Enterprises - the core driving force in creating a strong Vietnam

Doanh nghiệp - động lực nòng cốt kiến tạo Việt Nam hùng cường- Ảnh 1. — Deputy Minister of Finance Nguyen Duc Tam speaks at the Conference - Photo: VGP/Nhat Bac

Enterprise – the driving force of innovation and development journey

Deputy Minister of Finance Nguyen Duc Tam analyzed: Immediately after gaining independence, President Ho Chi Minh sent a letter to the Vietnamese industrial and commercial community, affirming the important role of entrepreneurs in the country's development. In the letter, he wrote: "National affairs and family affairs always go hand in hand. A prosperous national economy means the business of industrialists and merchants is prosperous." He emphasized that the industrial and commercial community must accompany the nation and the revolutionary cause of the Party.

Nearly 40 years ago, our country's economy faced numerous difficulties, with triple-digit inflation and half of the country's households being poor. The Doi Moi process initiated by the Party in 1986 opened the way for revival, especially the policy of shifting to a socialist-oriented market economy that created the foundation for the strong development of the business community.

If in the early 1990s, the whole country had only more than 5,000 enterprises, now the number has exceeded 970 thousand, along with about 30 thousand cooperatives and more than 5 million business households. This is the core force that creates material wealth, promotes growth, creates jobs, increases income for workers, contributes to hunger eradication, poverty reduction and social stability.

Doanh nghiệp - động lực nòng cốt kiến tạo Việt Nam hùng cường- Ảnh 2. — Business representatives attending the Conference - Photo: VGP/Nhat Bac

The Vietnamese business community has grown remarkably, inheriting the tradition of patriotism, self-reliance, and dedication to the nation. Some businesses have reached regional and global levels, affirming Vietnam's position in the international arena. At the same time, businesspeople are increasingly interested in building a business culture, professional ethics, and demonstrating social responsibility. In difficult times due to natural disasters and epidemics, businesses have always taken the lead in sharing and supporting the community.

The state-owned enterprise sector continues to play a leading role in many key industries and sectors, ensuring energy security, food security, and maintaining macroeconomic stability. FDI enterprises have become an important part of the economy, putting Vietnam in the top 15 countries in the world in attracting foreign investment. The private sector - the strongest driving force of the economy - has been forming many international corporations, pioneering in digital transformation and green transformation, making important contributions to solving major national problems.

These three business sectors are increasingly connected, forming a common strength, creating momentum for Vietnam to develop quickly and sustainably.

Doanh nghiệp - động lực nòng cốt kiến tạo Việt Nam hùng cường- Ảnh 3. — The Prime Minister awarded the First and Second Class Fatherland Protection Medals and the Second Class Labor Medal to four enterprises with outstanding achievements (Viettel Group, MB Bank, Army Corps 18 of the Ministry of National Defense and EVN Group) - Photo: VGP/Nhat Bac

Economic achievements and business contributions

According to the leader of the Ministry of Finance, in the first 8 months of 2025, Vietnam's economy continued to flourish thanks to the determination and efforts of the entire political system, people and business community. GDP in the first 6 months of the year reached 7.52%, the highest in nearly 20 years, making Vietnam the leading growth country in ASEAN and among the highest in the world.

Budget revenue in the first 7 months reached more than 80% of the estimate, up nearly 27.8% over the same period. The State has exempted, reduced, and extended more than 171.7 trillion VND in taxes, fees, and land rents to support production and business. Exports in the first 7 months reached 262.4 billion USD, with an estimated trade surplus of 10.2 billion USD. Total registered FDI capital reached nearly 24.1 billion USD, with realized capital of about 13.6 billion USD - a clear demonstration of investment attraction.

The two-level local government operates effectively, shifting strongly from administrative management to development creation. Industrial production recovers quickly, becoming the main driving force for growth. People and businesses' confidence increases; new investment and production and business expansion take place vigorously.

In the first 8 months of the year, the whole country had nearly 128,200 newly established enterprises and 73,855 business households, 80,800 enterprises returning to operation - the highest level ever. The startup wave spread strongly across the country.

The Politburo issued the "Quad Resolutions" (57, 68, 59, 66) as an important foundation and driving force to move the country forward, realizing the aspiration of becoming a developed, high-income country by 2045. The above encouraging results have great contributions from the business community.

However, there are still many difficulties: Most enterprises are small and medium-sized, with limited management and financial capacity, low labor productivity and competitiveness. Some institutional and business environment problems have not been completely resolved, leaving development potential untapped.

Doanh nghiệp - động lực nòng cốt kiến tạo Việt Nam hùng cường- Ảnh 4. — Chairman of the Central Committee of the Vietnam Fatherland Front and Deputy Prime Minister Nguyen Hoa Binh presented awards to outstanding businesses - Photo: VGP/Nhat Bac

Deputy Minister of Finance Nguyen Duc Tam commented: The world is experiencing profound changes in geopolitics, geo-economics, the shift of economic centers, the explosion of science and technology, and the challenges of climate change and energy security. This is both an opportunity and a challenge.

2025 is a particularly important year - the final year of the 5-year Plan 2021-2025, the year of preparing the foundation for the 10-year Strategy 2021-2030. This is also the year of many important events: the 95th anniversary of the founding of the Party, the 50th anniversary of the liberation of the South, the reunification of the country, the 80th anniversary of the founding of the Nation, and the holding of Party Congresses at all levels towards the 14th National Congress.

The government targets GDP growth of 8.3-8.5% for the entire year, creating a foundation for double-digit growth in the 2026-2030 period. To achieve this, total social investment capital needs to be at least 174 billion USD, and business growth must be higher than the general level.

Doanh nghiệp - động lực nòng cốt kiến tạo Việt Nam hùng cường- Ảnh 5. — Representatives of relevant ministries and branches at the Conference - Photo: VGP/Nhat Bac

The leaders of the Ministry of Finance believe that ministries, branches and localities need to continue to reform administrative procedures, improve institutions and create maximum convenience for production and business. It is necessary to innovate legal thinking in the direction of development creation, strongly shift from pre-inspection to post-inspection, and reduce unreasonable business conditions. At the same time, promote decentralization, increase disbursement of public investment capital, and use public investment to lead private investment.

Enterprises need to promote self-reliance, innovate production models, improve management, train human resources, apply technology, expand markets and participate in global value chains. State-owned enterprises must take the lead in technological innovation, market expansion and professional management. Private enterprises need to be flexible, creative and adapt to new circumstances. FDI enterprises need to strengthen links, transfer technology to Vietnamese enterprises, and build effective ecosystems. Large enterprises must pioneer in difficult fields, leading the trend of green, digital and sustainable development.

Associations need to continue to be a bridge between the Government and the business community, doing a good job of consulting and reviewing policies, contributing to building a united and strong business community.

General Secretary To Lam affirmed: "Whether our country can become a developed, high-income industrial country by 2045 depends on the responsibility of today's and future entrepreneurs and businesses."

"The Vietnamese business community and enterprises will continue to have the intelligence, courage, heart and capacity to continue writing glorious pages of history, accompanying the country on the journey of strong development," Deputy Minister Nguyen Duc Tam concluded, expressing his confidence.

List of awards

1. First Class Fatherland Protection Medal:

- Military Industry - Telecommunications Group, Ministry of National Defense;

- Military Commercial Joint Stock Bank, Ministry of National Defense.

II. Second Class Fatherland Protection Medal: 18th Army Corps, Ministry of National Defense

room.

III. Second Class Labor Medal: Vietnam Electricity Group;

IV. Certificate of Merit from the Prime Minister

1. Vietnam Airports Corporation, Ministry of Finance;

2. Vietnam Railway Corporation, Ministry of Finance;

3. Vietnam Tobacco Corporation, Ministry of Finance;

4. Northern Food Corporation, Ministry of Finance.