Ministry of Finance wants to lease surplus public land and assets to enterprises

After nearly half a year of implementing Resolution No. 68, the Ministry of Finance has informed about the initial results. Sharing with the press, Mr. Nguyen Duc Tam - Deputy Minister of Finance - said that since May this year - when Resolution 68 was issued, on average, more than 18,500 new enterprises were established each month, an increase of 43% compared to the average of the first 4 months of the year.

In the first 10 months, nearly 256,000 enterprises nationwide registered for new establishment and returned to operation. The total capital of enterprises in the private economic sector added to the economy is estimated at nearly VND 5.2 million billion, up 98.2% over the same period in 2024. By the end of October 31, the whole country had over 1 million operating enterprises.

Mr. Nguyen Duc Tam - Deputy Minister of Finance.

The business environment has seen significant improvements. It is expected that more than 2,940 administrative procedures related to production and business activities will be reduced and simplified. A survey by the Private Economic Development Research Board (Board IV) shows that more than 46% of enterprises "expect/very expect" the effectiveness of Resolution No. 68, achieving the highest average score among business confidence indicators.

Resolution 68 sets a target of having 2 million businesses in Vietnam by 2030. Deputy Minister Nguyen Duc Tam said that if only a small part of the 5.2 million business households boldly convert to business models, this goal is completely feasible.

According to Mr. Tam, in reality, many business households are still hesitant to convert, because the cost of legal compliance between business households and enterprises is still quite large. At the same time, business households do not fully understand legal regulations and are not familiar with managing accounting books. In particular, business households were previously subject to lump-sum taxes, accounting books, invoices, and documents that were much simpler than those of enterprises.

To remove the above barriers, Resolution 68 sets out an important policy that from 2026, the lump-sum tax will be abolished. To support business households in converting to become enterprises, the Ministry of Finance is urgently studying amendments to the Law on Tax Administration and the Law on Personal Income Tax; studying and developing the Law on Individual Business to narrow the gap in management organization and financial accounting regime between business households and enterprises.

The Ministry of Finance is urgently upgrading technical infrastructure to implement the policy of eliminating lump-sum tax for business households.

The electronic tax declaration and payment system, electronic invoice software, and accounting software will be provided free of charge, with special priority given to supporting businesses that are still facing difficulties in the initial stages. In addition, the Ministry of Finance will also innovate online inspection and supervision work, based on risk classification, to reduce pressure, increase transparency, and create a more friendly environment for businesses.

Deputy Minister Nguyen Duc Tam pointed out that the biggest obstacle for the private economy today is access to resources, especially capital, land, technology and high-quality human resources.

To support the private sector, the Ministry of Finance leader said that a number of solutions will be focused on implementation, such as proposing tax incentives, early-stage fee exemptions for technology startups, and quick tax deductions and refunds for innovation projects.

To "resolve" capital difficulties, Mr. Tam emphasized the operation of the Small and Medium Enterprise Development Fund, through research to perfect the model of state financial funds outside the budget (credit guarantee fund, small and medium enterprise development fund, local development investment fund, etc.).

In addition, the Ministry of Finance will coordinate with ministries, branches and localities to review and create conditions for enterprises to lease back land, factories and infrastructure that are surplus public assets.

Source: https://tienphong.vn/bo-tai-chinh-muon-cho-doanh-nghiep-thue-dat-tai-san-cong-doi-du-post1795504.tpo