Viettel Chairman: Empowering National “Flagship” Enterprises to Drive Vietnam’s Technological Growth

Mr. Thang supports the Ministry of Finance’s proposal to shift the national development mindset. He envisions a unified ecosystem where state-owned, private, and foreign-invested enterprises link together to complement each other’s growth. Speaking for a major state-owned tech entity, he proposed several measures to maximize the role of these flagship firms.

He advocated for a government-issued list of large-scale enterprises to lead key industries. These entities should receive tasks aligned with their specific strengths, such as developing national technologies and expanding domestic supply chains. Mr. Thang believes flagship companies must generate a ripple effect across the entire economy rather than focusing solely on individual business targets.

He also called for specific guidelines allowing state-owned enterprises to prioritize high-quality Vietnamese products. Furthermore, he recommended new evaluation metrics for these firms, including localization rates and the number of small businesses they support. Such initiatives ensure that flagship projects elevate the entire Vietnamese business ecosystem.

Regarding innovation, Mr. Thang argued that enterprises must sit at the center of product development. He urged the government to remove bottlenecks in public procurement, technology testing, and research commercialization. These steps represent essential prerequisites for long-term investment and increased economic contribution.

He also emphasized the need for a synchronized national logistics master plan. Integrating seaports, airports, railways, and distribution centers will significantly lower costs and improve national competitiveness. A modern network will catalyze e-commerce, exports, and overall economic activity.

Finally, to support international expansion, Mr. Thang proposed allowing state-owned enterprises to create “Investment Promotion Funds” from pre-tax profits. International market research involves high risks and significant costs, which often create hurdles for state-owned entities. A clear legal framework for these expenses would broaden growth horizons and strengthen Vietnam’s standing in the global market.

Source: Vietnam.net