Deputy Prime Minister Nguyen Xuan Phuc (right) and first secretary of the Central Youth Union Nguyen Dac Vinh (left) presented Gold Star Awards to individuals at a ceremony in Ha Noi. — VNA/VNS Photo Pham Kien

HA NOI (Biz Hub) — Deputy Prime Minister Nguyen Xuan Phuc urged Vietnamese businesses to improve their competitiveness, renew their technologies, increase productivity, and be creative to make the most of the ongoing international integration.

Deputy PM Phuc made his comments during the 2015 Gold Star Award ceremony in Ha Noi on Sunday which honored 200 outstanding brands.

Speaking at the event, Deputy Prime Minister Nguyen Xuan Phuc recognized the achievements and contributions of businesses to the country and congratulated the 200 outstanding businesses that have taken the lead in production, business, and international economic integration.

He said these businesses were increasingly typical of the country, which has overcome difficulties in developing in a stable manner and firmly integrating into the world economy.

Phuc also affirmed that the success of these businesses and entrepreneurs was a reflection of the success of the country. He also praised the great effort and dedication made by generations of Vietnamese entrepreneurs, especially young entrepreneurs who had made an important contribution to the cause of building and developing the country.

Phuc said he hoped that the Vietnam Gold Star Award would create a motivation to stimulate businesses to continue striving for more successes.

He noted that Viet Nam's integration would create opportunities and major challenges for Vietnamese businesses and entrepreneurs.

Therefore, businesses and young entrepreneurs need to actively raise their corporate governance and enhance the application of new technologies and innovations to improve the competitiveness of their products and services, in order to compete domestically and globally.

He said the Government would do its utmost to create favorable conditions to support and incubate innovation, as well as strongly improve the investment and business environment.

The Government would give priority for investment in infrastructure development, technology, high-skilled human resources, as well as encourage technology applications, technology transfers and implementation of laws on intellectual property.

Phuc also called upon young entrepreneurs and those businesses receiving awards to not only continue their successful business practices and pioneering in international integration, but also to take the lead in implementing corporate social responsibility.

Commenting on the award, Huynh Nghia Thien, Deputy Director General of the Vina One Steel Company, said, "We have upgraded our steel production technology and expanded our export market to other countries in Southeast Asia, Australia, and America. We are also developing human resources as a way to increase productivity and sales."

The Gold Star Award is presented in a bid to increase business awareness of international economic integration and honor businesses that have demonstrated sustainable growth and social responsibility.

Founded in 2003, the Gold Star Award targets to encourage Vietnamese businesses to build trademarks and improve competitiveness in the context of international integration.

Over the last decade, over 1,730 outstanding brands have been honored. — VNS