Prime Minister Pham Minh Chinh highlights solidarity, cooperation, dialogue at annual Vietnam Business Forum

Prime Minister Pham Minh Chinh speaks at the forum. (Source: Nhan Dan Newspaper)

The forum was organized by the Ministry of Finance, the World Bank, the International Finance Corporation, and the Vietnam Business Forum Alliance. Attendees included leaders from ministries, central agencies, ambassadors, representatives from diplomatic missions, international organizations, associations, businesses, and investors both domestic and international.

According to Minister of Finance Nguyen Van Thang, to affirm the commitment to green development, Vietnam has issued several key directives such as the National Green Growth Strategy for 2021-2030, with a vision to 2050; the National Action Plan on Green Growth for 2021-2030; and the circular economy development project...

The choice of the theme “Businesses Accompany the Government: Green Transition in the Digital Era” reflects the Government's strong determination to attract high-quality investment and promote sustainable growth. It underscores the crucial role of the FDI business community in the green transition process based on principles of inclusive, equitable development, harmonizing benefits, and ensuring no one is left behind.

At the forum, delegates highly appreciated the economic situation and prospects of Vietnam, as well as the challenges in achieving future goals. They also put forward proposals for businesses to accompany the Government in the green transition during the digital era. The forum also allocated time for leaders from various Vietnamese ministries and sectors to discuss, clarify, and address issues of concern to the business community.

Delegates praised Vietnam's development strategy, particularly in science, technology, innovation, digital transformation, green economy, and digital economy. The business community expressed readiness to join hands, contribute, and wholeheartedly support the Government in steering and executing strategic visions, creating a rapidly developing, sustainable, and globally competitive Vietnamese economy in the new era.

Overview of the annual Vietnam Business Forum. (Source: Nhan Dan Newspaper)

Suggesting the need to continue improving the investment and business environment towards green transition in the digital era, delegates proposed that Vietnam should further refine the institutional framework for science and technology development; promote innovation and the digital economy; encourage technology transfer, and strengthen linkages between domestic and FDI enterprises.

Delegates also proposed solutions for infrastructure development, human resources, and implementing green energy transition for sustainable growth; promoting cooperation to develop a circular economy, carbon market, and sustainable green innovation; developing green finance and digital transformation in the banking sector; capital markets to drive sustainable growth; a stable tax environment with incentives for the business community...

Vietnam's economy resilient to external shocks

Speaking at the forum, Prime Minister Pham Minh Chinh praised the forum's theme and the insightful, candid, objective, and constructive contributions reflecting the aspirations of the delegates.

The Prime Minister emphasized the spirit of “unity gives us strength, cooperation gives us benefits, dialogue strengthens trust”, “listening and understanding together; sharing vision and aspiration together; working, winning, and developing together”, “harmonizing benefits, sharing risks”.

Discussing Vietnam's socio-economic situation, investment, and business environment, the Prime Minister noted that despite numerous challenges over 80 years of national independence, as a developing country with a transitioning economy, under the leadership of the Party, management of the State, involvement of the business community, support of the people, and international friends, Vietnam's socio-economic situation continues to develop positively, achieving significant accomplishments across various fields.

Vietnam has robustly overcome numerous challenges such as the Covid-19 pandemic, natural disasters, floods, and non-traditional challenges to maintain macroeconomic stability; effectively control inflation, budget deficit, public debt, and government debt; and ensure major balances. Vietnam's economy is resilient to external shocks, maintaining a growth rate among the highest in the world.

GDP in 2025 is expected to grow over 8%; averaging 6.3% during 2021-2025. Social welfare is ensured, the people's living standards are improved, and Vietnam's happiness index rises 37 places to rank 46 in 2025; political and social stability, social welfare is ensured, with approximately 1.1 million billion VND allocated for social welfare; national defense and security are strengthened; foreign relations and international integration are enhanced.

Vietnam has established comprehensive partnerships, strategic partnerships, and comprehensive strategic partnerships with 38 countries, including all five permanent members of the United Nations Security Council and 17 G20 members; signed 17 free trade agreements with leading global economies.

Discussing the determination to reform and improve the investment and business environment, the Prime Minister stated that Vietnam has decisively and effectively streamlined and reorganized the two-tier local government apparatus, promoting decentralization and delegation; shifting from administrative management to serving the people and fostering development.

Delegates attending the annual Vietnam Business Forum. (Source: Nhan Dan Newspaper)

Particularly, vigorously implementing the Politburo's key Resolutions, including those on breakthroughs in science and technology development, innovation, and national digital transformation; international integration in the new context; breakthroughs in institutional building and law enforcement; private economic development...

Vietnam is accelerating administrative procedure reforms, cutting and simplifying nearly 4,300 business regulations, administrative procedures, and citizen documents; continuously improving the investment and business environment.

Vietnam's Global Innovation Index in 2025 ranks 44th out of 139 countries and territories. The E-Government Development Index in 2024 ranks 71st out of 193, up 15 places compared to 2020. Vietnam is a bright spot in attracting FDI, with total FDI in 2021-2025 estimated at 185 billion USD, up nearly 9% compared to 2016-2020, and among the top 15 developing countries attracting the most FDI globally.

Affirming the significant economic achievements of Vietnam, partly contributed by private enterprises, including the FDI sector, the Prime Minister warmly welcomed, appreciated, and thanked the important, positive contributions of the business community, investors both domestic and international, and development partners throughout the years.

Pointing out some existing limitations of enterprises, the Prime Minister noted: Investment quality, technology level, and technology transfer in some projects remain limited; the localization rate is still low; the linkage between domestic and FDI enterprises is not yet truly tight and effective.

The number and scale of investments in high-tech, green, clean, and environmentally friendly projects are still modest; some localities have not yet met the demand for high-quality human resources for large-scale, high-tech FDI projects.

State as facilitator, enterprises as pioneers

Informing the forum about the orientation, goals, tasks, and solutions for Vietnam's socio-economic development in the coming time, with the ambition to reach the vast ocean, soar into space, and delve deep into the earth to achieve the two strategic 100-year goals, the Prime Minister stated that promoting green economy and digital economy development is a mandatory requirement, in line with development trends; digital economy development must be linked with green economy, circular economy, knowledge economy, and sharing economy; contributing to building an independent, self-reliant economy associated with deep, substantive, and effective international integration.

Prime Minister Pham Minh Chinh with delegates attending the annual Vietnam Business Forum. (Source: Nhan Dan Newspaper)

Therefore, green and rapid but sustainable development is strongly implemented and committed to by Vietnam; hoping for international friends to support, assist, and cooperate with Vietnam in terms of capital, technology, management, and market...

Vietnam focuses on maintaining political stability, ensuring social order and safety; promoting three strategic breakthroughs in institutions, infrastructure including hard and soft infrastructure, developing high-quality human resources, with open institutions, seamless infrastructure, and smart management; restructuring the economy associated with renewing the growth model; maintaining macroeconomic stability, promoting growth, ensuring major economic balances; connecting Vietnam's economy with other countries worldwide, between Vietnamese and FDI enterprises, and between Vietnamese enterprises and global enterprises.

Along with that, promoting public-private cooperation, encouraging the participation of all societal entities; accelerating administrative procedure reforms, improving the investment and business environment; green economy and digital economy development must be implemented through the State's governance and macroeconomic regulation role and materialized through the awareness and actions of each citizen, social organization, and business community; developing synchronized, modern green and digital infrastructure, especially logistics infrastructure, smart cities, data centers, 5G networks, and cloud computing.

On the part of the business community and investors, with the motto “State as Facilitator, Enterprises as Pioneers, Public-Private Partnership, Prosperous Nation, Happy People, Entrepreneurs Benefiting”, the Prime Minister urged enterprises to take the lead in achieving green transition goals; connect and support each other in the development process; develop sustainably according to ESG criteria (Environment - Society); further enhance awareness, role, and social responsibility regarding environmental and green growth issues, especially actively participate in contributing opinions in the process of building, completing, and implementing laws on environment, green economy, and sustainable development.

Enterprises need to adapt to the dual transition of digital and green transformation, implementing digital transformation in production and business, boldly investing in new machinery, equipment, and technology to reduce energy consumption; complying with commitments on sustainable development and green growth, focusing on environmental and social indicators in each product.

Stating that no country or economy can maintain the old mindset, relying solely on traditional growth drivers to develop rapidly and sustainably, the Prime Minister highlighted that transitioning, seeking, and creating new growth drivers is an objective and inevitable trend in today's world.

The Prime Minister stated that with the motto “Discipline, Responsibility; Proactive, Timely; Accelerate, Innovate; Effective, Sustainable”, the Government will focus on directing ministries, sectors, and localities to act promptly, strive, and resolve to overcome all difficulties, challenges, maintaining the spirit of overcoming challenges, unity, self-reliance, proactive adaptation, flexibility, decisive, scientific, effective action, actively innovating, and creating to successfully achieve the goals and tasks set by the Party and the National Assembly in 2025, laying the foundation for completing the 5-year socio-economic development plan for 2021-2025 and the 10-year socio-economic development strategy for 2021-2030.

Addressing proposals and recommendations from businesses and noting that the Government is working to resolve long-standing projects with the spirit of “harmonizing benefits, sharing risks”, the Prime Minister expressed confidence that with the spirit of cooperation, responsibility, and long-term vision, the business community will continue to accompany Vietnam, together creating a green, competitive, and sustainable economy, for the common prosperity of the region and the world; contributing to Vietnam's steady progress into a new era, an era of peace, prosperity, civilization, happiness, and steady progress towards socialism.

Some images of Prime Minister Pham Minh Chinh attending and speaking at the annual Vietnam Business Forum (VBF):

Prime Minister Pham Minh Chinh attends the Forum. (Source: VNA)

Prime Minister Pham Minh Chinh with attending delegates. (Source: VNA)

Prime Minister Pham Minh Chinh attends the annual Vietnam Business Forum. (Source: VNA)

Annual Vietnam Business Forum. (Source: VNA)

Mr. Ho Sy Hung, Co-Chair of the Vietnam Business Forum Alliance, speaks. (Source: VNA)

Mr. Thomas Jacobs, Acting Director of the International Finance Corporation (IFC) for East Asia-Pacific, speaks. (Source: VNA)

Ms. Mariam Sherman, World Bank Country Director for Vietnam, Cambodia, and Laos, speaks. (Source: VNA)

Minister of Finance Nguyen Van Thang speaks. (Source: VNA)

Delegates attending the annual Vietnam Business Forum. (Source: VNA)