The Government Standing Committee meets with businesses at the beginning of the year and the story of growth momentum

The 20 enterprises present at the Government Standing Committee's spring meeting with enterprises held this morning (February 10, 2025) are all large private enterprises.

The Government Standing Committee meets with businesses at the beginning of the year and the story of growth momentum

The 20 enterprises present at the Government Standing Committee's spring meeting with enterprises held this morning (February 10, 2025) are all large private enterprises.

The Government Standing Committee's spring meeting with businesses took place this morning (February 10, 2025)

They are Vingroup Corporation, Sun Group Corporation, Thaco Group, Hoa Phat Group, Minh Phu Seafood Corporation, Masan Group, T&T Group, TH Group, Sovico Group, FPT Group, CMC Technology Group, Geleximco Group, Son Hai Group, Xuan Truong Group, BRG Group, Thanh Thanh Cong Group, Deo Ca Group, Hyundai Thanh Cong, REE Refrigeration and Electrical Engineering, KN Holdings.

It can be said that, with the brand value, scale and ecosystem that these enterprises are leading, they are typical representatives of more than 900,000 private enterprises, about 14,400 cooperatives and more than 5 million business households - a sector that is contributing over 60% of the country's GDP. This also means that the economic growth target of 8% and higher this year and double digits in the coming period of the Vietnamese economy is in dire need of the dynamism of the private economic sector.

The problem is that this dynamism will not be enough to create breakthrough growth numbers if we only rely on market opportunities and the ever-strong need for innovation and development of the business community.

To be frank, although the economic growth rate in 2024 exceeded many forecasts and reached a significant number, experts believe that the room from the private economic sector is still very large and has not been exploited. Investment in this sector only achieved a growth rate of about 7%, less than half of the previous period. Investment and business opportunities have not been truly opened up, thousands of large-scale investment projects are still unfinished, waiting to be unstuck, many business conditions, mechanisms and policies are no longer suitable, and have been proposed many times but have not been completely resolved. In the first month of 2025, the number of enterprises temporarily suspending business continued to increase...

Meanwhile, the two driving forces for high growth in 2024, exports and industrial production, are both on a downward trend, or unlikely to grow at a high rate due to continued complex geopolitical fluctuations around the world.

Analysts believe that to achieve the GDP growth target of 8% or higher this year, the growth momentum will come from within the economy, from institutional reform efforts to remove bottlenecks, improve the investment and business environment, etc., helping private enterprises accelerate, break through, and contribute to the country's rapid and sustainable development in the new era - as the theme of the Conference.

Perhaps we should also mention the exciting and vibrant atmosphere in the meeting between the Government Standing Committee and a number of large enterprises more than 4 months ago. Many enterprises whose names were on the list of the conference today were present at that meeting, directly receiving the Prime Minister's request to pioneer in big, difficult and new tasks, solving problems at the national level to create momentum for economic development, creating development space for small and medium enterprises in various fields. Many specific opinions and recommendations, as well as wishes and aspirations for development, were shared by the enterprises.

Although each enterprise operates in different industries and fields, and has different concerns about investment and business opportunities, there is one common point in the opinions of large enterprises. That is to suggest trust in Vietnamese enterprises, create favorable conditions in terms of mechanisms and policies for Vietnamese enterprises to grow, form private economic groups, and be able to participate in large projects and constructions of the country.

This time too, but businesses are still waiting for specific solutions.

These are solutions to promote investment in transport infrastructure, energy, green economic infrastructure, digital economy, digital transformation, development of supporting industries, application of science and technology. These are solutions to promote investment and production, business of enterprises, promote import and export activities, improve the competitiveness of enterprises, products and services. These are also solutions and policies to create and diversify markets, stimulate domestic consumption... In particular, enterprises are waiting to receive large projects, contributing to promoting socio-economic development that the Government has proposed to participate in investing.

More than ever, private enterprises need mechanisms to truly be the main driving force for growth.

Source: https://baodautu.vn/thuong-truc-chinh-phu-gap-mat-doanh-nghiep-dau-nam-va-cau-chuyen-dong-luc-tang-truong-d244919.html