Prime Minister calls for immediate implementation of the party's resolution concerning the private economic sector
Rewritten Article:
HÀ NỘI - Prime Minister Phạm Minh Chính recently emphasized the significant role of the private sector in national economic growth during a meeting to discuss Resolution No. 68-NQ/TW, a landmark directive introduced by Vietnam's Politburo on May 4, 2025.
The gathering brought together permanent Government members, ministries, and sectors, focusing on drafting a National Assembly (NA) resolution and a Government action plan for implementing Resolution No. 68-NQ/TW. This resolution underscores the private sector as Vietnam's primary driver of economic growth, innovation, and international integration.
Recognizing the urgency of the situation, the PM urged the immediate concretization and institutionalization of Resolution No. 68-NQ/TW. The government aims to promptly address pressing issues, keeping in mind the limited time frame, high requirements, and broad scope of content.
PM Chính highlighted the need to address areas of most interest to businesses and the public, prioritizing urgent, essential matters that can be tackled without significant resources. He suggested emphasizing measures that act as "catalysts," capable of creating significant impact and new momentum to promote business growth and unlock production potential.
With a goal of reaching two million businesses nationwide by 2030, doubling the current number, PM Chính stressed the necessity of streamlining administrative procedures, particularly in business registration, dispute resolution, and bankruptcy procedures. He underscored that fostering conditions for businesses to thrive is crucial for national development.
To support business growth and create jobs, the PM emphasized the need for policies to help transform household businesses into enterprises, encourage small businesses to become medium-sized ones, and support large businesses to expand further.
He highlighted the importance of implementing Resolution 68's provisions regarding the full guarantee of property ownership, business freedom, and fair competition. PM Chính also encouraged promoting public-private partnerships in various forms such as public leadership - private governance, public investment - private management, and private investment - public use.
The PM called for further delegation of authority to ministries, sectors, localities, and investors in commissioning businesses to carry out infrastructure projects, ensuring progress, quality, and cost control. While supporting favorable mechanisms, he also emphasized the necessity of devising tools for strengthening supervision and inspection.
To build public and business confidence, PM Chính emphasized the need to institutionalize Resolution 68's provisions regarding the distinction between criminal liability and economic, administrative, or civil responsibility. He stressed that for civil and economic violations, priority should be given to civil, economic, or administrative remedies, allowing enterprises and entrepreneurs to proactively remedy wrongdoings and damage.
The PM urged the swift collection of feedback from the business community and the finalization of the draft resolution within May, so it can be submitted to the NA right during its ninth session. Simultaneously, the draft Government action plan must be built with strong determination, great efforts, and decisive and focus-driven action.
By 2030, Resolution 68 targets the private sector becoming the most important driving force of the national economy with 2 million active enterprises, 20 businesses per 1,000 people, and at least 20 large companies participating in global value chains. By 2045, the sector is expected to develop rapidly, sustainably, and competitively in the region and the world, contributing over 60% to the GDP with at least 3 million businesses.
Prime Minister Phạm Minh Chính speaks at the meeting. - VNA/VNS Photo
References:[1] Báo Pháp luật & Văn hóa (The Law & Culture Newspaper)[2] Tuổi trẻ Online (Youth Online)[3] VGP News[4] Sức khoẻ & Pháp luật (Health & Law)[5] Tý gia TaskForce (Business Tycoon)
- To achieve the PM's goal of 2 million businesses by 2030, it's crucial to streamline administrative procedures, such as business registration, dispute resolution, and bankruptcy procedures, to foster a conducive environment for businesses to prosper.
- The Prime Minister underscored the need for policy reforms to help transform household businesses into enterprises, encourage small businesses to become medium-sized, and support large businesses to expand further, thereby creating more employment opportunities.
- Recognizing the private sector as Vietnam's primary driver of economic growth, innovation, and international integration, the government is encouraging public-private partnerships in various forms, such as public leadership - private governance, public investment - private management, and private investment - public use.
- In order to build public and business confidence, the government aims to institutionalize the provisions of Resolution 68 focusing on the distinction between criminal liability and economic, administrative, or civil responsibility, with an emphasis on civil, economic, or administrative remedies for enterprises.
