The concept of “national enterprises” has been mentioned for over 20 years but still lacks a clear definition. Experts suggest that Vietnam needs to define national enterprises not only by ownership percentage or scale, but by cultural identity and technological capability, as these are the foundation for sustainable development.

Vietnamese Enterprises Must Master Technology

On October 8, under the direction of the Vietnam Real Estate Association, the Vietnam Real Estate Electronic Magazine (Reatimes) coordinated with the Vietnam Institute of Real Estate Research (VIRES) to organize the Workshop “Building and Promoting the Strength of National Enterprises for Vietnam’s Prosperity Ambition”. The event is an important pillar in the Communication Project on the historical mission of the private economy, and also an occasion to honor the Top 40 exemplary private enterprises after 40 years of renovation, representing the spirit of “Think Big – Do Real – Contribute Continuously”.

Overview of the workshop

After 40 years of renovation, the private economic sector has become a pillar of the economy, contributing nearly 50% of GDP, over 30% of total state budget revenue, and creating jobs for more than 80% of the national workforce. However, to realize the ambition of a strong Vietnam, many experts believe it’s time to clearly establish the concept of “national enterprises”, as these are important entities carrying Vietnamese identity, intelligence, and ambition.

In the opening speech, it was emphasized that after 40 years of renovation, the private economic sector has not only grown in scale but has also become a pioneering force in creativity, innovation, and integration. National strength comes not only from resources but primarily from people who know how to turn ambition into action. “Every brand, every project of Vietnamese enterprises is a brick contributing to building the prosperous house of the Fatherland,” it was stated.

Image 2

At the Workshop, it was argued that to create a strong nation, there must be strong enterprises. Enterprises are the key factor determining the nation’s self-reliance and self-strengthening capacity. It was cited that in 2024, Vietnam’s exports reached about $400 billion, but the FDI sector accounted for 75%, while domestic enterprises only “exported on behalf of” foreign corporations, showing the economy’s continued dependence, low added value, and lack of core technology.

From this reality, three strategic directions were emphasized. Among them, Vietnamese enterprises must master technology and develop manufacturing industries using national internal strength; the economy needs to be based on the pillars of production and technology rather than just trade or real estate; simultaneously, real estate needs to shift from short-term investment channels to infrastructure platforms for sustainable industrialization and urbanization. It was suggested that the strength of national entrepreneurs and self-reliant nations must come from the goal of “building a peacock’s nest”, gathering talent, and creating Vietnam’s intellectual strength.

The Core of a Self-Reliant Economy

From a research perspective, it was noted that the concept of “national enterprises” has been mentioned for over 20 years, but to date, there is still no clear definition and set of criteria.

According to this view, in the context of a world full of “four uncertainties” – instability, uncertainty, insecurity, and unpredictability – strengthening national self-reliance capacity becomes increasingly urgent. From international experience, it was suggested that national enterprises are determined based on four criteria, including domestic ownership percentage; contribution to the economy; national cultural identity; and contemporary factors such as technology, environment, and green economy. From this, it was proposed that Vietnam needs to soon build a set of criteria comprising 9 elements, combining both quantitative and qualitative aspects to serve as a basis for policy planning and nurturing national entrepreneurs through appropriate financial, monetary, and credit tools.

Image 3

From the perspective of foreign affairs and integration, it was argued that the ambition to develop a strong country lies not only at the national level but also spreads to each individual and each enterprise, who are directly creating value and innovating.

According to this view, the world is entering an era of digital transformation and green

Vietnam Real Estate Association

The Vietnam Real Estate Association (VREA) is a professional social organization established to represent and support businesses operating in Vietnam’s real estate sector. It was founded to promote the sustainable development of the industry, advise the government on policy, and protect the legitimate rights and interests of its members. The association plays a key role in connecting professionals and fostering a healthy real estate market in the country.

Vietnam Real Estate Electronic Magazine (Reatimes)

The Vietnam Real Estate Electronic Magazine (Reatimes) is a leading online news platform in Vietnam, established to provide timely news, in-depth analysis, and market reports on the country’s real estate sector. It serves as a crucial information hub for investors, professionals, and the public, chronicling the development and fluctuations of the Vietnamese property market since its inception.

Vietnam Institute of Real Estate Research (VIRES)

The Vietnam Institute of Real Estate Research (VIRES) is a leading research institution in Vietnam dedicated to the real estate sector. It was established to provide in-depth analysis, market reports, and policy recommendations to support the sustainable development of the country’s property market. VIRES plays a key role in advising government agencies, businesses, and investors through its applied research and professional forums.

Top 40 exemplary private enterprises

“Top 40 exemplary private enterprises” is not a specific place or cultural site, but rather an official honor or ranking list issued by the Chinese government. This designation recognizes the country’s most successful and compliant private companies for their contributions to economic growth, innovation, and social responsibility. The list, which is periodically updated, reflects China’s economic policies and the evolving landscape of its private sector since the late 20th century.

Workshop ‘Building and Promoting the Strength of National Enterprises for Vietnam’s Prosperity Ambition’

This is not a physical place or cultural site, but a workshop event. Its purpose is to discuss strategies for strengthening Vietnamese national enterprises to contribute to the country’s economic growth and prosperity ambitions. The event itself is a contemporary forum focused on future economic development goals.

Communication Project on the historical mission of the private economy

This appears to refer to a Chinese initiative rather than a physical place. The “Communication Project on the Historical Mission of the Private Economy” is a campaign in China that promotes the role and contributions of the private sector to the nation’s development. It was launched to highlight the historical importance of private businesses within the framework of China’s socialist market economy.

Vietnam’s exports

Vietnam’s export economy has transformed dramatically since the 1980s, shifting from a primarily agricultural base to a major global manufacturing hub. Historically known for commodities like rice, coffee, and seafood, the country now relies heavily on electronics, textiles, and footwear. This growth has been fueled by economic reforms and integration into global supply chains, making Vietnam one of the world’s fastest-growing export economies.

FDI sector

The term “FDI sector” refers to the portion of a country’s economy that is funded and operated by Foreign Direct Investment. This sector is created when foreign entities establish business operations or acquire substantial ownership in domestic assets, such as building factories or opening service centers. Historically, the growth of the FDI sector has been a key strategy for many developing nations to accelerate economic development, transfer technology, and create jobs since the late 20th century.