Business community creates momentum for a strong nation

DNVN - According to Deputy Minister of Finance Nguyen Duc Tam, the connection of the three sectors of state-owned enterprises, FDI and private sector has created a combined strength, which is the driving force for Vietnam to develop rapidly, sustainably and rise up to become strong in the new era.

On the afternoon of August 30, Prime Minister Pham Minh Chinh chaired a meeting with businesses with the theme "80 years of businesses accompanying the country".

At the event, Deputy Minister of Finance Nguyen Duc Tam emphasized that right after the August Revolution, President Ho Chi Minh affirmed that "national affairs and family affairs always go hand in hand", laying the foundation for the close connection between the business community and the cause of national development.

Prime Minister Pham Minh Chinh meets with the business community. (Photo: VPG)

If in the early 1990s, the whole country had only more than 5,000 enterprises, now Vietnam has nearly 970,000 operating enterprises, about 30,000 cooperatives and over 5 million business households. In the first 8 months of 2025 alone, the whole country had 128,200 newly established enterprises and 73,855 business households, along with more than 80,800 enterprises returning to operation - a record high. This is the force that creates more than 60% of GDP, contributes nearly 70% of total state budget revenue, and creates jobs for tens of millions of workers.

All three business sectors – state-owned enterprises, foreign-invested enterprises (FDI) and private enterprises – have made outstanding contributions. State-owned enterprises play a leading role in many key sectors and areas, ensuring energy security, food security, macroeconomic stability, and paving the way for the country’s difficult and strategic tasks.

FDI enterprises are an important component, encouraged to develop long-term, cooperate and compete healthily. Vietnam has become a safe and attractive destination, among the top 15 countries attracting the largest foreign investment capital in the world.

Private enterprises are the most important driving force of the economy, with strong progress, spreading the spirit of entrepreneurship, forming regional and international corporations, pioneering digital transformation, green transformation, solving major national problems.

Deputy Minister of Finance Nguyen Duc Tam emphasized the role of the three sectors: state-owned enterprises, FDI and private sector. (Photo: VPG)

"The connection of these three regions has created a combined strength, which is the driving force for Vietnam to develop rapidly, sustainably, and become strong," Deputy Minister Nguyen Duc Tam affirmed.

Thanks to the support of the business community, Vietnam's economy in the first 6 months of the year achieved a GDP growth rate of 7.52% - the highest in nearly 20 years, leading ASEAN and among the fastest growing groups in the world. Exports in the first 7 months reached 262.4 billion USD, trade surplus was estimated at 10.2 billion USD; budget revenue exceeded 80% of the estimate, at the same time the Government exempted, reduced, and extended about 171.7 trillion VND in taxes, fees, and land rents to support businesses.

People and businesses' confidence in economic growth prospects is increasing, reflected in a strong wave of startups: in the first 8 months of the year, the whole country is estimated to have nearly 128,200 enterprises, 73,855 newly established business households and 80,800 enterprises returning to operation - the highest level ever.

These results have great contributions from the business community, along with 4 important Resolutions of the Politburo (57, 68, 59, 66) have created a set of four pillars, a solid foundation for Vietnam to move forward to a new era, realizing the vision of a developed, high-income country by 2045.

However, according to Deputy Minister Nguyen Duc Tam, most Vietnamese enterprises are still small and medium-sized, with limitations in capital, management, technology and productivity. The ability to participate in the global value chain is still limited; there are still barriers in the business environment that need to be removed.

The Prime Minister set a target of 8.3-8.5% GDP growth for the whole year of 2025, laying the foundation for double-digit growth in the 2026-2030 period. The Government is committed to continuing to improve the investment environment, reduce procedures, promote infrastructure, disburse public investment capital, and support businesses in digital transformation, green transformation, and sustainable development.

According to Deputy Minister Nguyen Duc Tam, to achieve development goals, the Government and localities need to focus on improving the investment environment, reforming administrative procedures, and promoting public investment to lead private investment, developing digital and green infrastructure. On the business side, it is necessary to promote the spirit of self-reliance, innovate production models, improve management capacity, and apply technology to reach out to the global value chain. Associations play a bridging role, supporting businesses and providing policy advice to build a strong business community.

"The future of Vietnamese entrepreneurs is promising but also full of challenges. Advances in new technologies, along with a constantly improving business environment, will create new opportunities for businesses to develop. The business sector will play an even more important role in the prosperity of the country, as General Secretary To Lam affirmed: "Whether our country can become a developed industrial country with high income by 2045 depends on the responsibility of today's and future entrepreneurs and businesses", Deputy Minister Nguyen Duc Tam emphasized.

Moonlight

Source: https://doanhnghiepvn.vn/doanh-nhan/cong-dong-doanh-nghiep-tao-dong-luc-de-quoc-gia-hung-cuong/20250830044117609