Addressing the event, held ahead of Vietnam Entrepreneurs’ Day on October 13 and marking the 80th anniversary of President Ho Chi Minh’s letter to the business community, PM Pham Minh Chinh highlighted the transformative impact of over 40 years of Doi Moi (renewal). Agriculture, he noted, lifted Vietnam from poverty to become a leading global rice exporter, while industry and foreign direct investment pushed the country past the lower middle-income threshold. He expressed optimism that sci-tech, innovation, and digital transformation would propel Vietnam toward high-income status.
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Prime Minister Pham Minh Chinh addresses the event. |
He called on private enterprises to pioneer in achieving Vietnam’s two centennial development goals by aligning corporate strategies with national goals, joining patriotic movements through innovative, tech-driven products; and promoting equality, fairness, social progress and welfare to ensure no one is left behind.
They were also urged to grow holistically by harnessing internal strengths and surpassing limitations to become a leading force for growth, job creation, productivity, competitiveness, industrialization, modernization, and economic restructuring. Additionally, he advocated for extensive, substantive and effective global integration, enabling firms to compete on equal footing with global enterprises, advance in global value chains and adopt a long-term, ambitious development approach.
The session saw the launch of key initiatives, including the Vietnam Low Altitude Economy Alliance (LAE), the Vietnam Supporting Industries Manufacturers Alliance, and a 2025-2030 program to enhance localization and supporting industry capacity. A scheme was signed to implement a pilot public-private nation-building model for 2025-2026, alongside a plan to honor outstanding entrepreneurs and enterprises.
Several cooperation agreements were exchanged, including a strategic partnership between Ho Chi Minh City and the Vietnam LAE Alliance, a deal between Ho Chi Minh City and Sovico Group for Metro Line 4, and another among Hanoi, Sovico, and UNESCO to develop a “Creative Capital” model rooted in heritage and traditional values. Others included the “Made in Da Nang” project and a Thai Nguyen project focusing on organic agriculture, heritage conservation, and cultural tourism linked to tea cultivation.
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The launch of the Vietnam Low Altitude Economy Alliance (LAE) |
The event drew government officials, foreign diplomats, and over 500 representatives from international organizations, domestic and foreign business associations and enterprises.
ViPEL, one of the four tasks assigned by the Government to the Private Sector Development Research Board (Board IV) in coordination with the Ministry of Finance, aligns with the Politburo’s Resolution 68 to establish the private sector as a key economic driver.
The program featured sectoral sessions, including a Vietnam Women Entrepreneurs’ Forum to underscore women’s contributions to private sector growth. Panel discussions addressed sector-specific challenges, identified growth opportunities, and proposed cooperation projects under the “Public-Private Nation-Building” framework.
The plenary session reviewed discussion outcomes and unveiled key initiatives, including the “Public-Private Nation-Building” model and the ViPEL mechanism. These focus on public-private synergies, linking Vietnam’s value chains, promoting emerging technologies and innovation, advancing competitive industries, developing major infrastructure, and expanding resources and services through the ViPEL framework.
Source: VNA