The Prime Minister highlights business resilience and calls for bold reform and global integration.
At a conference held on August 30 titled "80 years of businesses accompanying the nation", Prime Minister Pham Minh Chinh delivered three core messages to the business community and called on enterprises to support the government, ministries, and local authorities in driving forward three strategic breakthroughs.
The event was chaired by Prime Minister Pham Minh Chinh and attended by key leaders including Do Van Chien, Chairman of the Central Committee of the Vietnam Fatherland Front; Permanent Deputy Prime Minister Nguyen Hoa Binh; along with other Politburo members, ministers, National Assembly deputies, and representatives from 60 state-owned groups, 141 private enterprises, and 50 foreign-invested enterprises (FDIs).
Three messages from the Prime Minister
Prime Minister Pham Minh Chinh chairs the business meeting themed "80 years of businesses accompanying the nation". Photo: VGP/Nhat Bac
In his address, the Prime Minister conveyed three significant messages.
The first message highlighted the consistent 80-year journey of Vietnam's business community in standing alongside the Communist Party and the nation.
Prime Minister Pham Minh Chinh emphasized that through both war and peace, hardship and prosperity, Vietnamese businesses and entrepreneurs have demonstrated patriotism, resilience, and a strong aspiration for progress. Their efforts have significantly contributed to mobilizing resources during the resistance period and national reconstruction. Today, they play a pioneering role in economic development, social welfare, and laying the foundation for national progress and defense.
After nearly 40 years of economic reform (Doi Moi), the business sector has experienced robust growth. In 1986, Vietnam had around 12,000 state-owned enterprises and 40,000 agricultural cooperatives, with no private enterprises as defined today. Today, Vietnam has nearly one million registered enterprises, 98% of which are privately owned, along with over 33,000 modern cooperatives and more than 5 million household businesses.
The second message reaffirmed the Party and State’s unwavering commitment to supporting sustainable enterprise development.
This includes efforts to improve institutions, legislation, and business environments; ensuring equal treatment of all economic sectors; enacting laws and policies promoting entrepreneurship; decentralizing power; reducing administrative procedures and compliance costs; and enhancing government efficiency at all levels.
The government is also prioritizing infrastructure investment, human resource development with attractive policies for talent recruitment, and supporting key industries. Efforts are underway to foster public-private partnerships and promote international market expansion and brand development.
Notably, the Politburo has issued Resolution 68 on private sector development, while the National Assembly and Government have passed Resolutions 198 and 138 respectively, recognizing the private sector as a principal driver of the national economy.
The third message looked toward a new era of national prosperity and global competitiveness.
The Prime Minister called on the business community to embrace innovation and continue their proud 80-year tradition. He emphasized the need for strong leadership and active participation in realizing the country’s two centennial development goals set out in the 13th Party Congress.
Vietnam aims to have around 2 million enterprises by 2030, contributing 55-58% of GDP and employing 84-85% of the labor force. Labor productivity is targeted to grow by 8.5-9.5% annually. By 2045, the goal is to have over 3 million enterprises contributing more than 60% of GDP, with strong international competitiveness and deeper participation in global value chains.
The Prime Minister urged a mindset shift, recognizing entrepreneurs as vital economic warriors. He called for consensus and bold action to support enterprise growth.
He encouraged businesses to diversify markets, products, and supply chains, especially for export-driven sectors, and to meet international standards through enhanced trade promotion and demand-supply linkages.
Enterprises were also asked to play a key role in building a resilient and self-sufficient economy, while actively engaging in deep and substantive global integration.
Accelerating strategic breakthroughs
The Prime Minister conveyed three important messages to the business community and entrepreneurs. Photo: VGP/Nhat BacDo Van Chien, Chairman of the Central Committee of the Vietnam Fatherland Front, and Deputy Prime Ministers Tran Hong Ha, Le Thanh Long, Bui Thanh Son, and Mai Van Chinh attend the meeting. Photo: VGP/Nhat BacPermanent Deputy Prime Minister Nguyen Hoa Binh and Deputy Prime Ministers Nguyen Chi Dung and Ho Duc Phoc attend the meeting. Photo: VGP/Nhat BacPrime Minister Pham Minh Chinh presents the First-class Fatherland Defense Order to Viettel and Military Bank; the Second-class Order to Brigade 18 and EVN. Photo: VGP/Nhat BacDo Van Chien and Nguyen Hoa Binh present Certificates of Merit from the Prime Minister to 18 exemplary businesses. Photo: VGP/Nhat Bac
Prime Minister Pham Minh Chinh expressed confidence that the business community would continue partnering with the government and local authorities to vigorously implement national policies and drive rapid, sustainable development for the socialist Republic of Vietnam.
He called on businesses to actively contribute to the nation’s three strategic breakthroughs: liberalized institutions, seamless infrastructure, and intelligent entrepreneurship.
He also awarded the First-class Fatherland Defense Order to Viettel Group and Military Bank (MB), and the Second-class Order to Brigade 18 and Vietnam Electricity (EVN), recognizing their outstanding contributions.
Additionally, 18 exemplary businesses were honored with Certificates of Merit from the Prime Minister, presented by Do Van Chien and Deputy Prime Minister Nguyen Hoa Binh.
The Prime Minister called for effective implementation of government action programs aligned with the Politburo’s directives on breakthroughs in science, technology, innovation, and digital transformation. He urged efforts to enhance international integration, legal reform, private sector development, and education.
He stressed the need to identify bold and creative strategies, seize opportunities not only for enterprise growth but also for national progress and regional peace.
He encouraged the business community to embody patriotism, solidarity, and compassion, while innovating production models, restructuring operations, and promoting corporate culture and civility.
He also urged associations to bolster support for businesses, offer policy feedback, and strengthen the legal framework. FDI enterprises were asked to deepen cooperation with local firms through technology transfer, human resource training, and joint market expansion.
Government agencies were called upon to restructure operations, simplify administrative procedures, and foster a business-friendly environment. The transition should move from “tight control - if unmanageable, then ban” to a proactive, service-oriented governance model.
The Prime Minister reaffirmed the government’s appreciation of enterprise contributions and its commitment to supporting a strong, united, and dynamic business community capable of transforming the economy toward green, digital, circular, and sustainable growth.
Speaking at the event, business representatives reiterated their commitment to national development and offered a range of proposals.
These included calls for a unified understanding of the entrepreneur’s role, stronger state leadership, institutional reform, and the removal of barriers to enterprise participation across all societal aspects. They also urged fair treatment of all economic actors, high-quality workforce training, and incentive policies to attract talent - especially in high-tech and emerging sectors - to drive enterprise growth.
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