When businesses return to the market

Looking for opportunities

Anh Duong Technology and Tourism Trading Company Limited (Hai Duong City) was established in 2007, operating mainly in the field of passenger transport and tourism services. When the business was gradually stabilizing, in 2021 it faced the Covid-19 epidemic. The company's business was banned during the outbreak, affecting the business situation. After consideration, the company's leaders decided to temporarily suspend operations. In early 2023, the company registered to resume operations despite still facing many difficulties.

Mr. Pham Van Diep, Director of Anh Duong Technology and Tourism Trading Company Limited, said that after many years of operation, the company has had reliable customers. Therefore, after the epidemic is controlled and the economy recovers, the company wants to restore and resume operations to grasp and take advantage of new advantages. Currently, the company's business situation cannot be compared to the time before the epidemic, but there have been positive changes.

Hung Thinh Trading and Service Joint Stock Company (Chi Linh), newly established in 2021, has faced "storms" due to the pandemic and had to announce its suspension of operations. This enterprise has also just re-entered the market since mid-2023 and has quickly changed its business strategy to adapt to new conditions. Operating in the highly competitive construction sector while its market share is increasingly narrowing, the enterprise has proactively sought partners in other provinces and cities. Recently, the economy has shown signs of recovery but there are still many risks when material prices increase, inflation causes people to tighten spending, and invest less in construction.

Mr. Nguyen Duc Hung, Director of Hung Thinh Trading and Service Joint Stock Company, said that with this comeback, the company focuses on providing irrigation services in the Central provinces to reduce competition. After gradually stabilizing, the company will move towards new goals. Re-registering to operate helps the business have full legal status to carry out large contracts.

Power steering required

In 2023, Hai Duong recorded positive results in business development. In addition to the high number of newly established enterprises (more than 1,800 enterprises, reaching the set target), the number of enterprises returning to the market was also quite good. During the year, the province had nearly 1,000 enterprises registering to resume operations, an increase of 12.6% over the previous year. These figures show positive signs of recovery of the business community in the face of economic challenges. However, the enterprises returning to the market are mostly small and micro-sized, so their adaptability is not high and they are susceptible to risks when facing incidents.

An Phu Forklift Trading Service Company Limited (Hai Duong City) has just resumed operations but still has no solution for business development in the coming time. According to the company representative, the company registered to resume operations to complete the signed orders, but in reality, it is still struggling with the direction of its upcoming operations. Due to business difficulties due to the impact of the economic recession, the company had to temporarily suspend operations shortly after its establishment. At this time, the company is in dire need of a "lifebuoy" to support capital and policies. At the same time, the authorities need to provide guidance for the company to access preferential sources.

According to Mr. Le Hong Dien, Director of the Department of Planning and Investment, the increase in the number of enterprises returning to the market not only demonstrates economic recovery but also shows that the province's investment and business environment has improved a lot. In recent times, with its assigned functions and tasks, the department has advised the Provincial People's Committee on many solutions to promote business development. In particular, it pays attention to newly established enterprises and enterprises re-registering to operate.

The Department focuses on advising and proposing tasks related to administrative procedure reform, synthesizing recommendations from enterprises to report to the province for timely resolution, creating favorable conditions for enterprises in production and business activities. In order for enterprises to feel secure and confident in the investment and business environment in the province, the Department also hopes that agencies and units will actively coordinate with the planning and investment sector to accompany enterprises in production and business activities.