Workshop on business responses to US reciprocal tax policies provides businesses with useful information

East but not yet refined

By mid-2025, Hue had more than 6,100 operating enterprises, an increase of more than 2,000 enterprises compared to 2020. In the first 7 months of the year, 552 newly established enterprises were established, an increase of about 30% over the same period, leading to a total registered capital increase of 144%. These are very remarkable numbers. However, during the same period, 649 enterprises temporarily suspended operations. Obviously, growth in quantity does not mean maturity in quality. A fragmented business community, mainly micro, small and medium, can hardly be the main driving force for the transformation of a centrally-governed city like Hue.

It is worth pondering that if the goal of 1,000 new enterprises is just to provide accounts to the digital trade promotion ecosystem, then that achievement can be achieved relatively easily but is not commensurate with the expectation of building a dynamic private economic sector. Because a digital ecosystem cannot operate effectively without technological capacity, lack of real data and lack of subjects who know how to take advantage of that platform for growth.

In recent discussions, many enterprises in Hue frankly shared about the difficulties and obstacles they are facing. Among them, the common difficulties are that many enterprises do not have an electronic accounting system, do not know how to approach e-commerce, let alone apply data analysis technology, AI or digital tools to business management...

Faced with such challenges, authorities at all levels are showing their determination to accompany. Typically, administrative reform and support for businesses in localities are regular and continuous tasks. Many policy dialogues, tax and land consultations, digital transformation training, etc. to improve business capacity are organized by relevant agencies. However, what the business community needs more is a strong, synchronous and practical ecosystem to move from "wanting" to "daring" and "being able to do".

In fact, it is not difficult to issue codes and accounts for new businesses. However, in order for these businesses to “live well”, survive the first phase and have the strength to expand, they need more accompanying conditions. These are easily accessible technology platforms, preferential credit packages with consulting, appropriate tax policies, connections between domestic and foreign markets and especially a system for training human resources with digital capacity, understanding of the market, and enough competitive spirit.

Promote internal strength

Vice Chairman of Hue City People's Committee, Mr. Phan Quy Phuong, repeatedly affirmed at conferences and dialogues with enterprises: The city government will continue to improve the business investment environment, promote creative startups, support enterprises to expand markets, and remove difficulties for enterprises of all economic sectors. These commitments are being materialized through specialized seminars, investment promotion programs, efforts to improve administrative procedures, and inter-sectoral coordination between tax, customs, banking, insurance, logistics, etc.

However, it cannot be denied that the biggest challenge still lies in the internal capacity of enterprises. It must be frankly admitted: Without a comprehensive enterprise development strategy, small and medium enterprises, which account for 97% of Hue's business community, are very vulnerable to market shocks. And then, beautiful quantitative indicators will no longer have much real meaning.

In the context of the country aiming to have 2 million enterprises by 2030, equivalent to 20 enterprises/1,000 people, Hue with its current population needs about 22,000 enterprises to reach the common ground. But more than counting numbers, Hue needs a truly competitive business community, capable of participating in and leading the regional value chain, and able to apply technology to make breakthroughs in advantageous fields such as creative industry, high-quality healthcare, education , and smart tourism.

Shifting investment attraction is also part of a long-term strategy. That requires local businesses to upgrade themselves, if they do not want to fall behind in a new competitive playing field.

It is impossible to expect that “1,000 new enterprises” will immediately change the economic face of Hue. But if implemented in the right direction, with quality as the root, technology as the lever, and entrepreneurs as the center, this could be the foundation for a new generation of enterprises: more modern, more sustainable, and carrying the mission of preserving Hue’s identity in a volatile world. And it is this generation of enterprises, not the numbers, that is the true measure of the development capacity of a centrally-governed city.

Article and photos: Quynh Vien

Source: https://huengaynay.vn/kinh-te/de-doanh-nghiep-lon-len-cung-khat-vong-cua-thanh-pho-156762.html