Nguyen Manh Hung, Vice President and Secretary General of the Vietnam Standards and Consumer Rights Protection Association, says the open-door economic policy provides many opportunities for foreign products to penetrate the domestic market. Success stories of FPT and Trung Nguyen (Highland) Coffee show that local businesses can do the same if they know how to upgrade their technological facilities, and improve the quality of products and services.

FPT Group Vice President Nguyen Huu Thai Hoa insists that businesses need to be self-reliant in their approach to markets in the world.

Vissan Company General Director Van Duc Muoi emphasises that Vietnam’s entry to the World Trade Organisation (WTO) makes it possible for businesses to gain a leg up on international competition.

Muoi proposes restructuring the agricultural sector to promote regional trademarks and lay a firm foundation for economic and business growth in the future.

Economist Bui Kien Thanh says Vietnam cannot build global trademarks if intellectual property rights continue to be violated and the financial system fails to meet business demand for capital.

The Government has established an export coordination centre to assist domestic businesses in their approach to international economic groups.

Thanh says Vietnam’s export turnover can surpass the 2012 level of US$118 billion if businesses regularly get updated on international market trends as well as specific economic and commercial regulations.

Thai Hoa notes that many big businesses remain optimistic about their capacity to weather the storm. Even when they are pushed to the brink of bankruptcy they will find new ways.

National Assembly Economic Committee Vice Chairman Nguyen Duc Kien says national economic growth must be closely associated with the development of businesses. The Government should find proper solutions to support them in playing the game, according to the rules of the market economy.