How are Vingroup, Hoa Phat, FPT, Thaco... responding to Resolution 68?

The responsibility of the leading birds of the private economy

Resolution No. 68 of the Politburo has just been issued with many new breakthroughs, removing many barriers for the development of the private economy. One of the important contents mentioned in the Resolution is the development of ethnic enterprises to promote the leading role, leading the development of small and medium enterprises.

One of the quantified goals of Resolution 68 is to have at least 20 large enterprises participating in the global value chain by 2030. To achieve this goal, the resolution sets out a set of solutions to quickly form and develop large and medium-sized enterprises and private economic groups of regional and global stature.

Accordingly, Resolution 68 clearly states the expansion of private enterprise participation in important national projects. The State proactively has policies for ordering, limited bidding or designated bidding or has preferential policies to encourage the private economic sector to participate with the State in strategic areas, key and important national scientific research projects and tasks such as high-speed railways, urban railways, spearhead industries, energy infrastructure, digital infrastructure, green transportation, defense and security industries.

The Politburo also stated that it is urgent to develop and implement the Program to develop 1,000 typical and pioneering enterprises in science and technology, innovation, digital transformation and green transformation, high-tech industry, and supporting industry.

In fact, right from the meeting with businesses at the beginning of the year, Prime Minister Pham Minh Chinh asked large businesses to participate in important national projects. The Prime Minister asked Truong Hai Group to research, transfer technology, produce train cars and move towards producing locomotives for high-speed railways, Hoa Phat Group to make high-speed railway rails, FPT Group to focus on training high-quality human resources, designing semiconductor chips, etc.

Prime Minister Pham Minh Chinh met with private businesses in February (Photo: VGP/Nhat Bac).

Vingroup and the mission of "planting the flag" in the world

Mr. Nguyen Viet Quang, General Director of Vingroup, once shared that, with the awareness that private enterprises are the driving force of the economy, in recent years, the enterprise has continuously made efforts to invest heavily in strategic areas such as energy infrastructure, green economy, digital economy, and supporting industries to contribute to realizing the vision of sustainable development.

For example, the VinFast project does not simply produce electric vehicles but also focuses on building a supporting industrial chain from battery production, charging stations to smart energy solutions.

Increasing the localization rate for VinFast electric vehicles is the key to sustainable development while strongly promoting domestic supporting industries. Especially with the goal of contributing to reducing emissions, VinFast plays a pioneering role in Vietnam's green transition wave, creating a close link between industrial development and environmental protection.

At the 2025 annual general meeting of shareholders at the end of April, Vingroup Chairman Pham Nhat Vuong emphasized VinFast's development strategy. He said VinFast has completed its goal of planting its flag in the world by setting foot in the US and many countries around the world.

"Our job is to plant a flag to let the world know that Vietnamese electric vehicles meet world standards," said the chairman of Vingroup.

In addition, billionaire Pham Nhat Vuong also emphasized the expansion of two more business pillars, Infrastructure and Energy, with billions of USD in capital, demonstrating Vingroup's philosophy of "doing it big".

Mr. Pham Nhat Vuong at Vingroup's Annual General Meeting of Shareholders (Photo: Linh Nguyen).

Accordingly, Vingroup has proposed to the Government to implement the Phu My Hung - Can Gio high-speed railway project and the Hanoi - Quang Ninh railway project. In addition, this enterprise has registered with State agencies to develop 22.5 GW of renewable energy and LNG by 2030.

He cited three reasons why Vingroup is participating in the electricity sector. First, the group wants to create a green ecosystem, electric vehicles will use environmentally friendly electricity, "green from start to finish". Second, the company wants to solve the lack of energy, especially green electricity. Finally, the company does these projects because it wants to contribute to the development of the country.

In 2025, Vingroup aims to achieve VND300,000 billion in annual revenue, an increase of 58.7% compared to the level achieved in 2024. The target after-tax profit is VND10,000 billion, an increase of 89.5%.

Hoa Phat and the pioneering mission of high-speed railway

Speaking at the 2025 annual general meeting of shareholders, Chairman of the Board of Directors of Hoa Phat Group Tran Dinh Long affirmed that the enterprise will always be in a position to move forward.

"The Group commits to maintaining a growth rate of no less than 15% per year in the 2025-2030 period, contributing positively to the overall development of the Vietnamese economy," Mr. Tran Dinh Long emphasized.

According to Mr. Tran Dinh Long, with its current capacity, Hoa Phat is aiming to produce high-quality steel, contributing to replacing imported goods. He affirmed that Hoa Phat is confident in its capacity to research and produce railway steel, steel for making train and high-speed train axles according to the Government's orders, as well as high-quality steel for key national projects and export to the world.

A positive sign is that the Ministry of Construction is submitting to the Government a mechanism for assigning orders and specific tasks to large enterprises, including Hoa Phat. When the Hoa Phat Dung Quat 2 Iron and Steel Complex project is completed, the group's steel production capacity can reach 15 million tons/year, expected to put the enterprise in the top 30 largest steel enterprises in the world, according to Chairman Tran Dinh Long.

Dung Quat 2 is also the place where Hoa Phat has decided to implement a railway production project with an investment scale of 14,000 billion VND. According to the plan, the groundbreaking ceremony will take place next May and the first order is expected to be shipped in May 2027.

Mr. Tran Dinh Long at the Hoa Phat Shareholders' Meeting (Photo: MK).

In the coming years, Hoa Phat will focus on producing high-quality steel to serve end-use industries, including automobiles and railways. The company has been proactively approaching many enterprises in the automobile and transportation industry such as VinFast, Thanh Cong, Thaco and the Vietnam Railway industry.

This year, Hoa Phat targets revenue of VND170,000 billion and after-tax profit of VND15,000 billion, up 21% and 24.7% respectively compared to 2024. If the plan is completed, the group's revenue will reach a new record, and its profit will be the highest in 4 years.

FPT and the pioneering mission in the technology field

Resolution 68 clearly identifies the application of science and technology and the promotion of digital transformation as strategic directions for the private sector to improve productivity, reduce costs, increase competitiveness and expand access to capital.

The Politburo sets a clear goal that by 2030, Vietnam's technological level, capacity, innovation, and digital transformation will be among the top 3 countries in ASEAN and the top 5 countries in Asia.

Assigned by the Prime Minister to focus on training high-quality human resources and designing semiconductor chips, FPT Corporation is considered a leading bird in the technology field.

At the 2024 annual general meeting of shareholders, FPT Corporation Chairman Truong Gia Binh shared the 3-year strategy for 2025-2027, continuing to emphasize that technologies will reshape and rearrange the world.

"On the first day of 2025, when DeepSeek with its low-cost AI model created a global earthquake, I saw an unprecedented opportunity for Vietnam. We are behind but have the opportunity to affirm our pioneering position and explore new heights," said the FPT Chairman.

FPT's strategy will be led by artificial intelligence. The group will aim for four key goals such as developing the Made by FPT "AI assistant" system platform, improving productivity with AI at the core, integrating AI into all products and services, and developing AI human resources.

Mr. Truong Gia Binh committed to training 50,000 AI engineers, providing AI skills and knowledge to 500,000 workers by 2030.

FPT Chairman Truong Gia Binh shared at the General Meeting of Shareholders (Photo: FPT).

Other technology strategies that businesses will implement in the coming time also coincide with the orientation of Resolution 68 such as digital transformation and green transformation, semiconductor field with assembly and testing, automotive technology, and education.

Sharing about the technology sector, General Director Nguyen Van Khoa said that FPT will expand the AI ​​Factory model, aiming to become the world's leading AI infrastructure provider.

"The Group considers Resolution 57 a revolution in science and technology. Before, we talked a lot about the 4.0 revolution, now we talk about the Resolution 57 revolution, science and technology are the compass to develop the country. Building 57 revolutionary soldiers, building technology revolutionary soldiers, bringing Vietnam strategic products in science and technology. In the near future, there will be core technology products made by FPT", Mr. Khoa shared.

In 2025, FPT set a business plan for 2025 with a revenue target of VND 75,400 billion and pre-tax profit of VND 13,395 billion, up 20% and 21% respectively compared to 2024.

Thaco focuses on urban railway construction

Mr. Tran Ba ​​Duong - Chairman of Thaco Group - in his New Year's message stated that this year, the Government set an economic growth target of 8% along with many efforts and positive solutions. Due to the delay, the purchasing power of the economy is forecast to be the same as in 2024 and increase slightly in the last 6 months of the year.

During a recent working session with Thaco, the Prime Minister assigned the company key tasks in the coming time. These are to pioneer innovation; accelerate and make breakthroughs in growth; be inclusive, comprehensive and sustainable in development; actively promote digital transformation, green transformation, creative economy, ensure environmental safety and hygiene, be bright - green - clean - beautiful; and do better in social security work.

The Prime Minister also asked Thaco to research, transfer technology, and produce high-speed railway cars; at the same time, he expected the enterprise to contribute to achieving the growth target of 10% for Quang Nam and at least 8% for the whole country this year.

Thaco Chairman of the Board of Directors Tran Ba ​​Duong speaks at the conference (Photo: VGP).

Receiving the Prime Minister's "order", Thaco Chairman said the group will focus on participating in urban railway construction, especially train cars and steel components.

Mr. Tran Ba ​​Duong affirmed that with a team of engineers as well as experience in product research and development, international cooperation, Thaco will have reasonable technology transfer, organize on-site production to reduce costs; at the same time, there will be the participation of Vietnamese enterprises, responsible for quality and cost issues.

"We will promote cooperation through large projects, helping small and medium-sized enterprises participate in the production chain, as well as linking to order steel manufactured according to product standards," Mr. Duong emphasized.

Other businesses are also starting to get started.

As one of the first two enterprises to list shares on the stock exchange, Refrigeration Electrical Engineering (stock code: REE) was led to develop into a multi-industry company with 3 main fields: Mechanical and electrical engineering; Commercial and office real estate; Renewable energy, clean water and environment.

Ms. Nguyen Thi Mai Thanh - General Director - said that the business environment in 2025 is very positive when the Government creates more legal conditions and wants to create more, the environment is very positive. Business results in the first quarter of the year are better than the same period, in which the electricity sector is positive, the water sector has changed although the selling price has not been increased.

REE's CEO has high hopes for the renewable energy sector. The company aims to reach a capacity of 5,000 MW by 2035, which means it will develop an additional 4,000 MW in the next 10 years.

Ms. Thanh emphasized that this expectation is well-founded, as the company will complete a 48 MW wind power plant this year. Another 30 MW hydropower plant is expected to be completed by the end of 2026. This year, REE will also bid and hope to win a 176 MW project, expected to generate electricity by the end of 2026.

In the real estate sector, at the door of a new growth cycle, many real estate giants are constantly making new decisions with long-term orientation.

Mr. Nguyen Xuan Quang - Chairman of Nam Long Investment Joint Stock Company (stock code: NLG) - expressed his steadfast stance with the vision to 2030, including developing livable integrated urban areas; expanding investment and developing land funds in Ho Chi Minh City and Hanoi; implementing a merger and acquisition (M&A) strategy to diversify the portfolio.

The company's board of directors also plans to increase profits by 1.2 times and sales by more than 3 times in the next 3 years. During that process, the company is accelerating the completion of legal procedures for many projects in Dong Nai and Hai Phong, and is expected to open for sale from the end of this year.

At Novaland, Mr. Bui Thanh Nhon - Chairman of the Board of Directors - shared that 2024 and 2025 will continue to be a period of turmoil but also open up opportunities for businesses with courage, good products and clear strategies. For Novaland, 2025 will be a turning point with a new strategy, opening up a housing segment for middle-income people. This strategy will not bring much profit but will be sustainable because there is a stable cash flow for Novaland and it follows the national development strategy.

According to Mr. Nhon, Novaland focuses on harmonizing three benefits: Enterprise, customers, and the country. Therefore, not only restructuring to survive, the group also aims for a new stage of development, integrating with the country's double-digit growth, and raising its position in the region.

Speaking more about the strategy of opening more housing segments for middle-income earners, Mr. Bui Thanh Nhon said that Novaland is asking for permission to convert two projects in Ho Chi Minh City into social housing and housing for middle-income earners.

This year, Novaland will focus on key goals including legal clearance, promoting construction and optimizing cash flow; streamlining governance and operations towards efficiency; comprehensive digital transformation, improving efficiency and gradually implementing ESG standards.

This year, Novaland has two business plan options with expected revenue growth of 15-48%. Option 1 with net revenue of VND13,411 billion, loss after tax of VND12 billion. Option 2 with net revenue of VND10,453 billion, loss after tax of VND688 billion. The key factor affecting Novaland's business results is still the progress of legal settlement of the project.

Source: https://dantri.com.vn/kinh-doanh/vingroup-hoa-phat-fpt-thaco-dang-huong-ung-nghi-quyet-68-ra-sao-20250507213546581.htm