By Ngọc Hiển - Tuổi Trẻ Newspaper
A new wave of modern-day “nation-building” is taking shape in Vietnam — where business leaders are not only focused on profits but are also coming together to shoulder the mission of national development.
Speaking with Tuổi Trẻ, Mai Hữu Tín, Chairman of U&I Investment Corporation and Vice Head of the Private Sector Development Research Board (Board IV), said that Resolution 68 has inspired private enterprises to assert their role with renewed confidence.
According to him, entrepreneurs are now proactively proposing to participate in major national projects, ready to take full financial responsibility — as long as there is a favorable mechanism that allows them to thrive.
Entrepreneurs Set Aside Doubts to Take the Lead
Why did Board IV initiate the “Public–Private Nation-Building” model at this moment?
“Resolution 68 of the Politburo has generated immense inspiration among private enterprises, who now feel respected and empowered to grow,” said Mr. Tín.
“At the same time, the global economic landscape remains highly uncertain and volatile. We believe this is the right moment to call for a united spirit of public–private nation-building. Only through strong coordination between the two sectors can we unlock vast untapped resources and achieve rapid growth.”
How should the role of entrepreneurs in “nation-building” be redefined, and how can they contribute in practice?
“Entrepreneurs must put aside long-held hesitations and frustrations born from years of business challenges, and instead take the lead — asserting responsibility and national pride,” he explained.
“It’s about affirming that the intelligence and capabilities of Vietnamese people can stand shoulder to shoulder with any nation. It’s about unity within each sector, supporting one another to move forward — grounded in faith in our country’s future.”
ViPEL: A Nationwide Movement of Private Enterprise
The Vietnam Private Economy Panorama (ViPEL) model is being introduced as the largest and most ambitious gathering of Vietnamese business leaders to date.
“First, we are appealing to the national spirit of the private business community — especially among successful entrepreneurs,” Mr. Tín noted.
“Board IV itself is composed of business leaders who voluntarily contribute their knowledge, time, and money for the common good, so we understand the mindset and aspirations of our peers.”
He added that the call has already gained support from many prominent entrepreneurs.
Once a capable coalition has formed — one strong enough to take on national-scale challenges — ViPEL will seek Government authorization to act as an official bridge between the public and private sectors, ensuring follow-through and accountability on both sides.
“20–200–2,000”: A Vision for Inclusive Growth
The goal of “20, 200, and 2,000” sounds ambitious. What does it mean?
“The first ‘20’ refers to Resolution 68’s target — at least 20 major Vietnamese enterprises joining global value chains,” Mr. Tín said.
“Each large enterprise will lead a national-level project that creates its own industry ecosystem and pulls in smaller local businesses.”
Those local firms, in turn, will engage even smaller enterprises — a chain reaction where 20 lead 200, and 200 lead 2,000.
ViPEL will serve as the collective voice — consolidating information, proposing policies, and monitoring implementation.
Building a Sustainable Public–Private Mechanism
Many private firms remain cautious about working with the public sector, citing risks over transparency, unclear benefit-sharing, and policy instability. How can a more trustworthy model be built?
“The ‘public–private nation-building’ model we advocate is not the same as traditional public–private partnerships (PPPs),” Mr. Tín clarified.
“Enterprises proposing projects through ViPEL will invest and take full responsibility for outcomes. What they need from the public sector is an enabling environment — streamlined policies that make execution faster, more efficient, and more cost-effective.”
“ViPEL will represent these enterprises in working with the Government to create that environment.”
Beyond enthusiasm, does the private sector need special legal frameworks or support from the Government?
“We don’t need a new legal framework,” he said.
“But we do need to amend existing laws — especially those governing land, taxation, environment, construction, planning, credit, trade promotion, and market management. We’ve identified about 30 key legal issues tied to specific projects.”
Mr. Tín emphasized that the experience of Asian countries such as Japan, South Korea, China, and Singapore shows that a shared national agenda — clearly defining what is public and what is private — can mobilize all forces under the same banner.
“Any obstacle can be overcome if both sides fully understand their responsibility to this nation.”
Private Enterprises Ready to Join National Mega Projects
Many private firms have expressed interest in large-scale projects — from the North–South high-speed railway and metro lines to interprovincial highways. Are they ready to take on such massive ventures?
“There’s no major project in Vietnam where our enterprises have no role to play,” Mr. Tín affirmed.
“We may lack certain technologies or management experience now, but those can be acquired — through purchase, leasing, or partnerships. That’s exactly how we build internal capability to global standards.”
He added that even for mega-projects, Vietnamese private firms are capable of partnering with leading global players, learning from them, and growing stronger in the process.
“There’s no reason to hand everything to foreign contractors,” he concluded.
A Platform for Global Vietnamese Talent
The ViPEL model, initiated by the Private Sector Development Research Board (Board IV), brings together Vietnam’s most influential entrepreneurs and billionaires with a shared ambition: to unite the strength of Vietnamese enterprises and create legacy projects under the banner of nation-building.
According to Trương Gia Bình, Chairman of Board IV and a member of ViPEL’s Executive Council,
“ViPEL aims for a vision of Public–Private Nation-Building — for a strong and prosperous Vietnam.”
The initiative will foster cooperation and shared responsibility between private enterprises and government agencies in driving economic development. It will also serve as a hub of intelligence, resources, and solutions from the private sector — turning private enterprise into one of the most important engines of the national economy.
“Before our destiny, we must be proud and confident in our people’s potential,” Mr. Bình said.
“For too long, companies have walked alone. Now we must unite — layer upon layer — not only domestic entrepreneurs but also global Vietnamese talents joining in the cause.”
