Vietnamese enterprises, especially those in private sector, must reform themselves and take advantage of the fourth industrial revolution to develop sustainably while contributing to national growth, said President Trần Đại Quang. — VNA/VNS  Photo Nhan Sáng

HÀ NỘI — Vietnamese enterprises, especially those in private sector, must reform themselves and take advantage of the fourth industrial revolution to develop sustainably while contributing to national growth, said President Trần Đại Quang. 

He made the call at the launch of the “entrepreneurship innovation programme for national sustainable development” held by the Việt Nam Private Business Association in Hà Nội yesterday. 

The programme is an important move in implementing the Party and State’s resolution and instructions on developing the private economic sector and promoting the role of local businesspeople in national construction and protection, the President highlighted. 

He went on to say that domestic enterprises should apply advanced technology to enhance labour productivity, competitiveness and business management capacity, and take the initiative in joining global value chains and building Vietnamese brands. 

The President ordered ministries, agencies and local administrations to enhance communication work to raise public awareness of the Party and State’s policies to develop the private economic sector. 

The State leader lauded the Việt Nam Private Business Association’s giant strides in the recent past. It has joined hands with relevant organisations to carry out the Party and State’s socio-cultural-economic development policies and made significant contributions to alleviating poverty and ensuring social security in the country. 

Since the launch of the đổi mới (renewal), the Vietnamese economy has been operating under the socialist-oriented market mechanism and the Party and State have encouraged the role of the private sector in the nation’s development. 

Most recently, the 12th Communist Party of Việt Nam (CPV) Central Committee adopted a resolution on “developing the private economy into an important driving force of the socialist-oriented market economy” at its fifth plenary meeting on May 10, 2017. — VNS