At the celebration of Vietnamese Entrepreneurs' Day on 11/10, Permanent Deputy Prime Minister Pham Gia Tuc affirmed that enterprises are the core force of the economy, directly creating wealth, jobs, and resources for the nation.

"A strong economy is built on strong enterprises; as enterprises develop, the nation prospers", he said.

According to the Deputy Prime Minister, the business community's role becomes even more decisive in the face of double-digit growth targets. This contribution is evident not only in the number and size of enterprises but also in productivity, growth quality, innovation capacity, and the economy's self-reliance.

Permanent Deputy Prime Minister Pham Gia Tuc speaking at the Vietnamese Entrepreneurs' Day celebration. Photo: TTXVN

Permanent Deputy Prime Minister Pham Gia Tuc speaking at the Vietnamese Entrepreneurs' Day celebration. Photo: TTXVN

The country currently has nearly 1,1 million active enterprises, contributing over 60% of GDP, approximately 55% of total state budget revenue, and creating jobs for about 17,6 million workers. In the first nine months of the year, GDP increased by 9,01%, with Quarter III alone seeing a 9,95% rise. Nearly 224.000 new enterprises were established and resumed operations.

The Deputy Prime Minister acknowledged the significant contributions of the business community and entrepreneurs to the economic achievements in the early months of the year.

However, he noted that the enterprise sector has not yet developed commensurate with its potential. The number of large enterprises remains limited, competitive capacity is uneven, and linkages between domestic enterprises and those with foreign direct investment (FDI) are not yet strong. Many entities have not deeply integrated into global value chains, while challenges related to capital, land, infrastructure, technology, and human resources persist as bottlenecks.

He stated that Vietnamese enterprises cannot solely rely on low costs or labor advantages. To enhance competitiveness, enterprises need to improve governance, productivity, product quality, build brands, and gradually master technology, moving towards higher-value stages.

However, beyond market, technology, and resources, the Deputy Prime Minister said enterprises also require a stable, transparent, and predictable business environment, coupled with consistent policies and an administrative apparatus that provides timely resolution.

"Some challenges, from the perspective of management agencies, might seem like mere procedures or regulations, but for enterprises, they represent costs and investment opportunities, impacting the very existence and development of an entire project, or even an enterprise", he said.

Therefore, the government's partnership with enterprises must first involve genuine listening. Once they have listened, management agencies must take responsibility for promptly resolving issues, following through, and measuring success with concrete results.

In Quarter III, VCCI compiled and forwarded 202 business recommendations to ministries and sectors, with over 72% being fully resolved. By 30/9, the time for processing procedures had decreased by 53%, and compliance costs had fallen by approximately 55%, equivalent to about 23.000 billion VND annually.

According to him, reform outcomes need to be continuously strengthened through clear actions and responsibilities. Effectiveness must be demonstrated by the time and actual costs saved by enterprises, and their trust in public authorities.

Alongside institutional improvements, the Deputy Prime Minister called for removing barriers to accessing capital, land, infrastructure, technology, and human resources. Small and medium-sized enterprises need enhanced access to funding and more opportunities to participate in supply chains.

He proposed establishing an ecosystem that helps small enterprises mature, medium-sized enterprises grow, and large enterprises develop leadership capabilities. State-owned, private, and FDI enterprises need to collaborate more effectively, creating additional value in Vietnam.

"The state should not replace enterprises, but must create the most favorable, transparent, equitable, and secure environment for enterprises to confidently invest, conduct business, innovate, and develop", he said.

Regarding entrepreneurs, the Deputy Prime Minister expressed his wish for them to set higher goals, invest in technology, governance, and human capital, and gradually build brands with international standing. Enterprises need to proactively research, master products, and consider investment in research and development, data, digital transformation, and green transition as foundations for the future.

According to him, enterprise success is also measured by the jobs created, the development of employees, and contributions to society. Entrepreneurs must uphold the law, engage in fair competition, care for employees, and protect the environment.

At the ceremony, 100 entrepreneurs were honored with the title of Outstanding Vietnamese Entrepreneur - Saint Giong Cup. According to enterprise data declared in documents submitted to VCCI, the enterprises led and managed by this group had a total revenue in 2025 of approximately 1,34 trillion VND, pre-tax profits of nearly 248.000 billion VND, contributed about 97.000 billion VND to the state budget, and created jobs for approximately 273.000 workers.

Phuong Dung