Transparent Bidding and Prioritizing Vietnamese Products for Major Projects: A Proposal by Hoa Phat Chairman

Tran Dinh Long, Chairman of the Board of Directors of Hoa Phat Group Joint Stock Company, stated:

“With domestically produced products meeting demand, we urge state-funded projects and investment programs to prioritize local goods. This supports Vietnamese businesses and aligns with the ‘Vietnamese People Prioritize Vietnamese Goods’ initiative.”

“Domestic enterprises are actively investing and expanding production, ready to participate in national programs like social housing, infrastructure, and worker/student accommodations. We urge the Government to implement transparent bidding and procurement mechanisms that favor Vietnamese products, fostering sustainable business growth.”

According to Mr. Long, the European Union recently increased steel import tariffs from 25% to 50% to protect domestic production. This directly impacts Vietnam’s steel exports. He urges the Government to implement flexible, timely policies to safeguard domestic manufacturing.

Mr. Long also requests that when businesses submit proposals, the Government and ministries should expedite reviews to avoid missing development opportunities.

“The Government and Prime Minister have been proactive, with ministries working efficiently. However, we urge faster implementation of Resolution No. 68-NQ/TW dated May 4, 2025, on private sector development, as time is critical in today’s competitive environment.”

At the conference, Le Ngoc Son, CEO of the Vietnam National Oil and Gas Group (Petrovietnam), proposed that the Government advise the Politburo to issue a new resolution on state-owned enterprise (SOE) and state economic development. This aims to remove institutional barriers, enabling SOEs to achieve breakthrough growth.

“Timely policy reforms will significantly boost enterprises, particularly SOEs, driving innovation and sustainable development.”

Mr. Son emphasized that Vietnamese businesses are key drivers of the economy.

Nguyen Anh Tuan, CEO of Vietnam Electricity (EVN), shared EVN’s ambitious goals by 2030 to become a global leader.

On August 20, 2025, the Politburo issued Resolution No. 70-NQ/TW, outlining Vietnam’s energy strategy until 2030 with a vision to 2045. It emphasizes the state’s role in creating breakthrough policies and controlling strategic energy infrastructure, with citizens and businesses as central to national energy development. State-owned enterprises lead, while the private sector is a key driver. Energy security is vital for national development.

Energy development is prioritized to meet over 10% growth, achieving the nation’s centennial goals. This presents significant challenges for the electricity sector.

Proposal for a Digital Bank for SMEs

At the conference, Nguyen Van Than, Chairman of the Vietnam Association of Small and Medium Enterprises (VINASME), proposed establishing a digital bank for SMEs.

Mr. Than noted that this model, successful in many countries, provides practical solutions for SMEs and households struggling to access traditional bank financing.

He also urged policies to develop second-generation entrepreneurs (F2) and fast-growing tech companies.

“VINASME is ready to lead F2 entrepreneurs if the Prime Minister trusts us. By 2045, we aim for a per capita income of $22,000–$25,000 and a 20 cm height increase for our children. F2 entrepreneurs are crucial for this vision.”

Regarding real estate, Mr. Than proposed expanding supply and demand, suggesting a 10–20% land use fee on property sales to unlock stagnant market resources.

On Vietnamese Entrepreneurs’ Day (October 13), Prime Minister Pham Minh Chinh chaired a meeting with 270 business leaders. Deputy Prime Ministers Nguyen Hoa Binh and Ho Duc Phoc, along with ministry representatives, attended.

The Prime Minister awarded the Third-Class Labor Order to three units, while Deputy Prime Ministers presented Government Emulation Flags and Prime Minister’s Certificates of Merit to five and eight units, respectively.