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Seminar helps firms improve management

Update: August, 31/2012 - 10:34

HCM CITY — A seminar to help businesses better manage and access capital was held yesterday in HCM City with the participation of more than 200 economists and firms.

Deputy general secretary of the Viet Nam Chamber of Commerce and Industry (VCCI) Vo Tan Thanh said that the Government's measures to control inflation and stabilise the macro economy would help improve the business environment. Therefore, it was necessary to help firms access capital and use it more effectively.

Representative from the VCCI's Viet Nam Business Insight Survey Doan Thi Quyen said as firms have so far faced major capital shortages due to high unsold inventories, the Government should speed up investment projects, encourage firms to use each others' products, develop the domestic market and enlarge export outlets to stimulate consumption.

Economist Dinh The Hien recommended that firms should accept a certain level of losses and sell off their products at cheaper prices to retrieve capital. They should also offer larger promotions to be able to win big contracts.

As for production, Hien suggested firms buy only enough raw materials for production instead of buying extra for speculation as they previously did.

It was also necessary for firms to work together to rotate capital and reduce loans, he said.

Economist Tran Du Lich said that the Government should try to avoid inflation to help businesses.

Lich forecast that the Government next year would continuously take measures to stabilise the macro economy and would not lose financial policies.

The country's economy next year would not change significantly with slow growth, Lich said, adding that investment and consumption would also remain low. — VNS

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