On the morning of September 28, at the International Convention Center (11 Le Hong Phong, Hanoi), the 3rd National Congress of the Vietnam Private Business Association (VPBA), term 2025–2030, officially commenced. The event brought together hundreds of prominent entrepreneurs from across the country, with the attendance of Deputy Minister of Home Affairs Vu Chien Thang, along with representatives from ministries, central agencies, and local authorities.

Over the past two terms, VPBA has established itself as the shared home of Vietnam’s private business community, playing an instrumental role in promoting policy and creating a dialogue channel between entrepreneurs and the State. However, with the Politburo's Resolution 68 affirming that the private economy is one of the most important driving forces of the national economy, expectations for VPBA’s third term have grown significantly. In this context, the keynote address by Mr. Nguyen Trung Chinh – Chairman of CMC Technology Group and Vice President of VPBA – became a focal point of the Congress, offering pivotal proposals to advance the private business sector.

The private economy in the era of new resolutions

Opening his remarks, Mr. Nguyen Trung Chinh emphasized the strategic decisions undertaken by the Party and the State. “Our Party has made groundbreaking moves with four key resolutions, particularly Resolution 57 on science, technology, innovation, and digital transformation, and Resolution 68 on the development of the private economy. These create the foundation for a new era in which the private sector is no longer just a component but becomes the main driving force of the economy.”

He stressed that by 2030, the private sector must attain an annual growth rate of 10–12%, contribute 55–58% of GDP, and generate employment for the majority of the national workforce. Specifically, labor productivity in this sector must grow by 8.5–9.5% per year to keep up with and exceed the overall economy.

“These numbers represent both targets and challenges,” he noted. “To transform these challenges into opportunities, private entrepreneurs must break through forcefully, leveraging innovation and technology as the driving engines of growth. There is no other path forward.”

AI and innovation – a golden opportunity for private enterprises

The central theme of his speech was artificial intelligence (AI), which he identified as the decisive factor for Vietnam’s productivity and competitiveness over the next two decades. He stated: “Globally, AI is forecasted to contribute approximately USD 15.7 trillion in economic value by 2030, nearly 14% of global GDP. For Vietnam, if we seize this opportunity wisely, AI could contribute USD 120–130 billion to GDP by 2040.”

He described this as a “golden opportunity” for the private sector to leapfrog ahead: “We are standing before an unprecedented opportunity to accelerate. If Vietnamese private enterprises dare to invest in AI research and application, we can significantly close the gap with developed nations. AI is not merely a tool - it is a force that enhances efficiency, restructures management, expands markets, and empowers Vietnamese-branded products to reach global customers.”

He emphasized that this vision requires the business community to view R&D and technology commercialization as strategic pillars. Enterprises must establish tight connections with research institutes and universities to build an innovation ecosystem, while simultaneously promoting international cooperation to access advanced knowledge, technologies, and funding.

He also underlined the crucial role of digital and AI transformation (AI-X), describing them as matters of survival: “Any enterprise that delays transformation will be left behind. Applying AI not only boosts productivity but also introduces an entirely new paradigm of governance - from government operations to business strategies and daily life.”

Policy bridge – CMC’s mark in the new term

Beyond strategic vision, Mr. Nguyen Trung Chinh emphasized VPBA’s role as a policy bridge between the business community and national leadership. He shared:

“As a member of the Prime Minister’s Policy Advisory Council and the National Advisory Council on science, technology, innovation, and digital transformation, I am committed to fully conveying enterprises’ proposals to Party and State leaders. This is how we can address obstacles, reform administrative procedures, and build a transparent and favorable business environment.”

He noted that VPBA must innovate its governance methods in the new term, strengthen international ties, and reinforce its role as a policy conduit, ensuring that the voices of entrepreneurs are clearly heard and promptly reflected in national policymaking.

The Congress also recognized the remarkable contributions of CMC Technology Group. In addition to Mr. Nguyen Trung Chinh being re-elected as Vice President of VPBA, five senior leaders of CMC were elected to the Executive Committee of VPBA’s 3rd term (2025–2028), including:

Mr. Pham Ngoc Bac, Executive Vice President of the Group and CEO of CMC TS

Mr. Dang Tung Son, Senior Vice President and Chief Strategy Officer of CMC

Mr. Nguyen Viet Bach, Vice President of the Group and Deputy CEO of CMC Global

Mr. Nguyen Hai Son, Vice President of the Group and CEO of CMC Consulting

Mr. Tran Quoc Chinh, Vice President of the Group and CEO of CMC Cyber Security

Their significant presence reflects CMC’s deep commitment to collaborating with VPBA in building a strong private business community, fulfilling the vision of making the private economy the foremost driving force of Vietnam’s national development in the new era.

Thuy Nga