Creating sustainable businesses in Vietnam Businesses need to leverage innovative technologies to succeed in today’s competitive digital marketplace, experts have said. But for Vietnam’s small and medium-sized enterprises (SMEs) this could be a challenging prospect, they admitted. In a survey by Japanese electronics giant Epson of 864 SMEs in six of Southeast Asia’s largest countries by GDP, 62 percent of respondents in Vietnam cited cost as the reason for not updating technologies. With SMEs contributing 40 percent of Vietnam’s GDP, it is vital for them to be competitive in the regional and global markets. This means that business owners need to be building sustainable businesses that can adapt easily to change from an operation and environmental perspective. SMEs are at the heart of the nation’s economy, employing 51 percent of the workforce and accounting for 98 percent of all enterprises, and as such need to be empowered with the right tools to participate successfully in the emerging digital economy, the report said. Companies are also becoming increasingly aware of the need to act sustainably since this can positively impact company efficiency, brand value and reputation, growth, and stakeholder relations. From an operations perspective, SMEs can benefit from the adoption of… Read full this story
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