Inflation must be reined in at micro-level
15:31 | 24/07/2008
VGP – Vietnamese economists and corporate executives maintained that, apart from macro and long-term policies, drastic and immediate measures at the micro level (business community and the public) are vital.

By improving its productivity and quality, each enterprise can contribute to inflation curbing - Illustration photo

At the seminar “Curbing inflation: From the perspective of enterprise administration” on July 24 in Hà Nội, Dr. Hà Mạnh Tiến, President of the Việt Nam Association of Corporate Directors (VASD) held that any move of the enterprise community can cause great impact on the anti-inflation performance.

According to Director of the Việt Nam Institute of Economics Trần Đình Thiên, the short-term measures for macro-economic stability has come back on track. Now, it is necessary to lift difficulties at the micro-level. The business circle, in which small and medium enterprises hold the majority, is the driving force for growth, Prof. Thiên said, so an effective solution for inflation is to improve the performance of this force.

At the seminar, leaders from different enterprises shared their own experience of challenging inflation. Vice Director of the Military Bank (MB) Cao Thị Thúy Nga revealed that MB has been engaged consistently in the pursuit of sustainable growth by diversify its property to minimize risks and diversify its products to ensure profits.

General Director of AsiaInvest Nguyễn Ngọc Bách, who is also Deputy General Secretary of VASD stressed the effective system of risk management in all enterprises.

Many suggested enterprises review their portfolio, restructure capital resources, strictly control spending, promote thrift practice, and seek for stand-by sources of materials and goods.

By Hương Giang

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