Entrepreneurs - Key for Driving Economic Growth

10:30:55 AM | 10/17/2023

Resolution 41-NQ/TW, which was signed by General Secretary Nguyen Phu Trong on October 10, 2023, was officially declared at the National Conference for Vietnamese Business Associations and Entrepreneurs on the following day. The Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Association of Small and Medium Enterprises jointly organized the conference to commemorate Vietnam Entrepreneurs’ Day.

Party and State leaders present flower baskets to VCCI leaders and business leaders as a gesture of recognition and gratitude for their contributions to the national development

VCCI President Pham Tan Cong announced that General Secretary Nguyen Phu Trong had officially signed a new resolution (Resolution 41-NQ/TW) on building and developing the entrepreneurial force in the new era, which replaced Resolution 09 which was issued nearly 12 years ago. The new resolution provides the perspectives, approaches and solutions for the future development of the Vietnamese entrepreneurial force, with the goal of achieving Vietnam’s aspirations of becoming a developed country by 2045.

 Mr. Do Ngoc An, Vice Chairman of the Central Economic Commission, stated that Resolution 41 acknowledged the significant position and role of the entrepreneurial force as one of the key drivers for the country’s industrialization, modernization and international integration, as well as for building and developing an independent, self-reliant economy and ensuring national defense and security.

Resolution 41 also commended and encouraged entrepreneurs for their patriotism, self-reliant nationalism, dedication, law compliance and contributions to the country’s prosperity and well-being.

Mr. Tran Ba Duong - Vice President of VCCI and Chairman of the Board of Directors of Thaco Group, expressed his enthusiasm about Resolution 41-NQ/TW. He said that being an entrepreneur was an honorable but also a challenging responsibility. Businesses had never faced as many difficulties as they did now, which might continue until next year. However, this was also a chance for entrepreneurs and enterprises to identify their core values and business foundations, and to adopt strategies, methods and approaches that suited the current situations and national missions.

He added: “As both a member of a business agency and an entrepreneur, I realize that my role and responsibility are greater and I need to be more attentive and supportive to other companies to collaborate and develop our community and positively contribute to VCCI’s activities and the economy."

Mr. Tran Duy Dong, Deputy Minister of Planning and Investment, said that the Ministry of Planning and Investment always valued the important role of enterprises and entrepreneurs in innovation and development, both economically and socially. With that awareness, the Ministry of Planning and Investment had concentrated on improving laws and decrees related to the business investment environment. Most recently, Resolution 105 of the Government provided solutions to overcome difficulties and enhance the development of Vietnamese enterprises and entrepreneurs.

Mr. Nguyen Van Than

Chairman of Vietnam Association of Small and Medium Enterprises

This year, Vietnam has gained significant attention from other countries, and its position has never been higher. This is an advantage for Vietnam in business cooperation with other countries.

In addition, Resolution 41, announced on the anniversary of Vietnam Entrepreneurs’ Day, defines entrepreneurs as the core force of the economy and provides operating guidance for enterprises to contribute to the country’s economic development. Business support funds, especially for SMEs, are provided with more finance, enabling them to reduce interest rates for more companies. Foreign organizations are willing to entrust some banks to support loans for women-led businesses.

However, Vietnamese enterprises also face common challenges of the world economy. We need to further encourage and share with each other to develop the economy better quarter on quarter.

Ms. Dang Thi Minh Phuong

President of Ho Chi Minh City Logistics Association

VCCI has been actively engaging with the government to propose positive support policies for businesses. However, there is a need for more in-depth dialogues on specific industries.

The logistics industry is a significant contributor to Vietnam’s economy, accounting for nearly 20% of its GDP. It is a crucial industry for national economic development as logistics development will attract foreign investment and boost economic growth. The logistics industry has expressed its desire to have dialogues with the government to help policymaking and develop the industry more strongly. Through these dialogues, executable policies can be formulated to bolster economic development and the country’s key industries.

Mr. Nguyen Huy Long

Chairman of Lao Cai Business Association

To further develop the northern midland and mountainous region and connect with Yunnan province and broader China, opening a representative office in Lao Cai province is a strategic move for the Vietnam Chamber of Commerce and Industry (VCCI). This will not only develop Lao Cai but also generate an investment magnet for the region. The Lao Cai Business Association will strengthen exchanges, cooperation, and learning with domestic and foreign business agencies and associations in the coming time.

Dr. Le Minh Nghia

Chairman of Vietnam Financial Consulting Association

Personal finance is a major concern for both individuals and businesses. However, the low quality of many financial consulting services has resulted in negative consequences and impacts on financial companies.

Therefore, it is essential to improve financial literacy by consulting and learning from international best practices. This will help meet the development requirements of the financial market, which has increasing demands for personal finance services. It will also enable credit institutions to promote personal financial products and develop personal financial consulting services in the future. To achieve this goal, a long-term national strategic program to raise financial literacy in general and personal financial planning in particular should be implemented.

The conference opens with a flag salute and the performance of the song “Proud of Vietnamese Entrepreneurs”, which reflects the spirit and aspiration of the business community

VCCI announces traditional song for Vietnamese entrepreneurs

On the occasion of Vietnam Entrepreneurs’ Day in 2023, the Vietnam Chamber of Commerce and Industry (VCCI) announced the first-ever traditional song for Vietnamese businesspeople, titled “Proud of Vietnamese Entrepreneurs”. The song was composed by Pham Tien Dung and expresses the patriotic spirit and dedication of the entrepreneurs who contribute to the national development.

The song was selected from a songwriting contest named “Spirit of Vietnamese Entrepreneurs” that was launched by VCCI in collaboration with the Vietnam Musicians Association on March 16, 2023. The contest attracted 347 entries and after several rounds of evaluation and selection, the jury, chaired by musician Duc Trinh, President of the Vietnam Musicians Association, chose 23 best songs. The Organizing Board then awarded one first prize, one second prize, three third prizes and 18 consolation prizes to the winners. The VCCI Executive Board, after consulting with business associations and the business community, voted to choose “Proud of Vietnamese Entrepreneurs” as the traditional song for business people.

The announcement of the traditional song for businesspeople is part of VCCI’s efforts to build Vietnamese business culture in the new era, following the introduction of six business ethics codes by VCCI in 2022.

By Giang Tu, Vietnam Business Forum