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Vietnamese “Eagle”: The desire to build a nest, “pump money” for the economy to take off

Domestic enterprises themselves always aspire to assert their strength, even connect with foreign enterprises to grow stronger.
Talking to reporters around the topic of nesting “domestic” eagles in the context of the economy in the new normal, leaders of some Vietnamese enterprises constantly talked about self-reliance, self-reliance and self-reliance. expect the economy to develop in depth.
Sharing with PV Dan Tri, Assoc.Prof.Dr. Vu Minh Khuong – Lee Kuan Yew University, Singapore – emphasized that the proportion of added value in Vietnam’s exports is still very low. Without a drastic shift in quality, it is difficult for Vietnam to achieve the high growth (usually above 8%) that the miracle economies of East Asia achieved during their “take-off” period.
However, what worries the CEO of this business is that despite strong international integration and competition, most domestic enterprises are still lacking and weaker than FDI enterprises in all three “pillars”. The most important ones are: Capital, technology and corporate governance.
The market of 100 million people and the battle on the “home field”
Aspirations have, difficulties are many… so what is the problem that domestic enterprises need and should do now?
Mr. Than Duc Viet said that it is necessary to be fair in the application of investment incentives between domestic and foreign enterprises, avoiding the situation of giving priority to attracting investment from foreign enterprises.
“Policy makers should reshape preferential policies, protect Vietnamese enterprises to develop, and become corporations capable of competing with the world’s leading corporations. Related policies. from pricing policy, connection, land, planning… must be appropriate, timely, stable and encouraging” – Mr. Viet expressed.
According to him, when Vietnamese entrepreneurs have succeeded to a certain extent, business development will no longer be for them personally, but towards bigger goals than creating value for the community. nation.
“Domestic enterprises themselves always aspire to assert their strength, even connect with foreign enterprises to become stronger and stronger” – Mr. Viet emphasized.
Sharing the same view, Mr. Nguyen Hai Duong – General Director of M2 Vietnam Joint Stock Company – said that enterprises will be “stronger” if they can do business in a fair environment. They can compete fairly with FDI enterprises in an equal environment.
Besides policy issues, businesses also emphasize self-reliance. Support from the Government is important and necessary, but creativity and adaptability are decisive for the survival of enterprises.
According to CEO M2, the Vietnamese market of 100 million people is very potential, so world-famous retail brands are present more and more, creating great pressure on domestic retail businesses.
In the face of a “fight” with foreign businesses on their home turf, Mr. Duong said Vietnamese enterprises had to increase the number of large-scale stores and centers in big cities in the country. Along with that is a commitment to good prices, diverse products, comprehensive services and leading fashion trends to compete.
Vietnamese Eagle: The desire to build a nest, pump money for the economy to take off – 3
Under pressure from the wave of foreign enterprises, domestic enterprises are struggling to compete.
In the context of the general difficulties of the Covid-19 epidemic, import and export activities were affected,
Mr. Than Duc Viet emphasized, enterprises themselves had to adjust their business strategies in the direction of gradually increasing the proportion of revenue. domestic market, reducing dependence on external markets to adapt to new circumstances.
At the recent seminar “New strategies in fighting the epidemic and economic development”, Mr. Nguyen Sy Dung – former Deputy Chairman of the National Assembly Office – also emphasized: If we want to be strong, we want to turn into a dragon. If the tiger turns into a tiger, it must definitely be industrialized, there must be a leading enterprise, the State creates conditions for enterprises, so we can rise to compete with the world.
“If we are completely dependent on foreign countries, then we cannot master our industrial future,” emphasized the former Deputy Chairman of the National Assembly Office.
Another leading economic expert also stated that it is necessary to rely on domestic capacity, rely on domestic economic forces, and consider the private economy as an important driving force. Private enterprises must be Vietnamese enterprises.
According to him, Vietnam is already in the context of the new world, and Vietnam has also signed a series of new generation large trade agreements. The opportunity is that Vietnamese enterprises – economic entities will benefit from what is set out, if the opportunity is too great and we do not prepare the capacity, others will enjoy it.

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