w88 login year 2025 begins with new momentum, marking a new era for w88 login country. Numerous revolutions are unfolding rapidly across public governance, laying w88 login foundations for economic activity. Four breakthrough resolutions — referred to as w88 login “pillar quartet” were successively issued over four months, ushering w88 login nation into a new era:
- Resolution No. 57-NQ/TW (Dec 22, 2024) by w88 login Politburo on breakthroughs in science, technology, innovation, and national digital transformation.
- Resolution No. 59-NQ/TW (Jan 24, 2025) on “International integration in w88 login new context”.
- Resolution No. 66-NQ/TW (Apr 30, 2025) on reforming w88 login development and implementation of laws to meet national development requirements in w88 login new era.
- Resolution No. 68-NQ/TW (May 4, 2025) on w88 login development of w88 login private economy.
As emphasized by w88 login General Secretary, “These four important resolutions of w88 login Politburo will be w88 login institutional pillars laying w88 login foundation and driving Vietnam forward in w88 login new era, realizing w88 login vision of a prosperous, high-income Vietnam by 2045”. w88 login speed of implementation is unprecedented — perhaps for w88 login first time, w88 login enterprise sector, once deemed more dynamic than public administration, now feels pressured to innovate more boldly to keep up with w88 login national pace.
On a global scale, protectionist ideologies have been crystallized into tangible policy, such as w88 login retaliatory tariff policy issued by w88 login United States on April 2. While temporarily suspended for 90 days, all countries are facing a 10% increase on goods imported into w88 login U.S. A new global trade order is emerging with fundamentally different characteristics, posing major implications for export-oriented industries like textiles and garments.
Simultaneously, geopolitical hotspots remain unresolved: w88 login Russia-Ukraine conflict persists, new tensions are emerging in w88 login Middle East, India-Pakistan, Thailand-Cambodia, and there are growing economic disputes between major players like w88 login U.S.-EU, U.S.-China, and political instability in South Korea. With tariff policies in flux, business operations now face numerous new variables, making it nearly impossible to draft mid- to long-term plans. Even existing business strategies require reevaluation and adjustments.
In 2025, w88 login Party Congress at all levels will take place in preparation for w88 login 14th National Party Congress. As such, this year’s Shareholders’ Meetings — both at subsidiaries and at w88 login Group level — have incorporated discussions on w88 login Party’s new economic development policies and have started building preliminary action programs.
All shareholder meetings agreed that w88 login past five years were exceptionally challenging for w88 login world: a two-year pandemic, a transition from economic overheating to recession, and a global-scale tariff war initiated by w88 login U.S. targeting 185 countries — arguably w88 login largest and most widespread trade war since w88 login early 20th century. Throughout w88 login term, volatility was w88 login norm, with only brief windows of market favorability in late 2021 and Q1 2022. w88 login rest of w88 login time was marked by instability and sharp price drops. w88 login yarn sector was unprofitable for three consecutive years (2022–2024).
In this context, business operations were extremely difficult. Many subsidiaries faced confusion and a lack of direction. However, through close and flexible management and increasingly efficient operational mechanisms within w88 login yarn and garment divisions, w88 login entire Group’s enterprises weathered w88 login storm, maintained stability, and remained effective. w88 login Parent Company’s transformation from a passive, supervisory entity to an active leader — coordinating with subsidiaries based on transparent, comprehensive data, KPIs, benchmarking, and best practices — was seen as a key success factor.
Converting macroeconomic policy information into textile-specific forecasts — and most critically, into calculated, risk-aware business decisions — has become institutionalized and systematic. This has infused agility and vitality into a large, dispersed, multi-ownership organization.
From these meetings, three key lessons were broadly agreed upon for navigating volatile markets:
- In w88 login current and future phases, business leadership must originate from intelligence. Intellectual capital — though intangible — has and will increasingly outweigh tangible capital in its impact. Shareholding percentages will become less important than strategic direction. Businesses will attract talent and cohesion based on w88 login quality of intellectual outputs. Soft power from intellect will gradually replace share-based authority. Future competitiveness hinges on systems of management, intellectual property, technological patents, and branding — w88 login main strategic trends.
- Past success does not guarantee future viability. Business models and product lines that once thrived are quickly outdated in today’s rapidly changing market. Competitors can match and outpace us in no time. Continuous innovation, client acquisition, market expansion, and testing of new products are essential for survival. Past achievements are merely foundations for more favorable future innovation, not substitutes for it.
- Having capable personnel is critical to implementing new competitive requirements. Skilled human resources are w88 login core solution.
Looking Ahead to 2025–2030: w88 login Role of Boards of Directors and Chairpersons
w88 login 2025–2030 period has been identified nationally as a time for high growth, over 8% in 2025 and exceeding 10% annually thereafter. w88 login textile and garment sector is now w88 login second-largest globally, with exports reaching USD 44 billion in 2024. To maintain 10% growth through 2030, w88 login sector must surpass USD 73 billion in exports — a daunting and arguably unrealistic goal, especially amid rising protectionism.
However, with three million workers industry-wide and 150,000 under Vinatex — a 135-year-old institution — we cannot afford to fall behind or under-contribute to w88 login nation’s objectives.
From a GDP calculation perspective, Vietnam uses three methods: production, income, and expenditure. For export-heavy sectors like textiles, which also rely on imported materials, w88 login expenditure-based method highlights w88 login importance of w88 login trade surplus.
GDP = Final Consumption (households + government) + Capital Accumulation (fixed, inventory, rare assets) + Net Exports (exports – imports)
Thus, w88 login textile sector contributes mainly through its trade surplus. If export turnover grows by 10% and w88 login import ratio remains constant, w88 login sector contributes 10% to GDP growth. However, this level of growth in exports is likely unachievable. Therefore, w88 login only viable path is to reduce w88 login import content in w88 login product value.
In parallel, modernization and high-tech applications must boost labor productivity, generating higher wages and income-based GDP growth.
To reduce import content (% import value/export value), there are two key strategies:
- Increase w88 login domestic share of raw materials — reducing w88 login import value directly.
- Elevate product value through branding, design, and value-added services — increasing w88 login denominator.
These strategies serve both economic and strategic objectives. They align perfectly with w88 login goals of Resolution 57andResolution 59 of w88 login Politburo.
Why Emphasize w88 login Role of Boards and Chairpersons?
Under w88 login 2020 Enterprise Law and corporate charters, w88 login Board of Directors is w88 login highest authority in a company, tasked with strategic planning on behalf of shareholders, beyond routine supervisory duties.
Before 2020, textile industry strategies were relatively stable. Vietnam’s competitive edge — abundant labor, low wages, and numerous FTAs — allowed for a clear path: market expansion, labor productivity, cost efficiency, and growth driven by sewing due to low investment requirements. These successes were largely delivered by executive teams, especially CEOs.
Today, w88 login situation is different. With limited room for extensive growth and higher expectations, strategic priorities must shift toward investment, digitalization, automation, intangible asset development, innovation, green production, circular economy, and skilled human capital. These require more detailed direction from Boards — not vague guidelines, but concrete investment choices in branding, distribution, AI, and ERP software.
w88 login Board’s strategic role is critical in building new value chains, moving beyond low-value manufacturing — w88 login “bottom of w88 login pyramid.”
Thus, w88 login Board must evolve from a supervisory body to a strategic one, with new requirements in expertise. w88 login Chairperson must be w88 login catalyst of innovation, with vision, foresight, and w88 login ability to assess business opportunities and risks. They must also encourage bold proposals from Board members and lead collective and personal accountability in high-risk strategic investments.
A new phase has begun — one of creativity, breakthrough, and quality growth. Just as national reform must begin at w88 login top, so must corporate transformation. This responsibility must and will rest with w88 login Board of Directors and its Chairperson. Building a bold, capable, visionary Board — unafraid to lead systemic change — is w88 login key to corporate success in w88 login coming era.
