Enhancing Role of Entrepreneurs in New Era

Resolution 41-NQ/TW recognizes the pivotal position and significant role of entrepreneurs as a key driving force behind national industrialization, modernization and international economic integration. Entrepreneurs are essential in fostering an independent and self-reliant economy, while also ensuring national defense and security.

The conference on  the comprehensive understanding and implementation of the Politburo’s Resolution 41-NQ/TW, issued on October 10, 2023

Support for business development

At the Politburo meeting on October 10, 2023, focused on building and promoting the role of Vietnamese entrepreneurs in the new era, VCCI President Pham Tan Cong highlighted that Resolution 41 serves as a cornerstone for elevating Vietnamese businesses to new heights as the nation aims to become a developed country. This initiative, led by the Central Commission of Propaganda and Education in coordination with the Central Economic Commission and the Vietnam Chamber of Commerce and Industry (VCCI), necessitated legal and policy reforms and an improved business environment. The VCCI is committed to playing an important role in this process.

Deputy Chairman of the Central Economic Commission Nguyen Duc Hien said that Resolution 41 outlines the overarching goal of cultivating a robust and well-structured force of entrepreneurs who are visionary, intelligent, ethical and dynamic. These entrepreneurs should be eager to generate wealth, socially responsible, environmentally conscious and committed to contributing to national development goals.

By 2030, Vietnam aims to develop a substantial cadre of capable and qualified entrepreneurs to meet industrialization and modernization targets. The country seeks to nurture businesses of regional and global standing, with some leading key industries and integrating significantly into global supply and value chains, competing effectively on the world stage.

According to the Government’s Action Program for implementing Resolution 41-NQ/TW, Vietnam aims to have at least two million businesses by 2030, including many industry-leading firms with strong domestic and international market competitiveness. The business sector is expected to contribute 65-70% of the country's GDP, provide 32-38% of jobs, and account for 98-99% of total export value. Additionally, 65-70% of business owners will hold university degrees or higher, and 20-25% of businesses will be women-owned. The country also aims to have at least 70 firms, each with market capitalizations exceeding US$1 billion and 120 corporations, each with net revenues over US$1 billion. Furthermore, the number of Vietnamese businesses recognized among the best global brands by prestigious ranking agencies is projected to increase by 10% annually.

VCCI’s online interface for the conference dedicated to the comprehensive understanding and implementation of the Politburo’s Resolution 41-NQ/TW

Innovative thinking, unified awareness

Mr. Nguyen Trong Nghia, Chairman of the Central Commission of Propaganda and Education, emphasized the need for all levels, sectors, and localities to shift their thinking and share a unified awareness regarding the importance of building and promoting the role of Vietnamese entrepreneurs, as articulated in the Politburo's Resolution.

Domestic and regional issues will present new challenges, requiring enterprises and entrepreneurs to develop rapidly, sustainably and innovatively to seize opportunities and overcome obstacles. He stressed that it is important to cultivate and enhance the role of Vietnamese entrepreneurs, enabling them to make significant contributions to national construction and defense in the contemporary context.

All levels, sectors, and localities must organize meetings promptly to fully grasp the core tenets of the resolution, facilitating a shift in thinking and a unified awareness about fostering the role of Vietnamese entrepreneurs. Additionally, Vietnam must focus on communication and advocacy to engage officials and the public in actively implementing the resolution. This includes ensuring that Vietnamese businesspeople deeply understand their role and mission, particularly in achieving rapid and sustainable socioeconomic development.

The goal is to develop an independent, self-reliant national economy that aligns with international integration, national defense and security. Efforts should be made to build business ethics inspired by Ho Chi Minh's ideology, conduct and style; to highlight the social responsibility of Vietnamese entrepreneurs; and to promote patriotic emulation movements among entrepreneurs to achieve the set goals.

In response to the Politburo’s comments and assessments on the existing limitations of the Vietnamese entrepreneurial force in recent years, Nghia urged agencies and localities to identify the causes and responsibilities for these limitations and to ensure the resolution's consistent and effective implementation. He called for continued improvement of the socialist-oriented market economy, refinement of policies and legal systems, and the creation of innovative policies to encourage, motivate and unleash resources for business growth. Institutions and policies should be harmonized with the Party's resolutions, directives and regulations on enterprises and entrepreneurs to enhance public and business satisfaction.

By Huong Ly, Vietnam Business Forum