MARKET FOR BUSINESS DEVELOPMENT SERVICES IN VIETNAM
MARKET FOR BUSINESS DEVELOPMENT SERVICES IN VIET NAM
Business Development Services (BDS) in general are defined as “are services that improve the performance of the enterprises, its access to markets, and its ability to compete (training, consultancy and advisory services, marketing assistance, information, technology development and transfer and business linkage promotion…), medium-terms and long-term strategies in order to improve the performance effectiveness and operational activities (daily issues) of the enterprises”.
BDS plays an important role in the development of enterprises, especially small and medium enterprises. Many studies in the world have shown that the use of BDS can help businesses better understand and adapt business opportunities, adjust and adapt to market fluctuations, more cost effective, as well as optimizing organizational and business strategiesand etc. Thanks to the use of professional, qualified BDS, SMEs can specialize in activities when resources can be concentrated on the competitive advantage in the production process, as well as reducing risks during operation. Therefore, many countries in the world have policies to develop the market to provide BDS, to promote the development of the business community.
In order to make the opportunities a real benefit for the business community in Vietnam, as well as to mitigate the challenges of an ever-expanding international economic integration, capacity building Vietnamese businesses, through the development of the market to supply of business development services is very crucial. The PCI study has shown that the growth of BDS (from business information search, trade promotion, legal consultancy, technology services, business management training, labor services, etc…), except in 5 municipalities , in most provinces and cities in Vietnam, the quality is limited or even low. This may explain some phenomenon of the number of business suspension, dissolution, bankruptcy are increasing, when they can not find necessary consultancy services, business development services for the restructure process to maintain operations.
Therefore, in 2018, the Vietnam Chamber of Commerce and Industry (VCCI) and the Friedrich Naumann Foundation (FNF) have conducted a research on “The Market for Business Development Services in Viet Nam”, seeking solutions to help establish a market of high quality and efficient BDS to meet the demand of strong development of enterprises now and in the future of Vietnam.