Entrepreneurs hailed as driver of economic transformation

Talking with a delegation of distinguished entrepreneurs from the Vietnam Chamber of Commerce and Industry (VCCI) and the Vietnam Private Business Association (VPBA), Lam underscored entrepreneurs’ essential role in driving economic reform, shaping development policies, improving business environment, and fostering innovation in the State economic management.

They were hailed as catalysts for progress, innovation, productivity and cost efficiency, all of which ultimately benefit consumers. They embody ethical standards, champion fair competition, and serve as role models within society.

Beyond their economic impact, they have actively engaged in initiatives to reduce poverty, eliminate substandard houses, and support vulnerable communities, especially during challenging times like the COVID-19 pandemic and natural disasters such as Typhoon Yagi.

As Vietnam sets its sights on becoming a high-income developed nation within the next two decades, Lam committed to continued economic and legal reforms. Priorities include investing in quality workforce in key and strategic areas, improving infrastructure such as electricity, transportation, irrigation, information technology, and digitalisation, toward creating a favourable, safe and fair business environment that meets international standards.

According to the leader, the digital revolution presents unprecedented opportunities for Vietnamese entrepreneurs. With the rise of e-commerce, financial technology (fintech), artificial intelligence (AI), and cloud computing, the barriers to global markets are diminishing. He urged visionary entrepreneurs to harness these technologies, innovate, and establish a "digital production model" that positions them at the forefront of global trends. By doing so, they can generate high added value and elevate Vietnam's economy within the global value chain.

In a passionate call to action, he encouraged the Vietnamese business community to embody national pride and patriotism, uphold ethical business practices, cultivate ambitious goals, and exemplify the spirit of entrepreneurship. The future of Vietnam rests on their shoulders, and their unwavering confidence in their enterprises and the nation is crucial.

Vietnam boasts over 930,000 active enterprises, with 98% classified as small and medium-sized enterprises (SMEs). The private sector is a powerhouse, contributing approximately 60% of the GDP, generating 30% of state budget revenue, and employing 85% of the workforce.