VCCI Strives to Raise Status of Vietnamese Entrepreneurs and Enterprises

10:07:10 AM | 10/10/2022

Throughout 59 years of development, the Vietnam Chamber of Commerce and Industry (VCCI), as a national representative of the business community, business associations, employers and Vietnamese entrepreneurs, has been striving to protect the legitimate rights and interests of enterprises and support the development of enterprises and entrepreneurs in the context that the country is working to improve national competitiveness and deeply integrate into the world economy.

Elevating the status of Vietnamese entrepreneurs

As a leading researcher of Ho Chi Minh's thoughts on enterprises and entrepreneurs, over the years, VCCI launched the message "Entrepreneurs - peacetime warriors" to encourage and inspire entrepreneurship in society, and to honor the “Outstanding Vietnamese Entrepreneurs”. In particular, VCCI actively proposed and joined the editing team of Resolution 09-NQTW of the Politburo on “Building and promoting the role of Vietnamese entrepreneurs in the accelerating period of industrialization, modernization and international integration”, which was issued on December 9, 2011. Resolution 09 is widely deployed by provinces, cities, industries, business associations and entrepreneurs throughout the country.

On the occasion of Vietnam Entrepreneurs Day, October 13, this year, VCCI launched the “Outstanding Vietnamese Entrepreneurs” program. This is an important content of the aforesaid resolution. After nine editions, 800 entrepreneurs have been honored, helping raise social awareness of entrepreneurs’ contributions to the country's economic development. They have supported the fight against the COVID-19 pandemic, eradicated poverty, addressed consequences of natural disasters, and become inspirational examples for the next generations and together formed a powerful force of Vietnamese entrepreneurs.

Up to now, Vietnamese entrepreneurs have continuously grown in both scale and quality. Currently, Vietnam has nearly 900,000 active companies, about 14,400 cooperatives and about 5.1 million business households. Many Vietnamese companies and businesspeople have managed to reach out to the international market. In addition, some large private firms with strong financial capacity, modern management and technology have taken the lead in important industries and fields such as automobile manufacturing, aviation, information technology, telecommunications, services, industry and agriculture. As the country strained to cope with the COVID-19 pandemic and adverse global impacts, Vietnamese entrepreneurs acted as vanguard pioneers that together with the country managed to overcome difficult times.

Improving the investment and business environment

As a representative of the business community, VCCI promptly reflects difficulties and obstacles in policy enforcement while recommending solutions for a better business environment to facilitate investment attraction and domestic business development.

With its activities, VCCI has always made great efforts to develop the Vietnamese business community and entrepreneur force, improve the quality of business support amid more extensive international economic integration; gradually realize the goal of building a strong force of Vietnamese entrepreneurs and enterprises.

In addition to giving the contribution to the construction of the Government’s Project on Public Administration Reform Index (PAR Index), VCCI has supported localities to enhance the Provincial Competitiveness Index (PCI), to assess and rank the performance, capacity and willingness of provincial governments to develop business-friendly regulatory environments for private sector development. This highly appreciated research work has had a strong effect on localities and created consistent and positive competition among them. After 17 years of PCI, VCCI has expressed its perseverance and effort, 17 years of objective and honest assessments, 17 years of actions for a better business environment.

VCCI has also chaired and co-chaired many major economic and business policy dialogue forums in Vietnam such as the Prime Minister's annual meeting with businesses, the Vietnam Economic Forum, and the Vietnam Business Forum - VBF. It is the host of many major international forums for entrepreneurs, including APEC Business Summit, Vietnam Business Summit, EU - ASEAN Business Summit, GMS Business Summit, ASEAN BIS and ASEAN BAC, as well as business forums with countries attended by top CEOs and high-ranking leaders in the world.

To foster startup and business development, VCCI takes the lead in organizing startup fests and building a network of small and medium-sized business support centers throughout the country. The Start and Improve Your Business (SIYB) project executed by VCCI in collaboration with the International Labor Organization (ILO) has been implemented in most provinces and cities in the country.

With unremitting efforts, VCCI was honored with the Ho Chi Minh Order by the Party and the State, the First-class Independence Order, the First-class Labor Order and many other admirable titles. VCCI is rated by the International Chamber of Commerce (ICC) as one of the most dynamic chambers of commerce and industry.

New mission - new vision

The 7th VCCI National Congress, themed "Strong Business Community - Thriving Nation", reaffirmed the determination and effort of VCCI in supporting businesses, and promoting contributions of the Vietnamese business community in national construction and development.

The congress decided on important issues, set out six key solutions and three strategic breakthroughs, and had bold and innovative thinking for the new term. In particular, the congress brought together the largest-ever Executive Committee for the 2021-2026 term, comprising 93 capable members, including representatives of many large firms that play a leading role in the country’s important economic sectors, with total revenue of nearly US$100 billion in 2020 and a workforce of nearly one million people.

The Vietnamese business community is facing difficulties and challenges, intertwined with favorable opportunities for development, which will require businesses to be alert to their decisions, seize all opportunities and overcome any hardship, actively improve their compliance capacity and governance capacity, and enhance skills for employees. Therefore, VCCI needs to have fundamental and timely innovations in organizational development, working mechanisms, viewpoints and methods to support enterprises to meet practical needs, restore and develop production and business, and create a favorable environment for development in the new situation.

With the view that VCCI's approach must be consistent with the country’s development orientation, VCCI set out a vision toward a "Strong Business Community - Mighty and Prosperous Nation". VCCI's mission is to link and promote sustainable, integrating and world-class enterprises and business associations while working hard to make Vietnam a developed, prosperous and happy country by 2045.

In the coming time, VCCI will continue to support businesses, connect businesses and connect them with the Party, the State and society; promote the construction of a favorable business environment, and actively participate more deeply, positively and effectively in policymaking and lawmaking, and improve national and local business environments.

In particular, VCCI will continue actively developing an entrepreneur force and building Vietnamese business culture, helping realize the goal of building a strong force of entrepreneurs who actively exercise social responsibility and join social development as stated in the resolution of the 13th National Party Congress.

It will focus on accelerating digital transformation in business, creating a foundation for businesses to embrace new opportunities of the Fourth Industrial Revolution or Industry 4.0, change business models, restructure products and markets, and improve the performance and competitiveness of each enterprise as well as the whole Vietnamese business community, utilizing and promoting Vietnam's economic potential and advantages in the global economy.

VCCI is currently planning to reinforce regional connectivity. To promptly serve the development needs of local enterprises, VCCI will open more branches in localities, pay full attention to common development, make progressive changes for 2022, and create momentum for the whole 2021-2026 period and beyond. It will refer to the country's goals to create inspirational momentum.

Enhancing the position of Vietnamese entrepreneurs and enterprises, and improving business and economic competitiveness after the COVID-19 pandemic is the most important task in the current period. VCCI will continue to work with entrepreneurs and enterprises in this difficult but very glorious mission.

Hoang Quang Phong, Vice President of VCCI

Source: Vietnam Business Forum