Since 2023, Deoca Group has been actively expanding its business in Laos, connecting training centers in Germany and Japan, and recently establishing partnerships with Sany Group and PowerChina in China. These efforts aim to enhance Deoca's expertise, upgrade human resources, research and implement cutting-edge transportation practices, and apply modern management and operating technologies to propel Deoca to an international level…

When interacting with various institutions, common and essential issues arise, highlighting the significance of fostering businesses with a national spirit.

State–enterprises relationship abroad

Those who have been to Laos will know PTL Holding Company Limited (PTL Holding). It's a renowned enterprise operating in consumer goods, lighting equipment, logistics, retail distribution of petroleum products, and infrastructure investment. As one of Laos' largest family-owned business groups, PTL Holding aims to contribute 20% of Laos' GDP by 2040, with a revenue of $250 million in 2022.

PTL Holding, a key enterprise in Laos, takes on significant and challenging projects assigned by the government. In addition to the nationwide railway line, they are currently working on the Logistics Park project in partnership with Sitthi Logistics Company and the Lao Government under the PPP program. This ambitious project spans 382 hectares and includes Thanaleng dry port areas, logistics zones, export processing zones, logistics and digital centers, as well as fuel and petroleum distribution areas. The estimated investment cost for the project is around $727 million.

Deoca works with Sany

During our visit to Sany Group's factories in China, we were impressed by the vibrant red colors of the national and party flags. Sany's leader mentioned that it was a symbol of pride and expressed gratitude for the Party-State's effective support in creating favorable legal frameworks for economic development. Sany played a prominent role during the Covid-19 pandemic as their factories transformed into treatment centers and supplied equipment, acting as field hospitals and collaborating with the Government to fight against the outbreak.

In Beijing, Deoca Group partners with PowerChina Group for large-scale projects in energy, transportation, and technical infrastructure. PowerChina emphasizes a strong and practical party organization, prioritizing party membership for human resource development.

During meetings with businesses in the country of 1.4 billion people, they all echoed the message from their leaders to "let go of worries, lighten burdens, and fearlessly pursue development" post-epidemic.

Deoca promotes cooperation with PowerChina (Source: PowerChina)

The State will treat state-owned enterprises and private enterprises equally, encourage private sector growth, boost market confidence, support job creation, and remove business obstacles to attract private capital for key national projects, supply chains, and industry development, promoting quality and innovative models.

Despite a global crisis, Sany Group achieved remarkable growth, becoming the world's third largest heavy equipment manufacturer and the first Chinese company in the FT Global 500 ranking. Sany's products are sold in 150 countries. PowerChina, on the other hand, ranked 100th among the world's largest companies in 2022, present in over 130 countries. In Vietnam, PowerChina Group has 10+ years of experience in more than 50 projects, handling various roles like project development, feasibility study, EPC, and material/equipment supply.

How to boost the national spirit and stature of Vietnamese entrepreneurs?

In Vietnam, the national spirit is inherent in every successful enterprise. The Vietnamese business community's experiences, economic changes, cultural diversity, and societal richness have shaped diverse values among Vietnamese businessmen.

Dr. Vu Tien Loc, Chairman of the Vietnam International Arbitration Center, believes that promoting these qualities will not only give Vietnamese businessmen unique characteristics but also enhance competitiveness in the economy.

Tiến sĩ Vũ Tiến Lộc

“It is evident that society has successfully overcome the epidemic, value chains have been disrupted, the global economy remains unpredictable, and Vietnam's economy continues to grow positively. Despite being unable to access state support packages, most businesses strive to maintain stability, job security, and income for workers while seeking new opportunities and markets.

I have never witnessed Vietnamese businessmen being as genuinely concerned about development models, restructuring, and sustainable development as they are now. They aspire to actively participate in the nation's journey towards happiness and prosperity”, Dr. Vu Tien Loc said.

The unstable confidence of businessmen is due to imperfect political institutions and the state's and civil servants' thinking and behavior towards them. With dominant “front and back yard” practices in the business environment, investment decisions are weighed based on outdated criteria. When economic transactions are criminalized and public officials are indifferent to business difficulties, maintaining business confidence becomes challenging.

The Deoca tunnel project demonstrates the intellectual ability of Vietnamese people and Vietnamese businesses

At the Vietnam Economic Science Conference in March 2023, Dr. Tran Dinh Thien emphasized the need to accurately identify the economy's weaknesses and bottlenecks, particularly in the private sector, to maintain Vietnam's economic development achievements.

What does the government need to do to nurture ethnic businesses? Reforming the business environment is crucial for long-term investor confidence. Vietnamese businesses currently face unnecessary challenges, such as having to invest significant resources in interest groups, connections, and relationships that provide little motivation for investing in science and technology. We should promote the transformation of households into businesses and recognize and support those businesses that contribute to fostering strength.

An institution that fosters business development. Korea, once poor, has risen to become an Asian dragon through encouragement.

BY NGUYEN QUANG THANH