According to Mr. Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI), after nearly 40 years of Doi Moi (Renewal), Vietnam’s business sector has made significant progress in both scale and quality, with approximately 1 million enterprises currently in operation. Many enterprises have expanded their presence regionally and globally, gradually establishing their position in global supply chains, contributing around 60% of GDP, accounting for 98% of total export turnover, and generating employment for approximately 85% of the country's workforce.

However, the business sector continues to face a number of limitations. The majority of enterprises remain small in scale, with limited competitiveness and operational efficiency, while management capabilities remain constrained. Meanwhile, the business mindset of many enterprises is still characterized by a short-term focus and lacks strategic vision.

The world is undergoing major transformations, including the emergence of new industries, shifts in investment flows, the restructuring of global trade, rising tariff barriers, and the risk of trade conflicts. These changes present both challenges and opportunities for Vietnamese enterprises to make breakthroughs, provided they adopt appropriate development strategies.

Hoang Quang Phong, Vice Chairman of the Vietnam Chamber of Commerce and Industry (VCCI).

In this context, the Program for Developing 1,000 Pioneering Enterprises, approved by the Prime Minister under Decision No. 631/QD-TTg dated April 6, 2026, is expected to establish a core group of private-sector enterprises with regional and international competitiveness, playing a leading role in driving economic growth.

Under the program’s objectives, by 2030, Vietnam aims to develop 1,000 pioneering enterprises, including at least 200 fast-growing enterprises achieving outstanding breakthroughs; 20 enterprises deeply participating in global value chains; and at least 15% of enterprises owned by women.

These enterprises are expected to demonstrate high labor productivity and advanced technological capabilities, fulfill social responsibilities, and contribute to the formation of core businesses in key industries and sectors. Through this, they will help enhance national competitiveness and promote the private sector to become the most important driving force of the economy.

The Program also sets out a number of specific criteria for pioneering enterprises. Accordingly, participating enterprises are required to allocate an average of at least 3% of their revenue to research and development (R&D) activities, and strive to own at least one patent, industrial property right, or utility solution.

In addition, enterprises are expected to apply advanced management models and sustainable development standards such as ESG, ISO 14001, ISO 45001, ISO 50001, ISO 26000, as well as sector-specific standards including GMP, HACCP, GlobalGAP, VietGAP, and Organic certification, among others. These requirements aim to enhance competitiveness and meet the demands of international markets.

To be selected for participation in the Program, enterprises must have operated continuously for at least three years, fully comply with legal regulations, have recorded profits in at least two of the past five years, or have invested in expanding production and adopting technological innovations to improve productivity and supply capacity.

In addition, enterprises are required to possess innovative products or core technologies; have export products or products capable of replacing imports, thereby contributing to higher localization rates; and maintain long-term development strategies, transparent governance practices, and commitments to sustainable development.

VCCI Vice Chairman Hoang Quang Phong said that the State will implement six groups of support policies for pioneering enterprises, including support for investment procedures, customs procedures, and stock market listing; support for product testing, certification, and public procurement; financial and credit support; support for science and technology development, innovation, digital transformation, and green transformation; as well as assistance in improving management capacity, trade promotion, and market development.

The Ministry of Finance is currently drafting a Circular guiding the implementation of the Program to specify the support mechanisms. Under the draft, pioneering enterprises will receive priority access to credit based on future-formed assets or intangible assets such as patents, data, and cash flows. They will also receive support for costs associated with the use of laboratories and testing equipment.

At the same time, the Ministry of Finance is seeking comments on a draft Circular guiding the Program on Training and Developing 10,000 Chief Executive Officers (CEOs) by 2030. The beneficiaries of the program will be management personnel in the private economic sector, ranging from chairpersons and general directors to heads of specialized departments and divisions. The program is expected to be implemented through three forms: scholarship vouchers, in-person training, and online training via digital platforms.

"With the support of accompanying policies, private enterprises need to proactively pursue innovation, digital transformation, and sustainable development. In particular, large enterprises must promote their leading role and support small and medium-sized enterprises in participating in value chains, while each enterprise should continue to enhance management capabilities, invest in research and development, and build brands in international markets," Mr. Phong emphasized.