Business community urged to contribute to fulfilling double-digit target
VGP - The business community should play a pioneering role in materializing the double-digit growth target in the 2026-2030 period and Viet Nam’s 100-year strategic goals, said Prime Minister Pham Minh Chinh.
Prime Minister Pham Minh Chinh addresses the conference with business associations to seek ways to achieve double-digit growth target, Ha Noi, March 27, 2026 - Photo: VGP/Nhat Bac
The Vietnamese Government chief made the point while chairing a conference with business associations in Ha Noi on March 27.
Pham stressed that achieving double-digit growth target set at the 14th National Party Congress for the 2026-2030 period requires the strong efforts and active participation of the business community.
He affirmed that the Government is attentive to businesses with sincerity, shares with them wholeheartedly, and takes concrete actions to remove difficulties and obstacles, thereby contributing to the realization of Viet Nam's two 100-year strategic goals.
By 2045, the country aims to become a high-income, developed nation with a modern, innovation-driven economy, while its broader centennial vision is to build a prosperous, sustainable, and globally competitive country with a high quality of life for its people.
The Prime Minister took the occasion to call on delegates to focus discussions on how to decisively shift toward a growth model driven by science and technology, innovation, and digital transformation, describing this as both an objective requirement and a strategic choice.
He also highlighted the need to develop enterprises capable of competing on regional and global markets; to transform household businesses into formal enterprises; to help small and medium-sized enterprises grow into large companies; and to enable large firms to become global and transnational corporations.
The Prime Minister also underscored the importance of leveraging the digital economy, green economy, and free trade agreements to enhance the country's position in global value chains, contribute more actively and integrate more deeply into the global economy, and improve the quality of production, strengthen self-reliance, resilience, and strategic autonomy.
He stressed the need to bolster labor productivity and improve the quality of human resources to meet international labor standards, while raising the question of what institutional, policy, and resource bottlenecks the State needs to address to create breakthroughs for businesses.
Delegates at the conference, Ha Noi, March 27, 2026 - Photo: VGP/Nhat Bac
According to the Prime Minister, these are major issues that require the joint efforts of all stakeholders, with a strong emphasis on intellect, time efficiency, and timely, decisive action to achieve the highest effectiveness. To help the country overcome headwinds and achieve double-digit growth, all levels, sectors, and localities must also strive for double-digit growth.
Prime Minister Pham Minh Chinh and delegates to the conference, Ha Noi, March 27, 2026 - Photo: VGP/Nhat Bac
The business community currently contributes about 60 percent of GDP, employs more than 16 million workers, and plays a key role in total import-export turnover, according to Deputy Minister of Finance Cao Anh Tuan.
The state-owned enterprise (SOE) sector continues to act as a leading force in many key industries and fields, ensuring energy security, food security, and macroeconomic stability.
Meanwhile, the private sector—one of the most important drivers of the economy—has made strong progress, fostering a vibrant entrepreneurial spirit and gradually forming corporations with regional and international brands. The FDI sector remains an important component of the economy, with Viet Nam now ranking among the world’s top 15 recipients of foreign direct investment.
As of the end of 2025, the country had more than 1 million active enterprises, an increase of over 25 percent compared to 2020. Notably, following the issuance of Resolution No. 68-NQ/TW by the Communist Party of Viet Nam’s Politburo on private sector development, entrepreneurial momentum has spread strongly.
Since May 2025, an average of around 18,000 new enterprises have been established each month, up 38 percent compared to the average of the first four months of the year. In total, nearly 298,000 enterprises were newly established or resumed operations in 2025.
In terms of mobilizing resources from the business sector for socio-economic development, total social investment in the 2021–2025 period reached approximately 33 percent of GDP./.
