Besides Covid-19 vaccine, there is a need for “vaccine” on institution for enterprises

Business's resilience needed to be improved in the context of many risks. Photo: H.Dịu

According to experts, from the beginning of the year to now, the Covid-19 pandemic has returned with a faster and more dangerous spread when "attacking" domestic industrial zones, which may pose a risk of causing serious disruption on supply chain.

Dr Vu Tien Loc, Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), said the situation was more difficult when the room of fiscal and monetary policies is narrowed down. The resilience of businesses from 2020 was still weak when the disease broke out again.

Therefore, some forecasts about Vietnam's economic development rate made by international organisations stated that before another outbreak of the Covid-19 pandemic, it would be difficult to meet expectations and the growth recovery process would become more difficult.

In this context, the experts said it is necessary to have the consensus of the entire political system. They must be very flexible in their economic management and response to the pandemic, while businesses must also have an administration system with better resilience.

According to Luu Binh Nhuong, Deputy Director of People’s aspirations Committee of National Assembly, people are now placing great demands on the Government and ministries, sectors and localities, especially in how to maintain growth rhythm.

The second problem is how to ensure people are united in pandemic prevention As well as how to reduce people's anxiety and increase trust in the ability of the Government’s operation.

The third problem is the Government puts anti-pandemic requirements in parallel with production and business. This requires a specific and effective mechanism, solution and determination. "This is a complicated problem", Nhuong said.

On the side of the business community, Loc said that, in the current context, what the business community wanted and recommended was the successful implementation of an action government. The motto of living with the pandemic must be reflected in every policy design and in the model of State governance and corporate governance. The State regulations also need to be more flexible.

“Besides medical vaccines, it is necessary to have a 'vaccine' in terms of the institution and structure of enterprises, and it is needed to have a reasonable system of State policies to support the formation of a model and strengthen the capacity of enterprises’ resilience,” the VCCI Chairman stated.

Loc explained that in the future, businesses still will have to deal with many changes such as climate change, business environment and international environment, etc. Therefore, strengthening the resilience of firms was very important to enhance the resilience of the economy.

Also on this issue, Nguyen Sy Dung, former Deputy Chairman of the Office of the National Assembly, assessed the Government and Prime Minister were taking the right directions. A strong government would help the country make great progress.

However, Dung especially emphasised the importance of vaccination against Covid-19 pandemic, because, Vietnam is taking control the Covid-19 pandemic prevention, but in terms of creating community immunity, we seem to be behind. Moreover, Vietnam has an opportunity from shifting supply chains and benefiting from being a safe country during the pandemic. However, this year, Vietnam could lose that reputation without a huge development in the vaccination rollout.