Brian Jeffrey
Prime Minister’s Direction Ahead of Vietnam Entrepreneurs’ Day
During a recent meeting in preparation for Vietnam Entrepreneurs’ Day on October 13, Prime Minister Pham Minh Chinh instructed relevant officials to gather and analyze feedback from the business sector. The goal is to formulate a formal response that addresses the issues raised by businesses and entrepreneurs.
The Prime Minister recognized the significant impact of the business community on the country’s transformation, especially during this period of economic change. He praised the impressive advancements and contributions made by Vietnamese businesses and entrepreneurs.
Over the last two decades, the Vietnamese business landscape has thrived, with a rising number of new registrations. Since 2004, there have been over 1.88 million new companies established, indicating that the number of new businesses in 2023 surged approximately 4.3 times compared to 2004. In the first eight months of 2024 alone, over 110,000 new businesses were launched, showing a 4.4% increase from the same timeframe in 2023.
Entrepreneurs are influential across a broad spectrum of industries, not only making strides in the domestic market but also gaining recognition internationally. Key players include Viettel, PVN, Vingroup, FPT, Thaco, Hoa Phat, TH, Vinamilk, and Masan, all of which have made significant contributions to spearheading progress.
Numerous companies are at the forefront of technology and innovation, helping create an environment where small and medium-sized enterprises can flourish, while also leading the charge in green initiatives and digital transformation.
Key Initiatives for Business Support
In honor of Vietnam Entrepreneurs’ Day, the Prime Minister outlined six essential actions for the government and local authorities to better support businesses:
- Transparent Business Environment: Ensure a fair and competitive market economy.
- Comprehensive Infrastructure Development: Improve infrastructure to reduce costs and boost product competitiveness.
- High-Quality Human Resources Training: Develop skilled labor tailored to business needs.
- Modern Corporate Governance: Update governance to better mobilize resources for development.
- Defense of Business Interests: Protect the legal rights of companies and prevent criminalization of economic activities.
- Capable Entrepreneurial Workforce: Foster a skilled team of entrepreneurs.
The Prime Minister underscored the importance of creating a transparent system, efficient infrastructure, and intelligent governance to support business expansion. He urged a shift from discussion to action, ensuring that commitments yield concrete results.
Additionally, he encouraged entrepreneurs to take the lead in several areas: pursuing reform breakthroughs, enhancing scientific research, contributing to economic stabilization while prioritizing growth, improving corporate governance, and fostering national unity alongside social welfare.
Emphasizing collaboration and shared objectives, the Prime Minister called for all stakeholders to engage in mutual growth and understanding. He expressed confidence that Vietnamese entrepreneurs and businesses will continue to play a crucial role in the country’s socio-economic development for the benefit of all citizens.
