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Economist Vo Dai Luoc said prices of various materials for production and construction have fallen sharply on the global market. Businesses could take advantage of this by buying and using more of these materials.
In addition, major companies worldwide have been sacking thousands of employees, including many experienced experts - so Vietnam should create policies to attract them, Luoc said.
One example of using the crisis to advantage was when Vietnam Oil and Gas Group (PetroVietnam) Chairman Dinh La Thang recently asked the Prime Minister to allow the group to purchase oil fields from troubled companies and also recruit their staff.
Le Quoc An, chairman of the Vietnam Textile and Apparel Association, said the global economic downturn forced many textile companies worldwide into bankruptcy. Now they want to sell production lines and equipment at really low prices, only 15-20 percent of market prices, he said.
Local companies are apparently well aware of the silver linings of the current slowdown. But it is still a question of how they can turn silver into gold.
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