The Prime Minister engages in discussions with representatives of private corporations on the sidelines of the Conference – Photo: VGP/Nhat Bac |
According to Mr. Dang Minh Truong, Chairman of Sun Group, there is a need to institutionalize the selection of strategic investors by assigning tasks to private enterprises capable of executing pivotal projects that drive socio-economic development. Accompanying this selection mechanism should be corresponding special mechanisms.
“For a project that goes through a bidding or auction process, it takes a significant amount of time, 2-3 years, or even longer. However, when it comes to large-scale projects that serve as catalysts for economic growth, only a handful of businesses possess the capacity to undertake them. Ultimately, we would be the preferred choice, but at the cost of considerable time, expenses, opportunities, and financial resources,” Mr. Truong illustrated with an example.
 Mr. Dang Minh Truong, Chairman of Sun Group, puts forward his recommendations at the Conference – Photo: VGP/Nhat Bac |
Concurrently, the Chairman of Sun Group also proposed considering the implementation of a free-trade model in areas with high potential for marine and island tourism, such as Phu Quoc, to bolster investment attraction.
“These models are prevalent globally, including Hainan Island (China) and Jeju Island (South Korea). Despite its renowned reputation, Phu Quoc has not received commensurate publicity and promotion. By adopting a distinctive mechanism akin to a free-trade economic model, Phu Quoc is destined to emerge as a novel tourist and resort destination on the global stage,” asserted Mr. Truong.
With regards to mechanisms targeting the international tourist market, Mr. Truong suggested that ministries and sectors should follow through on the Prime Minister’s directive to expand the unilateral visa waiver program and pilot short-term visa exemptions for tourists from sizable markets with high spending power. He also recommended granting long-term visas with multiple entries for travelers from India, China, the United States, and Europe.
Enhancing Decentralization and Devolution
Mr. Vu Van Tien, Chairman of Geleximco Group, proposed strengthening decentralization and devolution in investment project authorization.
Sharing a similar perspective, Ms. Nguyen Thi Mai Thanh, Chairwoman of Ree Group (REE), suggested that the Government should delegate the authority to grant investment proposals to the provincial level, as they possess a profound understanding of the capabilities and reputations of individual investors and enterprises.
Additionally, Ms. Mai Thanh advised that the Government direct ministries and sectors to formulate appropriate tax exemption and reduction policies for enterprises and investors.
Representatives of private corporations in attendance at the Conference – Photo: VGP/Nhat Bac |
Elevating Export Value in Terms of Quality
During the Conference, a representative of the Masan Group (MSN) proposed enhancing the export value of Vietnam. He asserted that while export value in Vietnam has been thriving in recent times, the focus should now shift towards qualitative growth rather than merely quantitative expansion.
On the international stage, Vietnamese cuisine is ranked as the 5th most favored among the Top 10 renowned cuisines worldwide.
To disseminate Vietnam’s culinary culture, augment competitive advantages, and introduce Vietnam’s culture to the global arena, the Masan Group recommended that the Government devise a roadmap and strategy for the nation’s culinary globalization. This entails establishing a culinary brand image and cultivating culinary ambassadors for Vietnam, thereby engaging in cultural diplomacy to elevate Vietnamese cuisine to the standards of its regional and global counterparts.
Furthermore, Masan also proposed that the Ministry of Foreign Affairs and the Ministry of Industry and Trade devise a project to create a comprehensive information portal and guidelines on technical standards applicable during trade promotions in foreign countries. This would enable Vietnamese enterprises to effortlessly seek pertinent information and navigate the process of exporting overseas.
Dong Tu
The Power of Collaboration: Leading Enterprises Unite for National Development
On the morning of September 21, Prime Minister Pham Minh Chinh chaired a conference at the Government Headquarters. The meeting was attended by members of the Government Standing Committee and prominent businesses to discuss solutions for socio-economic development in the country.
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## Meeting with Vietnam’s Top Business Leaders: Forging Strategies for National Economic Growth and Social Development
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The conference was graced by the presence of Vietnam’s esteemed Deputy Prime Ministers: Tran Hong Ha, Le Thanh Long, and Ho Duc Phoc. Also in attendance were leaders from various ministries, central agencies, and prominent Vietnamese businesses. These included well-known names such as VinGroup, Hoa Phat, Thaco, KN Holdings, SunGroup, T&T, Geleximco, Minh Phu, Masan, Sovico, TH, and Refrigeration Electrical Engineering (REE).
The First Time: Government Officials Meet with Top Private Sector Enterprises
This morning, September 21st, Prime Minister Pham Minh Chinh chaired a conference with large private enterprises to address challenges and promote their pioneering role in investing in major projects. The aim is to foster economic and social development, with the government taking an active part in facilitating these initiatives.
“A Call to Arms for Vietnam’s Business Giants: Minister Nguyen Chi Dung Urges Large Enterprises to Blaze a Trail for the Nation’s Economic Growth, Creating Opportunities for Smaller Businesses to Thrive.”
“It’s time we place greater missions on the shoulders of big businesses,” shared Minister of Planning and Investment Nguyen Chi Dung at the “Dien Hong Conference,” an event where the Prime Minister and businesses discussed the country’s significant issues.
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## Aiming High: Targeting a Top 100 Asian Ranking for 2-3 Vietnamese Banks by 2025
Prime Minister Pham Minh Chinh has instructed the banking system to implement a strategy of “6 increases, 6 decreases, 6 accelerations, and breakthroughs” to propel the country’s development forward. With this initiative, Vietnam aspires to have at least 2-3 commercial banks ranked among the top 100 strongest banks in the Asian region by the end of 2025.
