Hanoi (VNA) 🍃– Enterprises in the industrial production sector are rolling out a range of solutions to improve production and business efficiency, taking advantage of new opportunities to create momentum for the economic growth target of 8% or higher in 2025 and striving for double-digit growth in the years to follow.

Right after the Tet 𝓀(Lunar New Year) holiday, businesses resumed operations with the expectation of successfully achieving their annual plans.

Phan Tien Dung, General Director of Pho Noi Textile and Garment Company (Vinatex-ID), stated that in 2024, the company successfully completed all tasks set at the shareholders' meeting, earning revenue of 212 billion VND (8.3 million USD), exceeding the plan by 15%, with post-tax profits surpassing 23 billion VND, surpassing the yearly plan by 27%.

This year, Vinatex-ID aims for higher revenue and profit than the previous year while striving to transform Pho Noi Textile and Garment Industrial Park into a green industrial zone, emphasised Dung.

General Director of Dap Cau Garment Corporation JSC (Dagarco) Luong Van Thu shared that right from the first working days of the Lunar New Year, all units in the company have promptly resumed operations without labour disruptions or declines after Tet.

The company has secured orders until the end of April and continued negotiating for new contracts, with many customers said. Notably, some manufacturing enterprises have signed contracts extending into 2026. For example, VCONNEX Industry Technology Joint Stock Company has won orders worth hundreds of billions of Vietnamese dong, with revenue growth expected to reach 200-300% by 2026. Bui Truong Thi, the company’s deputy general director, said the strong production momentum has motivated the business community to enter 2025 with confidence, contributing positively to Hanoi’s economic growth goals.

Clearing obstacles to propel businesses forward

After nearly 40 years of doi moi (renewal) policy, the number of enterprises in Vietnam has grown significantly in both quantity and quality, with over 940,000 active enterprises, more than 30,000 cooperatives, and over 5 million household businesses. In 2024 alone, over 233,000 new firms were established or resumed operations — the highest number ever recorded.

Businesses now play an increasingly vital role in socio-economic development, contributing about 60% of the national GDP, accounting for 98% of the country’s total export revenue, and generating jobs for some 85% of the workforce nationwide. At a government meeting with businesses on February 10 which focused on strategies to accelerate private sector growth for sustainable national development in the new era, Minister of Industry and Trade Nguyen Hong Dien affirmed the ministry’s readiness to support enterprises in exploring partners, connecting to markets, and navigating regulations and policies efficiently. Additionally, the Ministry of Industry and Trade stands ready to engage in dialogues to propose strong and feasible policy reforms that enable businesses to participate more effectively in national economic development, helping achieve the set growth target. For Hanoi, the municipal People’s Committee has issued an action programme that outlines socio-economic development goals for 2026-2030, aiming for double-digit growth. Deputy Director of the municipal Department of Industry and Trade Nguyen Kieu Oanh said that the growth target of 8% is crucial as both Hanoi and the country need to accelerate development. Thus, creating an environment that fosters entrepreneurship and innovation is essential, she added. Removing barriers for projects and businesses — especially by simplifying administrative procedures, and preventing the introduction of new burdensome requirements — is key to building trust and driving growth, Oanh noted. According to the Department of Industry and Trade, Hanoi will prioritise developing the industrial sector with competitive advantages and high value-added contributions to global production and supply chains. These foundational industries will drive growth in other economic sectors while utilising environmentally friendly technologies. Furthermore, Hanoi will continue supporting industrial enterprises to become suppliers for both domestic and international customers. Efforts to assist businesses in expanding production will also be strengthened, allowing them to contribute more to the capital's economic growth. Meanwhile, Nguyen Van, Vice President of the Hanoi Supporting Industry Business Association, stressed that achieving a GRDP growth of more than 8% requires the city to implement strong industrial development strategies, focusing on priority industries, key sectors, and supporting industries, while attracting investment in large-scale industrial projects to expand production capacity. The city should focus on supporting domestic and international investors in building factory complexes within existing industrial parks and clusters. Additionally, Hanoi should leverage the effectiveness of the 'special working groups in charge of removing difficulties for businesses,' which have been operating successfully since 2023, he said./.