Hanoi entrepreneurs call for bold reforms to drive sustainable economic growth

THE HANOI TIMES — Business leaders and economists shared with The Hanoi Times their insights on the growing role of Hanoi’s business community and their expectations for the city’s 18th Party Congress, which will take place from October 15-17.

Mac Quoc Anh, Vice Chairman and General Secretary of the Hanoi Small and Medium Enterprises Association (HANOISME): Great expectations for breakthrough reforms

As Vietnam pursues its goals for 2030 and 2045, entrepreneurs play an increasingly vital role. They act as economic drivers and “economic citizens” contributing to national prosperity and social progress.

Many Vietnamese companies such as Vingroup, FPT, Hoa Phat, TH Group and Viettel have set strong examples in advancing growth and building Vietnam’s global image.

In this new development stage, society must recognize entrepreneurs as a strategic force shaping the country’s development model and actively engaging in its socio-political life.

Businesses expect the upcoming 18th Hanoi Party Congress and 14th National Party Congress to introduce transparent, stable and long-term policies, empower enterprises through pilot mechanisms and continue administrative reforms in investment, land and taxation.

Hanoi should pioneer innovation and technology zones, startup hubs and research campuses to attract talent and encourage entrepreneurship.

Local business associations like HANOISME and VCCI need to strengthen their representative and consultative roles.

Entrepreneurs hope the congress will reaffirm the private sector’s position as a key driver of Vietnam’s sustainable economic growth.

Nguyen Van, Vice Chairman of the Hanoi Supporting Industries Business Association (HANSIBA), Vice Chairman of the Board at N&G Group: Entrepreneurs now have a strong foundation

Over more than four decades since Vietnam’s economic reforms, the business community has grown rapidly, becoming a vital force for national progress.

Entrepreneurs today are leaders and sources of inspiration, fueling confidence and ambition for the country’s future.

Thanks to the Government’s supportive approach and effective policies, Vietnamese entrepreneurs now stand on a solid foundation built by key Party and State resolutions. These have created new momentum and clear direction for the business community.

These long-awaited resolutions offer a roadmap and guiding principles for production and investment.

To seize these opportunities, every entrepreneur must reflect, define goals and position their businesses strategically.

They need to understand both domestic and global challenges while complying with national laws and international trade standards.

As the 18th Hanoi Party Congress and 14th National Party Congress approach, the business community looks forward to bold policy decisions that will open a new phase of growth and reaffirm the entrepreneur’s central role in Vietnam’s development.

Phan Duc Hieu, Member of the National Assembly’s Economic Committee: Effective implementation will elevate the private sector

The Party and the State have always valued the private sector and placed high expectations on its growth.

The Politburo’s Resolution No. 68-NQ/TW, issued on May 4, 2025 marked a major breakthrough by defining the private economy as one of the main driving forces of the national economy.

The National Assembly has also adopted a series of macroeconomic stabilization policies, regulatory reforms and enterprise support measures to help businesses adapt to global challenges.

In 2025, the Government aims to cut administrative time by 30%, reduce business costs by 30% and eliminate 30% of unnecessary regulations. It also targets a fully digital administrative process to ensure efficiency, transparency and smooth interaction between enterprises and state agencies.

If Resolution No. 68 is carried out effectively, it will strengthen Vietnam’s private sector and raise its competitiveness. However, without strong and consistent action, even the best policies will remain unfulfilled promises.