The Government leader chaired a conference on businesses contributing to double-digit growth and the Prime Minister’s appreciation of the business community in Hanoi on March 27.

At the conference, Deputy Minister of Finance Cao Anh Tuan said the double-digit growth target is an urgent requirement to prevent the risk of falling behind and to lay the foundation for Vietnam to become a high-income developed country by 2045.

Businesses are placed at the centre of the policy system and are the central actors in the growth process. The private sector is the most important driver of the economy. State-owned enterprises play a leading role, guiding the private sector and focusing on key sectors and core technologies. Foreign-invested enterprises are an important additional resource and need closer linkages with domestic firms while increasing technology transfer.

“The double-digit growth target is not just about speed. It also requires transforming the development model and improving national competitiveness,” Cao Anh Tuan said.

He added that this is more than an economic task; it is a strategic mission to help the country overcome the middle-income trap and realise the goal of becoming a high-income developed country by 2045. In this process, businesses must become a pioneering force, driving innovation and building Vietnam’s position in the global economy.

At the conference, participants proposed improving institutions, reforming the investment environment and shifting from pre-check to post-check mechanisms. They also proposed building a legal framework for new economic models (sandbox), especially in artificial intelligence, financial technology and semiconductors.

Public investment should continue to play a leading role, alongside the selective attraction of international investment funds. The business community also expressed determination to pioneer innovation, green transition and governance improvement; strengthen self-reliance; and enhance production capacity in strategic industries to achieve technological autonomy, contributing to double-digit growth.

In his remarks, the Prime Minister said that entering the 2026-2030 period, the 14th National Party Congress has reaffirmed the target of average growth of 10% or higher per year, describing it as an “order of the nation” to move Vietnam firmly into a new era of prosperity, civilisation and development.

He noted that both international and domestic contexts present challenges, including rising trade protectionism, geopolitical conflicts, climate change, population ageing, resource depletion and energy transition. Growth can no longer rely on traditional drivers such as exports, investment and consumption, but must shift strongly to a new model based on science and technology, innovation, digital transformation, the green economy, the circular economy and the creative economy.

PM Chinh underlined the need to “reach out to the seas, go deep underground and fly high into space”, encouraging Vietnamese businesses to pursue comprehensive development, make breakthroughs in infrastructure and science and technology, and affirm the country’s position.

“Our perception of businesses has changed. We clearly see the mission of businesses in fast and sustainable national development. So what should businesses do? Businesses must be the central actors in this process of reform and development. They must both contribute to building policies and institutions and organise and implement them effectively,”  PM Chinh said.

The Government chief urged stronger linkages among member enterprises, domestic and foreign businesses, and cooperation for development. He also called for greater trade promotion both domestically and internationally by bringing together major producers and exporters by sector. He further stressed the need to continue representing member businesses in policy advocacy, protecting their interests in disputes, and coordinating closely with central and local support agencies to implement programmes and policies effectively.

For businesses, he asked them to actively work with the State to develop shared national digital platforms and open data with broad impact, and to build shared platforms that enable people to start businesses and develop flexible, small-scale startup models based on digital platforms and artificial intelligence. He also encouraged participation in national-level science and technology programmes and key projects in priority sectors.

PM Chinh also called for focusing resources on research and development and innovation, promoting the commercialisation of research results, and improving production capacity, particularly in strategic industries, towards self-reliance and autonomy in science and technology. It is essential to make use of free trade agreements as an important tool to expand markets, improve competitiveness and participate more deeply in global value chains, he emphasized.

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