During globalisation, Vietnamese entrepreneurs are becoming a major driving force promoting economic development. They are being honoured by society and their contributions to economic development are increasing. This is both an honour and responsibility for entrepreneurs in this new age.
In a “flat world”, the elements of success spring not only from within one country, but also from the larger world. In the “Ten elements to flatten the world” by Thomas L. Friedman, the element for entrepreneurs is severe competition. They have to devote much time, effort and responsibility to make the world flat.
In order to win in the game, Vietnamese entrepreneurs have to depend on many elements, not simply individual effort and the socio-economic conditions of the country, but also on foreign market conditions and clever adaptation for every individual circumstance.
Vietnam’s economy is burgeoning and the number of Vietnamese young entrepreneurs is growing (currently, some 58 per cent of Vietnamese entrepreneurs are age 30-50), which is an advantage for long-term development. They can accept difficulties to step into the large playground, and quickly grasp new knowledge, demands and opportunities. In addition, the affirmation of corporate value in the global value chain, and long-term business strategies help raise the competitiveness of the enterprises.
Along with the great effort of the Vietnamese business class, the support of the state is an indispensable and decisive element in the success or failure of Vietnamese business at winning in global competition.
For a business, the first issue catching their attention is the market. In order to compete effectively, businesses need to have a safe market where the labour force, land and capital function as goods comply with market pressures, not the requirements of authorities. Enterprises have the right to freely and healthily compete, not depending on ownership models. A synchronous and consistent market mechanism, with input from businesses, will be the best condition for entrepreneurs to use their ability and intelligence to overcome the difficulties of long-term business development.
In order to have a consistent mechanism for the development of enterprises, the state still has to do many things. First, it must complete the policy and regulation system, establishing various kinds of markets and understanding the market operating mechanism. It is important to improve the investment environment and implement policies attracting investment and facilitating entrepreneurs doing business in accordance with current law.
Anh Tuan
Vietnamese
