Speaking at ASEAN BIS 2024, Prime Minister Pham Minh Chinh urged foreign businesses and entrepreneurs to continue investing and cooperating in Vietnam, emphasizing the "4 togethers" - working together, winning together, benefiting together, and growing together.

On the afternoon of October 8, during the ASEAN Summit in Laos, Prime Minister Pham Minh Chinh attended and spoke at the ASEAN Business and Investment Summit 2024 (ASEAN BIS). This is the largest annual business forum in Southeast Asia, organized as part of the ASEAN Summit.

In his speech, Prime Minister Pham Minh Chinh noted that despite the intertwined challenges and opportunities in the global landscape, ASEAN remains resilient and a key growth hub. He emphasized that businesses and entrepreneurs from ASEAN countries have contributed to these achievements.

The Prime Minister stated, "When businesses thrive, nations thrive. When ASEAN businesses prosper, ASEAN countries prosper, contributing to the well-being and happiness of their people."

“We always acknowledge, appreciate, and highly value the contributions of businesses and entrepreneurs. Without skilled entrepreneurs, economies stagnate, and nations cannot prosper. Your contributions are essential and deserving of recognition,” the Prime Minister said.

He encouraged businesses and entrepreneurs to continue contributing to ASEAN's unity and resilience, supporting governments in achieving their stated goals.

"5 Pioneering Actions" for businesses

The Prime Minister called on businesses and entrepreneurs to take the lead in five key areas. These include contributing to ASEAN's resilience and addressing emerging global and regional challenges. "A resilient ASEAN cannot exist without resilient entrepreneurs and businesses," the Prime Minister emphasized.

Specifically, businesses must lead in digital transformation, green transition, achieving net-zero emissions, tackling climate change, and advancing fields like artificial intelligence (AI), cloud computing, and the Internet of Things (IoT).

The Prime Minister also urged businesses to be at the forefront of enhancing economic connectivity, promoting science, technology, innovation, and entrepreneurship, especially in response to challenges such as climate change, aging populations, natural disasters, and pandemics.

Furthermore, he called on businesses to spearhead the development of strategic infrastructure in each nation and foster inter-country connectivity. Additionally, they should lead in both intra-ASEAN integration and global integration, recognizing that no country can tackle global and regional issues alone.

Vietnam’s development pillars

Discussing Vietnam's key development foundations and achievements, Prime Minister Pham Minh Chinh emphasized that the country builds and develops based on three pillars: a socialist democracy, a socialist rule-of-law state, and a socialist-oriented market economy.

"Our overarching philosophy centers on the people - they are the heart, the subject, the goal, the driving force, and the source of our development. We do not sacrifice social progress, justice, or welfare for mere economic growth," the Prime Minister highlighted.

Expressing gratitude to foreign businesses and investors, particularly those from ASEAN, who have already invested and cooperated in Vietnam, the Prime Minister affirmed that Vietnam would continue to create the best conditions for businesses and investors to maximize their creativity and take full advantage of Vietnam's unique potentials, standout opportunities, and competitive advantages.

The government will continue its role as a facilitator, guided by the principles of “open policies, seamless infrastructure, and smart governance”, reducing compliance and logistics costs for both citizens and businesses, according to the Prime Minister.

The "4 Together" Philosophy

Prime Minister Pham Minh Chinh called on foreign businesses and entrepreneurs to continue investing and collaborating in Vietnam under the "4 togethers" philosophy:

1. Together listen and understand  

2. Together share vision and take action  

3. Together work, win, benefit, and grow  

4. Together share in joy, happiness, and pride

This approach emphasizes harmonized interests and shared risks between the government, businesses, and citizens.

Quang Phong