The Vietnamese government has repeatedly underscored the role of businesses in national development. Many of them have created credible Vietnamese trademarks and are able to compete with foreign businesses.

Full of dynamism and desire

Vietnamese entrepreneurs have proved their resilience in a highly competitive environment thanks to their dynamism and desire to make a fortune. Their role has risen amid Vietnam’s greater integration into the global economy. To be a winner in global competition, domestic business people have focused on human resources, technology, and a management system for sustainable development. Deputy Prime Minister Vuong Dinh Hue has called for more efforts to be made. He said: “The Vietnamese business community needs to show strong will and creativity to overcome challenges, constantly study, apply new technology and method of management, renew product designs, diversify products and services, and improve marketing. All these things will increase Vietnamese product credibility, conquer the domestic market, and penetrate further into regional and global markets.”

 Government support

Prime Minister Nguyen Xuan Phuc is determined to make Vietnamese businesses thrive. Over the past 2 years, he has attentively listened to them and addressed their problems by reducing business sublicenses. A mechanism for receiving businesses’ opinions and recommendations was established and headed by the Minister and Head of the Government Office. The People’s Committees of provinces and cities, which are under the direct administration of the central government, are required to hold meetings with investors and business people at least twice a year.  A series of draft laws have been submitted to the National Assembly to create momentum for business growth. The government has issued numerous resolutions, decrees, and directives on improving the business environment and competitiveness. Hoang Quang Phong, Vice President of the Vietnam Chamber of Commerce and Industry, said:“We will continue to coordinate with ministries and sectors, especially the Ministry of Science and Technology, to help businesses take full advantage of the 4^th Industrial Revolution and keep up with advanced countries. We will work with partners at home and abroad to provide useful solutions to the business community.”

2016 saw 100,000 new enterprises. The number has continued to rise, on track to achieve the goal of 1 million enterprises in Vietnam by 2020.