Corporate giants propose Vietnam gov't measures to help them thrive in new era

Leaders of top Vietnamese companies proposed solutions to boost business development in the new era of growth during a New Year meeting with Prime Minister Pham Minh Chinh on Monday.

Nguyen Viet Quang, CEO of Vingroup, stated that to modernize the country, transition to environmentally friendly vehicles, and develop digital technology, it is essential to develop energy.

"There should be more flexible policies to attract both domestic and foreign investors to participate in the electricity field, helping to ensure sufficient supply and reduce electricity costs," he told the event.

It is also necessary to promote investment in national technical infrastructure, complete the legal framework, and encourage the application of investment models such as public-private partnerships, including BOT (build-operate-transfer), BOO (build-own-operate), and BT (build-transfer), he added.

Vingroup has continuously made strong investments in strategic sectors such as energy infrastructure, green economy, digital economy, and supporting industries for sustainable development, according to Quang.

For example, its subsidiary VinFast not only manufactures electric vehicles but also focuses on building a supporting industrial chain, from producing batteries and installing charging stations to providing smart energy solutions.

“We recognize that increasing the localization rate for VinFast electric vehicles is key to sustainable development, while also promoting domestic supporting industries. VinFast is playing a pioneering role in Vietnam’s green transition wave, creating a strong link between industrial development and environmental protection,” Quang emphasized.

Apart from supporting industries and green energy, Vingroup is boosting the application of digital technology and digital transformation in operation management. The company has implemented research and development in artificial intelligence and big data to optimize production and enhance customer experiences.

Vingroup recently entered a future trend - robotics and multifunctional robots - by establishing two new companies, VinRobotics and VinMotion, to develop optimal solutions for businesses and create "practical, sustainable and humane benefits for people".

Meanwhile, Truong Gia Binh, chairman of tech giant FPT Corporation, highlighted the need to make AI accessible for all, especially as the country eagerly enters a new era for a strong and prosperous Vietnam.

“Opportunities are coming, and I propose that we quickly incorporate AI into education and training programs across all levels of the education system. We can even introduce it right in the first grade. However, what is most needed is the role of the state: providing strong direction to ensure that Vietnam becomes an AI-powered nation as soon as possible,” he stated.

Tran Ba Duong, chairman of conglomerate Thaco, shared that his company will engage in urban railway projects, particularly in the production of train carriages and steel components.

“We also promise cooperation through large-scale projects, which will help small and medium enterprises participate in the production chain,” he added.

In agriculture, after many years, Thaco has established a large-scale, integrated, organic farming model, which has been successfully implemented in Cambodia and Laos.

“I hope this model will help Vietnam become an efficient agricultural producer with a strong brand, competing with countries with developed agricultural sectors,” he noted.

In logistics, Thaco has successfully developed a 50,000-ton container port, connected with southern Laos, northern Cambodia, and Vietnam's Central Highlands. It has also invested in two 1,800 TEU vessels to directly connect Chu Lai to Shanghai, from where goods can be shipped to Europe, the U.S., North China, South Korea, and Japan, significantly reducing logistics costs in central Vietnam.

Tran Dinh Long, chairman of steel giant Hoa Phat Group, said each enterprise is a cell of the economy, and Hoa Phat is no exception. The company is committed to achieving a minimum growth rate of 15% from 2025 to 2030, in order to contribute to the country's goal of achieving double-digit growth during this period.

Currently, the steel industry imports about 30 million tons of ore as raw material for steel production, accounting for 95%. Therefore, Long proposed exploiting the Thach Ke iron ore mine in the central province of Ha Tinh, the largest in Southeast Asia, with an estimated scale of around 500 million tons, to ensure a steady annual raw material supply.

“In the 2025-2030 plan, there is a significant amount of public investment, particularly in urban rail lines in Hanoi and Ho Chi Minh City, as well as the Lao Cai-Hanoi-Hai Phong railway. This presents a huge opportunity for steel businesses,” he noted.

Le Van Kiem, chairman of KN Holdings, proposed the government soon approve the revised National Power Development Plan VIII and the plan for developing renewable energy sources up to 2030.

“For solar energy projects, we recommend investing in energy storage systems to ensure optimal operation and prevent system overload,” he said.

The government’s Decree 80 on direct power purchase mechanism was issued in July 2024, but there are still no detailed guiding circulars or specific regulations regarding related fees.

Kiem expressed his hope that the government will direct relevant authorities to soon complete the legal framework so that Decree 80 can be quickly implemented in practice, helping businesses access clean energy and improve their competitiveness in the global supply chain.

Nguyen Thi Nga, chairwoman of BRG Group, one of Vietnam’s leading economic groups operating in finance, retail, services, and tourism, proposed support policies for construction and carbon-neutral projects, including tax incentives and simplified administrative procedures.

“There should also be research and innovation centers to strongly encourage businesses to adopt clean technology and renewable energy. This will make important contribution to the country's goal of reducing greenhouse gas emissions to net zero by 2050, a commitment that the Prime Minister has made to the international community,” she stated.

Nga also suggested national programs and initiatives on innovation and sustainable development, so businesses can participate and receive guidance.

Meanwhile, Ho Minh Hoang, chairman of “tunnel king” Deo Ca Group, said he wants to see the government specify its ordering private enterprises to participate in key strategic projects such as high-speed rail and urban rail systems.