Selecting a suitable business strategy amidst the current global recession is crucial to Vietnamese firms, Vu Dang Vinh, General Director of Vietnam Report JSC, said, advising them to carefully manage risk while actively pursuing opportunities.
Selecting a suitable business strategy amidst the current global recession is crucial to Vietnamese firms. (Photo: VNA)
Selecting a suitable business strategy amidst the current global recession is crucial to Vietnamese firms, Vu Dang Vinh, General Director of Vietnam Report JSC, said, advising them to carefully manage risk while actively pursuing opportunities.
Vinh said the present slow economic growth and potential risks from new variables require businesses to work harder to raise their competitiveness and bring into full play opportunities to grow further.
He said given not so positive signs of the economy in the first two quarters of this year, many firms have chosen to take a cautious attitude. However, in any crisis, even during the hardest time, new ideas and opportunities still exist for those who know how to seize them, he said, pointing out that firms can reposition themselves and change their business strategies to suit the situation.
For the stock market, which is on the path of recovery following manipulation cases, Vinh stressed the need to put forward a good marketing strategy, and regarded consolidating the reputation and image of businesses in the eyes of investors and shareholders as a key to maintaining confidence in the market.
Illustrative image (Source: VNA)
Earlier, Vietnam Report announced the list of the top 50 prestigious and effective public companies of 2023 (VIX50), which saw newcomers like Airports Corporation of Vietnam, Binh Minh Plastics JSC, Viettel Construction Joint Stock Corporation, and Vietnam Rubber Group, among others.
The businesses have been honoured for their efforts and impressive achievements given uncertainties over the past time.
Notably, there were 29 companies with market capitalisation exceeding 1 billion USD, 25 with revenue of over 1 billion USD, and 43 with profits surpassing 1 trillion VND (42.28 million USD).
The banking sector dominated the list with 15 representatives, followed by the real estate industry with six firms; construction and building materials, five; and transportation, logistics, food and chemicals, each with four.
VIX50 provides a panorama on operations of public enterprises, as well as the resilience and leading role of major ones./.
Source : https://en.diendandoanhnghiep.vn/firms-advised-to-pursue-opportunities-while-carefully-managing-risks-amidst-global-recession-n37669.html
