The Vietnamese government held a meeting with top local companies on Monday to discuss tasks and solutions for accelerating the growth of the private sector, contributing to Vietnam’s rapid and sustainable development.

Aside from encouraging and recognizing the contributions of the corporate community, the government, along with many ministries and agencies, exchanged ideas with businesses to address difficulties, remove obstacles, and present solutions to help private enterprises thrive.

Speaking at the meeting, Prime Minister Pham Minh Chinh emphasized that Vietnam has entered the final year of the 13th Party Congress term, which has presented challenges over the socio-economic situation, as well as the national security and defense. 

In 2024, there were some political fluctuations and strategic competition affecting the nation’s development and business activities.

At the beginning of 2025, the global environment presented challenges, requiring enterprises to be well prepared to overcome the hardship. 

The prime minister affirmed that the government always accompanies businesses during their development journey and is committed to supporting them, particularly in addressing bottlenecks to create breakthroughs.

This is especially significant as the government has set a growth target of eight percent or higher in 2025.

Vietnam's gross domestic product grew 7.09 percent last year, greater than the 5.05 percent expansion in 2023, driven by strong exports and robust foreign investment inflows.

According to PM Chinh, moderate growth will not allow the country to achieve its 100-year development goals. 

In the coming years, double-digit growth is necessary, and this year’s GDP growth must reach eight percent.

The government leader also mentioned the importance of the meetings with banks, small- and medium-sized enterprises, and companies from Europe, Japan, South Korea, the U.S., China, and others, to share challenges regarding institutional policies, strategies, and guidelines. 

He emphasized the need to listen to businesses’ concerns, especially regarding land issues, permits, and paperwork. 

The government directed ministries and provinces and cities to report monthly on legal obstacles and submit these reports to the National Assembly for potential amendments.

Among several issues were exempting registration fees for car manufacturing enterprises, waiving VAT for businesses, reducing land rent, water surface rent, and fees, as well as resolving problems related to urban planning, land use, and licensing processes.

The prime minister encouraged businesses to contribute their ideas for solutions, especially concerning institutional hurdles, administrative procedures, and negative phenomena.

He also called on businesses to consider what roles they could play in large-scale national projects and propose policies and mechanisms to make meaningful contributions, provided that these efforts are not for personal gain and adhere to anti-corruption and anti-negative behavior standards.

PM Chinh has urged Truong Hai Auto Corporation (THACO) to explore the production of high-speed rail cars, with the long-term goal of manufacturing locomotives.

He also encouraged Hoa Phat Group to focus on producing high-speed rail tracks and called on FPT to prioritize training high-quality human resources and designing semiconductor chips.

The prime minister expressed confidence that enterprises, leveraging their experience, passion, and dedication, would engage openly and sincerely in shaping Vietnam’s development and improving the well-being of its people.

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