For the private economy to truly change both quantity and quality: Lesson 3 - Opening the way for breakthroughs, unleashing resources

BAC NINH - In order to promote the strong development of the private economic sector, commensurate with the economic growth rate of the province, it is necessary to have synchronous and breakthrough solutions from policy mechanisms to changing the thinking and awareness of Party committees at all levels, local authorities and each business owner and business household. Only then will the private economy truly be the most important driving force of the national and local economy.

Change thinking, unify perception

After the merger, Bac Ninh province has 33 established industrial parks with a total planned area of ​​about 10,171 hectares and 64 industrial clusters with a total area of ​​2,172 hectares. The economic scale in 2025 (GRDP at current prices) of the province is estimated at 522,000 billion VND, ranking 5th in the country. This is the premise and strong foundation for Bac Ninh to become an economic - urban center, capable of strong connection and development, creating important space for the development of the province's private economic sector in the coming time.

Chairman of the Provincial People's Committee Vuong Quoc Tuan visited Thanh Dong Limited Liability Company, Doc Sat Industrial Park, Tu Son Ward.

Accordingly, on July 28, 2025, the Standing Committee of Bac Ninh Provincial Party Committee issued Plan No. 11/KH-UBND to effectively implement Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development. The plan sets a target of striving to have 85,000 enterprises operating in the economy by 2030, an average of 21.5 enterprises/thousand people; of which at least 2 large enterprises participate in the global value chain, 15 private corporations are among the 500 largest enterprises in Vietnam. The average growth rate of the private economy is about 13 - 14%/year, contributing about 55 - 58% of the province's GRDP. Striving by 2045, the province will have about 160,000 enterprises operating in the economy; contributing over 60% of the province's GRDP.

In order to achieve the above goals, it is necessary to change the mindset and unify actions among Party committees, authorities, the entire political system, the business community and the people regarding the position and role of this important economic sector. Governments at all levels participate in creating, serving and supporting the private economy to develop rapidly and sustainably, without administrative intervention in production and business activities contrary to market principles. Mr. Nguyen The Hong, Chairman of the Association of Small and Medium Enterprises of Bac Ninh province, proposed that the province continue to strengthen policy dialogue between Party committees, authorities, the Fatherland Front, organizations and enterprises, combining the discovery, recognition and replication of typical good business startups in the private sector. Thoroughly grasp and enhance the sense of responsibility, innovate the mindset and awareness of each cadre, party member, civil servant and public employee, shift from a controlling mindset to accompaniment, considering enterprises as "service" objects instead of "management" objects.

According to Mr. Dong Anh Quan, Director of the Center for Investment Promotion and Enterprise Development No. 1 in Bac Ninh province, to adapt to the development requirements in the new period, enterprises and individual business households need to renew their thinking, forming a professional, transparent and sustainable business management culture. First of all, each business owner and business household must have a firm grasp of the provisions of the law, clearly understand which activities are allowed and which are prohibited, in order to prevent risks and ensure that business activities are always on the right track.

In addition, improving financial management capacity, especially effectively managing cash inflows and outflows and making financial reports transparent, is a key factor to consolidate the foundation for long-term development. At the same time, businesses need to focus on building the habit of applying a quality standard system for each product and service. This is not only a tool for internal quality control, but also a basis for affirming reputation, enhancing trust with customers and partners, thereby creating a solid competitive position in the market.

Removing the "bottleneck" of land and production capital

Difficulty in accessing land resources and production capital is a major barrier to the development of the private economic sector. Therefore, local authorities and functional agencies need to be open, transparent and proactive in providing information to businesses on land use planning in the area; reduce the time for land lease procedures, granting land use right certificates; actively support businesses in site clearance. Consider supporting investors in infrastructure business of industrial parks and clusters, thereby creating conditions for local small and medium enterprises to lease land and develop production and business. Mr. Nghiem Xuan Tranh, Director of Bac Giang Traffic Construction Joint Stock Company, expressed: “We have high expectations for Resolution No. 68 of the Politburo. Accordingly, the province has also had specific regulations, more open in nature, from cutting administrative procedures to creating favorable conditions for access to land, high-quality human resources... The most important thing now is for professional staff to deploy and implement in the most effective way”.

Leaders of Xuan Luong Commune People's Committee met and learned about the production and business situation of a wood processing facility in the area.

Many opinions also said that, in order to help private enterprises and business households access loans conveniently, in addition to commercial banks continuing to pay attention to simplifying administrative procedures and promptly informing customers about preferential loan packages, businesses and business households themselves also need to implement financial transparency well, creating prestige before banks and credit institutions. According to commercial banks in the province, credit capital to support businesses and business households to borrow to invest in production and business development is quite abundant, with many preferential credit packages, such as the program "Prosperity with small and medium enterprises" of the Bank for Agriculture and Rural Development of Vietnam (Agribank) providing a short-term credit package of 60,000 billion VND with an interest rate 1.2% lower per year than the normal lending interest rate floor, applicable until December 31, 2025. Mr. Nguyen Hoang Giang, Director of Agribank Bac Giang II Branch, shared that it is important for businesses and individual business households to demonstrate their ability to use loan capital effectively and ensure timely repayment.

Promote science and technology, innovation

Innovation and application of technology to improve competitiveness are opportunities and keys for the private economic sector in the province to accelerate in the coming time. Mr. Nguyen Dinh Than, Director of AMA Holdings Factory specializing in manufacturing components for supporting industries, precision mechanical processing and industrial equipment in Yen Phong Industrial Park (Expansion Area) assessed: In 2025, the enterprise has started working and running tests to train a number of virtual assistants, personalized for the enterprise and for each department. From there, it is possible to increase labor productivity and reduce errors. If successfully applied, labor productivity will increase by 20 - 40%.

A training course on digital transformation for private business owners and individual business households organized by the Center for Investment Promotion and Enterprise Development No. 1 of Bac Ninh province.

Many private enterprises in the province also hope that the province will continue to pay attention to supporting the application of digital technology, automation, and artificial intelligence in production and business. Although the Provincial People's Committee has just issued a plan on private economic development in the area, which sets out the task of promoting science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy, in order for these tasks and goals to become reality, it requires the participation of Party committees and authorities at all levels, especially relevant departments and branches, to have clear implementation programs and plans, assigning specific responsibilities to each collective and individual in charge.

Comrade Vuong Quoc Tuan, Chairman of the People's Committee of Bac Ninh province affirmed: The province is always consistent in the view that private enterprises, especially those in the field of science and technology, must become the main force in innovation, high-tech application and sustainable value creation. To promote private enterprises to develop science and technology, the province will promote administrative reform, build digital government, service government, develop a comprehensive innovation ecosystem, create favorable conditions for enterprises to access resources of technology, finance, infrastructure, and high-quality human resources. In particular, the province requires enterprises investing in infrastructure of industrial parks and clusters to reserve at least 15-20% of the area for domestic private enterprises in the field of science and technology.

In the context of increasingly fierce integration and competition, the synchronous implementation of solutions to promote innovation, digital transformation, improve the quality of human resources, expand linkages and encourage investment in science and technology will be the key for Bac Ninh's private economic sector to make a breakthrough. In the spirit of Resolution No. 68 of the Politburo, Bac Ninh aims to develop the private economic sector into an important driving force, contributing to improving competitiveness, creating jobs, increasing budget revenue and promoting economic restructuring towards modernity and sustainability. It is believed that, with high political determination and the support of the business community, the province's private economic sector will develop strongly, affirming its role as an important pillar in the industrialization and modernization process of the province and the country.

Article and photos: Thanh Nam - Nguyen Ha

Source: https://baobacninhtv.vn/de-kinh-te-tu-nhan-thuc-su-thay-doi-ca-luong-va-chat-bai-3-mo-duong-dot-pha-khoi-thong-nguon-luc-postid426605.bbg