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Mr. Pham Nhat Vuong, Chairman of Vingroup – Photo: VGP/Nhat Bac
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As a business owning six brands among the Top 100 most valuable and strongest brands in Vietnam, Mr. Pham Nhat Vuong, Chairman of Vingroup, shared that the Conference of the Government Standing Committee working with enterprises on solutions to contribute to the socio-economic development of the country showed concern, encouragement, and was a fire-starting action for the business community, including Vingroup, to have more motivation and energy to strive for further economic development.
At the Conference, Mr. Vuong made suggestions on three groups of issues:
First, regarding training, Vingroup proposed that the Government strengthen English training and promote it not only in public schools but also for all citizens, aiming towards a global citizen society.
Vingroup and other enterprises are willing to sponsor teachers to go to remote areas. By promoting English training from remote to urban areas, we are providing a better “means of livelihood” for children in disadvantaged areas, contributing to the development of these regions in the future.
Second, it is suggested that the Government intensify or expand quotas for investing in training students in the fields of technology, computer science, AI, big data, etc. Thus, over time, we will create a large number of workers in this industry, which, in fact, 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 most significant limitation regarding social housing is related to the content of 10% profit.
Specifically, if real estate enterprises implement this with a 10% profit, it is impossible because capital will be stagnant for only 1-2 years, or slow sales for 1-2 years will result in a loss, while social housing is about contribution, not business.
At the same time, Vingroup also requested the Government to allow simultaneous preparation of all types of planning: general and subdivision planning, detailed planning, and inter-branch planning. This would shorten the time for this work by 6-9 months.
Third, it is suggested that the Government increase the standards for social housing, meaning there must be a basement for parking, a playground for children, and other utilities…
Within the group of social housing, there should also be an exclusive area for officials, workers, armed forces, military, etc.
Fourth, it is proposed that the Government support small and medium-sized enterprises so that they have sufficient initial conditions to participate in the auxiliary industry chain. By promoting this, we will have a very strong auxiliary industry. Initially, we now have a number of enterprises promoting industrial production.
Bold Proposals by Top Vietnamese Conglomerate Leaders
At a meeting with the Government’s Standing Committee, leaders of Vingroup, Hoa Phat, Thaco, KN Holdings, Sun Group, T&T, Geleximco, Minh Phu Seafood, Masan, Sovico, TH, and REE proposed a series of specific initiatives and projects to foster the growth of prominent Vietnamese enterprises.
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