Corporations and private enterprises promote patriotic traditions, creating breakthrough, rapid and sustainable development.

Also attending were Deputy Prime Ministers Tran Hong Ha, Le Thanh Long and Ho Duc Phoc; representatives of central ministries and branches; and leaders of 12 large corporations and private enterprises.

In his opening remarks at the conference, Prime Minister Pham Minh Chinh stated that since the beginning of his tenure, the Government has held many meetings with domestic and foreign enterprises. Since the Covid-19 pandemic, the Government has held a number of separate meetings with enterprises, however, this is the first time that the meeting has been thematic. In the coming time, the Government will continue to hold thematic meetings with enterprises to discuss in more depth a number of important topics.

The Prime Minister emphasized that this Conference demonstrates the attention of the Party and State leaders to private enterprises in the spirit that the private economy is identified as an important driving force for the country's socio-economic development. Since the 12th National Party Congress, Resolution 10 of the 12th Central Committee has identified this content; the 13th National Party Congress also continued to identify that this term continues to affirm that the private economy is identified as an important driving force for our country's economy.

Prime Minister Pham Minh Chinh with leaders of corporations and private enterprises. (Photo: TRAN HAI)

The private economy contributes more than 45% of GDP, 40% of total social investment capital; creates jobs for 85% of the total workforce; accounts for 35% of import turnover and 25% of export turnover. We are proud to have large private corporations that have affirmed their position and reached out to the world. During the Covid-19 pandemic, businesses at the conference made many positive and effective contributions to help the whole nation overcome the pandemic. The Government has repeatedly thanked business leaders in general, especially large businesses, who participated in the fight against the Covid-19 pandemic and quickly brought the country back to normal. This effort is the work of the entire people, the leadership of the Party, the management of the State, including the contributions of businesses.

The Prime Minister shared: Since the beginning of his term, the country has faced countless difficulties: strategic competition, conflicts in some places, broken supply chains, production chains affecting the entire world economy, including our country. In that context, Vietnamese enterprises, including private enterprises, have demonstrated their role in participating in restoring and developing the country's economy. Enterprises and entrepreneurs have strived, contributed, overcome the consequences, bringing the Vietnamese economy to 34th place in the world according to the World Bank (WB) rankings.

Prime Minister Pham Minh Chinh speaks at the conference. (Photo: TRAN HAI)

The Prime Minister expressed his appreciation for the contributions of businesses participating in overcoming the consequences of natural disasters, especially storm No. 3 (Yagi), and other natural disasters for the country with the spirit of "mutual love and mutual assistance", "national love and compatriotism" clearly demonstrated.

The Prime Minister expressed his hope that, for businesses, especially those that have been successful, we are entering a period of national transformation, summarizing 40 years of Doi Moi, as the late General Secretary Nguyen Phu Trong once said: Our country has never had such a foundation, potential, position and international prestige as today. This is also thanks to the efforts of the whole society and the whole people, including the important contributions of the team of businesses and entrepreneurs. Vietnam's position today is different; however, we still have many difficulties, the scale of the economy is still modest, and the average income per capita is not high. Therefore, the Prime Minister hopes that businesses will continue to promote the spirit of patriotism, love for the people, promote the heroic historical and cultural traditions of the nation, which are cultural heritage, the fulcrum of the country, that is "national love, compatriots' love", "mutual love", so that we can continue to develop in the spirit of listening and understanding; share vision, awareness and action; work together, enjoy together, win together and develop together.

Prime Minister Pham Minh Chinh emphasized the spirit of great national unity, which is also a heritage of the country; always solidarity within the Party, solidarity among the people, and international solidarity. The Prime Minister expressed, “resources originate from thinking, motivation originates from innovation, strength originates from the people and businesses; people make history. Therefore, businesses and entrepreneurs need to promote their historical role, contribute to the country, create breakthroughs in the current period, especially when the country has just gone through difficult periods such as the Covid-19 pandemic, and then storm No. 3 which has just caused serious consequences.

The Prime Minister hopes that businesses will promote self-reliance and self-reliance to overcome difficulties together; we must have breakthroughs from now until the end of this term with only more than 1 year left; entering a new era in 2030, the country will celebrate 100 years of Communist Party leadership: the country must have large projects, symbols of the country to celebrate this great event.

The 10th Central Conference has just agreed to study investment in developing high-speed railways, restart research on nuclear energy; complete the north-south and east-west expressway systems connecting airports and ports, creating new momentum and reducing logistics costs; do well in social security issues such as eliminating temporary and dilapidated houses; strive to complete this by 2025, the 80th anniversary of the founding of the country; by 2030, the 100th anniversary of the founding of the Party, we strive to have no more poor households.

Leaders of large corporations and private enterprises attended the conference. (Photo: TRAN HAI)

The Prime Minister summarized the spirit of the 10th Central Conference of the 13th Central Executive Committee which just ended successfully with many breakthroughs: making breakthrough developments, including the biggest breakthrough in institutions - the resource and driving force for development; having symbolic works, motivating, leading and inspiring the whole nation; we need to do better in social security work; adapting to nature, following nature in development; having programs and projects, focusing on building plans to rearrange the population in landslide areas; fighting drought, saltwater intrusion, subsidence, and landslides in the Mekong Delta; using science and technology, innovation to develop the country; renewing traditional growth drivers, promoting new growth drivers.

The Prime Minister emphasized that private enterprises need to promote this momentum to develop the country; continue to be pioneers in innovation, pioneers in strategic breakthroughs, especially in building and perfecting the legal system, especially the socialist-oriented market economic institution. We need to sympathize and share in the coming time; discuss, listen and agree on issues so that the country can develop quickly and sustainably.

Minister of Planning and Investment Nguyen Chi Dung speaks at the conference. (Photo: TRAN HAI)

According to the Ministry of Planning and Investment, enterprises and entrepreneurs always play a key role, are the main material production force of the economy, and play a very important role in the cause of national construction and development. In nearly 40 years of implementing the renovation policy, with the correct policies and guidelines of the Party and the State, Vietnam now has more than 930 thousand enterprises in operation, of which 98% are small and medium enterprises; about 14.4 thousand cooperatives and more than 5 million business households. Along with the strong growth in quantity, Vietnamese enterprises have continuously developed and expanded their scale in terms of capital, revenue, profit, and labor efficiency; demonstrating their role as the main force in managing and organizing production resources, creating products, goods, and services for society, promoting the growth and socio-economic development of the country.

In 2023, the private economic sector will contribute about 46% of GDP, generate about 30% of state budget revenue, attract about 85% of the workforce; the corporate income tax contribution rate accounts for about 34%. In particular, a large private enterprise force has emerged, accumulating sufficient capacity in terms of capital scale, technology level and corporate governance, with brands reaching out to regional and world markets, becoming important driving forces of the economy such as: Vingroup, Thaco, Hoa Phat, TH,... Many enterprises have risen to master technology, take the lead in innovation, have brands, create an ecosystem for enterprises to develop together, pioneer in green transformation, digital transformation, participate in solving major challenges and problems of the country, contributing to building an independent and self-reliant economy.

Representatives of leaders of central ministries and branches attended the Conference (Photo: Tran Hai).

International experience shows that not only in developed countries but also in low- and middle-income countries, the group of large enterprises plays an important role, contributing greatly to the development of the economy in terms of growth, employment, exports, taxes or creating added value. According to the World Bank's estimates, 80% of global profits are generated by the 10% largest enterprises, large enterprises on average contribute up to 1/3 of export turnover, half of the country's export growth rate. The miraculous development of Korea is associated with the country's major brands such as Samsung, Hyundai or SK. The Honda and Toyota brands are associated with the growth of Japan.

After nearly 40 years of implementing the Doi Moi process, Vietnam has risen from a backward economy to become one of the Top 40 leading economies, with a trade scale in the Top 20 countries in the world, an important link in 16 free trade agreements connecting with 60 key economies in the region and the world. The size of the economy increased from 26.3 billion USD in the early years of Doi Moi to more than 430 billion USD in 2023. Vietnam is considered by the United Nations and international friends as a success story, a bright spot in hunger eradication and poverty reduction, constantly improving the material and spiritual life of the people.

However, the world is witnessing many major changes, the emergence of new industries, changes in policies of major economies leading to shifts in investment flows, adjustments in the structure of trade and investment. This poses risks and challenges but at the same time brings new opportunities and fortunes to countries.

The new context is also posing new requirements for the country's economic development. That is, not only striving to achieve growth targets but also green, sustainable growth, the goal of achieving net zero by 2050. Not only developing traditional business sectors, but also focusing on attracting investment and creating breakthroughs for pioneering industries such as semiconductors, AI, green hydrogen. Not only growth based on capital, on resource exploitation as before, but also on science-technology, innovation. Not only promoting and renewing traditional growth drivers such as investment, consumption, export, but also promoting new growth drivers, coming from the circular economy, digital economy and even new economic models...

At this conference, the Government Standing Committee wants to listen to businesses share about their operations, difficulties and obstacles, propose solutions, share thoughts and visions, and work with large pioneering enterprises to identify and jointly implement national projects, find solutions to the country's major problems in order to achieve the goal of turning our country into a developing country with modern industry and high average income by 2030 and a developed country with high income by 2045 as set out at the 13th National Party Congress.

The Ministry of Planning and Investment also said that the socio-economic situation of our country in the first 8 months continued to achieve many positive and important results: the macro economy was basically stable, inflation was controlled, major balances were ensured; deficit, public debt, government debt, and foreign debt were within the permitted limits. The consumer price index (CPI) in the first 8 months increased by 4.04% over the same period, within the control level according to the National Assembly's target. The exchange rate was managed proactively, flexibly, promptly, in line with world market developments. The state budget revenue in the first 8 months was estimated at 78.5% of the estimate, up 17.8% over the same period. Import-export turnover, export and import in the first 8 months increased by 16.7%, 15.8% and 17.7% respectively over the same period; the trade surplus was estimated at 19.1 billion USD; major balances were ensured.

Growth drivers from the supply side continued to change positively. Agricultural production and services maintained a fairly good growth momentum. Industrial production recovered quickly, becoming an important driving force for the overall growth of the economy; the Industrial Production Index (IIP) in August increased by 9.5% over the same period, and by 8.6% in 8 months, of which the processing and manufacturing industry increased by 9.7%. The Purchasing Managers' Index (PMI) in August reached 52.4 points, the fifth consecutive month above 50 points, showing a clear recovery in industrial production.

In August, about 21.9 thousand enterprises entered and re-entered the market, with a total of about 168.1 thousand enterprises in the first 8 months, higher than the number of enterprises withdrawing from the market (135.3 thousand enterprises). Growth drivers from the demand side recovered more positively. FDI attraction continued to be a bright spot, with total registered FDI capital in the first 8 months reaching about 20.5 billion USD, up 7% over the same period, of which newly registered FDI was nearly 12 billion USD, up 27%; realized FDI capital was about 14.15 billion USD, up 8%. The work of perfecting institutions and laws was directed decisively, prioritizing both time and resources, with the spirit of reform, innovation, breakthrough in thinking, thinking, working methods and promoting decentralization and delegation of power.

The Government has submitted to the National Assembly permission for the Land Law, Housing Law, and Real Estate Business Law to take effect early from August 1, 2024, and has issued and directed the issuance of 121 documents detailing and guiding their implementation. The Prime Minister has established a Steering Committee to review the legal system's problems and study and submit them to the National Assembly at the 8th Session to immediately remove the problems and bottlenecks at the legal level.

In 8 months, nearly 90 trillion VND in taxes, fees, charges, and land rents have been exempted, reduced, and extended, with an estimated total of 187 trillion VND for the whole year. The 120 trillion VND package for social housing loans continues to be urged and disbursed; the scale of the 30 trillion VND package for forestry and fishery loans is being studied for expansion.

The Government and the Prime Minister continue to direct ministries, branches and localities to resolutely remove difficulties and obstacles, ensuring the progress of key projects. To date, more than 2,021km of expressways have been put into operation, opening up many new development spaces. The 500kV Line 3 project, with a scale of nearly 1 billion USD, was inaugurated after more than 6 months of construction, becoming a typical model, creating motivation and inspiration in the implementation of important national works and projects with new ways of doing things, new thinking, new management, mobilizing combined strength.

Production and business activities in the first 8 months of the year maintained recovery momentum. A number of large corporations and enterprises have proactively transformed and invested heavily in new industries such as artificial intelligence (AI), semiconductor chips, and hydrogen; pioneered in innovating business models towards a green, circular economy, actively contributing to the realization of sustainable development goals and the Government's Net Zero commitment by 2050.

Private enterprises have gradually developed into a leading and spreading force, leading to the development of many important industries and fields, contributing to ensuring the macro-economy, ensuring the major balances of the economy with high intellectual content and innovation capacity. Thousands of small and medium enterprises and household enterprises have benefited from business linkages with these leading enterprises.

Large-scale enterprises have transformed in applying technology and modern management models. Investment activities of this group of enterprises have supported additional resources, reduced investment from the state budget; contributed to accelerating the process of restructuring the economy associated with innovation of the growth model.

At the Conference, corporations and private enterprises proposed many solutions to the Government, the Prime Minister, ministries and branches to remove difficulties and obstacles, especially proposing mechanisms and policies to create favorable conditions for enterprises to develop strongly and make worthy contributions to the development of the country. Representatives of leaders of some ministries and branches immediately responded to the proposals of corporations and enterprises.

Concluding the conference, Prime Minister Pham Minh Chinh expressed his sympathy with businesses for the recent difficulties the country has faced; thanked businesses for always accompanying the Party, State and people to help overcome difficulties, build our country more decent, more beautiful, and people have an increasingly prosperous and happy life.

The Prime Minister stated that the Government has great confidence and pride in the growth and development of Vietnamese enterprises; commits to accompanying and protecting the legitimate rights and interests of enterprises; not criminalizing economic relations; studying the abolition of sub-licenses that can easily cause harassment and inconvenience, increasing compliance costs for enterprises; affirming that the Government always listens, shares and joins hands to remove difficulties and obstacles, overcome difficulties and challenges; especially focusing on building and perfecting institutions so that enterprises can confidently invest, promote production and business.

The Prime Minister requested Deputy Prime Ministers, Ministers, and Heads of sectors to directly listen to and thoroughly resolve difficulties of enterprises; clearly stating that resolving difficulties for enterprises is resolving difficulties for the economy; developing enterprises means developing the country. The Prime Minister requested ministries, sectors, and agencies to actively resolve difficulties for enterprises in the spirit of "solving where problems arise", not pushing, avoiding, causing trouble, or harassment. The Government will continue to decentralize and delegate power to ministries, sectors, and localities; resolutely cut down on cumbersome and unnecessary administrative procedures.

The Prime Minister also requested that businesses comply with the law, contribute to perfecting institutions to strengthen management and promote business development; institutional building must consistently focus on creating a development environment, creating policies for development, especially developing a socialist-oriented market economy and key national projects.

The Prime Minister emphasized the need to always put people and businesses at the center and the main subject in the process of perfecting institutions; requesting businesses to implement "6 pioneers": Pioneer in innovation, application of science and technology focusing on traditional growth drivers, promoting new growth drivers of green economy, circular economy, knowledge economy, combating climate change... Pioneer in participating in global value and supply chains, contributing to building business brands and national brands. Pioneer in creating jobs and livelihoods for people, doing well in social security work. Pioneer in developing infrastructure, especially digital infrastructure, transportation, socio-economics, culture, especially transportation infrastructure including highways, railways, expressways, airports, ports, green infrastructure. Pioneer in contributing to training high-quality human resources, reforming administrative procedures, building smart governance, contributing to improving the investment and business environment. Pioneering in solidarity, unity, mutual support, listening and understanding; sharing vision, awareness and action; working together, enjoying together, winning together and developing businesses and the country.

The Prime Minister requested the Government Office, ministries and branches to listen to and accept the opinions of enterprises, contributing to the resolution in the spirit of "saying is doing, committing is implementing", harmonizing benefits, sharing risks, and harmonizing interests between the State, people and enterprises. The Government also thanked enterprises for proposing to be assigned specific tasks such as participating in the construction of the North-South high-speed railway project, highways, steel mills, ports, airports, social housing, improving children's physical fitness, etc.

The Government will research and assign tasks and place orders for businesses to work together, win together, and enjoy together. Ministries and sectors, when handling work, must have a high spirit of determination, great effort, and drastic action with businesses to resolve difficulties and obstacles; and organize implementation with the spirit of "5 clear": "clear people, clear work, clear time, clear responsibility, clear products". The Prime Minister also noted that ministries and sectors need to organize more specialized conferences of their sectors with businesses related to issues of land, environment, finance, tax, investment, etc.

According to the Ministry of Planning and Investment, Vietnam currently has more than 930,000 operating enterprises, of which 98% are small and medium-sized enterprises; about 14,400 cooperatives and more than 5 million business households. Along with the strong growth in quantity, Vietnamese enterprises have continuously developed and expanded their scale in terms of capital, revenue, profit, and labor efficiency. In 2023, the private economic sector will contribute about 46% of GDP, generate about 30% of state budget revenue, attract about 85% of the workforce; the corporate income tax contribution rate is about 34%. In particular, a large private enterprise force has emerged, accumulating sufficient capacity in terms of capital scale, technology level and corporate governance, with brands reaching out to regional and world markets, becoming an important driving force of the economy.

Source: https://nhandan.vn/cac-tap-doan-doanh-nghiep-tu-nhan-phat-huy-truyen-thong-yeu-nuoc-tao-buoc-phat-trien-dot-pha-nhanh-va-ben-vung-post832265.html