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On September 21st, Prime Minister Pham Minh Chinh chaired a conference of the Government’s Standing Committee with major enterprises at the Government Headquarters, aiming to discuss solutions for socio-economic development.

Deputy Prime Ministers Tran Hong Ha, Le Thanh Long, and Ho Duc Phoc, along with leaders of ministries, sectors, and central agencies, and representatives from prominent businesses, including VinGroup, Hoa Phat, Thaco, KN Holdings, SunGroup, T&T, Geleximco, Minh Phu, Masan, Sovico, TH, and REE, attended the conference.

In his opening remarks, Prime Minister Chinh stated that since the beginning of his term, the Government has held numerous meetings with domestic and foreign enterprises, especially during the post-COVID-19 economic recovery and development phase. However, this is the first thematic conference, and relevant agencies will continue to research and advise on organizing subsequent thematic conferences.

The Prime Minister emphasized that the conference demonstrates the Party and State leaders’ interest in private enterprises and the private economic sector. The resolutions of the 12th Party Congress, the 10th Plenum of the 12th Party Central Committee, and the 13th Party Congress all underscored the importance of the private sector as “a crucial driving force for the economy.”

According to reports, the private sector currently contributes approximately 45% of GDP, 40% of society’s investment capital, 85% of total employment, 35% of import turnover, and 25% of export turnover. Vietnam also boasts several private conglomerates with regional and global reach.

During the COVID-19 pandemic, enterprises made significant and effective contributions to helping the nation overcome the crisis, control the pandemic, and quickly restore the country to a state of normalcy.

In the context of the pandemic, intense strategic competition, conflicts in many parts of the world, and disruptions in supply and production chains affecting the global and Vietnamese economies, enterprises played a crucial role in socio-economic recovery and development. Vietnam’s GDP scale is now ranked 34th in the world, and the country has never had such a robust foundation, potential, stature, and international prestige as it does today.

These achievements are attributable to the tremendous efforts of the entire population under the leadership of the Party and the management of the State, with significant contributions from enterprises, including the private sector.

Prime Minister Chinh also acknowledged the active participation of enterprises in disaster relief efforts following natural calamities such as Super Typhoon Yagi. Vietnam is one of the five countries most affected by climate change, and the nation’s spirit of mutual affection, patriotism, and solidarity has been strongly demonstrated during these challenging times.

However, we still face numerous difficulties, and our economy’s scale remains modest, with a relatively low per capita income.

As we approach the 40th anniversary of Doi Moi (Renovation), a period of transformation for the country, the Prime Minister expressed his hope that enterprises, especially those that have already achieved success, will continue to uphold the spirit of patriotism, love for the people, nationalism, and solidarity, along with a sense of self-reliance and self-strengthening. He encouraged them to draw upon historical traditions and cultural heritage as a foundation for national development, embracing the philosophy of “working together, winning together, enjoying together, and developing together.” He emphasized the importance of overcoming challenges and contributing to the nation’s progress.

Prime Minister Chinh underscored the belief that “resources stem from thinking and vision, momentum comes from innovation, and strength arises from the people and enterprises.”

He pointed out the need for breakthroughs in the next phase to propel the country into a new era as we approach the 100th anniversary of the Communist Party of Vietnam and look ahead to the 100th anniversary of the establishment of the State.

The Prime Minister mentioned that the 10th Plenum of the Central Committee recently discussed directional breakthroughs for national development, including institutional breakthroughs, revitalizing old growth drivers, and promoting new ones based on scientific and technological applications and innovations. He also highlighted the construction of strategic infrastructure projects, such as the high-speed railway on the North-South axis, as symbols of the country’s development. Additionally, he mentioned social security programs, such as eliminating temporary and dilapidated houses nationwide by 2025 and striving for zero poverty by 2030, along with initiatives to address climate change, such as population rearrangement and relocation in areas prone to flash floods and landslides and responding to saltwater intrusion, subsidence, and erosion in the Mekong Delta region.

Prime Minister Chinh asserted that the country is experiencing a new wave of development, and private enterprises have a vision and mission to contribute to this progress. He encouraged them to continue pioneering innovation and implementing strategic breakthroughs, including legal and institutional improvements, to build a socialist-oriented market economy. He expressed his desire for the nation and its people to move forward together, achieving rapid and sustainable development.

At the meeting, Ms. Nguyen Thi Phuong Thao, Chairman of the Board of Directors of Sovico Group, provided an overview of the group’s diverse business portfolio, which includes banking, aviation, urban development, vocational training, and technology and digital transformation. With over 40,000 employees and two listed companies, Sovico has a market capitalization of nearly USD 6 billion.

The businesswoman affirmed the unlimited capabilities and initiatives of Vietnamese corporations and expressed her hope that the Prime Minister would have faith in private enterprises. She advocated for the creation of favorable regulations, laws, mechanisms, and environments to foster the development of national private enterprises and establish strong domestic and international brands. These enterprises can then serve as pioneers, driving the growth of small and medium-sized enterprises, the agricultural sector, rural areas, and startup companies.

She emphasized the importance of promoting education, training, scientific research, and technological innovation, particularly vocational training and enhancing labor productivity. She also requested support and mechanisms to enable Vietjet to proactively invest in building a strong Vietnam-based airline. Ms. Thao applauded the e-visa policy, which has been instrumental in attracting international tourists, traders, and investors to Vietnam. She shared her dream of Vietnam becoming a regional and global aviation hub and a driving force for growth in the industry, as well as a center for passenger and cargo transportation, aviation training, and aircraft maintenance and repair.