Institute of Business Research Organizes Seminar on "Solutions to Support Small and Medium Enterprises in Recovering from the Pandemic—Global Experiences and Implications for Vietnam"

17/12/2021

On the morning of December 17, 2021, the Business Research Institute (IBR) successfully organized a seminar titled "Solutions to Support Small and Medium Enterprises (SMEs) in Recovering from the Pandemic—Global Experiences and Implications for Vietnam."

The seminar was chaired by Prof. Dr. Nguyen Dong Phong, Chairman of the University Council, Prof. Dr. Vo Xuan Vinh, Director of the Business Research Institute, and Dr. Tran Dang Khoa, Head of the Research Group at the Institute, with participation from over 30 esteemed scholars.

MSc. Nguyen Phan Truc Phuong presented key findings from the research, focusing on the following main topics:

• Research Motivation:

  • SMEs play a significant role in Vietnam's economy, employing a large workforce. However, their limited access to financial resources, weak supply chains, and low levels of digital technology adoption make them particularly vulnerable compared to larger enterprises during the COVID-19 pandemic. This study aims to identify solutions to support SMEs in recovering their business operations.

• Challenges Faced by SMEs Due to COVID-19:

  • The unexpected progression of the pandemic and government-imposed distancing measures have severely impacted SMEs, leading to supply chain disruptions, shrinking markets, labor shortages, and financial issues.

• Global Solutions to Support SMEs:

  • Countries quickly implemented policies to help SMEs mitigate pandemic-related damages, such as simplifying administrative procedures (e.g., loan application processes), enhancing digitalization, and increasing liquidity for these enterprises. Additionally, many countries have initiated policies to help SMEs recover post-pandemic by monitoring the crisis's effects and encouraging technology-related innovations.

• Policy Recommendations for Vietnam:

  • Based on the solutions from other countries and Vietnam's current situation, the research group recommends timely policy responses to address pandemic-induced losses while ensuring effectiveness. Measures such as vaccine distribution and contingency policies for potential future outbreaks will aid in the gradual recovery of SMEs.

The seminar concluded with a lively Q&A session and discussions between the presenter, advisory board members, and participating scholars.

Institute of Business Research sincerely thanks all esteemed participants for their interest and attendance.

Source: Institute of Business Research