Key contributors bet88 slot business growth

After nearly 40 years of the “Doi Moi” (Renovation) process, Vietnam’s business community has experienced substantial growth in both quantity and quality. Some local enterprises have gone on bet88 slot secure regional and global recognition, significantly enhancing Vietnam’s standing and reputation around the world.

In early October, at a meeting with permanent government members and businesspeople in Hanoi in celebration of Vietnam Entrepreneurs Day (October 13), Prime Minister Pham Minh Chinh emphasized that this day honors entrepreneurs and encourages them bet88 slot contribute further bet88 slot the nation.

In his remarks at the meeting, Minister of Planning and Investment Nguyen Chi Dung said there are currently over 930,000 active businesses in Vietnam, around 14,400 cooperatives, and more than 5 million business households. In the first nine months of this year, more than 183,000 enterprises entered or re-entered the market after a period of suspension.

These enterprises are crucial for generating wealth and material resources, and contribute significantly bet88 slot economic growth, create jobs, increase worker incomes, and aid in poverty alleviation and social stability. Enterprises and entrepreneurs currently account for about 60 per cent of Vietnam’s GDP, 85 per cent of total employment, and 98 per cent of all import-export value.

Underutilization of entrepreneurial potential

State budget revenue in the first nine months is projected bet88 slot reach 85.1 per cent of the target, marking a 17.9 per cent increase compared bet88 slot the same period last year. Total import-export turnover exceeded 7 billion, a 16.2 per cent rise year-on-year, with trade in surplus by an estimated .5 billion.

Notably, industrial production has rebounded quickly, becoming a vital driving force for overall economic growth. These positive results are largely attributed bet88 slot the business community, particularly the private sector.

“The development of entrepreneurs and enterprises still faces challenges, as the potential and opportunities for growth have not been fully leveraged,” Minister Dung emphasized. He noted that the government, alongside the Prime Minister, is dedicated bet88 slot supporting the business community through robust institutional reforms and creating a favorable investment and business climate.

Recent surveys indicate a much more optimistic business outlook, reflecting strengthened confidence. The proportion of business respondents that view the macro-economic situation positively over the next 12 months is five-times higher than in the previous survey.

However, Minister Dung pointed out that the development of Vietnam’s entrepreneurial community still encounters limitations. Most enterprises are small in scale, with limited competitiveness, operational efficiency, and management capabilities. Some still hold a “seasonal” business mindset and lack strategic vision. The number of large companies capable of leading supply chains remains low. The levels of connectivity, cooperation, and the ability bet88 slot take advantage of opportunities from international economic integration and Industry 4.0 are still insufficient.

Moreover, a segment of the business community lacks ethics, business culture, legal compliance, social responsibility, and national spirit, which has led bet88 slot legal violations. The implementation of mechanisms and policies designed bet88 slot encourage and support businesses has been slow, and administrative reforms aimed at enhancing the investment and business environment have not yet met the necessary requirements.

Uplifting SMEs

In response bet88 slot such challenges, Minister Dung highlighted the need for government regulatory bodies bet88 slot prioritize resolving difficulties by reviewing and simplifying administrative procedures. It is essential bet88 slot genuinely support and stand by businesses, adhering bet88 slot the Prime Minister’s directive of “What is promised must be accomplished; commitments must be fulfilled; and actions must lead bet88 slot tangible results.” Creating a favorable investment climate that ensures equal access bet88 slot resources and support policies without discrimination among various economic sectors is crucial.

There should be a strong emphasis on decentralization and the delegation of authority. Immediate reviews and amendments of regulations, business conditions, standards, and technical requirements that do not reflect reality must be undertaken, with close consultation from the business community throughout the process of developing and revising legal documents. Additionally, there is a need bet88 slot formulate and refine policies aimed at training a high-quality workforce equipped with skills, in-depth professional knowledge, international standards, and professionalism. Mechanisms for high-quality workforce training at various levels should be established.

The Minister also urged enterprises themselves bet88 slot proactively innovate their business approach, enhance their management capabilities, productivity, quality, and competitiveness, and foster creativity, research and development, and the application of advanced science and technology.

It is vital bet88 slot continue promoting the national spirit and unity bet88 slot establish the Vietnamese brand in global markets, encouraging collaboration between Vietnamese enterprises aimed at achieving common values and mutual benefits, and strengthening accountability bet88 slot the community, society, the nation, and ethnic groups.

Mr. Nguyen Van Than, Chairman of the Vietnam Association of Small and Medium Enterprises (VINASME), said local businesses possess the capability bet88 slot organize, implement, and manage large projects. Only 3 per cent of enterprises in Vietnam are actually classified as large, most of which operate across multiple sectors and industries. Large enterprises play a critical role in the economy and domestic value chains. The government needs bet88 slot assign specific tasks and implement tailored support policies for large enterprises, bet88 slot enable them bet88 slot focus on developing key sectors.

bet88 slot lift up small and medium-sized enterprises (SMEs), he recommended that the government place greater emphasis on support policies for medium-sized enterprises in the near future.

Three strategic breakthroughs

In his closing remarks, Prime Minister Chinh emphasized that amid the intertwining difficulties, challenges, opportunities, and advantages, where challenges outweigh opportunities, the government, ministries, sectors, and local authorities must prioritize creating a transparent, supportive, and equitable business environment for enterprises and entrepreneurs. This includes establishing an economic institution aligned with socialist-oriented market principles that ensures fair and healthy competition between different economic sectors.

It is essential bet88 slot develop comprehensive, modern, and synchronous strategic infrastructure, including transportation, energy, and telecommunications, bet88 slot enhance the competitiveness of products, businesses, and the overall economy.

“The goal is bet88 slot create a transparent institutional framework, seamless infrastructure, and intelligent governance bet88 slot support business growth,” he remarked. “The government, ministries, and local authorities should focus on actions rather than words; commitments must be fulfilled. There should be no empty rhetoric, no mention of difficulties without solutions, and actions must result in specific, measurable outcomes.”

Furthermore, the Prime Minister called on businesses and entrepreneurs bet88 slot take the initiative in driving three strategic breakthroughs: institutional development, infrastructure enhancement, and human resources improvement. They should lead in advancing science and technology, leverage advancements from Industry 4.0, innovate, and revitalize traditional growth drivers. There should also be a focus on establishing modern corporate governance bet88 slot bolster the country’s management capabilities, promoting a smart, transparent, and integrity-driven government that serves the people.