Affirming the role of entrepreneurs in the national economy
During nearly 40 years of renovation, the private economic sector in Vietnam has developed strongly, contributing greatly to GDP, creating jobs, promoting growth, innovation and international economic integration. However, the role of the private economic sector has never been affirmed as strongly as in Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo , when for the first time "the private economy was identified as the most important driving force of the national economy". Resolution 68-NQ/TW emphasized that the private economy has become "an important driving force of the socialist-oriented market economy".
This is a breakthrough in development thinking. From a position of being overlooked and even heavily prejudiced in previous years, the private economy is now placed on par with the state economy and collective economy, playing a core role in building an independent, self-reliant and deeply integrated economy. Not only does the Resolution acknowledge this, it also respects and nurtures the entrepreneurial spirit, affirming the role of entrepreneurs as “soldiers on the economic front”.
The Resolution affirms that entrepreneurs are the main force in economic creation. They are not only protected and supported, but also encouraged to participate in policy criticism and contribute to the planning and implementation of development strategies. This is a major step forward in awareness, placing trust in the intelligence, ethics and aspirations of the entrepreneurial team. Entrepreneurs are not simply economic people, but also play a central role in leading innovation, creating jobs and promoting social development.
Business ethics - survival in the new era
However, to truly fulfill that mission, entrepreneurs need to build and practice a solid system of ethical values. Because in an era where transparency, social responsibility and community trust have become the measure of success, business ethics is no longer a voluntary “choice”, but a vital factor for each business and the economy in general. In reality, financial fraud, scams, environmental destruction or violations of consumer rights not only cause losses to each business but also undermine social trust, causing consequences for the entire economy.
It is not now that the issue of business ethics and business culture has been mentioned. Since ancient times, our ancestors have had teachings for future generations such as: "Trust is more precious than gold"; "Once untrustworthy, ten thousand times untrustworthy" with the meaning that in business, trust must be put in the top position; "Hang a goat's head, sell dog meat" criticizes dishonest behavior in business; "Buy and sell willingly" meaning that in business, it is necessary to ensure the harmony of economic interests between producers and consumers; "Virtue is more precious than silver and gold/What good is a few dishonest people being rich"...
Currently, in July 2021, the Vietnam Association for the Development of Business Culture (VNABC) has officially announced the "Vietnam Business Culture Criteria Set" with 5 mandatory points and 19 evaluation criteria. It emphasizes requirements such as: no smuggling, no tax evasion; no production and trading of counterfeit goods, toxic products; no unpaid wages and social insurance of employees; no fraud, exploitation or harm to other organizations and individuals; no violation of the law. Enterprises must pass these conditions to be considered in the next round with assessments on sustainable business leadership; building and implementing corporate culture; rule of law; business ethics; social responsibility...
At that time, according to Mr. Ho Anh Tuan - Chairman of VNABC, the Vietnamese Business Culture Criteria Set was the first set of standards on business culture directed by the Prime Minister, with the participation of ministries and branches. The development process received intellectual contributions, enthusiasm and responsibility from ministries, branches, scientists , experts, businesses and the press.
In November 2023, when attending the 2023 Annual National Forum with the theme "Business Culture - Development and Integration Flow" organized by the Ministry of Culture, Sports and Tourism and VNABC, Minister of Culture, Sports and Tourism Nguyen Van Hung emphasized: "Building a team of Vietnamese entrepreneurs and enterprises must take ethics and business culture as the core".
According to Minister Nguyen Van Hung, in the current period, the country is facing opportunities and challenges intertwined from the multi-dimensional impacts of globalization and international integration. Faced with the opportunities and challenges, we have chosen to revive national culture; protect identity, promote the potential and strength of national culture in building corporate culture, business culture is the core. Approaching in this direction, business culture needs to clearly demonstrate the core identity of the enterprise; at the same time inherit and promote the unique cultural identity of the country and Vietnamese people, associated with prosperous, sustainable development, responsible to society; create a positive effect in the business community; promote the image of the country, culture and people of Vietnam in the process of international economic integration.
Building business ethics does not stop at the individual awareness factor but needs to be institutionalized into corporate culture. This spirit is being studied by the Ministry of Culture, Sports and Tourism in the Project "Ethical standards, business culture associated with national identity and approaching the quintessence of world business culture". This is one of the contents of Resolution No. 138/NQ-CP promulgating the Government's Action Plan to implement Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development...
Vietnamese entrepreneurs face the "integration problem"
That is the issue raised in the article “Promoting business ethics and culture” by Associate Professor Dr. Bui Hoai Son, Standing Member of the National Assembly’s Committee on Culture and Education. According to Associate Professor Dr. Bui Hoai Son, “In developed economies, business ethics and culture are always considered pillars. Look at Japan, a country famous for the concept of “Monozukuri” (art of crafting) which not only focuses on product quality, but is also associated with dedication, respect for customers and the environment.
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Or Germany, the European industrial powerhouse, where “Made in Germany” has become a global symbol of prestige, thanks in part to a business culture that puts social responsibility at the heart of it. In the US, corporations like Microsoft, Apple, and Google invest billions of dollars each year in charitable funds, community development, and sustainable brand image enhancement.
These lessons remind Vietnamese businesses that to step out into the ocean, they cannot only bring with them aspirations, but must also bring along standard values.
Resolution 68-NQ/TW dated May 4, 2025 established a set of criteria for evaluating private enterprises according to international standards: Compliance with the law, job creation, contribution to the state budget, participation in social security activities. This is not only a measure of success, but also a "passport" to help Vietnamese enterprises win the trust of the international market. Domestic success stories have proven that. Vinamilk with the campaign "1 million trees for Vietnam Fund", Vingroup with a series of non-profit education and health projects, TH True Milk with its commitment to green production, carbon emission reduction... are all vivid proof of the spirit of linking business with social responsibility.
However, in reality, there are still many challenges. According to the 2024 Economic Census, most small and medium-sized enterprises in Vietnam still underestimate the factors of ethics and business culture, focus on short-term profits, and lack sustainable strategies. This is the "Achilles heel" that hinders the growth of the private economic sector. Therefore, promoting business ethics cannot stop at just a call, but needs to become a social movement, a "new standard" that spreads from education, communication, to policy...".
According to Associate Professor Dr. Bui Hoai Son, Resolution 68-NQ/TW dated May 4, 2025 calls for the urgent introduction of entrepreneurship and business training programs into educational institutions, in order to soon form ethical business thinking among young people. This is extremely urgent. A generation of young entrepreneurs who are only good at getting rich but lack a sense of social responsibility and the courage to comply with the law cannot create a sustainable economy. On the contrary, a generation of entrepreneurs with the desire to rise up, connect with the community, and appreciate the value of labor and creativity will be the ones to lead Vietnam to breakthroughs.
“Training employees on professional ethics, establishing a compliance management system, publicly reporting on social responsibility (CSR) reports, and applying environmental - social - governance (ESG) standards are gradually becoming essential requirements. This is also the way Japanese, Korean, European, and American enterprises affirm their position in the international market. When ethics and business culture become the foundation, Vietnamese enterprises will not only gain trust domestically, but can also step out into the world and become proud national brands...”, Associate Professor, Dr. Bui Hoai Son emphasized.
Source: https://baophapluat.vn/dao-duc-doanh-nhan-nen-mong-cho-mot-nen-kinh-te-ben-vung-post551045.html
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