More than 600 entrepreneurs gathered at the HCM City's Re-unification Palace to hear presentations made by local and foreign businesspeople on the topic "Viet Nam Entrepreneurs: One Team - One Vision".

"The role of the private sector is important. If businesses become strong, then so does the economy," Nguyen Thanh Minh, deputy editor-in-chief of Doanh Nhan Sai Gon (Sai Gon Entrepreneurs) newspaper, organiser of the seminar, said in his opening speech.

Minh said that despite the country's membership in the World Trade Organisation (WTO), more than 110,000 companies in HCM City were not operating as a team.

Strengths, weaknesses

Senior economist Le Dang Doanh said the strengths of local businesses included patriotism, a determination to grow, an eagerness to learn and an ability to endure hardships.

"But most businesspeople lack fundamental knowledge about modern finance, banking, management and marketing. We should recognise that as a member of World Trade Organisation, quality and prestige are very important," he said.

Dr. Ly Qui Trung, owner of the popular restaurant chain Pho 24, said that doing business well relies on a tradition that has been developed over many years.

"The business environment in Vietnam has only been operating for the last two decades so it has not matured yet," he said.

The managing director of the market research company Taylor Nelson Sofres Viet Nam, Ralf Matthaes, who has spent 13 years working in Vietnam, said local businesspeople had ambition and ability. "But they don't know who they are five or 10 years later. The lack of vision is one of your weaknesses."

"Today, there are over 300,000 companies, three million house-holds and 80,000 co-operative units doing business in Vietnam.

"But 200 largest Vietnamese companies are still considered comparatively small- and medium-sized," he said.

Foreign competition

"Every company and group starts with a fixed vision. We are small now, but if we had a more well-thought vision, we would grow," Gian Tu Trung, director of PACE management school, said.

Trung said local companies would have to compete with foreign ones in the local market of more than 80mil but also in the world market of 6bil.

"This means that our vision should move from the local to the global market. That will decide the destiny of each enterprise as well as Vietnam," he said.

He said big businesses would be involved in the international product chain and small companies would take part in different parts of the chain.

"The global market will even affect those who sell miscellaneous goods because huge foreign retail corporations like Walmart and Seven-Eleven are going to enter the local market. So all of us have to change," Trung said.

Sharing the same vision would create a more united team with common values. "From that, a company or a country might take off," he added.

"The market is not the battle-field. The market is a place where the winner is the person who runs the fastest. Those with vision and a good team can reach their target more quickly."

Don Lam, general director of the investment management fund VinaCapital noted that local companies needed to improve their trademarks, prestige, quality, and ability to work as a team.

Regional, global expansion

Other speakers at the seminar spoke about their goals to reach an international and regional audience.

Le Hong Minh, director of VinaGame, said he wanted to tap the global market for online games, and go beyond his base of three million local online players.

Vu Thi Ngoc Trinh, president of the Minh Dung Limited company, said she expected to be among the top 10 enterprises that produce marine and veterinary medicine in South East Asia.

Economist Le Dang Doanh said he dreamed of a new image for Vietnam - one of economic development and cultural and societal progress.

"It's time to make the legendary Vietnam that won the war to be the strong Vietnam that succeeds economically," Doanh said.

Outstanding businesses

Hanoi and HCM City held separate ceremonies to honour outstanding businesses and entrepreneurs on Saturday.

50 enterprises and 17 entrepreneurs in Hanoi received "Thang Long Cup" and "Excellent Entrepreneur" awards in the capital. Also at the ceremony, the Viet Nam Fatherland Front began their month of action dedicated to helping the poor.

Addressing the event, Chairman of the Hanoi People's Committee, Nguyen The Thao, called on all State agencies, social organisations, businesses and individuals in the country and abroad to support the Fund for the Poor to help the disadvantaged acquire jobs and escape hunger and poverty. A total of 7bil VND (US$437,500) was raised at the ceremony.

Meanwhile, HCM City presented 10 "Outstanding Business", and 89 entrepreneurs received the "Sai Gon Outstanding Entrepreneurs 2007" title.

The Sai Gon Entrepreneur newspaper earlier raised 1.5bil VND (nearly $74,000) for its humanitarian fund through a walk held on October 7.

Source: Viet Nam News.