Become a billionaire by taking advantage of the opportunity from the pandemic

Thứ Năm, 15/4/2021| 14:32

Become a billionaire by taking advantage of the opportunity from the pandemicAccording to a recent Forbes report, the number of billionaires increased by 660 people to 2,755 billionaires, an increase of about 30% compared to last year.

 

 

Zoom - a familiar application of many Vietnamese people during the Covid-19 era with booming revenue due to a sharp increase in the number of users under the need for social distancing to prevent epidemics. This company earned 882.5 million USD in the first quarter of 2021, an increase of 369% over the same period last year before world life was turned upside down due to the Covid-19 pandemic. Net income this quarter reached $ 260.4 million, much higher than the $ 15.3 million in the same period last year. Zoom forecasts revenue for the current fiscal quarter to be between $ 900 and $ 905 million and revenue for this fiscal year to be at least $ 3.7 billion. 

Benefiting from the anti-Covid-19 gap, the e-commerce firms announced a big win. Colin Zheng Huang, the chairman of the e-commerce site Pinduoduo, increased from $ 32.4 billion to $ 52 billion this year. Meanwhile, Jack Ma - the co-founder of Alibaba earned an additional $ 18.9 billion, bringing his net worth to $ 61.7 billion.

Besides, the medical industry is also can not be ignored. In 2020, Singapore's richest person, Li Xiting, chairman of the medical equipment company Mindray Bio-Medical Electronics (Mindray), made $ 1 billion a month, acknowledgments to his medical device company's stock price sailed in the middle of a pandemic. The rapid spread of Covid-19 has made the demand for this new test kit, protective gear and treatment of the virus skyrocketing.

The representative of Mindray said that the orders soared in March from 100 countries around the world with a demand for medical equipment to cope with the epidemic, Italy alone has ordered 10,000 ventilators. The company is capable of producing 2,200 ventilators per week, accounting for about 20% of worldwide capacity.

Moderna and BioNTech, the two developers of the Covid-19 vaccine, have also seen stocks more than triple this year. Analysts on Wall Street predict that these two companies will make $ 32 billion in revenue from the Covid-19 vaccine in 2021. That is not to mention the empowering effect that comes from these pharmaceutical companies help open a potential outlet for the world from the worst pandemic in a century.
According to a recent Forbes report, the number of billionaires increased by 660 people to 2,755 billionaires, an increase of about 30% compared to last year. Of these, 493 people are included in the list of the world's billionaires for the first time. More than 40 people got rich through their participation in the war against Covid-19. Li Jianquan becomes rich by producing billions of masks and millions of protective gear for medical workers in the fight against the pandemic.

Breakthrough in the epidemic

In Vietnam, the impact of the epidemic can be also an opportunity for businesses to renew themselves, find new directions following market demands to survive and grow more substantial because risks are always along with the opportunity.
A report of the FPT group shows that digital transformation is a bright spot in revenue structure when this segment contributes 3,219 billion dongs, up 31% year over year acknowledgements to strong growth in digital conversion investment global range. For the technology segment in general, the newly signed revenue in 2020 reached 13,905 billion VND, an increase of 23% compared to 2019. The number of customers increased by nearly 19% while the number of projects with the scale of millions of USD increased nearly 29% compared with the last year.
Faced with the drop in exports due to disease, May 10 has transformed products and markets. Instead of high-end goods, they have turned to protective goods, traditional goods; redirecting inland to save exports to maintain business goals. In 2021, the company has set a target of 20-30% domestic market growth compared to 2020 as a new strategic direction.
Ms Nguyen Thi Bao Hien - Chairman and General Director of Hien Le Group specializing in agricultural business, said that after the epidemic, in 2021, the enterprise was researching to build a factory with a capacity of 7 times the current factory. "Hopefully by the end of 2022, we will have a new factory and new products."
In 2020, before the widespread epidemic of Covid-19, judging that the demand for gloves in the market has increased sharply, Merufa JSC decided to invest in a glove manufacturing workshop No. 2 with a total investment of VND 230 billion. The investment time is about 8-12 months to speed up the progress, it is expected to be completed in 3-4 months so that products can be available in the market when the price is high.
The financial statements of 2020 recorded net revenue of nearly 198 billion dongs, up 83% compared to 2019. Profit after tax was 13 billion dongs, up 95% compared to 2019. EPS was 3,260 dong.
In particular, VRG Khai Hoan JSC, the largest guru glove company, said that from the beginning of 2020, the number of orders increased so that the factory ran at 100% of design capacity. Profit after tax for the whole year 2020 will reach VND 440 billion, 40 times more than the previous year. Currently, VRG Khai Hoan has received enough gloves orders for 2021, even the output for 2022 has been ordered by partners.

The nudge of transformation

The Covid-19 pandemic created difficulties and challenges but also opened up considerable opportunities. This is the time when the business community becomes more aware of its resilience requirements and sustainable development orientation.
Accordingly, to overcome the immediate and future challenges, enterprises that are forced to be sensitive will change the state from "freezing" to immediately seizing new development opportunities. Some companies had not released a new product half a year ago, but when the Covid-19 epidemic broke out, they quickly introduced products to meet the market demand and actively supported the fight against epidemics.
This time is also an opportunity for Vietnamese enterprises to transform digitally, to innovate in new business models to improve the quality of products and services, take advantage of opportunities to dominate the market. This also creates a foundation for businesses to be ready to respond to other changes in the future, ensuring more sustainable and long-term development.
According to the HSBC Navigator survey published in early December 2020, 68% of Vietnamese enterprises said that they had made changes to cope with the epidemic. Enterprises said that they will continue to invest in technology to improve the speed of market access, access to new customers and enhance automation and efficiency of operations.
Overcoming difficulties and challenges, Vietnam's reputation and position are highly appreciated by the international community. At the same time, participation in international trade agreements is a "golden" opportunity for businesses to be ready to receive capital flows transferred to Vietnam.

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