Business leaders, economic specialists confident in 14th National Party Congress policy direction

THE HANOI TIMES — On the occasion of the 14th National Party Congress, business executives and specialists have shared their expectations with Hanoimoi Newspaper.

They hope that the Party and the State will introduce breakthrough decisions that promote cultural development, improve the quality of human resources, refine institutions, enhance the investment and business environment, accelerate digital transformation and strengthen the economy’s competitiveness.

Nguyen Thi Kim Thoa, Chairwoman and Chief Executive Officer of Tan Viet Culture and Education JSC

As an enterprise operating in culture and education, Tan Viet looks to the 14th National Party Congress with confidence and high expectations for strategic decisions that guide national development in the new phase. The Congress is a major political event with special significance in reaffirming the role of culture, people and knowledge in Vietnam’s sustainable development strategy.

Throughout its leadership, the Party has consistently affirmed culture as the spiritual foundation of society and a key driver of development. As Vietnam enters a stage that requires rapid yet sustainable growth, deeper integration and strong digital transformation, the role of culture becomes even more vital, especially reading culture, which underpins a learning society and comprehensive human development.

For this reason, we hope the 14th National Party Congress will continue setting long-term directions that closely link cultural development with human development and the improvement of national human resources.

From our practical experience in publishing, book distribution and education, we see that reading culture has a direct and lasting impact on knowledge quality, critical thinking and social values. A society with a strong and sustainable reading culture can absorb new knowledge, adapt to change and develop on the basis of solid internal capacity.

Looking toward the 14th National Party Congress, we hope it will advance decisions to improve institutions and cultural policies in a coordinated and modern manner, aligned with a socialist-oriented market economy and international integration. Reading culture should form part of the broader strategy for developing Vietnamese people, with close links among families, schools, society and the business community.

Policies that encourage reading, support reading spaces, enhance publishing quality and protect copyright will help reading culture spread widely and sustainably. We commit to accompanying this process, fulfilling the social responsibility of cultural enterprises and contributing to a healthy and progressive reading culture that supports national development in the new era.

Tran Van Hieu, Director of DACE Vietnam Company

I clearly sense the optimism and strong confidence that the 14th National Party Congress brings to the business community.

The socio-economic development decisions introduced at the Congress reflect strategic vision and national aspiration in the new phase, while creating tangible opportunities for the private sector, especially small and medium-sized enterprises.

What reassures and motivates us most is the Party’s consistent commitment to refining the socialist-oriented market economy, improving the investment and business environment, promoting innovation and deepening international integration.

For export-oriented companies like DACE, these directions carry vital importance. They help businesses access global markets more effectively, reduce compliance costs, enhance competitiveness and participate more deeply in international value chains.

Based on these orientations, DACE has focused on renewing itself. In recent years, we have invested in science and technology, developed internationally certified organic raw material areas, built sustainable linkages with farmers in highland regions, improved production processes and enhanced product quality.

Aligned with the Congress’s development directions, DACE will continue investing in high technology, raising productivity, quality and production scale, with a focus on deep processing and building high-value Vietnamese brands. We believe that only enterprises that grow in a healthy, transparent and efficient manner, while linking economic growth with social responsibility, can remain resilient and contribute meaningfully to the economy.

Our confidence in the Party’s sound policies gives us strength to overcome challenges amid global economic volatility. As a small and medium-sized enterprise, DACE clearly understands its role in national development and remains committed to contributing to the goal of a strong and prosperous Vietnam in the new phase.

Economist Associate Professor Dinh Trong Thinh

Achieving double-digit economic growth in the coming period is a major challenge, yet it remains feasible if Vietnam identifies the right growth drivers and applies strong, coordinated solutions. Among these drivers, the private sector must stand at the center and play a decisive role in driving economic breakthroughs.

In reality, the private sector contributes around 40% of GDP, creates more than 80% of jobs and leads in innovation and market adaptation. With proper support, it can generate strong momentum for growth. To reach double-digit growth, policymakers must adopt a consistent approach that treats private sector development as a long-term strategic priority rather than a short-term response.

A top priority is to accelerate institutional reform and remove bottlenecks that restrict private enterprises. The investment and business environment must become more transparent, stable, predictable and cost-efficient.

Cutting unnecessary administrative procedures and business conditions, protecting business freedom and property rights and ensuring fair competition across economic sectors will give private firms greater confidence to expand investment and production.

At the same time, policies should focus on strengthening internal capacity, especially access to capital, land, technology and high-quality human resources. Instead of spreading support broadly, efforts should concentrate on developing large private enterprises with regional and global competitiveness that can lead domestic value chains.

To achieve fast and sustainable growth, the private sector must take the lead in applying science and technology, advancing digital and green transformation, improving productivity and raising value creation. The State should design incentives that encourage firms to invest in research and development, innovation and green growth.

At the same time, Vietnam needs closer coordination between private sector development and other growth drivers, including effective public investment, high-quality foreign direct investment and domestic market expansion. In this process, private enterprises should gain stronger access to major projects, national development programs and global supply chains.

Nguyen Quang Huy, Executive Director of the Faculty of Finance and Banking, Nguyen Trai University

To achieve double-digit growth amid global volatility and intensifying competition, Vietnam needs a comprehensive development strategy that upgrades traditional growth drivers while building new ones in a balanced and sustainable manner.

First, policymakers must clearly define private sector development as a core growth driver for both the present and the future. The key lies not in policy declarations, but in creating a solid institutional framework that allows private firms to operate transparently, securely and efficiently.

The business environment must remain stable and consistent, reduce legal risks and safeguard property rights and business freedom under the law. In parallel, policies should support private firms in accessing long-term capital, land, infrastructure and high-quality labor, enabling the formation of large private enterprises with regional and global competitiveness.

At the same time, public investment should focus on projects with strong spillover effects, prioritizing infrastructure that connects regions and links directly to global logistics networks and supply chains.

Projects such as deep-water ports, international logistics hubs, interregional economic corridors, energy infrastructure and digital infrastructure can unlock growth, lower economy-wide costs and strengthen Vietnam’s global connectivity.

Another breakthrough pillar lies in developing the digital economy, technology and artificial intelligence as new growth engines based on productivity and innovation. Broad digital transformation, widespread digital skills training and gradual expansion of AI access for citizens, businesses and public institutions will create powerful spillover effects.

As digital technology penetrates production, services, agriculture and public administration, the economy can shift toward a growth model driven by knowledge, data and innovation.

For exports, the strategic focus must move toward improving quality and value while aligning growth with green transition, sustainability and evolving international standards.

Raising knowledge content, building Vietnamese brands and shifting from basic processing to deep and refined processing will strengthen Vietnam’s position in global value chains. At the same time, diversifying export markets remains essential to reducing risks and improving resilience.

Nguyen Thi Cam Giang, Lecturer at the Faculty of Finance, Banking Academy

To achieve double-digit GDP growth amid global uncertainty, Vietnam cannot rely on short-term stimulus measures alone. The country needs a productivity-driven transformation built on three strategic pillars: adaptive tax reform aligned with international standards, greater efficiency in public investment and digital economy development supported by green finance.

Low tax rates no longer serve as an effective tool to attract high-quality foreign direct investment. To create breakthroughs, tax policy must shift from outcome-based incentives, such as rate reductions and exemptions, to cost-based incentives.

Mechanisms such as enhanced tax deductions for research and development spending, high-quality workforce training and investment in advanced fixed assets can encourage real reinvestment. These measures help retain multinational corporations while directly improving total factor productivity, a core driver of long-term growth.

At the same time, infrastructure strategy must stay ahead of growth targets. Mobilizing private capital through public-private partnerships with clear and attractive risk-sharing mechanisms remains critical. When expressways, seaports and green energy infrastructure develop in a coordinated manner, spillover effects can boost trade and reduce production costs nationwide.

The digital economy aims to contribute 30% of GDP by 2030. To achieve breakthrough growth, fiscal policy must lead in building a supportive digital ecosystem. Research and adoption of green tax credits for firms that adopt low-carbon production and digital technologies can create new capital flows.

Tax credits directly reduce tax liabilities, unlike tax deductions, which reduce taxable income. Combining green tax incentives with regulatory sandbox mechanisms for digital finance can foster new business models, from fintech to cross-border e-commerce. This approach creates a launchpad for double-digit growth by leveraging the superior efficiency of technology over traditional economic models.

A shift from a control-oriented mindset to a service-oriented approach, combined with modern infrastructure and a strong digital economy, can generate the momentum Vietnam needs to advance confidently into a new era.