Large enterprises have not yet exploited their full potential.
On September 21, the Government Standing Committee Conference with large private enterprises to remove difficulties, promote the pioneering role, proactively participate in investing in large projects, contributing to socio-economic development took place under the chairmanship of Prime Minister Pham Minh Chinh.
At the conference, Minister Nguyen Chi Dung informed that in nearly 40 years of implementing the renovation policy, with the correct policies and guidelines of the Party and State, Vietnam now has more than 930,000 operating enterprises, of which 98% are small and medium enterprises, about 14,400 cooperatives and more than 5 million business households.
In 2023, the private economic sector will contribute about 46% of GDP, generate about 30% of state budget revenue, and attract 85% of the workforce. Among them, a large private enterprise force has emerged, accumulating sufficient capacity in terms of capital scale, technology level and corporate governance, with brands in the regional and world markets, becoming important driving forces of the economy, such as Vingroup, Thaco, Hoa Phat, etc.
However, reporting at the conference, Minister Nguyen Chi Dung acknowledged that the business community in general still faces many difficulties and challenges; large enterprises still have many barriers and limitations; have not fully exploited their potential, and have not performed their pioneering and leading roles as expected.
Specifically analyzing, the Minister said that the production and business activities of the enterprise sector in general and large-scale enterprises in particular are still subject to many adverse impacts of objective contexts, geopolitical conflicts, and disruptions in supply chains and input materials.
In addition, there are still some problems and shortcomings in the institutions and laws. Decentralization, delegation of power, and reduction of some regulations and administrative procedures are not thorough.
Although a team of medium and large enterprises has emerged, they have not really become the leading force of the economy as expected.
The development process of our country's business community is still young compared to other countries in the region and the world, and has not yet accumulated much capital, knowledge, technology, experience, and business traditions.
The scale of enterprises in the economy is mostly small and medium, lacking original technology, lacking the potential to digitize and green business operations. The proportion of enterprises participating in the manufacturing and processing sector is still limited.
The operations of large enterprises are still relatively independent, the connection, spread and leadership are not clearly demonstrated when the proportion of small and medium enterprises participating in the supply chain of large domestic and FDI enterprises is still low. Large enterprises have not yet fully performed their pioneering role, leading the development process of small and medium enterprises, as well as the economy.
Large enterprises play a pioneering role
By the end of 2023, the total assets of large private enterprises attending today's conference will reach about 70 billion USD. The mobilization of this asset, along with the technology, knowledge, management skills, and high-quality human resources of enterprises, will add a large resource to the economy, contributing to ensuring the autonomy of the country's economy.
Minister Nguyen Chi Dung also urged the large business community to proactively take the lead and pioneer in big, difficult, and new tasks, solving national-level problems to create momentum for economic development and create room for development for small and medium-sized enterprises in other fields.
In addition, in addition to business activities aimed at generating revenue and profits, large enterprises need to join with large corporations and state-owned corporations to invest in new areas of the 4.0 industrial revolution, meeting the requirements of shifting towards green development trends; participating in major national projects...
According to the Minister, large enterprises need to promote their pioneering role in innovation, digital transformation; technology transfer, proactive joint ventures, associations, orientation, leadership, and creating opportunities for small and medium-sized enterprises to participate as subcontractors and develop together along the value chain.
"The Government hopes that businesses will promote their pioneering spirit and proactively join the Government in successfully achieving socio-economic development goals. The success of businesses is also the success of the country," Minister Nguyen Chi Dung affirmed.
