Many entrepreneurs get involved in the legislature

Notably, statistics indicated that 23 businesspeople, including chairmen of boards of directors, general directors, deputy general directors of companies, bank branches, and leaders of business associations, were elected as deputies to the 16th National Assembly.

The voice from the real economy

Assoc. Prof. Ho Sy Hung, President of the Vietnam Chamber of Commerce and Industry, has been elected as a deputy of the 16th National Assembly. In his action plan when running to the 16th National Assembly, he affirmed that he will concentrate on advancing institutional changes and establishing more advantageous circumstances for the private sector of the Vietnamese economy.

"With the responsibility of a National Assembly delegate, I commit to giving special respect, actively listening to the thoughts, aspirations, and opinions of voters, the business community, business households, and workers, promptly reflecting the difficulties and obstacles from the practical production and business activities to the National Assembly and the competent authorities, while also bringing the activities of the National Assembly into the daily lives of the people," Assoc. Prof. Ho Sy Hung said.

At the same time, he stressed that he will actively research and contribute ideas to build and improve laws, particularly those pertaining to enhancing the business and investment environment; supporting startups, small and medium-sized enterprises, and innovation; creating jobs and ensuring harmonious, stable, and progressive labor relations in enterprises; promoting business culture; connecting the development of Hanoi Capital; developing the urban economy and digital economy and increasing labor productivity; and efficiently managing land, budget, and public resources.

One of the main goals of the action program, as suggested by VCCI President, is to improve the legal framework; address issues of lack of transparency, overlap, and irrationality; and minimize burdensome administrative procedures that cause problems and insecurity for individuals and businesses.

Assoc. Prof. Ho Sy Hung reaffirmed that VCCI always aims to concentrate on the task of fostering the growth of the private economy to become the most significant driver of the Vietnamese economy, connected to the digital economy, green economy, circular economy, and international economic integration; encouraging the creation of value chains between private and state-owned enterprises and FDI enterprises to improve the efficiency of these sectors; and contributing to the objective of having 2 million businesses operating in the Vietnamese economy by 2030 and 3 million by 2045.

He stated that in order to accomplish the said objectives, VCCI will concentrate on ways to encourage the growth of SMEs, which make up about 98% of all businesses in the Vietnamese economy, and assist more than 5 million business households in becoming businesses.

Expectations from voters and the business community

Numerous important economic sectors, including technology, energy, finance, aviation, commerce, and industry, are represented among the entrepreneurs running in this election. Many are in charge of sizable companies or have executive positions in enterprises and organizations that have a big impact on how the economy develops.

It is anticipated that entrepreneurs' involvement in the legislative body would aid in bridging the gap between market practice and legislation, ultimately leading to more effective policies that reflect the realities of the business environment and support economic growth. These individuals can offer useful viewpoints in the process of developing and refining the legal system since they have managerial expertise and firsthand understanding of production and business operations.

Improving institutions, strengthening the business and investment climate, and encouraging innovation are regarded as crucial concerns in the context of Vietnam's goal for rapid growth in the upcoming years. Many corporate candidates for the National Assembly’s deputies have pledged to pursue these goals if elected by the electorate.

Many entrepreneurs' involvement in the 16th National Assembly candidacy shows how closely economic activity and policymaking are becoming linked.

These candidates provide precise action plans with real-world corporate management expertise, concentrating on topics including institutional change, developing sustainable energy, creating a modern financial system, and improving social welfare.

In addition to bringing the voice of the business community and the expectation of more practical policies that foster economic growth and enhance people's quality of life, entrepreneurs entering the National Assembly will do so if they are trusted by the electorate.