National Pride and Entrepreneurship Will Make a Difference

6:20:29 AM | 9/2/2021

As one of the three actors in a market economy, how will the business force play a role in the industrial revolution 4.0, in a country with the tradition of national pride like Vietnam?

The economic forecast for the year "Tan Suu- Golden buffalo 2021"

According to data from economic research organizations in the world, due to the impact of the epidemic, the world economic growth in 2020 will decrease by about 5 to 7% compared with the average growth rate of the world economy in previous years and the world economy need at least 2 to 3 years to recover the growth rate in the period before the epidemic broke out and spread. Economies that have not been able to solve structural problems and shortcomings for a long time, and are most dependent on the service industry, are all negatively affected.

According to the Japanese news agency Nikkei on December 29, 2020, the International Monetary Fund's (IMF) forecasts on real GDP for each country in Southeast Asia summarize the forecast for 2019 as 100. Vietnam, along with Indonesia and Malaysia both scored above 100 for 2021, which means that the economies of the three Southeast Asian countries will grow at a higher rate in 2021 than before the outbreak of COVID-19. Vietnam is forecast to lead the group of six Southeast Asian countries including Vietnam, Indonesia, Malaysia, Singapore, the Philippines and Thailand, with the growth index forecast at 108.4. S&P Global forecasts that Vietnam's economy will grow 10.9% in real terms by 2021, more than any other country in the Asia-Pacific, after growing 2.91% in the year 2020

Orientation for the period of 2021-2025

The year 2021 is the first year we implement the Socio-Economic Development Plan 2021 - 2025. The Government has set out important economic and business development orientations: Improving the institution, proactively participating in the Fourth Industrial Revolution and Digital Transformation. Accelerate the building of a policy and legal framework for the building of e-government towards digital government. Continue to amend and complete the system of policies and laws, create a fair, transparent and open business environment. Develop and complete the legal framework for new business models applying high technology and household economy.

In addition, it is necessary to effectively exploit the domestic market, free trade agreements, to expand and diversify export markets; minimizing negative effects from trade conflicts to exports. To attract investment in, develop large-scale commodity agriculture in the direction of modernization and application of high technology; Green, clean, smart, adaptive to climate change, associated with processing, preservation and consumption industries. To create favorable conditions for the fast, sustainable and diversified private economy in both size and quality; support to transform production and business households into enterprises ...

Entrepreneurship is the driving force for economic development

As one of the three actors in a market economy, how will the business force play a role in the industrial revolution 4.0, in a country with the tradition of national pride like Vietnam?

An expectation on the economic development of Vietnam in the year of Tan Suu and an active orientation to improve the institution of the Government in the coming years has strongly promoted the Vietnamese community's ambition to do business. These will be the strong driving forces of the economy after the recession caused by the Covid 19 pandemic.

It can be said, never much has been mentioned about the contribution of revolution 4.0 to the economic development of each country in the future like today. However, it is certain that the business force has always been the forerunner of industrial revolutions in the world since the early days of the first industrial revolution in the late eighteenth century, from the beginning of the nineteenth century and it was associated with famous business names in industries in England, then spread to many other industries and to many other countries, firstly the US, European countries and Japan. In the beginning of this revolution, commodity production in the textile industry was initially based on simple, small-scale manual technology, and manual labor shifted to large-scale mechanical means and machinery thanks to the application of technical inventions in industrial production. In Asia, the country of the rising sun, Toyoda Sakichi is often referred to as the father of the Japanese industrial revolution during its most difficult period of history. In his memoirs, Toyoda Sakichi recounted, the main motive for him making history contributing to today's Japan becoming the third economic power in the world was the image of a mother to work too hard on the loom simple textile frame. He later said that another equally important driving force that drove his creativity was national narcissism. Because the Sakichi Toyoda period lived, the wave of industrialization and mechanization was very strong. But once attending an exhibition in Japan, Sakichi Toyoda never saw a machine invented by the Japanese on display. Although he did not have much education, but in mind Sakichi Toyoda came up with the thought of not accepting that reality and cooking the Japanese consciousness will also invent many things. And the first weaving machine devised by Sakichi Toyoda proves that

Like Japan, patriotism is a prominent tradition in the value system of the Vietnamese nation. That tradition is the common denominator, the endogenous resource of the ethnic community. Vietnamese patriotism is not only the ideology and feelings but has become the philosophy, patriotism, will, courage, determination and action of each human being. Even in the ASEAN community, there is a common perception that if we talk about national pride in the region, there is no country more than Vietnam in protecting the color of the flag, shirt ...

Regarding the nation's patriotic tradition, President Ho Chi Minh affirmed: "Our people have a passionate patriotism. It is a precious tradition of ours. From the past to the present, every time the Fatherland is invaded, the spirit was excited again, it combined into a very strong, big wave, it passed through all dangers and difficulties, it engulfed all traitors and aggressors"

The Vietnamese spirit of patriotism, family and race love was also expressed in the days of the fight against Covid-19. With the spirit of "not leaving anyone behind", everyone is cared for and cared for. Only in times of trouble can we see that the two words "fellowman" have such spiritual and great significance. The children of our country who live far away from the homeland not only want to return to their motherland for protection, tolerance, to be well shared, but also ready to help the country. Patriotism is the most important quality of a true citizen.

According to the National Brands 2020 report of British brand valuation firm Brand Finance, Vietnam has emerged as a new manufacturing "paradise" in Southeast Asia and has a strong increase in national brand value in the world in 2020, going against the global trend of decline caused by the COVID-19 pandemic. British brand valuation firm said that the national brand value of Vietnam has increased by 29% compared to last year, up to 319 billion USD. As a result, Vietnam has increased 9 ranks to 33rd in the Top 100 most valuable national brands in the world.

As one of the three main actors of the market economy, Vietnamese entrepreneurs need to actively raise awareness so that they can put their traditional patriotism and business ambition in the challenges and opportunities of Current country:

1. The end of the Covid 19 pandemic and the trade tensions of major economic powers

2. Industrial Revolution 4.0 with great opportunities to transform a more competitive business model

3. To closely strengthen ASEAN and East Sea cooperation as the basis for sustainable bilateral and multilateral economic cooperation for the world's third largest market of 650 million people and the East Sea is of economic strategic importance and Great security. More than 90% of the world's commercial transport is carried by sea and 45% of which must go through the South China Sea with trade worth nearly 5.5 trillion dollars per year. Many countries and territories in East Asia have economies dependent on this sea route, such as Japan, Korea, Taiwan (China), Singapore and even China. The region is also the cornerstone of lucrative fisheries, crucial to the food security of hundreds of millions of people in Southeast Asia. There are huge oil and gas reserves that are believed to be on the seabed (According to China, the oil and gas reserves in the East Sea are about 213 billion barrels, of which the oil reserves in the Spratly Islands can be up to 105 billion barrels).

According to the General Statistics Office, in 2020, the whole country will have over 100,000 enterprises suspending their business for a definite period, suspending operations, waiting for dissolution procedures and completing dissolution procedures, an increase of nearly 20% over the same period in last year. In the New Year and the coming time, we will certainly have to overcome many challenges and difficulties. However, with the Government's economic and business development orientation as well as the strong development of the market, Vietnamese Entrepreneurs with the will to maximize their business ambition and national prides, they will proactively not only realize the high growth expectation of economic forecasts, but also make a difference through the display of more Vietnamese products at industrial exhibitions at home and abroad right in the year of "Golden Buffalo" and the coming years.

By Dr. Doan Duy Khuong, VCCI Vice president