On the afternoon of October 10th, Prime Minister Pham Minh Chinh attended the first Private Economic Panorama program (ViPEL 2025). This initiative brings together core businesses across various scales and sectors to create an action-oriented ecosystem aimed at mastering the core capabilities of the national economy.
Prime Minister Pham Minh Chinh at the Private Economic Panorama program. Photo: Nhu Y.
Establishing an Alliance of Auxiliary Manufacturers
During the event, Mrs. Nguyen Thi Phuong Thao, Chairwoman of Sovico’s Board of Directors, emphasized that Vietnam is on the cusp of innovation, with opportunities to deeply integrate into the global value chain from design to packaging and testing. “Vietnam’s moment has arrived. If we dare to act and move swiftly, we can become Asia’s innovation hub,” Mrs. Thao stated.
According to Mrs. Thao, global technological trends such as AI, semiconductors, drones, fintech, and digital assets are opening significant opportunities for Vietnam’s emerging market. To capitalize on these opportunities, the Sovico Chairwoman called for meaningful collaboration between the government, businesses, and society.
In this spirit, Mrs. Thao proposed selecting “leading” enterprises in each niche to standardize processes, ensure quality, and place orders for the ecosystem. Additionally, she advocated for developing national infrastructure for data and experimentation to reduce initial costs, making it easier for businesses to access resources, accelerate trial-and-error processes, and shorten time-to-market.
Mrs. Nguyen Thi Phuong Thao, Chairwoman of Sovico’s Board of Directors, speaking at the program. Photo: Nhu Y.
On the government’s side, she urged the design of public-private coordination mechanisms to resolve bottlenecks and commit resources, as well as the establishment of legal frameworks and sandboxes to fund R&D. “With a proactive government, pioneering businesses, and societal collaboration, we will create a confident, leading Vietnam,” billionaire Nguyen Thi Phuong Thao emphasized.
Mr. Vu Van Tien, Chairman of Geleximco’s Board of Directors, also noted that while Vietnam’s opportunities are vast, they come with challenges, particularly in the manufacturing sector. He observed that much of the value-added in this sector remains overseas, with limited localization and domestic businesses primarily engaged in assembly and processing.
To address this, Mr. Tien proposed establishing an alliance of Vietnamese auxiliary manufacturers. This alliance would include domestic and foreign-invested enterprises, research institutions, and schools collaborating on production, R&D, and digital-green transformation. The goal is to increase localization rates, control supply chains, share resources, and reduce costs.
Addressing the gathered entrepreneurs, the Chairman of Geleximco’s Board of Directors advised, “Entrepreneurs must have ambition; without it, nothing can be achieved. Moreover, they must contribute to nation-building. Resolution 68 has opened the door wide, and businesses must seize this opportunity to create products that contribute to the nation,” Mr. Tien said.
“3 Pioneers,” “2 Strengths” for the Entrepreneur Community
Speaking at the program, Prime Minister Pham Minh Chinh expressed joy at the “action-oriented” spirit of Group IV and entrepreneurs, who swiftly implemented the “Vietnam Private Economic Panorama 2025” program. According to the Prime Minister, Vietnam’s private sector has affirmed its role as a key driver of the economy.
Prime Minister Pham Minh Chinh speaking at the program. Photo: Nhu Y.
In a context of intertwined opportunities and challenges, the Prime Minister urged the private business community to embrace “3 Pioneers” and “2 Strengths.”
First, the Prime Minister called on private enterprises to pioneer in achieving the nation’s 100-year strategic goals, aligning their objectives with those of the country.
Second, he encouraged businesses to lead in patriotic movements, ensuring that each enterprise and entrepreneur creates at least one innovative product annually, incorporating high levels of science and technology, to contribute to the nation’s prosperity.
Third, the Prime Minister urged entrepreneurs to champion social equality, fairness, and progress, ensuring no one is left behind in social welfare efforts.
Prime Minister Pham Minh Chinh launching the Alliance of Vietnamese Auxiliary Manufacturers. Photo: Nhu Y.
Regarding the “2 Strengths,” the Prime Minister first encouraged entrepreneurs to surpass themselves and their limitations to grow faster and stronger. “The greater the pressure, the greater the effort. I urge entrepreneurs to strengthen themselves to advance into science and technology, digital transformation, and green development,” he said.
The second “strength” the Prime Minister emphasized is for entrepreneurs to grow in international integration, competing fairly and rising within the regional value chain. “To grow strong, one must think big, aim high, and reach far,” the Prime Minister added.
In this spirit, the government leader called on entrepreneurs and businesses to embody “Unity – Discipline – Innovation – Prosperity – Development – Sustainability,” further enhancing their pioneering role in innovation, creativity, and connectivity. This will not only enrich their businesses and industries but also contribute to societal and national wealth, while supporting the people.
The Prime Minister gifted the conference and entrepreneurs with 20 words: “Proactive State – Pioneering Entrepreneurs – Public-Private Partnership, Strong Nation – Happy People.”
Prime Minister Directs Key Solutions to Sustain Vietnam’s Stock Market Growth
On October 8, 2025, Prime Minister Phạm Minh Chính signed Directive No. 192/CĐ-TTg regarding the upgrading of Vietnam’s stock market. The directive acknowledges the securities industry’s concerted efforts to implement reforms aimed at fostering a transparent, modern, and efficient market aligned with international standards.
Prime Minister Requests Hanoi, Ho Chi Minh City, Da Nang, Khanh Hoa, and Tay Ninh to Submit Reports by October 15
The Prime Minister has mandated that relevant ministries, along with five key provinces—Hanoi, Ho Chi Minh City, Da Nang, Khanh Hoa, and Tay Ninh—conduct a thorough review of stalled and prolonged projects. All identified initiatives must be finalized and completed by October 15.
Prime Minister Chairs Meeting to Resolve Bottlenecks and Delays in Pending Projects
On the evening of October 6th, Prime Minister Pham Minh Chinh chaired a meeting at the Government Office. The session brought together the Government’s Standing Committee, ministries, sectors, and localities to address challenges and bottlenecks hindering long-stalled projects. This initiative aligns with the conclusions of the Politburo, resolutions of the National Assembly, and relevant Government decrees.
Prime Minister Chairs Online Government-Locality Conference
On the morning of October 5th, Prime Minister Pham Minh Chinh chaired the Government’s online conference with local authorities for September 2025, addressing several critical topics.
Prime Minister Orders Resolution for Nearly 3,000 Stalled Projects Following Politburo Approval
On the morning of October 5th, during the regular September 2025 government meeting, Prime Minister Pham Minh Chinh outlined key tasks and solutions for the government to implement in the coming period. He also assigned specific tasks and measures to ministries, sectors, and localities.
