Vietnamese Prime Minister Calls on Businesses and Entrepreneurs to Embrace the ‘Three Pioneers’ Spirit

On the afternoon of October 9th, at the Government Office, Prime Minister Pham Minh Chinh chaired a meeting with business representatives on the occasion of Vietnamese Entrepreneurs’ Day (October 13th).

Attending the meeting were Politburo member and Standing Deputy Prime Minister Nguyen Hoa Binh, Deputy Prime Minister Ho Duc Phoc, ministers and heads of ministerial-level agencies, leaders of ministries, sectors, and central agencies, leaders of business associations, and over 270 business representatives.

‘Wherever there is need or difficulty, there are entrepreneurs’

In his opening speech, Prime Minister Pham Minh Chinh emphasized that during these historic autumn days, alongside the nation’s confidence, enthusiasm, and development momentum, we also face numerous challenges and difficulties due to natural disasters and floods, which have caused severe damage to people’s lives and properties. On behalf of General Secretary To Lam and the Party and State leadership, and representing the Government, the Prime Minister expressed his sincere gratitude to businesses and philanthropists who have always stood alongside the nation and people during these trying times.

The Prime Minister noted that the country recently celebrated the 80th anniversary of the August Revolution’s success and National Day (September 2nd), as well as the 80th anniversary of the People’s Public Security Tradition Day. Eighty years ago, President Ho Chi Minh sent a letter to the business community (October 13th, 1945-2025). Since 2004, the Government has designated this day as “Vietnamese Entrepreneurs’ Day,” a special occasion for the entire society and nation to honor entrepreneurs and businesses. It also serves as a platform for businesses and entrepreneurs to exchange and share development experiences.

On the occasion of the 21st Vietnamese Entrepreneurs’ Day, the Government is delighted to meet with outstanding business representatives from across the country to acknowledge and honor the achievements and contributions of entrepreneurs and businesses to national development, especially during challenging times.

According to the Prime Minister, it is encouraging that the more pressure we face, the more resilient and mature our nation becomes. Over the past period, we have achieved month-on-month, quarter-on-quarter, and year-on-year growth, with this term expected to surpass the previous one. As a result, our economy has expanded, per capita income has increased, labor productivity has improved, and people’s material and spiritual lives have been enhanced, ensuring no one is left hungry, cold, or deprived. The business community has significantly contributed to these achievements and has grown stronger and more mature.

The Prime Minister highlighted several exemplary projects by Vietnamese businesses, such as the My Thuan 2 Bridge, which is larger, more beautiful, longer, and wider than My Thuan 1 but was completed faster and at a lower cost. Other notable projects include the Long Thanh Airport, expected to be completed by year-end, and the steel dome structures of the Vietnam Exhibition Center in Dong Anh, Hanoi, as well as significant achievements in agriculture.

The Prime Minister stressed the need to continue fostering self-confidence, pride, self-reliance, and independence to strive for greater heights, “reaching out to the open sea, delving deep into the earth, and soaring high into the sky.” This is a monumental task for the Party and the entire nation, with entrepreneurs playing a pioneering, core, and exemplary role.

To achieve this, it is essential to make breakthroughs in science and technology development, innovation, and digital transformation as outlined in Resolution 57 of the Politburo. We must also promote the role of the private sector as a key driver of the economy, as stated in Resolution 68 of the Politburo, alongside the state-owned sector’s leading role and the significant contribution of foreign-invested enterprises.

The Politburo has issued Resolution No. 41-NQ/TW dated October 10th, 2023, on building and promoting the role of the Vietnamese entrepreneur force in the new period, aiming for a large-scale, patriotic, self-reliant, and aspirational business community. The Prime Minister emphasized the need to create mechanisms that maximize the potential and creative contributions of entrepreneurs.

The Government, ministries, sectors, and localities are actively implementing policies to support business development and amending investment and business-related laws. Institutional reform is a strategic breakthrough but also a significant bottleneck, requiring efforts to transform institutions into a competitive advantage. This involves building a two-level local government and transitioning to a developmental administrative state that proactively serves the people and businesses.

Reviewing the socio-economic development tasks and results for 2025, the Prime Minister noted that we have achieved most targets, particularly in social welfare. The third-quarter GDP growth reached 8.22%, with a 7.84% increase in the first nine months compared to the same period last year. Inflation is under control, major economic balances are maintained, and we are on track to meet the annual GDP growth target of 8.3-8.5%.

As the nation prepares for the 14th National Party Congress with enthusiasm and new developmental momentum, the Prime Minister hopes the business community will create new energy and drive, contributing to the nation’s entry into a new era. He also urged businesses to stand firm, strive for high growth, and contribute to the national GDP target, fostering mutual development and shared prosperity.

The Prime Minister called on meeting participants to share their visions and actions and provide feedback to the Government on outstanding issues, emphasizing the spirit of entrepreneurs as pioneers: “Wherever there is need or difficulty, there are entrepreneurs, working together to turn nothing into something, challenges into opportunities, and the impossible into the possible.” Entrepreneurs must rise with the nation, developing rapidly and sustainably to achieve the centennial goals of safeguarding national independence and bringing happiness and prosperity to the people.

Active businesses surpass 1 million for the first time

According to reports and discussions at the meeting, the Party and State have continued to focus on developing Vietnamese businesses and entrepreneurs. Notably, the Politburo’s Resolution 68-NQ/TW in 2025 on private sector development has significantly motivated and driven Vietnamese businesses and entrepreneurs.

From May 2025 onwards, an average of nearly 19,000 new businesses were established monthly, with June setting a record of over 24,000 newly registered businesses, a 48% increase compared to the first five months’ average (12,907 businesses/month). As of October 5th, 2025, the number of active businesses nationwide exceeded 1 million for the first time in history.

In the first nine months of 2025, 231,337 businesses entered or re-entered the market, a 26.41% increase compared to the same period in 2024 and nearly 1.2 times the 2020-2024 average (199,697 businesses). In the third quarter of 2025 alone, 97,347 businesses entered or re-entered the market, over 54% more than in the same period in 2024.

Many Vietnamese businesses and brands have expanded regionally and globally, including the Vietnam National Oil and Gas Group, Vietnam Electricity, Viettel Group, Vinamilk, Vingroup, Hoa Phat Group, FPT, Truong Hai Group, and TH Group. Vietnamese businesses have undertaken large-scale, technically complex, and modern projects, often with shorter timelines and reduced costs.

Vietnamese entrepreneurs and businesses have actively contributed to the nation’s socio-economic development, helping stabilize the macroeconomy, promote growth, and ensure major economic balances. Nine-month GDP growth reached 7.84%, with state budget revenue of 1.92 trillion VND, 97.9% of the estimate and 30.5% higher than the same period last year. Total import-export turnover was 680.66 billion USD, up 17.3%, with a trade surplus of 16.82 billion USD.

At the meeting, business representatives thanked the Party, State, Government, and Prime Minister for their support and enabling environment, which has allowed Vietnamese businesses and entrepreneurs to thrive. They expressed confidence and aspirations for the new era, committing to enhancing competitiveness, partnering with the Government in national development, and leading in digital transformation, innovation, green economy, and knowledge-based economy to achieve rapid and sustainable growth.

Vietnamese businesses proposed that the Politburo soon issue a resolution on state-owned enterprise development and further implement Resolution 68 on private sector development by assigning tasks to private businesses and establishing mechanisms for private sector engagement. They also urged the resolution of lingering issues to ensure a stable business environment and called for a more proactive and business-friendly administrative approach.

‘Reaching out to the open sea, delving deep into the earth, and soaring high into the sky’

In his concluding remarks, Prime Minister Pham Minh Chinh recalled that the meeting commemorated the 80th anniversary of President Ho Chi Minh’s letter to entrepreneurs on October 13th, 1945, which conveyed a message of unity, love, and mutual support. It is a source of pride that Vietnamese entrepreneurs and businesses have upheld this spirit over the past eight decades.

Once again, on behalf of General Secretary To Lam and the Party and State leadership, the Prime Minister expressed gratitude and appreciation for the contributions of Vietnamese entrepreneurs and businesses to national construction and defense over the past 80 years.

Given the rapidly changing, complex, and unpredictable global and regional situation, the Prime Minister urged businesses and entrepreneurs to continue standing alongside the nation and people to overcome challenges and achieve rapid and sustainable development.

The Prime Minister affirmed the Government’s commitment to supporting businesses and entrepreneurs through developmental, transparent, and action-oriented governance, serving the people, including businesses and entrepreneurs.

The Prime Minister expressed five expectations for businesses and entrepreneurs:

First, businesses and entrepreneurs should remain loyal to the Party, whose sole objective is to ensure national independence and bring happiness and prosperity to the people, including entrepreneurs.

Second, they should promote the spirit of national unity, both within the business community and with the broader society and international partners.

Third, they should combine the strength of businesses, entrepreneurs, and the people into a unified national force, merging domestic and international strengths to develop the country.

Fourth, they should stand alongside the nation, upholding national independence and advancing towards socialism to bring happiness and prosperity to the people.

Fifth, they should contribute to the collective strength of the nation, as “the people make history,” with businesses and entrepreneurs playing a vital role.

The Government leader also called on businesses and entrepreneurs to take the lead in three key areas:

First, they should pioneer science and technology, innovation, and digital transformation, focusing on strategic and core technologies to drive nationwide innovation and build a digital nation.

Second, they should lead in lawful business practices, contributing effectively to the construction of a socialist rule-of-law state.

Third, they should spearhead the implementation of Resolution 68, recognizing the private sector as a key driver of the economy, and contribute to building a market economy with a socialist orientation under the Party’s leadership, state management, and people’s ownership.

“With these three pioneering roles, we will together explore new development spaces, reach out to the open sea, delve deep into the earth, and soar high into the sky, ensuring our nation’s rapid and sustainable development, steady progress towards socialism, and entry into a new era of prosperity, civilization, and happiness,” the Prime Minister emphasized.

To achieve these ambitious yet practical goals, the Prime Minister welcomed suggestions from meeting participants and pledged to study, absorb, and implement them through institutional reforms, infrastructure development, and smart governance. He stressed the urgency of creating a transparent institutional environment, developing comprehensive infrastructure, and adopting intelligent governance practices.

“If institutions are not transparent, we must make them transparent; without comprehensive infrastructure, development is impossible; and governance must be intelligent—there is no other way,” the Government leader concluded.

During the meeting, Prime Minister Pham Minh Chinh and Deputy Prime Ministers awarded various honors from the Party, State, Government, and Prime Minister to outstanding entrepreneurs and businesses for their exceptional achievements.