Private sector urged to lead Viet Nam's future
VGP - Prime Minister Pham Minh Chinh urged the business community, particularly the private sector, to continue accompanying the Party, State, and people in sharing responsibilities, achievements, and pride as Viet Nam advances confidently into a new era of national development.
Prime Minister Pham Minh Chinh (1st from R) at the high-level dialogue of the Viet Nam Private Sector Forum (VPSF) 2025, Ha Noi, September 16, 2025 - Photo: VGP/Nhat Bac
The Government leader delivered the message on September 16 in Ha Noi while addressing a high-level dialogue of the Viet Nam Private Sector Forum (VPSF) 2025 under the theme "Unlocking Potential – Shaping Viet Nam's Future."
Praising the contributions of the private sector, Prime Minister Chinh called on entrepreneurs to comply with national laws and policies, uphold business ethics, and fulfill their social responsibilities. He also emphasized the need for enterprises to adapt flexibly to global changes, diversify markets and supply chains, and continuously enhance the value-added of Vietnamese products.
The Government chief also highlighted the slogan "The Government accompanies, ministries reform, infrastructure connects, institutions enable, businesses lead – Viet Nam develops."
The forum, held in Ha Noi on September 15-16, brought together over 1,500 entrepreneurs, experts, representatives of international organisations, senior government officials, and provincial leaders. It was organised by the Viet Nam Young Entrepreneurs Association, representing a key step in implementing Politburo Resolution 68-NQ/TW on private sector development.
In preparation for the event, 12 local-level dialogues were conducted nationwide, gathering input from more than 5,000 entrepreneurs and generating over 3,000 policy recommendations. These were consolidated into the ministerial-level dialogue, the high-level session with Government leaders, the VPSF 2025 Joint Declaration, and the Viet Nam Private Sector White Paper 2025.
The Joint Declaration adopted on this occasion underscores trust in a "constructive, integrity-based, action-oriented Government" and calls for concrete, measurable reforms to foster a reliable, transparent, effective, and competitive business environment.
Official data shows that Viet Nam currently has over 940,000 private enterprises and more than 5 million household businesses, contributing around 50 percent of GDP, over 30 percent of state budget revenue, and providing jobs for 82 percent of the workforce.
Significantly, the top 500 private enterprises (VPE 500) account for just 0.075 percent of total businesses but occupying 28 percent of total assets and 18.4 percent of private-sector revenue. These leading firms are also driving innovation, automation, and integration into global value chains./.
