Vietnamese businesses are entering an era of growth and expansion.

After 50 years of national reunification and nearly 40 years of reform, Vietnam is on its way to entering a new era, an era of prosperous development. In this development process, the business community and entrepreneurs are making increasingly significant contributions, demonstrating the nation's internal strength and power, and gradually expanding their reach globally.

Businesses exchange cooperation opportunities at an event organized by the Dong Nai Young Entrepreneurs Association in April 2025. Photo: V. The

Vietnamese businesses and entrepreneurs, including those in Dong Nai, are striving to adapt to development trends. Continuously innovating, learning to upgrade production and business capabilities, and fostering collaborative development are the paths businesses are currently pursuing.

Measures of national strength

Vietnam currently has nearly 1 million active businesses, approximately 14,400 cooperatives, and over 5 million business households with the potential to develop into businesses in the future.

Recognizing the crucial role of large enterprises as the core driving force behind the development of industries and the entire economy, the 13th National Congress of the Communist Party of Vietnam emphasized the task of "encouraging the formation and development of large, powerful private economic groups capable of regional and international competitiveness." Vietnamese businesses and entrepreneurs are present in almost all production and business sectors. Not only domestically, many enterprises have affirmed their brand value, reaching regional and global levels, contributing to enhancing Vietnam's position on the international stage, such as Viettel, PVN, Vingroup, FPT, Thaco , Hoa Phat, TH, Vinamilk, etc. Vietnam has also become a major export and import partner of many countries with strong economies around the world.

In March 2025, the Government established a Steering Committee for the Development of the Private Economy Project, chaired by Prime Minister Pham Minh Chinh. Accordingly, the Government and relevant ministries and agencies are urgently developing the project to submit it to the Politburo for promulgation. This will serve as a basis for promoting the strong development of the private economy and the Vietnamese business community in the coming period.

According to Prime Minister Pham Minh Chinh, the Vietnamese business community and enterprises have developed strongly in both quantity and quality; they are present in almost all industries and sectors and demonstrate responsibility towards the community and society. Some enterprises have developed to regional and global levels, contributing to enhancing Vietnam's position and prestige on the international stage.

Along with the rest of the country, the business community and enterprises in Dong Nai are growing stronger. From 1991 to the end of 2024, the province had over 56,000 businesses registered on the National Business Registration Portal. Many businesses originating from Dong Nai have gradually risen to become strong economic groups nationwide. Along with attracting foreign direct investment (FDI), Dong Nai has also issued many policies to promote the development of the business community, especially small and medium-sized enterprises (SMEs) and private enterprises. Five years ago (in 2020), Dong Nai developed a Project to Support Small and Medium-Sized Enterprises. The goal of Dong Nai is to implement comprehensively and effectively the support policies of the Government and the locality to enhance the competitiveness of businesses in the area. This will leverage the internal strengths of businesses, promote development in both quantity and quality, contribute to economic growth, and create jobs for people in the province.

According to Vice Chairman of the Provincial People's Committee Duong Minh Dung, Dong Nai's consistent stance is to value the role of businesses and entrepreneurs in the local development. The success of the business community is also the success of the locality. Dong Nai will implement solutions to attract businesses to increase investment in modern technology and future technologies for sustainable development and enhanced competitiveness.

Overcome limitations to rise strongly.

Despite significant growth towards reaching one million businesses and the emergence of powerful corporations expanding internationally, the Vietnamese economy remains fundamentally based on manufacturing and processing, with limited progress towards automation and digitalization. Vietnamese businesses have not yet truly established industrial linkages between the domestic and international markets, nor have they effectively led the industrial chains of FDI enterprises in Vietnam.

Chairman of the Dong Nai Business Federation, Dang Van Diem, expressed his desire for the locality to have more mechanisms and policies to help businesses access effective support services such as human resource training, updating legal systems, administrative procedures, land, capital, etc. At the same time, he hoped for conditions to be created for businesses in the province to participate in local projects and connect with domestic and foreign businesses to seek cooperation and development.

Truong Quoc Cuong, Director of Tuong Lai Co., Ltd. (Long Thanh district), shared that in order to participate in and integrate with the world, businesses cannot maintain old production mindsets but must continuously innovate and invest to meet the standards set by partners. To "grow," businesses must boldly innovate, but in this process, the efforts of businesses alone are not enough; a long-term strategy from management agencies is needed to provide appropriate support policies.

Similarly, Hung Vuong Construction Company Limited, thanks to investment in improving product quality with advanced machinery and technology, has gained a strong reputation in the region. A significant milestone for the company in 2024 was the inauguration of a factory producing prestressed reinforced concrete water pipes using American technology at its facility in Thanh Phu Industrial Park (Vinh Cuu district), with an investment of 300 billion VND. This is the first factory in Vietnam specializing in the production of prestressed reinforced concrete water pipes with diameters ranging from 1,000 mm to 6,000 mm.

According to Mr. Dinh Cong Tuan, Chairman of the Board of Directors of Hung Vuong Construction Company Limited, the company has been developing for 32 years with more than 2,000 employees. The company has been honored with the First Class Labor Medal. The application of new technologies in production has helped Hung Vuong improve productivity, product quality, and reduce costs. The company is committed to providing products that meet international standards, ensuring efficiency, sustainability, and environmental friendliness.

Chairman of the Board of Directors of Thanh Thanh Cong Group, Dang Van Thanh, shared that regarding the mindset of businesses in the new era, the State has devoted considerable time to perfecting the legal system, ensuring it is not only appropriate but also compatible with the integration process of the Vietnamese economy. The current generation of entrepreneurs, especially young entrepreneurs, have many opportunities to integrate into the international economy. The world is also in the digital age, so businesses need to prioritize management and operations based on technology and techniques. To thrive, businesses need to build clear development roadmaps and strategies, gradually improve management, control, and operation professionally, and accumulate valuable experience.

King

Source: https://baodongnai.com.vn/kinh-te/202504/doanh-nghiep-viet-buoc-vao-ky-nguyen-vuon-minh-12d412d/