PM calls for businesses’ greater contributions to national development

Chairing a meeting between permanent Government members with leaders of businesses on February 10, which aimed to discuss solutions for private enterprises’ acceleration and breakthroughs to promote the country’s rapid and sustainable development in the new era, PM Chinh acknowledged and highly evaluated responsible opinions of delegates, stating that through the meeting, leaders of the Party, State, and ministries, and businesses gained a deeper understanding and shared more.

He highlighted the great contributions of businesses and entrepreneurs to the country’s development accomplishments in the 40-year “Doi moi” (renewal) process, especially during times of crisis and difficulty such as the COVID-19 pandemic, and natural disasters. The PM noted that the private sector currently contributes nearly 45% to the nation's GDP, and over 40% of the total social investment, provides jobs for 85% of labourers nationwide, accounts for 35% of the country's total import turnover, and 25% of total export turnover.

The Government leader affirmed that the Party and State always implement numerous policies and laws to support and create favourable conditions for the development of businesses and entrepreneurs.

He demanded ministries, sectors, localities, and especially businesses, to achieve growth rates that are equivalent to, or even higher than the country's growth target, thus enabling the nation to relise its key goals by the 100th founding anniversary of the Communist Party of Vietnam in 2030.

PM Chinh hoped that the business community and entrepreneurs will take the lead in innovation, accelerating scientific-technological development and digital transformation, towards making more contributions to implementing strategic breakthroughs on institutional reform, infrastructure development, and human resources training, helping the country reach rapid and breakthrough growth, and promote inclusive, comprehensive, sustainable development.

The PM also urged promoting the building of digital economy, green economy, circular economy, creative economy, and sharing economy. He called on businesses to join global value, supply and production chains to enhance national brands; actively contribute to social welfare programmes, and support the Government’s programme to eradicate temporary and dilapidated houses.

Representatives from businesses expressed their strong support, and pledged to proactively join national programmes initiated by the Party and the State, contributing to the country's goal to expand GDP by at least 8% in 2025, and reach double-digit growth in the coming years.

Notably, businesses showed their readiness to engage in large-scale national projects, including the North-South high-speed railway; standard-gauge railways connecting with China; urban railways; the nuclear power projects; science and technology development programmes; innovation initiatives; and projects exploring underground, marine, and space resources.

Tran Ba Duong, Chairman of the Board of Directors of Truong Hai Group JSC (THACO), stated that with its highly qualified engineers and expertise in product research and development, and international cooperation, THACO is committed to make a rational technology transfer and localised production to serve railway projects, aiming to reduce costs, ensure quality, and enable small and medium-sized enterprises to participate in its supply chain.

Meanwhile, Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group JSC, affirmed his firm's readiness to invest in and supply products for urban railway projects in Hanoi and Ho Chi Minh City, Lao Cai – Hanoi – Hai Phong railway project, the North-South high-speed railway. He stressed that Hoa Phat can ensure quality, timely delivery, and lower costs compared to imported products.

Representatives from businesses suggested the Government, ministries, and local authorities continue addressing obstacles related to land laws, planning, procedures, licensing, and mechanisms to unlock potential resources. They called for financial support and tax policies tailored to priority sectors and projects.

FPT Chairman Truong Gia Binh noted that Vietnam’s scientific potential has doubled relative to its GDP. He proposed integrating AI into the curriculum across all education levels to speed up Vietnam’s transformation into an AI-driven nation.

Chairman and CEO of T&T Group Do Quang Hien proposed accelerating the equitisation of state-owned enterprises, suggesting that enterprises that no longer require state ownership can have their capital fully divested.