Vietnamese businesses worry about weak competitiveness
A survey found that only 32 percent of businesses have confidence in the competitiveness of their products, while others are worried about the increased presence of foreign goods. Chu Tien Dung, chair of the HCMC Business Association, said at the meeting between HCMC’s leaders and domestic businesses that the business circle has a lot of difficulties. Though the number of newly established businesses in 2016 increased significantly, which showed investors’ confidence in the business environment, their scale, ability and competitive edges remain weak. Because of this, plus the high production costs and outdated production technology, only 35 percent of total businesses can contribute to the city’s budget.
