Private economy - the pillar to create new growth momentum

Photo caption — Sewing goods for export to the Japanese market at Hung Viet Garment Company (Pho Noi, Hung Yen ). Illustration photo: Tran Viet/VNA

Lesson 3: The heart and vision of Vietnamese enterprises

During tea and wine breaks, many businessmen, from owners of trillion-dollar corporations to directors of small suburban factories, often share that people often look at revenue, profits, and dry numbers on financial reports to measure the success of each business or the "skillfulness" of each entrepreneur. But behind that, there are sleepless nights, responsibilities to thousands of workers' families, and the desire to build something sustainable for society. That is what makes every business owner most concerned. Indeed, from that confession, we can see that if we only look at the numbers, the public may miss the most beautiful part, the "Heart" and "Vision" of business people.

Undeniably, the biggest and most visible contribution of enterprises is the role of the "backbone" of the national economy . Every year, the private economic sector, with the core team of entrepreneurs, contributes more than 40% of GDP, creates millions of jobs and is the main source of revenue for the State budget through taxes. These numbers are not simply statistics, they are the livelihoods of millions of families, the foundation for social security, the resources for the country to achieve great goals in infrastructure, education, health care...

Ms. Nguyen Thi Hang, Director of Newpact Co., Ltd. - a unit specializing in consulting, training and coaching businesses, said that in times of global economic turmoil, when "headwinds" from inflation, supply chain disruptions or geopolitical conflicts continuously strike, the mettle of Vietnamese entrepreneurs is even more clearly demonstrated. They are talented "captains", steering their business ships through the waves.

Many businesses reflect that they have lost sleep every night to find new orders, to keep even one worker; bold decisions, accepting risks to restructure the business, to find a new path, applying technology and innovation so that the business does not fall behind.... That resilience and flexibility not only saves their businesses, but also contributes significantly to maintaining macroeconomic stability, contributing to the country's "economic engine".

These are silent contributions, but of vital significance and have also been demonstrated by the growth of macroeconomic indicators when GDP in the first 9 months of 2025 is estimated to increase by 7.85% over the same period last year, only lower than the growth rate of 9.44% in the same period in 2022 in the period 2011-2025. This is also an indicator of the possibility of realizing Vietnam's GDP growth target in 2025, which can reach 8.3 - 8.5% as set out in Resolution 226/NQ-CP dated August 5, 2025 of the Government, instead of the original target of 8%.

The story of Vietnamese enterprises today is no longer just at home. Many entrepreneurs have shared a common dream of bringing Vietnamese products, services and intelligence to the open sea, affirming their position on the global economic map. According to many economic experts, that journey is not easy. It is an unequal battle of capital, technology and brand on large "playgrounds". But with tireless efforts, many enterprises have made miracles. "Made in Vietnam" products are now not only garments or raw agricultural products, but also high-tech products, internationally recognized software, and billion-dollar brands.

Behind every successful export product, behind every Vietnamese brand that is welcomed by international consumers, is the sweat, tears and intelligence of a team of pioneering entrepreneurs. They are not only enriching themselves, they are building “soft power” for the country and writing the story of a dynamic, creative and potential Vietnam. This dedication deserves to be recognized as “economic ambassadors”, contributing to enhancing the image and reputation of Vietnam in the international arena.

Demonstrating a deep awareness of corporate social responsibility when implementing ESG standards on Environment, Social and Governance, Mr. Nguyen Sy Duc, Director of American Pharmaceutical Investment and Trading Company Limited, shared that nowadays, businessmen do not only take on the role of economic workers, but also need to truly demonstrate their role as responsible citizens of the community with specific actions to evaluate sustainability, stability and development; not just based on financial profits.

Corporate social responsibility does not stop at seasonal charitable activities, public contributions... but must also include ensuring the rights and welfare of employees, maintaining sustainable production standards, minimizing negative impacts on the environment and building products and services that are useful to society. In practice, many businesses have been willing to spend hundreds of billions of VND to join the Government in fighting epidemics, fighting storms and floods, building bridges in remote areas, sponsoring programs to nurture young talents or pioneering in environmental protection projects, developing green economies...

But even more than that, social responsibility is also demonstrated within the enterprise itself, Mr. Nguyen Sy Duc emphasized, building a humane working environment, ensuring good welfare for employees, strictly complying with environmental regulations, transparent business and respecting the law... are also the clearest manifestations of the spirit of responsibility. A sustainable business not only creates profits, but also creates a happy ecosystem for employees and contributes positively to the overall progress of society. The "Heart" of an entrepreneur is most clearly demonstrated in these actions.

It can be seen that these are invisible values, endogenous strength, the most solid launching pad for Vietnamese enterprises to overcome challenges, reach out to the ocean and truly become a core, proud force on the journey to build a prosperous, sustainably developed Vietnam. (To be continued)

Lesson 4: Reference model for Vietnam

Source: https://baotintuc.vn/kinh-te/kinh-te-tu-nhan-tru-cot-kien-tao-dong-luc-tang-truong-moi-bai-3-20251012073331115.htm