(Photo: kinhtedothi.com)

At a seminar on innovations for businesses in Hanoi on Wednesday, participants said 18 months into the pandemic, businesses are facing bigger difficulties than ever. To survive this difficult time, they suggested balancing cash flows, making policies and mechanisms to monitor the budget, being financially transparent, building a legal framework to handle crises, and fully tapping technological applications in production and business activities.

(Photo: kinhtedothi.com)

Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry, urged for innovation. He said, “We have learned that enterprises that take the lead in digital transformation and innovation are able to move ahead of those who don’t. Retail and services companies have abandoned their brick-and-mortar stores to operate on e-commerce platforms.”