Role of national enterprises in economic growth

Research indicates that the economic growth and industrialization of major global economies are closely linked to the development of dominant national enterprises.

Initial analysis of Northeast Asian economies, including Japan, South Korea, Taiwan, and mainland China, suggests that large-scale national entities drove rapid growth through the ‘Developmental State’ model. In this framework, the state focuses on building institutions and long-term strategies to foster enterprises capable of achieving national industrialization goals. This pattern extends to other major economies such as Germany, where corporations like Siemens, Volkswagen, and SAP act as strategic levers by driving supply chain development, research, and international brand recognition.

In South Korea, companies like Samsung and LG drive technological capacity, while in China, entities such as Tencent, Alibaba, and Huawei provide digital ecosystems, e-commerce, and telecommunications leadership.

Building on these global models, experts suggest that Vietnam needs leading enterprises to enhance its national economic competitiveness. Analysts note that major corporations act as strategic levers by driving research and development, setting industry standards, and creating demand for satellite businesses. While many digital services in Vietnam are currently provided by foreign entities, the country has shown progress in the digital sector through domestic platforms like Zalo, indicating growing domestic capability in the digital economy.