On September 21, Prime Minister Pham Minh Chinh chaired a conference of the Government’s Standing Committee, working with leading businesses on contributing to the country’s socio-economic development.
The conference gathered Deputy Prime Ministers Tran Hong Ha, Le Thanh Long, and Ho Duc Phoc; leaders of ministries, sectors, and central agencies; along with billionaires from Vingroup, Hoa Phat, Thaco, KN Holdings, Sun Group, T&T Group, Geleximco, Minh Phu, Masan, Sovico, TH Group, and Refrigeration Electrical Engineering (REE).
Minister of Planning and Investment Nguyen Chi Dung referred to this event as a “Dien Hong Conference” for the private sector, where the government and businesses could discuss significant issues concerning the nation, including the role of large enterprises. For the business representatives, it was a rare occasion to have Mr. Pham Nhat Vuong, Chairman of Vingroup, present and voice his proposals.
At the conference, Ms. Nguyen Thi Phuong Thao – Chairman of Sovico Group – expressed her hope that the Prime Minister would trust private enterprises and create favorable conditions, regulations, and laws to foster the formation of strong private economic groups with national and international reputation, leading and promoting small and medium-sized enterprises, the agricultural sector, rural areas, and startups.
Photo: VOTV
The VietJet billionaire also wished for the government to facilitate mechanisms for Vietnamese businesses to proactively invest in building a powerful fleet of aircraft with Vietnamese nationality, contributing to a strong and prosperous Vietnam.
Ms. Thao proposed that the government transform Vietnam into a regional and global aviation hub. Given its advantageous location, she suggested expediting investments to upgrade international airports to become prominent passenger and cargo transit centers, akin to Bangkok, Singapore, and South Korea. Vietjet has already facilitated passenger transfers from India and Kazakhstan through Vietnam to Australia and Indonesia.
Ms. Thao also revealed that Vietnamese businesses have started producing aircraft components. With substantial aircraft orders, Vietnam is poised to become a hub for aircraft component manufacturing and assembly, similar to China’s involvement in producing components for Boeing and assembling Airbus aircraft.
In the field of logistics, Mr. Tran Ba Duong – Chairman of Thaco – mentioned that the current volume of container cargo through Chu Lai Port is below expectations. The reason is that the port can only accommodate vessels with a capacity of 20,000 tons due to the suspension of construction of the Ky Ha channel since June 2022.
Thaco has submitted proposals to the Ministry of Transport, requesting approval for the company to undertake dredging works using its own capital. This includes a new channel project, the Cua Lo channel, which is still awaiting the government’s approval of the detailed planning for the group of seaports, ports, piers, buoys, water areas, and water areas for the period 2021-2030, with a vision towards 2050.
Regarding National Highway 14D, Mr. Tran Ba Duong affirmed its significance as a corridor for the East-West Economic Corridor, facilitating the transportation of goods for the southern provinces of Laos through central Vietnam. However, the road is currently in a state of disrepair and requires urgent attention. The Chairman of Thaco proposed that the Prime Minister instruct the Ministry of Transport to prioritize funding and expedite the progress of this project, aiming for completion by 2025.
According to reports, the private sector contributes 45% of GDP, 40% of total social investment capital, generates 85% of jobs, accounts for 35% of imports, and 25% of exports. Vietnam has also witnessed the emergence of private conglomerates that have expanded regionally and globally.
Speaking at the conference, the Prime Minister emphasized that the event demonstrated the Party and State leaders’ attention to the private sector 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 consistently underscored the importance of the private sector as “an important driving force of the economy.”
In the context of the pandemic, intense strategic competition, conflicts in many parts of the world, and disruptions in supply chains and production networks affecting the global and Vietnamese economies, businesses have played a crucial role in economic recovery and development. Vietnam’s GDP scale is currently ranked 34th globally, and the country has never had such a solid foundation, potential, position, and international prestige as it does today.
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