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Vietnam needs to build national corporations to boost growth



Vietnam’s Ministry of Planning and Investment emphasised the pivotal role of national and large-scale corporations in driving the country’s economic growth amid global challenges. Highlighting the strategy to boost these enterprises to enhance production and achieve an independent economy, Planning and Investment Minister Nguyen Chí Dung advocates for developing a distinct business community to foster self-reliance. Inspired by successful international models, Vietnam seeks to leverage these corporations to spearhead industrialisation and modernisation, supporting the growth of SMEs and their integration into global value chains. Data from the Development Strategy Institute shows that Vietnam’s top 500 private enterprises significantly surpass smaller counterparts in workforce and assets, playing a crucial role in employment, revenue, and state budget contributions.

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