On December 4, the Hanoi Department of Finance, with the Vietnam Association of Foreign-Invested Enterprises and related organizations, held a seminar titled "Linking small and medium enterprises with large enterprises: A breakthrough in supply chains for the Capital's sustainable development."

Participants included Mai Cong Quyen, Deputy Director of the Hanoi Department of Finance, Nguyen Anh Tuan, Deputy Director General of the Foreign Investment Agency under the Ministry of Finance, Dr. Nguyen Anh Tuan, Chairman of the Vietnam Association of Foreign Invested Enterprises, and Prof. Dr. Mac Quoc Anh, Vice Chairman and Secretary General of the Hanoi Small and Medium Enterprise Association.

The event also welcomed over 150 representatives from departments under the Ministry of Finance, leaders of the Hanoi Department of Finance, representatives of city departments and 126 wards and communes, business associations, economic experts, universities and media agencies.

The program was livestreamed across the city, helping expand cooperation between government and enterprise in shaping investment and financial policies for sustainable growth.

Opening the seminar, Deputy Director Mai Cong Quyen stressed the significance of the event as many of the Party and city's strategic directives are entering implementation.

He said 2025 is a milestone year, as the nation and the capital celebrate major anniversaries and mark the success of the 18th Congress of the Hanoi Party Committee for the 2025–2030 term.

The congress affirmed the city's determination to promote its thousand-year heritage, inspire aspiration, and build a capital that is "civilized, modern, globally connected, peaceful, prosperous and happy."

He noted that three major Politburo resolutions issued between 2019 and 2025 continue to shape socioeconomic development.

Resolution 50 (2019) directs Vietnam to improve the quality of foreign-investment attraction tied to innovation, sustainability and technology.

Resolution 59 (2025) identifies international integration as a strategic driver, with businesses at the center of digital and circular economic transformation.

Resolution 68 (2025) highlights the private sector as a dynamic engine that fosters innovation and strengthens national competitiveness.

Based on these directions, Hanoi identified five development pillars: culture and people, green transition, digital transformation and circular economy, modern and synchronized infrastructure, digital economy and smart urban systems, and science, technology and innovation.

These form the foundation for fast and sustainable development in the coming decade.

Hanoi currently has 422,212 registered enterprises, with 223,580 active, accounting for 23% of all active firms nationwide.

Small and medium-sized enterprises (SMEs) make up 98.2%, employ 55.1% of the workforce and contribute over 40% of the Capital's GRDP.

They remain the city's main growth engine, but face challenges integrating into large-scale supply chains, especially those of multinational corporations and FDI enterprises.

Deputy Director Mai Cong Quyen said SMEs play an increasingly critical role in the capital's economy.

However, to reach their full potential, they need support to participate more deeply in major supply chains.

In a rapidly shifting global economy, marked by strategic competition and restructuring of supply chains, Hanoi must build modern linkage models between large enterprises and SMEs.

These linkages help SMEs access markets, technology and management systems, while enabling large firms to secure supply chains, stabilize production and expand business ecosystems.

The seminar took place as Hanoi continues implementing measures for economic recovery and growth after the pandemic, while improving the local investment climate to be more transparent, stable and sustainable.

Participants discussed the need for new partnership models where large enterprises lead shared growth, while SMEs strengthen internal capacity, improve management, upgrade product quality and accelerate digital transformation to meet global standards.

Speakers emphasized improving support policies, developing industrial-cluster linkages and setting production standards aligned with multinational-corporation requirements.

Delegates agreed that the State must act as a facilitator, large firms must lead, and SMEs must proactively strengthen competitiveness.

Stronger coordination between these three actors – government, large enterprises and SMEs – will drive the development of modern, autonomous and resilient supply chains.

Closing the seminar, the Hanoi Department of Finance affirmed its continued support for the business community, from policy development to practical assistance.

The department emphasized that strengthening SME–large enterprise linkages is a key solution to enhance the capital's competitiveness and build a foundation for rapid, sustainable development in the new era