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| Deputy Minister of Planning and Investment Tran Duy Dong speaks at the Forum. (Photo: Hong Chau) |
The event is part of the USAID-funded Private Sector Competitiveness Initiative (IPSC) Project, which was launched in January 2022 with the aim of contributing to promoting comprehensive and inclusive economic growth.
The project also aims to promote locally-led and owned solutions to take advantage of the strengths of Vietnam's talent pool, including promoting Made by Vietnam products, services and technologies, and solutions that contribute to improving the business environment in Vietnam.
Speaking at the opening of the Forum, Deputy Minister of Planning and Investment Tran Duy Dong said that the Vietnamese business community with its entrepreneurial spirit, efforts to overcome difficulties and strong aspirations to rise up, has increasingly demonstrated its social responsibility, ethics and business culture. Vietnamese businesspeople and enterprises are growing stronger and gradually affirming their role and position not only domestically but also reaching out to the world market with many products gradually affirming their brand value in the regional and world markets.
Pioneering enterprises are the core force to lead and create changes in many industries and economic sectors of Vietnam in the present and the future. These will be typical enterprises, spreading the pioneering spirit, contributing to changing the face of the country, creating an impression, enhancing the position and reputation of Made by Vietnam products in the international arena. At the same time, the pioneering enterprise force also plays a pivotal role, leading and creating leverage to develop many industries and sectors, thereby making the Vietnamese economy self-reliant, towards sustainable development.
The Deputy Minister said that as an advisory body on socio-economic development strategies, over the past years, the Ministry of Planning and Investment has actively and proactively advised the Government and the Prime Minister to issue mechanisms and policies to promote and support enterprises to improve their competitiveness, strengthen their internal capacity, promote the pioneering spirit of enterprises, encourage enterprises to transform into sustainable business models, contribute to enhancing competitiveness, create a foundation for sustainable development of enterprises, thereby better meeting international standards and participating deeply in global supply chains.
Over the past 2 years, through IPSC, many activities and initiatives to motivate this economic sector have been strongly implemented. Vietnam has selected and comprehensively supported businesses, gradually creating typical pioneering business models in many industries and sectors of the economy, and these are businesses that are expected to position “Made by Vietnam” products in the international market.
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| Awarding 10 ESG (Environment-Social-Governance) initiative enterprises in Vietnam 2023. (Source: MPI) |
In addition, with the ESG 2023 Initiative being organized, awareness of Environmental - Social - Governance practices has been spread to the private economic sector; many businesses and cooperatives have been trained and consulted to apply green economic and circular economic models towards sustainable and inclusive development.
Regarding development opportunities, the Deputy Minister said that perhaps never before have the Vietnam-US diplomatic relations achieved so many important milestones as they do now. After the high-level visit of the two countries' leaders last September, the leaders of Vietnam and the US agreed to establish a Comprehensive Strategic Partnership for peace, cooperation and sustainable development. The new framework of the Comprehensive Strategic Partnership will create conditions for the two sides to enhance mutual understanding, build and consolidate trust, which is an extremely important foundation for the long-term relationship between the two countries in the years to come.
"With the initial impressive results in supporting the Vietnamese private sector, the Ministry of Planning and Investment hopes that in the coming time, it will continue to receive support from the Government and people of the United States and USAID to promote business support activities towards promoting the pioneering spirit of private enterprises; supporting businesses in digital transformation, application of science and technology, innovation, and application of new business models," Deputy Minister Tran Duy Dong affirmed.
Representing the United States, Ms. Aler Grubbs, Director of USAID Vietnam, said that USAID is committed to promoting economic growth and enhancing the competitiveness of Vietnam's private sector.
“By working closely with the Ministry of Planning and Investment to support businesses in promoting sustainable business and applying ESG practices, we help Vietnamese businesses enhance their competitiveness, achieve long-term development goals, meet international standards and participate deeply in global value chains to create a sustainable and prosperous Vietnam,” said Ms. Aler Grubbs.
At the Forum, the Organizing Committee presented the Memorandum of Understanding on cooperation between the Department of Enterprise Development, Ministry of Planning and Investment, USAID IPSC project with representatives of 22 pioneering enterprises, and at the same time, awarded prizes to 10 ESG (Environment-Society-Governance) initiative enterprises in Vietnam 2023.
According to the Ministry of Planning and Investment, with about 910,000 operating enterprises, more than 14,400 cooperatives and more than 5 million business households, they have created a powerful force promoting Vietnam's economic development. The private economic sector is contributing about 50% to Vietnam's GDP, creating jobs for more than 80% of the workforce and making an important contribution to Vietnam's economic development, putting Vietnam's GDP scale in the TOP 40 of the world, and international trade scale in the TOP 20 of the world. |
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