Bold Proposals by Top Vietnamese Conglomerate Leaders

At the Standing Government Conference working with enterprises on solutions to contribute to the country’s socio-economic development on September 21, leaders of corporations simultaneously proposed solutions and suggested some ideas for the development of strong Vietnamese enterprises.

Proposing that the Government has a mechanism to appoint investors to build social housing

Notably, as the owner of 6 brands in the Top 100 most valuable and strongest brands in Vietnam, Mr. Pham Nhat Vuong, Chairman of Vingroup, proposed 4 groups of issues.

First, regarding training, Vingroup Group proposed that the Government promote English training and popularization not only in public schools but also for all people, towards a global citizen society.

Vingroup Group and other enterprises are ready to sponsor teachers to go to remote areas. If we promote English training from remote to urban areas, it is like providing a better “fishing rod” for children in difficult areas, contributing to the development of these areas in the future.

Second, it is suggested that the Government promote or expand quotas for training students in the field of technology, computer science, AI, big data… Accordingly, over time, we will create a large number of workers in this industry. In fact, this industry will have a much brighter future than other industries.

Regarding welfare, with a focus on social housing, the group proposed that the Government have a mechanism to appoint investors to shorten the time for completing procedures, as the biggest limitation for social housing is related to the content of 10% profit.

Mr. Pham Nhat Vuong analyzed that if real estate businesses implement this with a 10% profit, it cannot be done, because capital will be stagnant for 1-2 years or slow sales for 1-2 years will result in losses, while social housing is a contribution, not a business.

At the same time, the Chairman of Vingroup also proposed that the Government allow simultaneous preparation of all types of planning, including general planning and subdivision planning, detailed planning, and inter-regional planning. This will shorten the time for this work from 6-9 months.

Fourth, it is suggested that the Government increase the standards for social housing, which must include a basement for parking, a playground for children, and other utilities…

Within the group of social housing, there should also be an area dedicated to cadres, civil servants, armed forces, and the military…

Mr. Pham Nhat Vuong also proposed that the Government support small and medium-sized enterprises so that they have sufficient initial conditions to participate in the auxiliary industry chain. If this is promoted, we will have a very strong auxiliary industry. Initially, we now have a number of enterprises that are promoting industrial production.

Proposing a free trade area in potential marine and island tourism areas

Mr. Dang Minh Truong, Chairman of the Board of Directors of Sun Group, proposed the institutionalization of mechanisms and policies to attract private enterprises to participate in dynamic projects for socio-economic development.

This includes mechanisms for land allocation and land tax; mechanisms to prioritize projects with comprehensive efficiency; continue to reform administrative procedures and investment procedures towards faster, more decentralized, and more powerful directions; encourage private enterprises to participate in BT projects; and consider piloting a model and mechanism similar to the model of free economic zones in the world.

Consider a pilot policy to facilitate foreigners to buy and own tourist real estate; have special mechanisms to support the construction of works and infrastructure systems of PPP projects to connect transportation to potential but hard-to-reach tourist destinations…

According to Mr. Dang Minh Truong, it is necessary to institutionalize the selection of strategic investors with a mechanism to assign tasks to private enterprises that are capable of implementing key projects for socio-economic development. Along with this selection mechanism, there should also be accompanying special mechanisms.

Mr. Dang Minh Truong gave an example that for a project, if it is put up for bidding, it will take a lot of time, 2-3 years, or even longer. However, with some large-scale dynamic projects, only a number of enterprises are capable of implementing them, and eventually, one will be chosen, but a lot of time, cost, opportunity, and money will be lost.

The Chairman of Sun Group also proposed to consider applying the free trade model in potential marine and island tourism areas such as Phu Quoc… to develop and attract investment.

“These forms are popular in the world such as Hainan Island (China), Jeju Island (Korea). Although Phu Quoc is a well-known destination, its communication and promotion have not been commensurate. If there is a special mechanism according to the free economic zone model, Phu Quoc will surely become a new tourist and resort destination in the world,” said Mr. Truong.

Regarding the mechanism for the foreign tourist market, Mr. Dang Minh Truong proposed that ministries and branches continue to implement the Prime Minister’s direction to expand the list of unilateral visa exemptions, short-term visa exemptions, and pilot them for tourists from some large-scale and high-spending markets; granting long-term visas and multiple entries for segments from India, China, the US, and Europe…

Building a strong fleet of Vietnamese aircraft

Ms. Nguyen Thi Phuong Thao, Chairwoman of the Board of Directors of Sovico Group, said that Sovico has 2 listed companies, with a capitalization of nearly USD 6 billion.

“The initiatives of Vietnamese corporations are limitless; I hope the Prime Minister will trust private enterprises, create conditions, and build regulations, laws, mechanisms, and environment for ethnic enterprises to form private economic groups with national and international strength and brands to be the locomotive and promote small and medium-sized enterprises, the agricultural and rural sector, and startups.” – Ms. Thao proposed.

The businesswoman confidently asked the Government to create favorable conditions and mechanisms for Vietjet to proactively invest and build a strong fleet of Vietnamese aircraft.

Prioritize the development of renewable energy

Mr. Le Van Kiem, Chairman of KN Holdings Group, expressed his hope that ministries, branches, agencies, and localities would continue to simplify administrative procedures, especially in the fields of planning, investment, and land for the development of industrial park infrastructure.

The Chairman of the Board of Directors of KN Group expects that, with the support of the Government, there will be more and more high-tech products with the brand “Make in Vietnam” reaching out to the world.

The Chairman of the Board of Directors of KN Group mentioned that the Government has shown a priority for the development of renewable energy, contributing to the implementation of international commitments and combating climate change through the issuance of Power Plan 8 recently.

KN Group hopes that the Prime Minister and the leaders will pay attention and consider renewable energy projects that have been approved for investment, ensuring feasibility, and implementing them quickly in the form of direct power purchase and less land use such as floating solar power projects, in the spirit of Resolution 55 of the Politburo, giving priority in the Power Plan 8 and considering increasing the capacity in the adjustment of the national power grid planning.

This will not only contribute to increasing the source of renewable energy to serve economic development in the future but also attract large corporations that want to use clean energy to be certified green for their products.

The Central Highlands can be converted to a form of mixed forest and livestock farming

Mr. Tran Ba Duong, Chairman of the Board of Directors of Truong Hai Auto Corporation, said that Truong Hai Group is pursuing an automotive production center for international brands in Vietnam and other regions, especially in ASEAN…

For automobiles, the trend is towards green and convenient vehicles. However, if completely switching to electric vehicles, there must be a roadmap and time for investment in infrastructure and safety… Currently, almost all car brands that Truong Hai cooperates with have electric cars, but the number coming to Vietnam is still limited.

The leader of Truong Hai Group hopes to have workshops for all parties to contribute proposals and opinions to change the market trend of vehicles such as green vehicles, fuel-efficient vehicles, vehicles with batteries, and charging…

“We are continuing to implement an industrial zone for industrial mechanical support in Vietnam because, currently, many FDI enterprises send parts to Vietnam for assembly and transfer a lot, of which we produce 35-40% of the details, components, and accessories…” – Mr. Tran Ba Duong said.

Therefore, the leader of Truong Hai Group proposed that, for the supporting industry, the Government should pay attention and care. Currently, the field of mechanics has a life and simple labor nature, suitable for a large number of laborers in Vietnam, so this is also an opportunity to develop a basic industry in Vietnam as well as for export.

Regarding agriculture, Mr. Tran Ba Duong proposed that areas such as the Central Highlands could be converted to a form of mixed forest and livestock farming, and even some agricultural land could be converted to have agro-livestock complexes to create a cycle. This is a very good development orientation in Vietnam.

Typically, during the past time, people planted durian very well and have exported this fruit.