cannot be done, the report will be dropped and focus only on the parts that can be developed.

Chairman of John & Partners Education and Consulting Joint Stock Company also said that small and medium enterprises in difficult times always have two problems that need to be solved: revenue and cost. In this difficult time for small and medium enterprises, sales to earn every penny is very valuable.

Businesses should now use their "dry wages", which means that this is the time when small and medium enterprises should take the money they have saved to use. Or if you have property, you can sell it, take your blood to save yourself. No one can save you like yourself. Equally important is that businesses need to cut all unnecessary costs to the lowest possible level.

He also quoted a very famous saying, an advice of startups from Silicon Valley: "Look at a business plan or a startup doing is a business. Startups in Vietnam often consider startups to be startups. like a brainchild, but considering it as a child, it is very difficult for us to give up. If we love our "spiritual child" too much, we can try for another 6 months, if not, then put it away and if it is, then remove it immediately."

Chairman of John & Partners Education and Consulting Joint Stock Company also commented: “This is the period when businesses can give up everything to return to zero. Return to the starting line to restart. Small and medium enterprises have tried and failed a lot. So at this stage, if it's too difficult, just consider yourself wrong and start over. This is very harsh advice but fair and realistic.”

Speaking about the opportunities as well as challenges that Vietnam has with the shifting FDI inflows, Mr. Truong commented: "This is the golden time for businesses to take advantage of. To do Branding for his business, 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.