The suggestion was made in his remarks at the mid-term Vietnam Business Forum (VBF), which opened in Hanoi on July 4.
He added that domestic enterprises must revise their management and employ advanced technologies while enhancing the skills of their workers in order to increase their production capacity and product quality.
Minister Dung also called on the government to take practical measures to enable and support a closer link between foreign-invested and domestic enterprises.
The mid-term VBF 2018 includes discussions on three major topics, the value chains, technological challenges and sustainable financial growth.
According to Minister Dung, over the past 30 years, the foreign sector has had a certain spillover effect on domestic businesses through the introduction of advanced technologies and international practices in corporate management and skills development.
Foreign-invested firms have also created many jobs, the minister said, before adding that the linkage between the foreign and domestic sectors has failed to meet expectations as technology transfer and the supporting industry remain weak.
To date, 128 countries and territories have committed US$326 billion to approximately 26,000 projects in Vietnam, of which more than US$180 billion has been disbursed.
The foreign-investor sector currently contributes 25% of Vietnam’s total investment, 20% of its gross domestic product, 50% of its industrial production and 72.6% of its total exports.
Foreign enterprises in Vietnam are also employing 3.6 million people and create another 5-6 million jobs indirectly, Minister Dung said.
