Strengthening Development and Connection of Vietnamese Businesses and Entrepreneurs

8:32:03 AM | 5/8/2023

Prime Minister Pham Minh Chinh stated at the 7th National Congress of the Vietnam Chamber of Commerce and Industry (VCCI), in the 2021-2026 term, “The most important and overarching task of VCCI is to effectively gather, connect and promote the strength and solidarity of the Vietnamese business community to help solve big problems that the country is facing.”

The Prime Minister judged that VCCI has significantly contributed to the current strong Vietnamese business community. As a national agency that gathers and represents businesses, entrepreneurs, employers and business associations in Vietnam, VCCI has made important contributions to the country’s overall achievements.

To date, VCCI has nearly 200,000 member companies. With unremitting efforts, VCCI has gradually become the largest trade and investment promotion agency in Vietnam, a companion to businesses, a reliable partner of the Government and an important agent to the country's economic development in the context of regional and international economic integration.

Fostering cooperation and coordination to support businesses in various fields

In the past time, VCCI has supported the business community of all economic sectors in many aspects: Gathering and putting forth proposals for a better business investment environment for enterprises; fostering domestic and foreign trade and investment promotion; supporting capacity building for the business community, especially small and medium-sized enterprises (SMEs); consulting on laws, integration, labor and issues relating to production and business operations of enterprises; and resolving disputes that may arise in business relationships. Particularly, reinforcing business connection, support and coordination is of great significance to assisting and developing the business community.

VCCI soon braced indirect support for businesses by establishing a system of business associations in provinces, cities and localities, as well as in various fields, industries and professions. VCCI has also strengthened cooperation and coordination with local authorities and business associations to improve the business environment, promote trade and investment; and establish regional business association councils. It initially authorized and guided associations to represent local employers and build up capacity for employers.

Business support has been strengthened through business associations, along with VCCI’s common activities led by the VCCI Executive Committee whose members are representatives from business associations.

Specially, the voice and recommendations of enterprises are compiled and passed by VCCI to competent central and local authorities for effective troubleshooting and solutions, thus gradually creating trust and spreading positive effects in the business community about the prospects of Vietnam's business environment.

To further improve the business environment in a more favorable way for businesses, in the coming time, VCCI will continue to work closely with business associations in monitoring and gathering recommendations regarding administrative procedures. At the same time, the agency will strengthen briefings with industry and local business associations to promptly grasp and propose solutions to major problems of sectors, regions, and localities to facilitate business operation and development.

VCCI will continue to intensify the connectivity among industries, regions and business associations to upgrade the investment and business environment and enhance the competitiveness of enterprises and localities; bolster business development, facilitate business startups; boost trade and investment promotion and increase the working capacity of trade associations, hence contributing to the development of the business community and the economy.

Mr. Tran Tuan Anh (right), Head of the Party Central Committee’s Economic Commission and Mr. Pham Tan Cong, President of VCCI chair the meeting with business representatives on the implementation of Resolution 09-NQ/TW of the Politburo (11th term), September 2022

Raising the position of Vietnamese businesses and entrepreneurs

As a representative of the business community, VCCI was assigned to advise the Politburo (9th term) to issue Resolution 09-NQ/TW dated December 9, 2011 on building and promoting the role of Vietnamese entrepreneurs in the period of accelerating industrialization, modernization and international integration. Immediately after the resolution was promulgated, General Secretary Nguyen Phu Trong had a meeting with VCCI and representatives of the business community to direct and develop an action plan for the implementation of the resolution and to affirm the right policies of the Party and State on business and entrepreneur development. Resolution 09 innovatively changed perception; affirmed, honored and promoted Vietnamese enterprises and entrepreneurs in economic development, national construction and defense; and put forth solutions to build and develop the Vietnamese business force in the new context.

Currently, VCCI is assigned by the Government to coordinate with the Central Economic Commission to carry out the "Review Project on 10-year Implementation of Resolution 09-NQ/TW of the 11th Politburo on building and promoting the role of Vietnamese entrepreneurs in the period of accelerating industrialization, modernization and international integration" and completed the draft resolution in place of Resolution 09 and submitted it to the Politburo for consideration.

In the coming time, business associations and the business community will necessarily continue to study and regard the new resolution as a replacement for Resolution 09-NQ/TW on business and entrepreneur development as a guideline and an orientation to clearly define the roles of businesses and entrepreneurs and responsibilities of government agencies, the community and society in building businesses and entrepreneurs in the new context of the Fourth Industrial Revolution and digital application.

Among VCCI’s important tasks is fostering business ethics and business culture in Vietnam. Carrying out this approach, VCCI has developed the Program "Promoting Vietnamese business culture in 2021-2026" and announced and inspired all enterprises and entrepreneurs to adopt the Six Codes of Entrepreneurial Ethics. This is also an important content that helps develop and direct young generations of entrepreneurs toward sustainable and humane development of the Vietnamese business community.

Throughout 60 years of development, VCCI has been and will continue to boost the strength, solidarity and cooperation of the Vietnamese business community, to enhance business support and development, and develop Vietnam into a thriving nation.

Bui Trung Nghia

Vice President of VCCI