Ba Ria - Vung Tau’s entrepreneurs and businesses reach out for integration

For the past 20 years, the entrepreneurs and business community in Ba Ria-Vung Tau province has consistently been the driving force behind job creation, wealth creation, and socioeconomic growth. They have continuously strived, innovated, and overcome all difficulties and challenges to grow both in quantity and quality, said Mr. Nguyen Van Tho, Chairman of the Bà Ria - Vung Tau Province People's Committee, at a business meeting commemorating the 20th anniversary of Vietnamese Entrepreneurs' Day on October 11, 2024.

Ready for the era of expansion

In the midst of a booming technology revolution and deep integration, the entrepreneurs and businesses community yearns for innovation and contribution. This is also a period when the spirit of entrepreneurship and innovation is more important than ever, and businesses are prepared to enter a new age - one of rising with the nation.  

What makes it even more unique, according to Mr. Pham Van Triem, Chairman of the Ba Ria - Vung Tau Small and Medium Enterprises Association, is that the Politburo issued Resolution No. 41-NQ/TW in October 2023 on establishing and promoting the role of the Vietnamese business community in the new age. This is a once-in-a-generation chance for Vietnamese entrepreneurs and businesses in Ba Ria - Vung Tau province to rekindle their entrepreneurial spirit and gain fresh energy.

Private firms continue to play a significant role in both the national and provincial economies. To date, the latter has over 21,000 enterprises in a variety of sectors, contributing positively to the effective implementation of the Party and State's policies on social welfare, disaster and epidemic recovery, caring for people's material and spiritual lives, ensuring energy and food security, strengthening national defense and security, and maintaining Vietnam's economic independence and self-reliance.

Mr. Pham Van Triem stated that the Ba Ria-Vung Tau business community always strives for innovation, quickly adapts, and keeps pace with the rapid and strong changes of the current era; proactively and actively participates in the global supply chain and new business models based on technological breakthroughs such as circular economy, green economy, digital economy... As a result, the private economic sector in Ba Ria-Vung Tau province has seen many corporations.

Party and the government always accompany businesses

According to statistics, 13 of 14 economic and financial indicators of Ba Ria - Vung Tau province were higher than the same period and expected during the first nine months of 2024. Total domestic and foreign investments, including new and extra funds, topped USD 1.9 billion and VND 34.751 trillion, respectively. So far, the province has 489 FDI projects with a total registered capital of more than USD 33.4 billion and 697 domestic investment projects with a registered capital of VND 406.510 trillion. There are 1,417 newly founded firms in the province, as well as 482 enterprises that have resumed operations.

Acknowledging the significant contributions of the business community in recent times, Mr. Nguyen Van Tho stated that in 2024, along with renewing the direction and management works, the province has focused on activities to support and connect businesses; providing information to businesses; organizing dialogue conferences between provincial leaders and businesses and investors; creating favorable conditions for businesses to exchange, share information, experiences, connect, and expand markets in the fields of seaports, logistics, tourism, etc. Especially, the province has focused on removing difficulties and supporting businesses and investors in the province. The provincial People's Committee and the leaders of various departments often arrange meetings with businesses and investors at the beginning of each morning and once a week.

"The province's business community has grown significantly, establishing the groundwork for the province to achieve its comprehensive socioeconomic development goals, including becoming one of Southeast Vietnam's most important provinces and a national marine economic hub," said Mr. Nguyen Van Tho, adding that by 2030, Ba Ria - Vung Tau would have mostly met the norms of a centrally run city.

Mr. Tho also hopes that the Ba Ria - Vung Tau entrepreneurs and businesses community will continue to strive, overcome difficulties and challenges, seek opportunities, and implement more effective and stronger solutions to maintain and develop production and business, thereby contributing even more to the successful implementation of Ba Ria - Vung Tau's socioeconomic development targets.

"Only by going out to sea can one determine whether the enterprises have the necessary strength to survive the waves. This depends on the leader. The new era requires businesses and entrepreneurs to adopt new thinking, maintain a sense of self-reliance, confidently face difficulties and challenges, improve competitiveness, build a good brand, and proactively integrate into the global economy," emphasized Mr. Nguyen Van Tho.