Elevating the status of businesses and entrepreneurs in the cause of national construction and development.

On October 10th, General Secretary Nguyen Phu Trong signed and promulgated Resolution 41 of the Politburo on "Building and promoting the role of Vietnamese entrepreneurs in the new era." The resolution outlines many important tasks and solutions aimed at comprehensively developing the business community in the new era, identifying the creation of a favorable, safe, and equitable investment and business environment for enterprises to develop and make worthy contributions to the country as the responsibility of the Party, the State, and the entire political system; and linking the development of the business community with the process of perfecting the socialist-oriented market economy.

JobIssued Resolution 41Coinciding with the "Vietnamese Entrepreneurs' Day on October 13th," this event demonstrates the Party and State's recognition of the significant contributions of Vietnamese entrepreneurs and businesses to the country's development over the past period. It also suggests major directions as a basis for formulating specific tasks and solutions to further develop the entrepreneurial community and businesses in the future.

In recent years, leading international brand valuation organizations such as Brand Finance and Forbes Vietnam have recognized that the Vietnamese National Brand consistently has the fastest growth rate in value globally, increasing by 74% between 2019 and 2022 and continuing to grow by 15.6% in 2023, reaching nearly US$500 billion. The Vietnamese National Brand's current ranking of 32nd among the top 100 strongest national brands in the world is directly due to the brand value of businesses – as their products and services establish a strong position in regional and global markets.

Against the backdrop of the country's economy being negatively impacted by the COVID-19 pandemic and military, political, and economic conflicts around the world, over the past three years, more than 800,000 Vietnamese businesses and entrepreneurs have consistently strived to overcome difficulties, maintain production and business operations, and make significant contributions to the implementation of resolutions of the Party, National Assembly, and Government on economic recovery and development, and maintaining growth targets.

With Resolution 41, the Party and State have acknowledged the important contributions of entrepreneurs and businesses to the country as a whole. However, it has also pointed out limitations and weaknesses that need to be overcome so that entrepreneurs and businesses can develop to match their position and role in the country in the new context.

Previously, Resolution 09 set the goal of “building a strong team of entrepreneurs…; striving to reach 2020There are some entrepreneurs and businesses whose brands have reached regional prominence in Southeast Asia.In this Resolution, the Politburo has raised the bar for the goal, setting specific stages: Striving to achieve this by 2030.Developing the Vietnamese business communityThey should have the scale, capacity, and expertise to meet the country's industrialization and modernization goals. The aim is to have an increasing number of enterprises reaching regional prominence, with some reaching global prominence; some large enterprises playing a leading role in key industries and sectors; some enterprises holding important positions and roles in global supply chains and value chains, mastering several industrial and agricultural value chains, and possessing international competitiveness in fundamental, priority, and cutting-edge industries. By 2045, the goal is to develop a Vietnamese business community with the scale, capacity, and expertise to meet national development goals, high income, and regional and international standing and prestige; a segment of enterprises with world-class brands, leading several global supply chains and value chains.

Therefore, the Politburo also outlined seven key tasks and solutions for the coming period, such as raising awareness of the position and role of the business community in achieving national development goals; focusing on disseminating information and mobilizing the business community to deeply and fully understand their role and mission, inheriting and promoting national traditions, upholding patriotism, and effectively implementing the Party's guidelines and policies, and the State's laws; encouraging the business community to strive to build business ethics and culture; and upholding social responsibility and participating in patriotic emulation movements and campaigns.

To achieve this goal, the Politburo requires central ministries, agencies, and local governments to "ensure a stable, consistent, unified, and transparent legal framework"; to "improve policies and laws, creating a favorable, safe, and equitable investment and business environment"; to ensure "the right to freedom of business, protection of legitimate property rights, entrepreneurship, and the addition of appropriate economic sanctions to handle violations"; "not to criminalize economic relations"; to innovate methods of state management towards a people-centered approach, prioritizing citizens and businesses; and to control and eliminate privileges and monopolies in production and business to "build and promote the role of Vietnamese entrepreneurs in the new era".

Given its scale and significance, it can be said that Resolution 41 has met the expectations of the business community and society as a whole regarding a strong workforce of businesses and entrepreneurs, both in terms of manpower and financial potential, management capacity, and international competitiveness, making a worthy contribution to the country's development in the process of global integration.