Enterprises must strive for at least double-digit growth.

Concluding the meeting of the Government Standing Committee with enterprises on the morning of February 10, Prime Minister Pham Minh Chinh said that 2025 is of special importance, a year of breakthrough to the finish line to successfully implement the 5-year socio-economic development plan 2021-2025, striving for GDP growth of at least 8%, creating momentum, creating force, creating momentum for double-digit growth in the following years.

According to the head of the Government, this is also the year of many important events for the country - the 95th anniversary of the Party's founding, the 50th anniversary of national reunification, the 135th anniversary of President Ho Chi Minh's birthday, the 80th anniversary of the country's founding; the year of holding Party Congresses at all levels, towards the 14th National Party Congress, opening an era of national development, prosperity, civilization and prosperity.

Also in 2025, we will carry out a revolution in streamlining and streamlining the apparatus; implement Resolution 57 of the Politburo on breakthroughs in science and technology development, innovation, and digital transformation.

Prime Minister Pham Minh Chinh.jpg
Prime Minister Pham Minh Chinh talks with businesses. Photo: VGP

The Prime Minister requested that enterprises strive for at least double-digit growth, contribute to the implementation of the above major tasks, and contribute to the common goal of realizing the two 100-year goals (by 2030, the 100th anniversary of the Party's founding and by 2045, the 100th anniversary of the country's founding).

The Head of Government expressed his wishes to businesses and entrepreneurs: Pioneer in innovation, digital transformation, development and application of science and technology; contribute more actively and effectively to the three strategic breakthroughs in institutions, infrastructure and human resources; accelerate and make breakthroughs in growth; be inclusive, comprehensive and sustainable in national development.

In addition, enterprises need to promote the construction and development of digital economy, green economy, circular economy, sharing economy, knowledge economy, creative economy; actively participate in ensuring social security, especially eliminating temporary and dilapidated houses and building social housing for workers; more and more large ethnic enterprises participate in global value chains, supply chains, and production chains, contributing to enhancing the national brand.

With ministries and branches, the Prime Minister proposed to exchange and discuss with enterprises, both sides have commitments to deploy specific work, participate in implementing major tasks and projects of the country.

For example, in the construction of high-speed railways, the Ministry of Transport has made commitments to Hoa Phat on the rails, to Thaco on the train cars, to Deo Ca and Xuan Truong on tunneling and road construction, etc.

The Prime Minister emphasized: "This must be based on the harmonious interests and shared risks between the State, enterprises and people, without negativity or corruption."

The Prime Minister also asked businesses and entrepreneurs to do business in accordance with the law, participate in preventing corruption and negativity, and build a business culture with national identity.

The Prime Minister reiterated the message: “The Government, ministries, and localities do not say no, do not say difficult, do not say yes but do not do. Together we build the country in a new era, an era of development, prosperity, wealth, civilization, prosperity, and the people are increasingly well-off and happy. The country has aspirations, the people want and wait, the State must create, businesses must contribute, the country must develop”.

Private enterprises are ready

Previously, in his opening speech, Prime Minister Pham Minh Chinh suggested that in major national matters, businesses should register and propose policies and mechanisms to do what they can, as long as they are not self-serving, corrupt, or negative.

Enterprises immediately responded with many specific proposals. Chairman of the Board of Directors of Truong Hai Group Corporation (Thaco) Tran Ba ​​Duong said that he will focus on participating in urban railway construction, especially train cars and steel components.

Mr. Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group Joint Stock Company, said that it is possible to invest in a rail manufacturing factory with a capital of 10,000 billion VND. He said that this is a very special product, if it is not used for the project, it is not known who to sell it to. Therefore, the Chairman really hopes to have a document like a resolution so that businesses can feel secure in investing and manufacturing products for the project.

Meanwhile, Mr. Ho Minh Hoang, Chairman of Deo Ca Group, shared that enterprises need the connection of the Government when working together, and need to be specific in placing orders for private enterprises to participate in key strategic projects such as high-speed railways, metro...

Mr. Nguyen Xuan Truong (Xuan Truong Group) said that it is necessary to discuss policies and mechanisms, allowing enterprises to make their own decisions and take responsibility.

“With high-speed railways and roads, we must have an idea first. There must be a document so that businesses can feel secure in investing, and then banks will lend money. For example, with steel, for businesses to invest 10,000 billion VND, in addition to their own capital, they must borrow from banks. Our business invests in culture, so we don’t have to borrow money and don’t depend on banks. The most important thing now is to have a mechanism,” Mr. Truong analyzed.

In response to the proposals, Prime Minister Pham Minh Chinh assigned the Government Office to synthesize and ministries and localities to promptly handle them with the spirit of 5 clarifications: clear people, clear work, clear time, clear responsibility, and clear results.

Private economy needs to grow 11%/year for GDP to reach double digits

At the conference, Minister of Planning and Investment Nguyen Chi Dung emphasized that after nearly 40 years of innovation, enterprises have grown strongly in both quantity and quality. There are more than 940,000 active enterprises, more than 30,000 cooperatives and over 5 million business households.

In 2024 alone, there will be over 233,000 newly established and re-established enterprises, the highest number ever. In particular, a number of enterprises have developed to reach regional and world levels; proactively participated and affirmed their position and role in global supply chains, contributing to enhancing Vietnam's position and prestige in the international arena.

“To achieve double-digit growth, the non-state economic sector needs to increase by about 11% per year,” said Minister Nguyen Chi Dung. He suggested that the business community in general and the private sector in particular need to further promote their mission in the country’s socio-economic development.

Thaco will build urban railways, Hoa Phat will invest in a 10,000 billion VND rail factory. The leader of Thaco Truong Hai Group said that it will focus on participating in building urban railways, especially train cars and steel components, while the leader of Hoa Phat Group said that it could invest in a rail factory, about 10,000 billion VND.