Vietnamese enterprises, entrepreneurs direct drivers of economic growth

The Politburo has recently issued strategic resolutions to maximize the potential of all economic sectors. Resolution 68 affirms the private economy as a crucial driver of the national economy, targeting rapid and sustainable growth through 2045 while encouraging domestic businesses to join global production and supply chains.

Resolution 79 reaffirms that the state-owned economy plays the leading role in the socialist-oriented market economy, securing macroeconomic stability and major balances to help elevate Vietnam into a high-income developed nation by 2045. Meanwhile, Resolution 10 identifies the foreign-invested sector as an integral component that supplies medium- and long-term capital, transfers advanced technology, introduces modern governance, and expands export markets.

Speaking at the "Vietnam Business Leadership Development" event organized by the Vietnam Chamber of Commerce and Industry (VCCI), VCCI President Ho Sy Hung noted that the economy demands business leaders equipped with strategic vision, modern management capacity, and innovative adaptability to advance digital and green transitions. Building a new generation of capable and ambitious business executives has become an urgent priority.

Drawing from key Party directives, Nguyen Duc Hien, Vice Chairman of the Central Commission for Policy and Strategy stated that Vietnam targets an average annual GDP growth rate of 10% or higher during the 2026-2030 period, aiming for a per capita income of approximately US$8,500 by 2030.

To maintain this momentum toward becoming a high-income developed country by 2045, the economy must maintain a 7.5% annual growth rate from 2031 to 2035. Achieving these ambitious targets requires a shift from a growth model relying on capital, low-cost labor, and natural resources to one led by science, technology, digital transformation, and innovation, moving from volume-based competition to value-added competition.

Echoing this view, Phan Duc Hieu, a full-time National Assembly deputy on the Economic and Financial Committee, emphasized that the institutional framework cannot operate under outdated modes as the concept of an "enabling government" turns into legislative action.

The National Assembly now applies a rolling review mechanism: draft laws that are fully refined and backed by quality feedback are voted on immediately, adhering to the principle that earlier approval benefits both society and the business community.

Meanwhile, VCCI Vice President Nguyen Quang Vinh stressed that realizing a double-digit growth scenario requires Vietnamese entrepreneurs to blend core national values with international governance standards. Rather than copying foreign models, Vietnamese business leaders should adopt a long-term vision, transparent management, and a culture of innovation centered on human capital. This foundation will build a generation of globally competitive business leaders who master technology and artificial intelligence while preserving human values, ethical practices, and corporate social responsibility.

"If every CEO links corporate success to the prosperity of Vietnam, the nation will build not only strong enterprises, but also a resilient economy, a responsible business community, and a sustainably developed country," VCCI Vice President Nguyen Quang Vinh affirmed.

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