Vietnam’s Transformative Growth: Collaboration Between State-Owned and Private Enterprises
Hanoi, The Gulf Observer: Vietnam is undergoing a remarkable period of growth, with projections to rank among Asia’s top 15 economies by 2025 and the top 20 globally by 2030. This transformation opens unprecedented opportunities for collaboration between state-owned enterprises (SOEs) and private businesses.
For decades, SOEs have served as the backbone of Vietnam’s industrial development. Now, private enterprises, recognized as agile engines of innovation, are emerging as equal partners. The goal is to create value chains for the Vietnamese people, form global alliances, and compete internationally.
Nguyễn Cảnh Hồng, General Director of Eurowindow SJC, emphasized the importance of collaboration, stating, “Let’s join forces to bake a bigger pie, yielding greater benefits, rather than competing for morsels in the fiercely contested domestic market.”
This approach is fostering resilient, localized supply chains and prioritizing partnerships over traditional rivalries between domestic enterprises. Public-private collaborations are also driving investments in major national projects, including the Long Thành International Airport, the North-South Expressway Phase II, high-speed railway projects, and high-tech agricultural initiatives.
Such initiatives, Hồng noted, are not exclusive to either private or state-owned enterprises, ensuring inclusive development for a stronger Vietnam.
