Vietnam stands at a critical juncture in its economic development. The current national strategy heavily favors large conglomerates, often at the expense of small and medium enterprises. These smaller firms form the backbone of the domestic economy, yet they face barriers that larger entities do not encounter. Improving access to capital, reducing bureaucratic hurdles, and modernizing regulatory frameworks are necessary steps to create a more balanced playing field.
Investment in local infrastructure and specialized support for smaller businesses would yield significant long-term growth. When government policy shifts focus toward the health of these smaller players, the entire market becomes more resilient. Reliance on a few major corporations creates vulnerability. A diversified business landscape ensures stability even when global trade conditions fluctuate.
Policymakers often prioritize projects involving major industrial players because they offer visible results. However, sustainable wealth creation comes from the bottom up. By providing technical assistance and streamlined export processes, the government can help smaller firms scale their operations effectively. This approach does not require abandoning big business but rather requires a correction in priorities.
If Vietnam wants to maintain its current momentum, the administrative burden on independent entrepreneurs must decrease. Simplifying tax compliance and digital integration would allow these firms to compete on a wider scale. Economic progress is not just about the size of the company but the reach and health of the entire ecosystem. The time for parity in policy support is now.