Serving businesses, devoting to the Vietnamese nation

In the past, the state's role in relation to businesses was primarily seen through the lens of management, control, regulation, and 'taking the lead.' But in an era of global integration and competition, the government must proactively build a sustainable business ecosystem, where the development of enterprises goes hand in hand with the country's shared prosperity.

The mindset of 'serving businesses, devoting to the nation' is not simply a catchphrase in economic policy, but a requirement for a fundamental transformation in public administration thinking.

The shift from a management mindset to one of serving businesses marks a significant step forward in political and economic awareness. More importantly, this mindset must be expanded to the national level – from serving businesses to serving the nation.

This shift in thinking is not a temporary adjustment but a necessary strategic choice.

Throughout the renovation process, the private economic sector in Vietnam has proven its importance by contributing more than 50 percent of GDP, creating millions of jobs, and making substantial contributions to the state budget.

However, reality shows that while businesses play a critical role, without a consistent policy aimed at sustainable development, the private economy may fall into short-term growth patterns that fail to generate long-term value for the nation.

In the context of globalization, as Vietnam becomes increasingly integrated into the global economy, focusing solely on serving businesses without a broader orientation toward national interests could trap the economy in dependency, erode its internal competitiveness, and weaken its autonomy.

Therefore, the government must not only support business development but also steer that development toward contributing directly to national prosperity – by enhancing competitiveness, ensuring sustainable growth, and promoting long-term value for the economy.

This requires a long-term vision, in which economic interests are inseparable from national interests; business growth does not come at the expense of economic sovereignty; and modernization cannot dilute the country's identity or diminish its position in the global economic system.

A transparent, fair business environment with minimal administrative barriers is a necessary condition for enterprise development.

However, the sufficient condition is the protection of economic sovereignty, ensuring the economy does not fall into dependence on foreign capital or under the control of multinational corporations without a strategic oversight plan.

The government must balance attracting foreign investment with strengthening domestic economic capacity, create mechanisms to protect local enterprises from global market pressures, and ensure Vietnamese businesses are not put at a disadvantage in asymmetric competition.

Domestic enterprises cannot remain stuck in labor-intensive manufacturing or outsourcing. They must enhance the knowledge and technological content of their products. At the same time, innovation cannot be a solitary process.

The mindset of 'serving businesses, devoting to the nation' goes beyond economics – it reflects a new philosophy of national governance.

The government cannot remain a bystander, issuing policies and then leaving businesses to fend for themselves.

Instead, what is needed is a government that truly walks alongside businesses, ready to engage in dialogue, share risks during difficult times, and lead the economy forward.

Whereas the state used to intervene primarily during crises, now, with a new mindset, the government must act preemptively by anticipating trends, protecting enterprises from external shocks, and laying a solid foundation for a strong and sustainable economy.

For this mindset to truly take hold, there must be fundamental changes in the attitudes and actions of the public administration system.

To 'serve' does not mean to dispense favors or establish a system of asking and giving, but to build a professional, transparent, and effective administrative apparatus where public officials genuinely assist businesses in overcoming challenges and maximizing development opportunities.

And when the state not only serves but also strategically guides business development in line with national priorities – when policies not only enable growth but also safeguard the economy's long-term interests – that is when Vietnam can build a truly resilient and prosperous economy.

* The Vietnamese version of this text was authored by Do Thien Anh Tuan, a lecturer of macroeconomics, public sector economics and financial analysis, and development finance at the Fulbright School of Public Policy and Management.