Vietnam has great opportunity to achieve stronger development

The ongoing 13th National Party Congress is believed to set out a breakthrough way to promote the rapid and strong development of high-tech industries and fields in the time ahead.

Mac Quoc Anh, vice president and General Secretary of the Hanoi Association of Small and Medium Enterprises, says that 35 years on after the initial implementation of the Doi Moi (Renwal) process, under the leadership of the Party, local businesses have consistently enjoyed growth in both quantity and quality.

“The nation is facing a great opportunity to develop a contingent of businesses and entrepreneurs capable of compete with other countries in the region. In particular, an important factor is to accelerate the digital transformation of businesses.

To build an e-Government, e-businesses and digital enterprises are needed. We wish that the digital economy in the next term will further develop so that businesses, especially small and medium-sized enterprises, will make fundamental changes as a means of improving their competitiveness in international economic integration,” he emphasizes.

According to Anh, both the Party and State must adopt policies aimed at forging closer links between small and medium-sized enterprises, start-ups, craft village enterprises, along with five million individual business households. This can therefore serve as the foundation which can provide a stronger boost to the national economy.

With regard to international economic co-operation, Assoc. Prof. Dr. Nguyen Anh Thu, deputy rector of the University of Economics - Hanoi National University, underscores the necessity of fine-tuning institutions in a bid to attract high-quality foreign investment. The ongoing congress is believed to have set out a breakthrough way in which to promote the rapid and strong development of high-tech industries and fields, an effort which will serve to meet the goal of turning the country into a prosperous nation in the future.

“First of all, the high-quality FDI inflow must be in line with Vietnam's development orientation. For example, if Vietnam is strong in the agricultural sector, it can develop high-tech agriculture. Besides, we must have criteria such as value added to the budget. That is the criterion of research and development for these businesses. In addition, it is essential to attract high-tech workers or deal with environmental protection issues. In my opinion, this should be clearly defined to attract high-quality capital,” Dr. Thu states.