Speaking at the award ceremony honoring "The 2026 Outstanding Vietnamese Entrepreneurs - Thanh Giong Cup," held on October 11 to celebrate Vietnam Entrepreneurs’ Day (October 13), Standing Deputy Prime Minister Pham Gia Tuc stressed this imperative while congratulating 100 outstanding business leaders receiving the award.

He expressed deep appreciation for the persistent efforts and vital contributions of the business community to national socio-economic development, social welfare, and the international prestige of Vietnam.

Mr. Tuc stressed that the Thanh Giong Cup recognizes exceptional business achievements while promoting legitimate wealth creation, corporate ethics, business culture, and a spirit of service to the nation. Within the national economic structure, Party and State documents consistently confirm that enterprises form the core force and primary growth engine, reflecting the core principle that a strong economy requires strong enterprises, and business growth brings national prosperity, he said.

However, he also pointed out persistent bottlenecks within the corporate sector. According to the Standing Deputy Prime Minister, the number of large-scale enterprises capable of leading key industries remains limited, competitive capacity across sectors remains uneven, and integration between domestic firms and foreign direct investment enterprises remains weak.

Furthermore, he said, foreign value chain participation falls short of expectations, while barriers in accessing capital, land, technical infrastructure, technology, and high-quality human resources continue to present major challenges.

As 2026 marks the first year of the Five-Year Socio-Economic Development Plan (2026-2030), this foundational period will prove decisive for accelerated growth.  To unlock social resources and transform the investment climate, he urged state management agencies to innovate their mindset and management approaches. Operational capacity must transition toward a constructive and service-oriented model centered on citizens and businesses, measuring performance through business community satisfaction, tangible results, and public trust, he added.

He assked government authorities across all levels to focus on three primary tasks.

First, agencies must perfect legal frameworks and build a transparent, equitable investment environment while resolving legal hurdles for enterprises.

Second, authorities need to establish proactive support mechanisms that help domestic businesses expand scale, enhance internal capacity, and strengthen supply chain integration.

Third, the government must create new growth drivers and development spaces for Vietnamese firms to expand confidently into regional and global markets.

Faced with strategic opportunities and fierce global challenges, the Standing Deputy Prime Minister outlined four strategic requirements for business leaders.

“Entrepreneurs must nurture greater ambition by aiming beyond domestic processing to build internationally recognized Vietnamese brands that master core technology and lead global value chains. They must hone capacity by prioritizing investment in science, technology, advanced management models, and human resources,” he said.

“Business leaders must also demonstrate higher social responsibility through strict legal compliance and sustainable job creation, while pioneering research and development, digital transformation, and green transitions as investments in long-term competitiveness.”