Vietnamese enterprises and turning points in the new era:

Increase scale, improve quality

Checking the quality of exported steel at Hoa Phat Group's factory . Photo: Thu Ha

Currently, the country has more than 900,000 private enterprises in operation and about 15,000 cooperatives; contributing decisively to the growth of Gross Domestic Product (GDP) and annual import and export. In fact, there have been a number of large-scale economic groups, playing an important role, participating in leading the development of industries and fields and contributing to the construction, formation and promotion of national brands such as VinGroup, FPT, THACO, Hoa Phat, Vinamilk, etc.

Many Vietnamese enterprises have become investors, implementing production and business projects abroad such as Laos, Cambodia, the United States, Russia, the European Union (EU), Africa, etc., and have achieved remarkable results. Notably, after only a few years, Vinfast has exported electric cars and established a firm foothold in some markets that have a more traditional technology than Vietnam, and is preparing to ship the first batch of cars at its production facility in India. This is a fast and long step forward.

Many businesses have been agile, pioneering in mastering new technologies, leading in innovation, green production, digital transformation, having brands and creating ecosystems for small and medium enterprises to develop together... In particular, TH Group has succeeded in bringing the Vietnamese milk brand to the world, surprising the world dairy industry when investing in a clean fresh milk production and processing complex project and a number of other food projects with a capital of 2.7 billion USD in the Russian Federation.

At this time, the Government also encourages and supports private enterprises to participate more in national-scale projects. That is the trust, and at the same time, it suggests a higher mission and aspiration, with a vision and mindset to do big things for enterprises. For example, Prime Minister Pham Minh Chinh has directed and assigned tasks to THACO, Hoa Phat... to be ready to participate in the North-South high-speed railway project worth tens of billions of USD.

However, the picture of Vietnamese enterprises is still "uneven" because most of them are still small to medium-sized, so their capital capacity is very limited (most newly established enterprises have capital under 15 billion VND). Reality also shows some limitations and disadvantages of enterprises such as management level and skills, backward technology, lack of highly qualified human resources, and difficulty in absorbing new scientific and technological achievements. In addition, the number of large-scale enterprises with the capacity to lead domestic supply chains is still small; connectivity and the ability to take advantage of opportunities from international economic integration are still weak, discontinuous, and uneven.

Creating and accompanying businesses

With the spirit of creation and companionship, the Government is strongly implementing institutional reforms and improving the investment and business environment. The State is devoting huge investment resources to infrastructure development, especially the road and seaport systems, to support businesses in reducing logistics costs and time; thereby enhancing competitiveness.

However, according to experts, the decisive factor is still each production and business unit itself in clearly understanding its strategy and purpose to continuously rise and grow. Enterprises need to take shortcuts, take the lead in approaching and applying new and modern technology to improve productivity, product quality and reduce production and operating costs. Statistics show that if applying digital transformation in goods management, business units can reduce costs by 4%, and if they do better, they can reduce costs by up to 8%...

In addition, units should proactively connect and cooperate with each other to develop together, at the same time form an ecosystem, strive to form national enterprises, and build a strong enough team of entrepreneurs to create and position the country's economic position.

In particular, businesses need to proactively accelerate human resource training; make good use of opportunities and support from authorities when implementing training for 100,000 high-quality human resources for the semiconductor and artificial intelligence (AI) industries to enhance their stature in the high-tech market. Businesses also need to improve their knowledge and be ready to participate in markets that have signed free trade agreements with Vietnam...

According to economic expert Nguyen Bich Lam, the business community must know how to commit, dare to face difficulties, dare to endure and rise from failure, and be proactive and flexible in all situations.

In the new situation, Prime Minister Pham Minh Chinh has requested all levels, sectors, enterprises and entrepreneurs to carry out a number of important contents and tasks. These are pioneering in developing science and technology, applying achievements of the Fourth Industrial Revolution, innovation... The above moves aim to successfully carry out the tasks of 2025, creating momentum to realize the double-digit growth target in the following years.

Source: https://hanoimoi.vn/doanh-nghiep-viet-va-buoc-ngoat-trong-ky-nguyen-moi-tan-dung-co-hoi-de-lon-manh-697328.html