Associate Prof. Thien says large corporations are necessary for a country to become an economic power.

These companies must be competitive in both local and global markets and lead in value chains.

Dr. Thien spoke at a seminar about the role of economic groups in Vietnam's growth.

At the seminar, Dau Anh Tuan discussed the private sector's challenging journey and its current position.

The private sector was first recognized in 2002 and has since become a key driver of the economy.

Despite progress, the private sector still faces challenges and paradoxes.

Companies are many but not strong, dynamic but not deep, and contribute greatly but hold a modest position globally.

Le Khac Hiep of Vingroup shared his company's story of expansion and international integration.

Vingroup chose the automobile industry as a breakthrough field for development.

Most developed nations have a strong auto industry, which drives other sectors.

Hiep emphasized the importance of leadership determination in achieving rapid development.

The National Exhibition Center project was completed in just 10 months, showing what can be achieved with determination.

Nguyen Duy Hung of Tan Hiep Phat said businesses need freedom from constraints and a stable environment to grow.

Enterprises want regulatory agencies to remove difficulties and consider them as partners.

Strengthening dialogue with large enterprises can help solve obstacles effectively.

Powerful private corporations are necessary for Vietnam's growth.

Phan Duc Hieu said the leading role of economic groups in Vietnam is immense and will drive future growth.

Large economic groups must reach out abroad and expand markets, with new policies needed to support them.

When expanding globally, large economic groups must lead and have specific mechanisms to ensure feasibility.

Dr. Thien said a developmental state and strong private economic groups are necessary to create an economic miracle.

He urged the creation of business support policies that focus on leading corporations and address bottlenecks.

Nguyen Le