Enterprises need technology investment after crisis

To achieve sustainable development after the global economic crisis, domestic enterprises need to improve technology and restructure to be competitive.

This was highlighted at the Vietnam Entrepreneur Forum 2010 held in HCMC on Wednesday to begin Vietnamese Women’s Week that lasts until March 8 to celebrate 100 years of International Women’s Day (March 8). The forum was organized by the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Women’s Union.

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Vice State President Nguyen Thi Doan told some 500 enterprises at Reunification Palace on Wednesday it was easy to see that the global economy was in the restructuring process with the rapid growth of science and technology. As a rule, to achieve sustainable development after an economic crisis, it is necessary to improve technology and restructure the economic system. Any country winning in the technology competition will be a leader in the next economic development period.Doan encouraged enterprises to improve human resource quality, technology and management.

Le Xuan Nghia, vice president of the National Financial Supervisory Commission, agreed that the post-crisis period was a time to restructure the country’s economy. “Technological innovation is the key for enterprises to restructure,” Nghia said, adding that innovative technology would help enterprises increase production capacity and product quality and reduce manual labor.

Nghia said equipment and machinery suppliers worldwide were reducing prices and that the global economic slump was providing an opportunity for local enterprises to make investments at reduced costs.

However, he noted that small and medium enterprises were meeting difficulties in accessing bank loans and that the Government needed to change the policy to help them.

According to Tran Thi Thuy, VCCI deputy chairwoman, the highlight of Vietnamese Women’s Week will be the awarding of six ‘Golden Roses’ to important women. They are Vice State President Nguyen Thi Doan, Tong Thi Phong, deputy chairwoman of the National Assembly, Ha Thi Khiet, head of the Party Central Committee’s Commission for Mass Mobilization, former Vice State Presidents Nguyen Thi Binh and Truong My Hoa, and former Party Central Committee Commission for Inspection Chairwoman Nguyen Thi Xuan.

Tags: technology in vietnam, Vietnam enterprises, Vietnam IT, Vietnam technology