Vietnam Leading Business Council: Powering Economic Advancement

Tue, 26 Mar 2024 17:03:00  |  Print  |  Email   Share:

The Vietnam Leading Business Council was established by the Executive Committee of the Vietnam Chamber of Commerce and Industry (VCCI) under Decision 0716/PTM-BTT, issued by the VCCI President on April 25, 2023.

The Vietnam Leading Business Council convenes on March 8 to engage in discussions and planning sessions to chart the course for the years ahead

The Vietnam Leading Business Council is positioned to foster the growth of Vietnam’s leading enterprises, serving as the bedrock for a robust business community and a thriving nation. Aligned with the objectives outlined in Resolution 41-NQ/TW, which aims to elevate Vietnam’s business landscape by 2030, the council envisions an expansion of regional and international-class businesses, with influential giants assuming pivotal roles in key industries.

Mr. Pham Tan Cong, President of VCCI and Chairman of the Vietnam Leading Business Council, envisioned the council as a miniature Keidanren model. The council’s mission is multifaceted: to unite, share best practices, and lead industries toward sustainable development.

As an integral part of the VCCI Executive Committee, the council assumes the responsibility of aggregating, connecting, and promoting the growth of large-scale enterprises within Vietnam. By fostering domestic and international collaboration, the council empowers leading firms to drive industry development at both local and national levels. Their leadership extends beyond business peers, contributing to the overall vitality of the Vietnamese business ecosystem.

The council’s mandate extends to groundbreaking policy research and formulation, aimed at cultivating a cohort of nationalistic enterprises that excel across key sectors. These firms secure strategic positions within global supply chains, agricultural value chains and industrial ecosystems, bolstering Vietnam’s economic resilience and integration on the international stage.

Simultaneously, the council actively facilitates communication, trade, and investment promotion for leading Vietnamese businesses. Through knowledge-sharing, value chain creation, research and development initiatives, and collaboration with foreign direct investment (FDI) enterprises, the council propels robust development and sustainable growth across the business landscape.

The Vietnam Leading Business Council will research, propose and implement activities to lead and support sectoral supply chains and SMEs in the sector. In particular, the council will consult Party and State leaders and the VCCI Executive Committee on building a favorable and safe investment and business environment. It will propose solutions and policies to develop key economic sectors and fields to build an independent, self-reliant and internationally integrated economy.

VCCI President Cong outlined five pivotal directions for the Vietnam Leading Business Council. These imperatives serve as the compass guiding the council’s mission: Consulting for the Party and the State in national economic construction and development strategy; consulting on economic development strategies and sectoral development strategies, especially key ones; promoting membership development, member connection and cooperation with domestic and international business communities; speeding up communications to create social consensus and support for large businesses; and building a cohesive team with member care programs, successor training, tailored training programs and cultural exchanges.

“I ask all council members to uphold the spirit of solidarity, innovation and creativity together to overcome all difficulties and challenges and together create new achievements for the country and the business community,” he stated.

According to a draft regulation being discussed by council members, the criteria for selecting its members are Top 10 companies in some industries and business fields. If a company operates in multiple industries, at least one industry must be in the Top 10. Such companies usually meet specific criteria on equity, revenue, profit and labor. Their leaders, chosen to be council members, must have a good reputation in the industry, in the business community and in society.

Mr. Tran Ba Duong, Co-Chair of the Vietnam Leading Business Council, President of the Board of Directors of Truong Hai Automobile Joint Stock Corporation (THACO), said, despite being highly anticipated by the Party and the State, to promote sustainable business development, it is necessary to build leading economic "locomotives". He suggested that each member business in the council be responsible for developing their business well and express their exemplary leadership to promote the Vietnamese business community and give effective advice to the Party and State on solutions to robust economic development.



The Vietnam Leading Business Council consists of 21 founding members who are leaders of top Vietnamese businesses. VCCI President Pham Tan Cong, Thaco Group President Tran Ba Duong and FPT Corporation President Truong Gia Binh are co-chairs of the council. The council was established from the Industry-leading Business Working Group established by the VCCI Executive Committee on May 26, 2022, led by Mr. Tran Ba Duong. The first members include BIDV, BRG, Geleximco, VNPT, TH Group, Phu Thai Group, Vietnam Rubber Industry Group, PNJ, CMC, Kinh Bac Corporation, Doji Group, Loc Troi Group, Dong Tam Joint Stock Company, Viettravel, Hanel and TBS Group.

By: Huong Ly/ Vietnam Business Forum



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