The Vietnam Chamber of Commerce and Industry (VCCI) organized a Workshop to announce the Report Braving the Waves: Survey Result on Covid-19 pandemic impacts on women-led enterprises. The event is within the framework of the Project Strengthening the voice of businesses in the supervision and implementation of economic restructuring - under the Australian Program to support Vietnam's economic reform - Aus4Reform.

Overview of the workshop to announce the Report Braving the Waves: Survey Result on Covid-19 pandemic impacts on women-led enterprises

At the workshop, Mr. Dau Anh Tuan - Deputy General Secretary, Head of the Legal Department of VCCI said that from 2020, the COVID-19 pandemic has severely impacted the Vietnamese business community in general and female-owned businesses in particular

The epidemic has caused negative affected on 87% of female-led enterprises, it also caused a decrease in revenue and a sharp increase in business losses compared to previous years.

In 2019, 61.1% of women- led enterprises made profits and 27.1% of enterprises suffered losses; but by 2020, this rate l decreased, only 53.2% of women -led enterprises were profitable and 32.1% of businesses were at a loss. In 2021, the rate of profitable female-led enterprises was only 42.7% and the rate of loss-making businesses increased to 39.2%.

Mr. Dau Anh Tuan - Deputy General Secretary, Head of the Legal Department of VCCI

According to Mr. Dau Anh Tuan, although women -led enterprises have been significantly affected by the COVID-19 epidemic, the contribution of female-led enterprises to Vietnam's socio-economic growth over the past time has been very positive. The list of typical Vietnamese entrepreneurs in 2022 has just been announced by VCCI, showing that up to 15 out of 60 entrepreneurs are honored to be female, accounting for 22%, the highest ever.

Not only playing an important role in large enterprises, Mr. Dau Anh Tuan also said that Vietnamese female entrepreneurs also play an important role in hundreds of thousands of small and medium enterprises as well as production and business households.

“In fact, the survey results of women -led enterprises under the impact of the COVID-19 epidemic show that women-led enterprises face more difficulties than men-led enterprises, but the rate layoffs are lower in women -owned enterprises than in men-led enterprises. Thereby, it can be seen that the humanity in the business culture of women -led enterprises is a clear mark," shared Mr. Dau Anh Tuan.

General Director of Secoin Building Materials Joint Stock Company – Ms. Dinh Hoai Giang shared at the Workshop.

In addition to the results indicated in the VCCI Report published, the actual difficulties that businesses have been and are facing were also informed by female entrepreneurs at the workshop.

According to General Director of Secoin Construction Materials Joint Stock Company – Ms. Dinh Hoai Giang, in the two years of COVID-19, the company faced many difficulties, revenue decreased continuously. In particular, transportation costs have increased, eroding corporate profits, if before exporting a container to the US from only $ 5,000 - 6,000, now it has increased to $ 15,000 - 16,000, the price of goods going to the Japanese market has also increased from $200 to $500.

General Director of Bao Minh Agricultural Products Processing Joint Stock Company – Ms. Bui Thi Hanh Hieu at the workshop.

According to General Director of Bao Minh Agricultural Products Processing Joint Stock Company - Bui Thi Hanh Hieu, the expenses incurred in 2 years of COVID-19 prevention and control made the company's finances exhausted. Currently, businesses are having a hard time in terms of capital to stockpile Lunar New Year goods...

In fact, according to the Report published by VCCI at the Workshop, although the percentage of women-owned businesses in Vietnam, although there was some improvement in the period 2011 - 2018, it decreased in the years from 2019 to 2021; and have not yet achieved the target set out in the National Strategy on Gender Equality for the 2011-2020 period. The size of women-led enterprises is concentrated at small, micro, and with a lower average size than male-led enterprises.

Chairwoman of the Vietnam Council of Women Entrepreneurs – Ms. Nguyen Thi Tuyet Minh shared about the difficulties and obstacles faced by women-led enterprises.

At the workshop, Chairwoman of the Vietnam Council of Women Entrepreneurs (VCCI) – Ms. Nguyen Thi Tuyet Minh also said that in recent years, female entrepreneurs have increased in quantity, quality and scale. However, the difficulties of women-led enterprises still face many difficulties and challenges, especially in the context of the COVID-19 epidemic.

“Currently, in the recovery process, women- led enterprises are facing four main difficulties including: Finding customers (64.3% of businesses are facing); Access to credit capital (34.1% of enterprises); 33.7% of enterprises are experiencing market fluctuations; 27% of businesses find it difficult to find suitable personnel,” said Ms. Nguyen Thi Tuyet Minh. Therefore, to help women-led enterprises the Report also recommends that localities should give priority to women-led enterprises in the business support program, further support access to credit; suggested that the Government consider including the issue of facilitation and promotion of women-owned businesses in the Government's Resolution on improving the business environment and enhancing national competitiveness to promote gender equality in the economic field, contributing to the realization of sustainable development goals; step up the reform of all administrative procedures related to businesses, especially in the field of land, taxes, fees...