Sharing about the business situation, Mr. Le Hong Trien - Director in charge of the domestic market of Vina Star Packaging Co., Ltd. - said that the price of plastic granules has increased by about 40-45%, causing businesses to continuously adjust selling prices. However, the greater difficulty is the choice: should raw materials be stockpiled at high prices to keep orders, or keep cash waiting when the geopolitical situation stabilizes to buy at a better price. According to Mr. Trien, if the decision is not appropriate, businesses may be significantly affected by cash flow and profits.
From an overall perspective, Mr. Nguyen Ngoc Hoa - Chairman of the Ho Chi Minh City Business Association (HUBA) - said that the business community sees the second quarter as a "interval" period, when the "coaches" will adjust tactics to enter the next stage more effectively.
From that assessment, the issue raised is not only overcoming immediate difficulties but also preparing for the acceleration phase. In the period from one month to one quarter, both businesses and management agencies need to fully prepare the necessary conditions, with the expectation of a breakthrough from the third quarter. This is also consistent with the context when the entire political system is joining in, creating a foundation for a new impetus from the end of the second quarter to the beginning of the third quarter.
However, to take advantage of this "interruption period", the responsibility first and foremost still lies with the business community. Faced with market pressure, businesses are forced to improve their ability to maneuver and adjust response methods. Restructuring needs to take place simultaneously at both input and output. Input must be optimized to reduce costs, while output needs to diversify the market to avoid dependence.
Along with that, businesses must find every way to cut costs but still maintain investment, even accepting no profit in the short term to prepare for the next development cycle. Businesses may only achieve breakeven but need to boldly invest in digital transformation, green transformation and new market standards to move towards sustainable development.
From the perspective of export businesses, Mr. Pham Van Xo - Chairman of the Ho Chi Minh City Import-Export Association - said that businesses need to restructure the supply chain and resources through market diversification, prioritizing near markets to optimize costs. At the same time, it is necessary to expand markets, avoid dependence on traditional markets, and flexibly combine large and small orders to disperse risks.
At the same time, investing in technology, especially AI, can significantly reduce logistics costs. Businesses also need to meet green standards, towards sustainable development and enhance localization to be proactive in raw material sources.
Quarter II may not be a breakthrough time, but it is an important "push-up" period. In this "mid-quarter" period, careful preparation will determine the business's ability to accelerate when entering the recovery cycle ahead.
