Editor’s note: On the occasion of Vietnam Entrepreneurs' Day (October 13), the series “Vietnamese entrepreneurs – the aspiration to build a nation” highlights the portraits of individuals who dare to think differently, take bold actions, and push beyond their limits to contribute to national development through their professions and beliefs.

From An Nhien’s dream of bringing Vietnamese rice into the global value chain, to Nguyen Canh Binh’s persistent journey of “doing business with knowledge in the age of the market,” and the vibrant energy at the ViPEL Forum - where the Party’s reform mindset meets the entrepreneurial drive to nation-build - each story reflects the Vietnamese spirit in a new era: doing business not just to create wealth, but to shape the nation’s future.

"It feels like I’m 30 again"

“I’ve felt like giving up these past few years. I’m nearly 70 now, leading a major company in my sector, but building just one factory takes five years of seeking approvals - how can we work like that? But when I heard the speech by the General Secretary, I felt the same drive I had at 30. I’m ready to start again.”

The voice of the nearly 70-year-old businessman echoed in the conference room, moving many to tears, though he wished to remain unnamed.

His words expressed an emotion rarely seen in business forums these days - the emotion of renewed belief. He didn’t speak of profits or market share, but of “creating wealth for the nation and the people,” of the duty to transform Party resolutions into reality, and of a shared aspiration “to strive together so that Vietnam can rise and stand proud on the world stage.”

At the ViPEL Conference on Vietnam’s private sector economy, the atmosphere was reinvigorated by a special kind of energy - the energy of experienced individuals who still believe that Vietnam can go further, if institutions and actions align.

“Public-private co-nation-building” is no longer just a slogan frequently cited by both the Prime Minister and the business community - it is becoming a shared mindset. The State and entrepreneurs are no longer on opposite sides of the negotiation table; they now sit together, co-writing the script, co-creating initiatives, and co-owning responsibilities.

A golden moment for Vietnamese intellect

Nguyen Thi Phuong Thao, Chairwoman of Sovico Group, spoke with the clarity of someone who sees opportunity in a changing world: “We’re living in an era where AI, semiconductors, big data, and the digital economy are evolving rapidly. This is Vietnam’s golden opportunity to break through and lead.”

According to Thao, Vietnam ranks among the top six countries globally in openness to artificial intelligence, with an emerging innovation ecosystem spanning digital finance, smart manufacturing, and clean energy. For the first time, Vietnamese businesses have the chance to participate deeply in the global tech value chain - something that was just a dream a decade ago.

However, she was also frank: “This opportunity will only become reality if we resolve four bottlenecks: data infrastructure, legal framework, human resources, and capital.” Innovation cannot take flight if data is fragmented, if regulations are cautious toward new ideas, if skilled engineers are scarce, and if venture capital remains a trickle.

For Thao and the new generation of entrepreneurs, stepping into the global game is a must. “Technology is not just a tool - it’s about people, vision, and dreams,” she said. That dream can only have a meaningful ending when a facilitating government, pioneering enterprises, and a supportive society work together - like the three legs of a stool stabilizing a creative and self-reliant Vietnam.

From dialogue to co-creation

ViPEL is being viewed as a “breakthrough in institutional reform,” not merely a new forum or conference format.

Under government directive, ViPEL functions as a national-level public-private coordination mechanism, initiated and managed by the Prime Minister’s Advisory Council for Administrative Procedure Reform (Committee IV). It serves as a platform for the government and private sector to jointly plan, respond to, and implement policy - Vietnam’s first “co-creation policy” model where businesses don’t just offer feedback but also take action.

Mai Huu Tin, Deputy Head of Committee IV, explained, “We’re not speaking in generalities. Each project under ViPEL has specific objectives, monitoring mechanisms, and shared accountability.” He described this as a shift “from critique to co-creation” - a redefinition of the relationship between the State and the market.

Phan Thi Ngoc Thuy, Director of the Committee IV Office, summed up ViPEL’s philosophy in three words: dream together, act together, take responsibility together. “We want businesses not only to connect with the State but with each other, rather than acting alone,” she said. Her simple words reflect a profound transformation: cooperation in development is being institutionalized.

If implemented correctly, ViPEL could become a new type of intermediary mechanism - narrowing the gap between policy design and execution, between thinking and doing. It offers the State a channel for quick feedback and gives businesses a place to contribute initiatives and share responsibility for outcomes.

Without innovation, there is no survival

Vu Van Tien, Chairman of Geleximco, delivered a concise yet powerful message: “Without innovation, we will die.” He pointed to a harsh reality - Vietnam’s industry remains at the bottom of the global value chain.

Localization rates in key sectors are still low: machinery and equipment at 25–35%, automobile parts at 5–20%. More than 70% of industrial export revenue comes from FDI companies, while domestic firms mainly engage in low-value manufacturing.

“We still don’t truly own our technology. We rely heavily on imported materials, equipment, even technical standards,” he said.

According to Tien, ViPEL must not be a token initiative, but a genuine mechanism to help Vietnamese businesses gain larger roles in the global supply chain - where the State builds the legal framework and the private sector invests in R&D, digital transformation, workforce training, and green production.

“Vietnamese businesses must dare to think big, dare to act, and dare to lead,” he emphasized. “Without ambition, we will achieve nothing.”

From mechanism to trust

Vietnam now has nearly 1 million private enterprises and over 5.2 million household businesses, contributing more than half of the country’s GDP and employing 82% of the workforce. These numbers show their significance, but also reveal a paradox: such a massive sector is still entangled in old barriers - land access, red tape, credit constraints, and overlapping regulations.

ViPEL was created primarily to dismantle these barriers and rebuild business confidence. For years, businesses were invited to “comment on policy,” only for their voices to disappear into the void. The government repeatedly claimed to “listen,” yet its response mechanisms remained slow.

This time, with ViPEL, both sides take the wheel: if a policy fails, businesses also bear responsibility; if it succeeds, they must be its first executors.

At the forum, Prime Minister Pham Minh Chinh declared, “The private economy is the most important driver of our economy.” He gifted the forum with 20 words: “Enabling State – Pioneering entrepreneurs – Public-private partnership – Prosperous nation – Happy people.”

This is not just political rhetoric, but a model for development - a model of economic partnership where the roles of the State and the market are recalibrated within a modern framework.

A decade of intellect and action

From the ViPEL Forum emerged not just aspiration, but a renewed spirit of action. Gone were the sighs over procedural delays; in their place came firm commitments: to invest in green technology, to collaborate on R&D, to jointly train the workforce, and to build domestic value chains.

ViPEL has been tasked with implementing Resolution 68 of the Politburo - on making the private sector a key driver of the economy. If successful, it will not merely be a cooperation program, but an institutional step forward: the State shares authority, businesses share responsibility, and society shares the benefits.

Phan Thi Ngoc Thuy concluded: “When leadership will aligns with the people’s spirit, the most sustainable formula is a nation built by all.”

It is clear that after all the promises and resolutions, what this country needs most is unity in action.

When ambition meets reform

From the story of a 70-year-old entrepreneur to ViPEL’s “three together” spirit, a common thread is evident: Vietnam is entering a phase where the ambition of its entrepreneurs meets the Party’s reform-oriented thinking.

If nourished by transparent mechanisms and a spirit of action, this alignment can fuel a new source of energy for the economy. When the State and pioneering entrepreneurs share a common vision, development becomes more than a slogan - it becomes an inevitable outcome.

And when Vietnamese no longer need to “ask for permission” to contribute but are free to do what is right and beneficial for the country - that is the true sign of a humane and mature economy.

As Nguyen Thi Phuong Thao put it, “The 21st century must be the century of Vietnamese intellect.”

ViPEL - if steered in the right direction - could be the place where this begins: where ambition meets institutional reform, and where “public-private co-nation-building” becomes not a promise, but a shared national mission.

Tu Giang - Lan Anh