Entrepreneurs and businesses in the era of growth:

Over the years, the Party and the State have issued many policies to motivate the development of Vietnamese entrepreneurs. Thanks to that, the business community has grown stronger and stronger, playing the role of a pioneer in promoting economic development, innovation and international integration.

Hanoi Moi Newspaper had an interview with Permanent Vice President and General Secretary of the Vietnam Association of Small and Medium Enterprises To Hoai Nam on this issue.

Permanent Vice President and General Secretary of the Vietnam Association of Small and Medium Enterprises To Hoai Nam.

Clearly identify opportunities and challenges

- Over the past 40 years after the renovation, the Vietnamese business and entrepreneur force has grown stronger and stronger. Could you share about the outstanding contributions of the Vietnamese business and business community to the country's socio -economic development in recent times?

- Entrepreneurs are not only the ones who steer the business boat, but also the ones who inspire, arouse the confidence and aspiration for national development. The accompaniment of the creative Government , the support of management agencies and the media will give more strength to businesses to go further in the integration journey.

If in 2004, the number of operating enterprises was only about 92,000 units, then after more than 20 years, Vietnam has nearly 940,000 operating enterprises. Along with that are nearly 30,000 cooperatives and more than 5 million business households. The enterprise force currently contributes about 60% of GDP, accounting for 98% of total export turnover. They not only create jobs for about 85% of the country's workforce, but are also the foundation of the private economic sector - the most dynamic and creative sector today.

Enterprises and entrepreneurs are present in almost all production and business sectors. Not only domestically, many enterprises and entrepreneurs have made a name for themselves, affirmed their brand value to reach the region and the world , contributing to enhancing Vietnam's position in the international arena. Many enterprises have risen to master technology, take the lead in innovation, have brands, create ecosystems for small and medium enterprises to develop together, pioneer in green transformation, digital transformation, participate in solving major challenges and problems of the country.

Assembling automatic machines at Tan Phat Equipment Technology Joint Stock Company (Dai Thanh commune). Photo: Quang Thai

In the context of the Covid-19 pandemic, climate change and frequent natural disasters, storms and floods, negatively affecting production and business activities, the business community and entrepreneurs always uphold the spirit of sharing, accompanying the country, overcoming difficulties, self-reliance, making efforts to adapt to circumstances to recover, maintain production and business activities, avoid disruptions in the supply chain of goods, maintain jobs for workers and create livelihoods for people. Enterprises and entrepreneurs also regularly and actively contribute to implementing strategic breakthroughs in institutions, building policies and laws..., contributing to improving the business environment, promoting sustainable development.

- In the current context, businesses and entrepreneurs still face many challenges, especially after the Covid-19 pandemic. Can you share some of the basic challenges that the business community and entrepreneurs are facing?

- In the context of the era of self-improvement established as a strategic development stage, Vietnamese enterprises are facing a golden opportunity for breakthrough development, while also facing many major systemic challenges. Clearly identifying opportunities and challenges is the basis for the business community to plan sustainable development strategies and adapt flexibly in the new era.

Although the number of enterprises is increasing rapidly, the majority are still small and medium enterprises, with limited competitiveness, low management capacity and operational efficiency. Many enterprises have not optimized their resources, lack long-term strategies and lack the ability to quickly adapt to the market. Investment resources for innovation, technology and human resources are limited, leading to low labor productivity and weak competitiveness in the international market.

In addition, many businesses still operate individually, without forming value chains or industry clusters. They also face many difficulties in meeting quality, environmental and labor standards to participate more deeply in the global supply chain. In addition, competitive pressure from large domestic and foreign enterprises, along with increasingly high demands from the international market, forces small and medium enterprises to change their management and cooperation thinking.

Breathing new life into the private business community

- The Politburo's Resolution No. 68-NQ/TU on private economic development was not only considered a guideline for the development of the private economy, but also created a strong new driving force for the economy. How do you evaluate this?

- The breakthrough of the private economic sector is breathing new life into the Vietnamese business community. In the past 9 months alone, the whole country had 145,000 newly registered businesses, an increase of 18.9% over the same period last year. In addition, the whole country had 86,400 businesses returning to operation, an increase of 41.3% over the same period in 2024, bringing the total number of newly established and returning businesses in the first 9 months of 2025 to more than 231,300 businesses. On average, 25,700 businesses were newly established and returned to operation per month.

This is a positive signal showing that the attraction of Resolution No. 68-NQ/TU of the Politburo is gradually showing its effectiveness. With strong incentive policies, the private economic sector is developing, creating a sustainable driving force for economic growth.

- To help the business community overcome difficulties and challenges, and at the same time foster a strong entrepreneurial spirit, achieving the goals set out in Resolution No. 68-NQ/TU, in your opinion, what solutions need to be implemented?

- For sustainable development, from now until 2026, it is necessary to focus on a number of key groups of solutions. In particular, focusing on promoting linkages and forming value chains; connecting small businesses with each other, between small and medium-sized enterprises and large enterprises to create industry clusters and domestic value chains. Thereby, solving limitations in technology, capital, market, governance and reducing risks. Linking is not only for "beautification" but is a way to overcome market fluctuations together, learn and share, towards sustainable development.

Innovation in thinking and comprehensive cooperation, not only in production and consumption but also in knowledge sharing and common brand building, contributing to the formation of a strong national brand.

Hanoi and Ho Chi Minh City, as two major economic and cultural centers, need to take the lead in innovation, testing new models, building technology linkage centers, connecting small and medium enterprises with large domestic corporations such as Viettel, Vingroup, FPT... to transfer technology, knowledge and build a business ecosystem. At the same time, the two localities must pioneer in green transformation, digital transformation, meeting international standards, and resolving technical barriers of the export market.

In addition, it is necessary to improve financial and technological support policies; enhance learning and technology transfer between large and small enterprises; build a specific innovation fund for Hanoi and Ho Chi Minh City; promote digital administrative reform, and facilitate businesses' access to capital, standards and markets.

Resolution No. 68-NQ/TU, together with programs to encourage innovation, digital transformation and competitiveness enhancement, will create strong momentum for the development of this sector. However, to grow, businesses must face and solve three main challenges: digital transformation, green production and access to capital. One of the effective ways to overcome these challenges is to strengthen the linkage between small and medium-sized enterprises and large enterprises, thereby enhancing competitiveness and sustainable development, helping businesses participate more deeply in domestic and international value chains.

Small and medium enterprises may not be the “giants” of the economy, but they are the most resilient, creative and flexible links. If properly supported and their potential is exploited, this sector will not only be a silent force, but also a driving force for sustainable development of the Vietnamese economy in the future.

Thank you very much!

Source: https://hanoimoi.vn/business-people-in-the-development-of-minh-thuc-day-developing-economic-development-in-the-world-719328.html