Provincial leaders present flowers to the Vinh Phuc Provincial Business Association in recognition of its contributions to local business development

Vibrant and effective activities

“In 2024, Vinh Phuc had 1,550 newly registered companies, up 1.8% from a year earlier, with a combined registered capital of about VND13 trillion. As of December 31, 2024, the province had 17,241 companies, including 70-72% operational companies paying taxes to the state budget,” said Ms. Pham Thi Hong Thuy, President of the Vinh Phuc Business Association.

Strengthening its role as a bridge between businesses and authorities, the association actively provides feedback on key policies, including the amended Land Law, Trade Union Law, and local action programs. The association uses various forms of collecting opinions from associations and member companies like direct deliveries, Zalo mobile application, and via telephone or email. Many of the association’s recommendations are incorporated into policy drafts or submitted to authorities for action. It also conducts regular surveys on business and manufacturing activities among its members. By doing so, the association quickly identifies difficulties faced by local businesses, compiles their recommendations, and submits them to authorities to resolve issues and support enterprises.

Regarding outstanding activities in 2024, the association organized 12 training courses on accounting, tax and human resources; 22 conferences and workshops on digital transformation, e-commerce, and emission reduction solutions; two workshops on business culture, dual transformation, and green, sustainable economy; a direct conference at a chosen company on occupational safety and hygiene. It also opened three training courses on artificial intelligence (AI); and four workshops and training courses on environment law, land law, labor law, food safety and hygiene law and worker-related documents. It conducted three business survey delegations; and carried out independent surveys in nine district and city people's committees and five departments and branches according to the plan of the Provincial People's Committee on improving the business environment and enhancing national competitiveness. The association admitted two new collective members and eight companies, bringing its members to 1,300, including 230 direct members, and established the Legal Affairs Club. Currently, it has nine member associations, five collective members, and four clubs of various fields and professions. Business matching and trade promotion are always prioritized. Every year, the Vinh Phuc Business Association organizes business delegations to take part in programs organized by central agencies and other provinces and hosts business forums for members to seek opportunities to promote and introduce their products and services and use each other's to create cohesion with other companies and reduce business costs. Through its matching activities, many companies successfully had bilateral cooperation and opened representative offices in other provinces. At the same time, the association coordinated with the Department of Foreign Affairs to work with the AKITA Trade Promotion Association of Japan, welcomed and connected businesses when foreign business delegations visited and explored investment opportunities in the province.

In particular, the quality of its activities has been increasingly improved, and is highly appreciated by the Party and authorities, thus engaging many local companies like the Young Entrepreneurs Association, the Tourism Association, the Women Entrepreneurs Association, and some district/city business associations. The Vinh Phuc Business Association has professional departments and the Business Training, Consulting and Support Center which always actively and creatively launch diverse and attractive activities for businesses. Human resources, accounting, import and export, and legal affairs clubs are truly the extended arm of the association to businesses and are forums for sharing experiences and updating information and mutual support policies in professional activities. The association actively develops business culture and fosters corporate social responsibility while businesses always care about the lives of workers and fulfill their responsibilities to the community.

The Vinh Phuc Business Association serves as a focal point for the local business community, fostering connections, advocating for members' rights, and providing support to drive business development

Contribution to the nation’s development

In recent years, the province has continuously made strong impressions with its comprehensive socioeconomic development and became a leading light in investment attraction in Vietnam. Vinh Phuc aims to become a developed industrial province and one of the industrial, service and tourism centers of the region and the country. According to the Prime Minister's Decision 158/QD-TTg dated February 6, 2024 on ratification of the Vinh Phuc Provincial Planning for the 2021-2030 period, with a vision to 2050, the province strives to achieve an average GRDP growth of 10.5-11% a year to 2030 and achieve an expected GRDP per capita of VND325 million a year by 2030. This sets new requirements for the province's socioeconomic development and business development.

Vinh Phuc affirms that: “Investors are valued citizens of the province, and their success is integral to the province’s own prosperity”. The Party and government of the province always support businesses with policies toward sustainable development by improving the investment and business environment, attracting high-tech firms with green development and environmental protection approaches, actively removing mechanism bottlenecks, providing the best conditions for businesses investing in Vinh Phuc, and attracting giant firms to invest in Vinh Phuc so as to enable the province to obtain double-digit growth in 2025.

To support businesses, the Vinh Phuc Business Association continues to expand connectivity and gather businesses and entrepreneurs; and actively support them in law, expertise, management skills, training and human resources, especially training and fostering business leaders in management capacity, operation, and production and business organization in a methodical, effective and legal manner. Particularly, the association promotes business linkages by industry and field of operation to share experiences and cooperation opportunities and attract more members to participate. It organizes business surveys and leads business delegations to attend forums and seminars hosted by the Vietnam Chamber of Commerce and Industry (VCCI) and other provinces. The association also cooperates with its peers in the region to support enterprises and its members in expanding input supply sources and consumer markets.

Following the government, the Vinh Phuc Business Association coordinates with specialized agencies to advise provincial leaders to organize dialogues with enterprises to seek solutions to existing difficulties and supports enterprises to access policies in line with the province's Small and Medium-sized Enterprises Support Project. The association adheres to Resolution 57/NQ-TW of the Politburo on breakthroughs in science, technology, innovation and national digital transformation; continues to propose the Provincial People's Committee on digital transformation in enterprises and digital economic development; and develops business connection software to meet information and reporting requirements, support businesses to promote trade, improve competitiveness, and join production chains, value supply chains and international integration.

"The Vinh Phuc Business Association remains a strong supporter for the business community, fostering a robust business ecosystem that contributes to the country's growth," said Pham Thi Hong Thuy.