Vietnam Entrepreneur’s Day (October 13): Pioneering Entrepreneurs Creating Sustainable Vietnam

Prime Minister Pham Minh Chinh and Deputy Prime Ministers Tran Luu Quang attend a meeting with representatives of Vietnamese entrepreneurs on the occasion of Vietnam Entrepreneur’s Day (October 13). Photo: VGP 

On the occasion of Vietnam Entrepreneur’s Day (October 13), Prime Minister Pham Minh Chinh chaired a regular government meeting with outstanding entrepreneurs to honor entrepreneur force as well as listen and discuss in order to strengthen the ranks of Vietnamese entrepreneurs and businesses. This contributes to building a strong and prosperous nation where the people are increasingly happy and well-off. Vietnamese entrepreneurs are recognized as the pioneering force in building a sustainable, prosperous, and developing Vietnam.

Prime Minister Pham Minh Chinh: The Government actively collaborates with businesses

The community of entrepreneurs and the Vietnamese business community constitute the primary material production force of the Vietnamese economy, play an extremely important role in the nation's construction and development. Since the establishment of the country and throughout the history of our nation, President Ho Chi Minh, the Party, and the State have consistently recognized and highly valued the position and role of Vietnamese entrepreneurs and businesses in building and developing the nation.

Currently, Vietnam has nearly 900,000 active businesses, around 14,400 cooperatives, and more than 5 million households engaged in business. The business sector contributes over 60% of the GDP and employs about 30% of the total labor force. Thanks to the correct perspective and approach to innovation, nation-building, and development, along with the contributions of the entrepreneurial community, as of today, "Our country has never had the resources, potential, international standing, and reputation it has now," as affirmed by General Secretary Nguyen Phu Trong and the documents of the 13th National Party Congress.

In this regard, after more than 36 years of reform, by the year 2022, Vietnam's GDP reached approximately $409 billion, an increase of about 51 times. Particularly, during the period from 1986 to 2022, Vietnam was among the top 5 countries with the fastest-growing economies in the world. Vietnam has become the fourth-largest economy in ASEAN and the 40th in the world, with international trade volume ranking in the top 20 globally. It is considered one of the most dynamic and open economies in the world.

In the coming times, the global economy and the international situation continue to be complex and unpredictable, with many new difficulties and challenges, including the six "headwinds" hindering global and Vietnamese economic growth. To build a strong, prosperous, and independent Vietnam, and to continually develop the community of entrepreneurs both in quantity and quality, who are socially responsible, protect the environment, and have a responsibility towards workers, the Government will efficiently implement Resolution 41 of the Politburo regarding the development and role of Vietnamese entrepreneurs in the new era.

In this context, the Government and the Prime Minister will continue to support the business community, maintain macroeconomic stability, control inflation, promote growth, and stabilize the major balances of the economy. They will also ensure the security and social order for the community, enabling them to produce and expand markets, create employment for workers, and contribute to social welfare.

The Government will continue to vigorously improve the investment and business environment, making it fair, transparent, and equal. Unnecessary barriers and regulations on business conditions will be eliminated to enhance national competitiveness, promote administrative procedure reform, develop a digital economy, and establish a modern, citizen-friendly, and business-friendly digital government.

In addition, the Government will address bottlenecks in resource mobilization and production and business activities. It will facilitate access to credit for individuals and businesses, directing credit towards priority sectors and growth drivers, fostering trust, motivation, and entrepreneurial spirit with the principle of placing the people and businesses at the center, as subjects and objectives, and as the driving force. The Government aims to promote strong development of diverse, safe, healthy, and transparent markets.

The Government hopes that business associations will effectively play their role in supporting businesses and providing effective advice, as well as contributing to improving the legal framework related to business activities. These associations should serve as a bridge and a voice for the business community, working to build a united and powerful business community for a strong and prosperous Vietnam. The Party, the State, and the people will always be a reliable support for and have trust in the development of Vietnamese businesses and entrepreneurs.

Many Vietnamese Enterprises and Entrepreneurs Have Achieved Breakthroughs

According to the Chairman of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Tan Cong, the economic situation, both domestically and internationally in 2023, is extremely challenging. The Party and the State are always by the side of businesses, offering timely policies to support them. Vietnamese businesses have had to make tremendous efforts to overcome these difficulties. Thanks to these timely policies, many Vietnamese enterprises and entrepreneurs have made breakthroughs in business management, production, and the formation of powerful private economic conglomerates with ambitious projects of international stature. They are pioneers in certain crucial sectors, such as automobile manufacturing, aviation, and information technology.

General Secretary Nguyen Phu Trong has recently signed Resolution 41-NQ/TW on the development of the entrepreneur community in the new era. The resolution contains new content regarding perspectives, orientations, and implementation solutions that align perfectly with the expectations of Vietnamese entrepreneurs. Notably, the resolution reaffirms the non-criminalization of economic relations, which is a new element that has ignited enthusiasm among Vietnamese entrepreneurs and businesses.

Entrepreneurs and businesses eagerly anticipate rekindling and revitalizing their entrepreneurial spirit. This spirit's strength will help Vietnam overcome difficulties, dare to think, dare to act, and dare to decide.

With the current number of businesses, the entrepreneur community, including business leaders, numbers between 2 to 3 million people. If we consider all those engaged in business, including individual household businesses, the entrepreneur community could potentially reach up to 10 million people. This is a significant human resource for the country, playing a crucial role in industrialization, modernization, and the development of an independent, self-reliant, and integrated economy for Vietnam in the new era.

Chairman of VINASME Nguyen Van Than: Vietnam is a shining example

The Chairman of VINASME emphasized that, in the context of domestic production and business activities being significantly impacted by economic, geopolitical, and international instability in the early months of 2023, the Government and the Prime Minister have closely directed various ministries, sectors, and localities to vigorously implement well-adapted, flexible, and effective policies and solutions to address new challenges and timely resolve difficulties for businesses. As a result, Vietnam has achieved very impressive results in recent times.

Along with the rapid increase in scale and the enhancement of management capabilities, knowledge, business skills, and professionalism of Vietnamese entrepreneurs, their international integration capabilities have shown significant progress. There are increasingly larger entrepreneurs and businesses with brands that reach beyond the regional and global levels, playing a vital role in the development of various industries, regions, and leading small and medium-sized enterprises in their respective sectors.

With the government's support, the business community is gaining confidence and has seen a historic opportunity for Vietnam to enter a new phase of development. Despite countless challenges and headwinds, Vietnam has achieved a GDP growth rate of 4.2%, which is quite high compared to other countries in the region and around the world. This is said to be a shining point. The crucial thing is the confidence of the people and the business community is growing strongly, along with the government's leadership and governance. We are at the threshold of breakthrough development, on the cusp of an era where Vietnam has the potential to take flight and become a developed nation in the near future.