Vietnamese Entrepreneurs in the Era of National Growth

Immediately after the founding of the country, on October 13, 1945, President Ho Chi Minh sent a letter to the Vietnamese industrial and commercial community. He wrote: “Currently, the “Industrial and Commercial Rescue Group” is operating to do many things that benefit the country and the people. I very much welcome and expect many good results. While other groups in the nation are working hard to gain complete independence for the country, the Industrial and Commercial community must work to build a stable and prosperous economy and finance…”.

Inheriting and promoting his ideology, 20 years ago, October 13th was chosen as Vietnam Entrepreneurs Day (according to Decision No. 990/QD-TTg dated September 20, 2004 of the Prime Minister), with the main meaning of encouraging and honoring the role of entrepreneurs who have contributed many achievements to the Fatherland and the people.

Every year, when October 13th – Vietnam Entrepreneurs Day comes around, we have a special feeling. It is an opportunity for us to express our gratitude and honor outstanding businesses and entrepreneurs who have made great contributions to the country's socio-economic development.

In nearly 40 years of implementing the renovation policy, with the correct policies and guidelines of the Party and the State, the Vietnamese business community has developed strongly in both quantity and quality, in terms of capital, revenue, profit, and labor efficiency; demonstrating its 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.

President Ho Chi Minh met with Hanoi's industrial and commercial circles at the Bac Bo Palace in 1945. Photo: VNA

Currently, we have more than 930 thousand operating enterprises, about 14.4 thousand cooperatives and more than 5 million business households; investing in production and business development in almost all localities and fields; operating not only domestically but many enterprises have developed, made a splash, affirmed brand value reaching out to the region and the world; contributing to enhancing the position and prestige of Vietnam in the international arena. At the same time, a force of entrepreneurs has emerged, especially young, dynamic entrepreneurs who dare to think, dare to do, dare to face difficulties, successfully start new business models, associated with innovation. The team of entrepreneurs and the business community not only perform the task of economic development but also increasingly affirm their important role and contribution to the cause of building and defending the Fatherland.

Our Party and State always have a strategy to build and develop the Vietnamese business community in the cause of building and defending the Fatherland. The 2013 Constitution affirmed: “The State encourages and creates favorable conditions for businessmen, enterprises and other individuals and organizations to invest, produce and do business; sustainably develop economic sectors, contributing to national construction”.

The 13th National Party Congress set out the goals and aspirations for the country to develop by 2025 into a developing country with modern industry, surpassing the low-middle income level; by 2030, a developing country with modern industry and high-middle income. The 13th National Party Congress also set out the task: "Developing a large and strong team of entrepreneurs in terms of quantity and quality, with a spirit of dedication to the nation, with progressive cultural and ethical standards and good management and business skills...".

On October 10, 2023, the Politburo signed and issued Resolution No. 41-NQ/TW on building and promoting the role of Vietnamese entrepreneurs in the new era. The Government issued Resolution No. 66/NQ-CP dated May 9, 2024 to realize the goal of developing a strong entrepreneurial team in terms of quantity, quality, reasonable structure, vision, intelligence, ethics, entrepreneurial spirit, legitimate enrichment, dynamism, creativity, advanced management capacity, law compliance, ethics, business culture with national identity; social responsibility, environmental awareness, making worthy contributions to the country's development goals.

Ho Chi Minh City awarded Certificates of Merit to outstanding entrepreneurs and businesses in 2024 on the afternoon of October 11, 2024. Photo: VNA

With the policy of industrialization and modernization; economic development as the central task; building an independent, self-reliant economy associated with proactive, active international integration, comprehensively, substantially and effectively, we affirm that President Ho Chi Minh's thoughts on encouraging development, promoting the role and responsibility of Vietnamese entrepreneurs for the prosperity of the country still retain profound value and hot topicality, especially in the era of our nation's rise.

The Party and the State always respectfully welcome and welcome Vietnamese entrepreneurs - those who are talented, dedicated, and have a deep and correct awareness of their key responsibilities and pioneering roles in contributing to promoting socio-economic development and enhancing the country's potential, prestige and international position. This is a source of inspiration, encouragement and motivation for the Vietnamese business community and entrepreneurs to continue to firmly believe in their noble role and mission in the cause of national construction and development in the new era.

High-rise buildings and urban areas on Hanoi's Ring Road 3. Photo: DUY LINH

A corner of Ho Chi Minh City. Photo: VNA

Facing a new historical starting point, Vietnam advocates effectively taking advantage of the opportunities brought about by the Fourth Industrial Revolution to promote the process of growth model innovation, economic restructuring associated with implementing strategic breakthroughs and national modernization. In order to take advantage of opportunities and keep up with new trends, we must prepare ourselves to be ready to enter a new era, which is the Era of the Vietnamese people's rise.

The new context sets new requirements for the country's development orientation. We must not only strive to achieve growth targets but also green and sustainable growth. Not only develop traditional business sectors, but also focus on attracting investment and creating breakthroughs for pioneering industries. Growth must not only rely on capital and resource exploitation as before, but must rely on science, technology and innovation. Not only promote and renew traditional growth drivers, but also promote new growth drivers from the green economy, circular economy and digital economy.

In that context, the team of businesses and entrepreneurs needs to: Pioneer in promoting the "3 strategic breakthroughs" (institutions, infrastructure and human resources); pioneer in developing science and technology, applying achievements of the Fourth Industrial Revolution, innovating, renewing traditional growth drivers (investment, export, consumption) and promoting new growth drivers (digital economy, green economy, circular economy, sharing economy, knowledge economy, night economy, etc.); pioneer in contributing to stabilizing the macro economy, controlling inflation, prioritizing growth promotion, ensuring major balances of the economy; pioneer in building modern corporate governance; pioneer in consolidating and strengthening the strength of national solidarity, doing well in social security work, not sacrificing progress, fairness, social security to pursue pure economic growth, leaving no one behind, contributing to rapid, sustainable, inclusive and comprehensive development.

Prime Minister Pham Minh Chinh and leaders of the State Capital Management Committee at Enterprises visited and inspected the operations of the Ninh Binh Nitrogenous Fertilizer Plant in August 2022 to discuss solutions to remove difficulties and obstacles at the plant. Photo: State Capital Management Committee at Enterprises

In order to promptly remove difficulties for production and business activities, in recent times, the Government and the Prime Minister have implemented many tasks and solutions to stimulate consumption, support production, business and market development; strongly promote activities to build and perfect policies and laws, especially major policies that directly impact the business environment... Thanks to that, the business environment has continuously improved; business support has had many positive changes, access to information and policies has been more favorable, administrative reform and digital transformation have been effective, including promoting the reception and settlement of online administrative procedures, contributing to significantly reducing time and costs for businesses.

With the spirit of “harmonized benefits, shared risks”, harmonizing the interests between the State, enterprises and people, let us: “Listen, understand”, “share vision and action”, “work together, win together and develop together”, “enjoy joy, happiness and pride together”, the Vietnamese business community and enterprises always demonstrate their pioneering role in the cause of socio-economic development, for the benefit of the nation and people, for the strength and prosperity of the country, for the happiness and prosperity of the people.

On September 21, 2024, Prime Minister Pham Minh Chinh chaired a meeting of the Government Standing Committee working with large enterprises on solutions to contribute to the country's socio-economic development. Photo: VNA

Our country has never had such a foundation, potential, position and international prestige as today, including the contributions of entrepreneurs and enterprises. With the spirit of creation, the Government and the Prime Minister have always accompanied enterprises to create an open, favorable and equal business environment for enterprises and entrepreneurs, especially building a socialist-oriented market economy institution, fair and healthy competition among economic sectors; developing synchronous, modern and comprehensive strategic infrastructure to contribute to reducing logistics costs, reducing input costs, improving the competitiveness of products, enterprises and the economy, creating new development space, new industrial parks, urban areas, services, increasing land value; training high-quality human resources for the country in general and enterprises in particular; perfecting a modern corporate governance model, mobilizing all resources for development; Protect the legitimate rights and interests of businesses and entrepreneurs, and do not criminalize economic and civil relations; focusing on the following issues:

In addition, on the part of business associations: It is necessary to proactively research and assess challenges and opportunities of the industry and field; promptly share, guide, and provide consulting support to member businesses; promote business linkages, support business investment connections, help businesses overcome difficulties, proactively seize new opportunities and new trends.

In particular, for the business community: It is necessary to continue to work with the Government to implement solutions that contribute to promoting socio-economic development, especially breakthrough, innovative and creative solutions. Large enterprises need to set an example, take the lead in big, difficult and new tasks, and solve national-level problems to create momentum for economic development and create room for development for small and medium-sized enterprises in all fields.

Entrepreneurs and enterprises need to proactively innovate business thinking, improve management capacity, productivity, quality, and competitiveness; increase innovation, research, development, and application of advanced science and technology. Continue to promote national spirit, unite strength to build Vietnamese brands in the international market; promote the spirit of cooperation and connection between Vietnamese enterprises towards common values and benefits from many sides; enhance responsibility to the community, society, the nation, and the people.

The success of entrepreneurs and businesses is also the success of the country. The team of entrepreneurs needs to continue to join hands, unite, and strive to compete towards 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 by the 13th National Party Congress. Each entrepreneur should demonstrate the spirit of solidarity, self-reliance, self-confidence, self-reliance, national pride, and the desire to rise up through concrete actions, together bringing the country into a new stage of development, catching up with trends, and preparing a mindset ready to enter a new era, which is the Era of the Vietnamese people's rise.