Do Ha Nam, chairman of Intimex Group, shared that his company faced significant hurdles related to capital and tax refund policies. Intimex has invested heavily in processing facilities to meet bank requirements, building 30 factories for coffee, rice, pepper, and cashews, while consistently meeting debt obligations.

However, he noted ongoing risks with tax refunds, where some enterprises are still awaiting reimbursements worth hundreds of billions of dong. Nam urged the government to address these policy bottlenecks to ease the burden on businesses.

Nam also pointed out the challenge of controlling agricultural commodity prices. Farmers holding coffee stocks can influence global market prices, but businesses have no viable mechanism to manage this.

He called for government involvement in regulating key agricultural products, as Vietnam is a global leader in coffee and pepper exports.

Insights from Bamboo Airways chairman

Phan Dinh Tue, chairman of Bamboo Airways, recalled a business trip to Indonesia three decades ago, where local authorities gave high regard to private enterprises, even providing police escorts.

Sharing his experience, he emphasized the importance of fair treatment between private and state-owned enterprises (SOEs) in Vietnam.

Private enterprises and SOEs alike contribute to national development, Tue argued, and they should be treated equally - not just in rhetoric but in practice.

He called for a shift in how state agencies engage with businesses, suggesting they should be more proactive in understanding business needs rather than imposing rigid procedures.

In the aviation sector, where Bamboo Airways operates, Tue highlighted that private carriers often face challenges in accessing infrastructure such as terminals and maintenance facilities compared to state-owned airlines. He advocated for transparent, equal policies to ensure all aviation companies can thrive.

Economic experts propose solutions

Dr. Can Van Luc, Chief Economist at BIDV, noted that Vietnam has around 5.2 million business households, but only 2.1 million are officially registered and pay taxes.

He proposed that the government should encourage these households to formalize into small and micro-enterprises to ensure transparent taxation and reduce regulatory ambiguity.

Luc also called for a revision of the 2017 Law on Supporting Small and Medium Enterprises, suggesting that support should be based on actual economic contributions rather than a one-size-fits-all approach.

Meanwhile, economist Tran Hoang Ngan stressed that Vietnam’s economic self-reliance relies on the private sector, which currently mobilizes 82% of the workforce and 60% of total social investment.

In Ho Chi Minh City alone, to achieve a 10% GRDP growth rate, private investment must reach approximately 450 trillion VND, while public investment can only meet 120 trillion VND.

Ngan recommended that government policies should better recognize the diverse contributions of private enterprises, from tax revenue and export value to job creation, fostering an ecosystem that supports sustainable private sector growth.

Anh Phuong