Vietnam identifies the private economy as the most important growth engine

Anh Vũ |

The General Secretary welcomed leaders of corporations, thanked the companionship and contributions of international businesses to the socio-economic development of Vietnam.

On the afternoon of March 26, 2026, at the Party Central Committee Headquarters, General Secretary To Lam received leaders of more than 40 large international corporations and businesses that are members of the Asian Business Council.

The General Secretary welcomed the Asian Business Council to organize the 2026 Spring Forum in Hanoi on the theme "Asia and the future of the global supply chain" in the context of the global supply chain being restructured and clearly shifting, digital transformation and artificial intelligence emerging as new infrastructure for production and trade, businesses playing an important role in shaping new value chains, promoting trade, investment, technology and data flows.

Emphasizing that Vietnam's economy is a socialist-oriented market economy under the leadership of the Communist Party of Vietnam and the management of the State, the General Secretary shared Vietnam's development achievements and major orientations to create a stable, transparent, highly adaptable environment, making Vietnam a strategic destination for global investment capital flows, a center for science, technology, innovation and digital transformation.

The General Secretary emphasized that the 14th Party Congress has identified Vietnam's long-term visions and orientations, especially the establishment of a new development model based on 5 strategic pillars.

In this process, Vietnam identifies the private economy as the most important driving force for growth; the foreign-invested economy is an important part of the economy, treated equally, encouraged for long-term, sustainable development, cooperation, linkage and healthy competition with other economic sectors. Vietnam is ready to accompany businesses in creating more efficient, greener, more sustainable and more resilient supply chains; committed to being a reliable partner, a responsible member and an attractive destination in the global and regional economic network.

Representing the business delegation, Mr. Arif P. Rachmat, Chairman of the Asian Business Council, thanked the General Secretary for taking the time to receive the delegation, expressed his impression of Vietnam's socio-economic development achievements in the past time; congratulated the successful results of the 14th Party Congress, highly appreciated and expressed confidence in Vietnam's potential as well as strategic development orientations in the new development stage.

Leaders of corporations were impressed with Vietnam's strengths in attracting foreign investment; affirmed to continue to contribute to Vietnam's development in a faster and smarter direction to enter a new stage of development; committed to constantly expanding both the scale and investment fields in Vietnam.

Anh Vũ
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