Many Vietnamese businesses and entrepreneurs have grown up quietly.

Many Vietnamese businesses and entrepreneurs have quietly grown up, become leaders, and led the way.

Many Vietnamese enterprises have grown quietly, but to link business opportunities with major projects, works, and goals of the country, the State's supporting and promoting role in the market economy is needed.

Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management (CIEM), has high hopes for the development opportunities of Vietnamese private enterprises.

"A mechanism is needed for businesses to participate with the Government in implementing major projects and key national works. That is the way for businesses to grow and become autonomous," he shared on the occasion of Vietnam Entrepreneurs Day 2024.

Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management (CIEM)

Sir, in just the past half month, the Government Standing Committee and the Prime Minister have continuously had meetings with large Vietnamese enterprises to discuss whether enterprises can participate in implementing high-speed railway projects and large projects. What do you think, can Vietnamese private enterprises participate?

If Vietnamese private enterprises are absent from projects worth tens of billions of dollars, it is really not okay. The world is probably the same, it is an opportunity for development, an opportunity to learn and grow for businesses, Vietnamese businesses cannot be left out.

The issue that needs to be discussed is how to do it, the mechanism of public-private partnership as well as the real opportunities for businesses. Because the development of businesses cannot be without the role of the state - the role of supporting, promoting and supporting the market.

In particular, the weakness of Vietnamese enterprises is technology. To have technology, there must be research and development, large investments, and a long time.

For example, the high-speed railway project in one phase will create an industry with an ecosystem related to railways. That is a great opportunity for enterprises in the mechanical, metallurgical, and transport infrastructure construction sectors to grow... Because of the opportunity to participate, enterprises will invest in technology, invest more in research and development to develop products, develop markets... The capacity of the enterprises themselves and the whole industry will be improved.

But businesses cannot shoulder all the stages, especially the technology part. The government can be the investor to buy copyrights and technology, and work with businesses to implement. Vietnamese businesses will learn and do, grow step by step and gradually become self-sufficient in all aspects.

For a long time, when talking about Vietnamese enterprises, many studies have shown that Vietnamese enterprises grow slowly, even with difficulty. What prevents enterprises from growing, sir?

What drives businesses to grow, I would like to ask. In my opinion, there are 4 groups of issues.

One is the quality and level of entrepreneurs. It is necessary to create conditions and promote entrepreneurs to study and improve their qualifications, especially their management skills. However, it is not the State that opens schools and teaches, but rather creates opportunities for the business consulting service market. I remember that in the years 2000-2005, the entrepreneurial learning movement was very active. But in recent years, this service has not developed strongly enough.

Second is the ability of enterprises to accumulate. Create maximum conditions for enterprises to accumulate and invest in research and development. There needs to be a mechanism to support and encourage enterprises to invest in research and development, and technology to have competitive products.

Third, reaching out to foreign markets. Vietnam's export-oriented economy is an advantage for businesses. However, it is necessary to support businesses in promoting and bringing Vietnamese products, services, tourism brands... to foreign countries. Trade promotion and tourism promotion activities must be for businesses and support businesses. Currently, our businesses are still quite lonely and isolated when going out to the world market.

Fourth, there must be land at a reasonable cost for production and business. If land prices are too high, it will be difficult for businesses, especially small and medium-sized enterprises, to have land to develop production.

Does that mean there needs to be a policy for businesses to grow?

Recently, I surveyed a number of businesses and saw clearly that in order for businesses to grow, we need to create an environment for businesses to grow, not to choose winners. That means the mindset of support will have to change, not to support anyone, to choose who to support, but to achieve goals and requirements before supporting.

In fact, many Vietnamese businesses have quietly grown up, and can be called leaders. These businesses transform because their customers and partners demand it.

But if the policy mechanism promotes the speed and efficiency of these activities, linking business opportunities with major projects, works and goals of the country, then that is the role of the State in the market economy.

Source: https://baodautu.vn/nhieu-doanh-nghiep-doanh-nhan-viet-nam-da-am-tham-lon-len-thanh-dau-dan-dan-dat-d227344.html