2:30:45 PM | 10/14/2025
Eighty years ago, President Ho Chi Minh sent a letter encouraging Vietnam’s business community, underscoring the pivotal role of entrepreneurs in national construction and defense. Over time, Vietnamese entrepreneurs have driven sustainable growth, advanced global integration, and strengthened the country’s international standing through innovation and entrepreneurship.
Historic milestones
In his historic letter dated October 13, 1945, President Ho Chi Minh wrote: “While other groups of our people are striving to win complete independence for the nation, the business community must work to build a strong and prosperous economy and financial system.”
Prime Minister Pham Minh Chinh and outstanding entrepreneurs at the meeting to celebrate Vietnamese Entrepreneurs’ Day, Hanoi, October 9
He further emphasized: “The Government, the people, and I will wholeheartedly support entrepreneurs in this endeavor. National affairs and private affairs always go hand in hand. A prosperous national economy means prosperous business enterprises.”
To build on this tradition, encourage enterprise development, and strengthen the entrepreneurial community in line with the goals of industrialization and modernization, on September 20, 2004, Prime Minister Phan Van Khai signed Decision 990/QD-TTg designating October 13 as Vietnamese Entrepreneurs’ Day, following a proposal from the President of the Vietnam Chamber of Commerce and Industry (VCCI) and various business associations.
Since then, Vietnamese Entrepreneurs’ Day has become an important annual occasion to honor and recognize entrepreneurs for their contributions to sustainable national development. The day also symbolizes the close connection between business and the country, bridging history with the future.
At the recent scientific conference “President Ho Chi Minh with Enterprises and Entrepreneurs - From Memories to Aspirations for Nation-Building” held in Ho Chi Minh City, Le Quoc Minh, Editor-in-Chief of Nhan Dan Newspaper, Vice Chairman of the Party Central Committee's Commission for Information, Education and Mass Mobilization, and Chairman of the Vietnam Journalists’ Association, remarked that from the earliest days of the nation’s founding, President Ho Chi Minh paid great attention to and placed strong trust in the business community. Guided by his vision, over the past 80 years, the Party and State have consistently valued, encouraged, and supported the growth of Vietnamese entrepreneurs.
The business community plays an important role in driving the nation’s development
The 6th National Party Congress in 1986 marked a major milestone by launching the Doi Moi (Renovation) reform and officially establishing a multi-sector economic policy. Particularly significant was the Politburo’s Resolution 09-NQ/TW, issued on December 9, 2011, on building and promoting the role of Vietnamese entrepreneurs in the period of accelerating industrialization, modernization, and international integration. For the first time, the role of entrepreneurs was formally recognized in the 2013 Constitution.
At its 5th Plenum, the 12th Party Central Committee issued Resolution 10-NQ/TW (2017) on developing the private sector as an important driver of a socialist-oriented market economy.
On October 10, 2023, the Politburo adopted Resolution 41-NQ/TW on building and promoting the role of Vietnamese entrepreneurs in the new era. Continuing this trajectory, on May 4, 2025, the Politburo issued Resolution 68-NQ/TW, affirming the private sector as the most important driving force of the economy. This not only carries forward the spirit of “benefiting the nation and the people” expressed in President Ho Chi Minh’s 1945 letter but also creatively advances the principles of previous resolutions.
The Party and the State have consistently accompanied entrepreneurs, adopting a series of laws and policies to create a favorable business environment. As a result, Vietnamese entrepreneurs have become a core force in building an independent, self-reliant economy and realizing the aspiration of a prosperous and happy country.
Growing stronger and reaching global heights
In the early 1990s, Vietnam had just over 5,000 enterprises. Today, that number has exceeded 970,000, along with around 30,000 cooperatives and more than 5 million household businesses. Together, they form the core of the economy, creating wealth, driving growth, generating jobs, raising incomes, reducing poverty, and contributing to social stability.
At a meeting with outstanding entrepreneurs on Vietnamese Entrepreneurs’ Day, October 13, 2024, General Secretary To Lam emphasized that entrepreneurs, through creativity and risk-taking, establish businesses that fuel growth, generate employment, contribute taxes to the State, raise living standards, and advance social progress. Many talented entrepreneurs have guided their companies through challenges, becoming pillars in key sectors of the economy with international competitiveness. An increasing number of entrepreneurs are shifting toward technology and innovation, entering new industries and new business models, and mastering the achievements of the Fourth Industrial Revolution to enhance production efficiency, strengthen competitiveness, and improve quality of life. Many Vietnamese brands have already expanded to global markets.
Notable examples include Pham Nhat Vuong, Chairman of Vingroup, whose strategic vision has taken VinFast Auto electric vehicles to the global stage, reflecting Vietnam’s ambition to build world-class brands. Truong Gia Binh, Chairman of FPT Corporation, has led Vietnam’s leading technology group into many international markets. In telecommunications, Senior Lieutenant General Tao Duc Thang, Chairman and CEO of the Viettel Group, has transformed the military-run enterprise into a global player with operations across several continents.
Other prominent business leaders include Tran Dinh Long, Chairman of Hoa Phat Group, known as Vietnam’s “steel king,” who has expanded from steel production into agriculture and furniture manufacturing; Tran Ba Duong, Chairman of Truong Hai Auto Corporation (THACO), who laid the foundation for Vietnam’s automobile industry while investing heavily in high-tech agriculture and logistics; and Nguyen Dang Quang, Chairman of Masan Group, a pioneer in consumer goods and processed foods.
Women entrepreneurs have also made a strong impact. Nguyen Thi Phuong Thao, President and CEO of Vietjet Air, pioneered low-cost aviation in Vietnam, transforming travel habits for millions. Mai Kieu Lien, CEO of Vinamilk, has elevated Vietnamese dairy to global markets. Thai Huong, founder of TH Group, is recognized as a trailblazer in high-tech agriculture and clean food for community health.
Beyond their role in economic development, Vietnamese entrepreneurs actively participate in social welfare, philanthropy, education, and community support during natural disasters and pandemics. Many companies dedicate profits to building schools, hospitals, and charitable housing, spreading humanitarian values and social responsibility.
In today’s new development phase, Vietnamese entrepreneurs are no longer focused solely on expanding markets or maximizing profits. Their vision now includes sustainable development, innovation, and elevating national value. They recognize their central role in digital transformation, green production, the knowledge economy, and adapting to globalization, while carrying the aspiration of taking Vietnamese brands further onto the world stage.
In the face of global economic volatility, strategic vision, resilience, and a spirit of innovation will be decisive for entrepreneurs to contribute effectively to building a strong, self-reliant, and prosperous Vietnam. This is the generation of entrepreneurs who dare to think big, act fast, and pursue long-term value for both the community and the country.
Anh Mai (Vietnam Business Forum)
Vietnamese
