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| VNG is Vietnam's first technology 'unicorn' with a value of over 1 billion USD. (Source: VNG) |
The business sector is facing many "unprecedented" difficulties and challenges along with negative impacts from external factors. In that context, there are still businesses that are able to "weather the storm".
VinFast, VNG, Viettel, ST25 rice... are Vietnamese brands that have affirmed themselves in the world market and have been constantly mentioned recently despite the Covid-19 pandemic.
World class Vietnamese brand
Recently, the event of VinFast officially listing on the world's second largest stock exchange is a source of pride for Vietnamese brands; a source of confidence inspiration for large enterprises in Vietnam to have more motivation and experience to be able to bring Vietnamese brands to international level.
The impact of VinFast immediately spread. And just a few days later, (August 24), VNG Corporation (stock code VNZ) announced that VNG Limited - VNG's major shareholder - had officially submitted a registration application under form F-1 to the US Securities and Exchange Commission (SEC).
Accordingly, VNG Limited is expected to make an initial public offering (IPO) of Class A common shares on the Nasdaq Global Select Market. Although VNG has announced its IPO application on the US stock exchange for quite a while, since 2017, it can be said that the "fire" of listing on foreign stock exchanges is burning brighter than ever.
Not only the story of listing on foreign stock exchanges, many Vietnamese enterprises have left their mark when "overcoming the storm" to bring Vietnamese products and brands further. For example, Loc Troi Group has successfully brought its own branded rice product "Com Viet Nam Rice" to the shelves of French supermarket chains as well as penetrated the demanding European Union (EU) market. Or King Coffee products have also been sold directly to the Costco Wholesale system - the largest wholesale chain in the United States...
We should give maximum support to businesses that dare to face difficulties and are determined to take Vietnamese brands higher and further, because behind such Vietnamese businesses is an entire nation. Who is Vietnamese and does not want their country to have a position comparable to other developed countries in the world?
Domestic enterprises accessing international capital markets or boosting exports will be an objective trend when Vietnam's economic scale in 2022 is in the top 5 of ASEAN. According to the International Monetary Fund (IMF), in 2023, Vietnam's economic scale will be the third in Southeast Asia. Thus, Vietnam is mature enough to participate in the world-class game.
And we believe that, after those "leading cranes", if there are more businesses looking to learn, the Vietnamese economy will soon reach a higher level in the world. Looking more broadly at other businesses, not all companies choose to list or promote exports to the world. That is just an option, but if they can meet the standards for listing, to export closer to the foreign public with transparency and quality, it is very welcome!
In history, we have been proud of our success in defending the Fatherland, now we need to be proud of our success in building and developing the country, proud of the maturity of Vietnamese enterprises. And to show that pride, we need to fully support Vietnamese enterprises with both spirit and concrete actions to accompany them.
More than anywhere else, the Party, State and Government of Vietnam always pay attention and give priority to private enterprises in the country's development and clearly define: "The private economy plays an important role and is one of the driving forces of the economy".
The 13th National Party Congress affirmed that the strong development of the private economic sector in terms of quantity, quality, efficiency, and sustainability "truly becomes an important driving force in economic development. Eliminate all barriers and prejudices, create all favorable conditions for the development of the private economy...
This is a major and consistent policy of the Party to both promote the continued development of the private economy and promote the role of this economic sector in socio-economic development and strengthen national security and defense in the new situation.
Affirming the important role and driving force of the private economic sector in international integration. The private economy has made an important contribution to mobilizing social resources, shifting economic structure, creating jobs, increasing income for workers, especially in the fields of investment, tourism business, urban areas, automobile manufacturing, high-tech agriculture, trade and services. The outstanding efficiency of private economic groups recently clearly demonstrates this.
However, on the path of business development, in some cases, business is only for personal gain, opportunistic and non-transparent, going against the law, against the common interest... then it will also be severely punished by the law and will be eliminated and forgotten!
All for Vietnamese pride
To continue promoting the Vietnamese enterprise brand in particular and the national brand to reach a higher position in the global market, the State needs to continue supporting enterprises and corporations to promote research and development, innovation, and master technology so that "Make in Vietnam" becomes a reality. When Vietnamese goods and products are of high quality, competitive in price, and gain the trust of domestic and international customers, the story of listing on the international capital market is just a matter of whether or not to want it.
Currently in our country, the business community has over 800 thousand enterprises. Along with the Government's policy of innovation towards a market economy, Vietnamese enterprises have gradually built strong brands in manufacturing fields (such as: electronics, automobiles, agricultural products, leather and footwear, textiles, etc.), aiming to create added value for products not only at the domestic level, but also at the global level.
However, we must also admit that the number of domestic enterprises with brands that are known to the world is still small. Bringing Vietnamese brands to the world is difficult, maintaining the brand is even more difficult. It is a process that requires enterprises to constantly innovate, develop, produce quality products, and serve the diverse needs of consumers. Through the brands of many Vietnamese enterprises, the national brand of Vietnam has gradually been upgraded in recent times.
We need to have enterprises that are large enough in scale, have international standard management capacity, apply modern technology, have the ability to compete, dominate the domestic market and reach out to the world. In the current context, we need to identify enterprises that have the courage to become "leading cranes" based on the assessment of the enterprise's internal strength and market principles, avoiding the use of administrative orders or mechanical assembly.
Accordingly, we need to focus on developing leading enterprises in new industries and fields that have leading and spreading impacts such as: providing important inputs for economic sectors, important national infrastructure, modern science and technology, taking the lead in strengthening national defense and security, dual-use industries to protect the Fatherland...
Looking at Japan and South Korea, their large corporations and businesses also had to rise from the ruins of war and initial difficulties in the past before they could succeed in the world as they do today. Their success, in addition to being dynamic, creative, and courageous, is also due in a very important part to the support of the people, the attention and companionship of management agencies, scientific organizations, institutes, schools, and associations.
To have a path, there must be a pioneer. The brands that are taking the first steps, positioning the path for Vietnamese businesses to conquer the world deserve to be respected. We are confident that Vietnamese businesses will firmly step forward and succeed on that path. That path will be very difficult but also very glorious and full of national pride.
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