What do Ha Tinh businesses expect from Resolution 68?

Resolution 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development (referred to as Resolution 68) was issued with a consistent guiding viewpoint: in a socialist-oriented market economy, the private economy is the most important driving force of the national economy; developing a fast, sustainable, effective, high-quality private economy is both a central, urgent task and a long-term strategic one...

Ha Tinh Pharmaceutical Joint Stock Company spends 40 - 50 billion VND/year investing in machinery and technology for production.

Mr. Tran Nguyen Huynh - Director of the Center for Financial Services and Enterprise Support of Ha Tinh province said: Resolution 68 is not only a strong political message but also a clear affirmation of the role and position of the private economy in the national economy with practical and revolutionary policies. The breakthrough point of the Resolution is to correctly assess the important role of the private economy in the country's development. The Resolution clearly states the goals for each period, points out general and specific tasks and solutions to develop the private economy. This is a correct policy and when implemented and put into practice, it will create a solid foundation for private enterprises in general and Ha Tinh private enterprises in particular to continue to innovate, affirm their capacity and mettle with a methodical and effective production and business strategy, contributing to promoting the economic development of the province".

As soon as the Resolution was issued, the business community in Ha Tinh was excited and expected that this would be the driving force for private enterprises to "take off". Ha Tinh Pharmaceutical Joint Stock Company (Ha Tinh City) is an enterprise that directly produces and supplies oriental and modern pharmaceutical products to the domestic and export markets. Each year, the enterprise spends 40 - 50 billion VND to upgrade equipment towards automation and invest in science and technology, researching and producing nearly 20 new products/year.

Mr. Le Quoc Khanh - General Director of Ha Tinh Pharmaceutical Joint Stock Company said: "Enterprises must proactively finance 100% of technology investment and digital transformation. According to Resolution 68, there will be policies to support investment costs for purchasing machinery, technology innovation, and digital transformation costs... We expect that when the Resolution is implemented, enterprises will be supported to modernize production lines, apply technology to production, and increase competitiveness."

Resolution 68 also emphasizes the tasks and solutions to facilitate access to land, capital, and high-quality human resources. In particular, promoting and diversifying capital sources for the private economy; encouraging financial and credit institutions to lend based on the assessment of production and business methods, data, and cash flow. This is a practical change, because most small and medium-sized private enterprises lack collateral but have the ability to operate flexibly and have stable cash flow. Removing credit bottlenecks is a key factor to increase the potential of enterprises.

17 years since its establishment, Thanh Huy Group Joint Stock Company (Cam Xuyen) has affirmed its "name" in the construction and installation sector, participating in many key projects from North to South. The company has borrowed capital from many banks, but at some points still lacks investment resources.

Thanh Huy Group Joint Stock Company (Cam Xuyen) implements many projects from North to South.

According to the leader of Thanh Huy Group Joint Stock Company: State-owned enterprises are provided with capital, FDI enterprises are guaranteed and have low interest rates, while private enterprises have to provide their own capital with higher interest rates, which is a challenge. Thanh Huy Group Joint Stock Company is implementing many projects at the same time, with large capital sources; while capital recovery is not timely, there are projects that have been put into use but the investors have not paid, so at some times businesses have difficulty with cash flow. Resolution 68 proposes a group of solutions to improve access to capital, including reviewing and perfecting credit mechanisms and policies for the private economy; reviewing and perfecting the legal framework, perfecting the model of credit guarantee funds for small enterprises, loosening conditions for granting guarantees compared to conditions for bank loans... These contents, when implemented, will "pave the way" for businesses to borrow investment capital".

Ha Tinh businessmen expect Resolution 68 to resolve credit bottlenecks for the private economy.

Mr. Nguyen Huu Cuong - Director of Duc Tai Industrial Mechanical Joint Stock Company (Ha Tinh City) shared: "The company specializes in manufacturing machine parts for the domestic and export industries, agriculture, and fisheries. The company has to rent premises at 2 locations but still does not have enough production area. We have requested to rent land many times but have not been approved. Resolution 68 clearly states the land support policies for the private economy, we expect to benefit from the policy to expand our scale."

Resolution 68 also sets out practical contents such as: promoting reform, perfecting and improving the quality of institutions and policies, creating an open, clear and transparent environment for enterprises; having special mechanisms and policies to support small and medium enterprises, abolishing business license fees, exempting corporate income tax for small and medium enterprises in the first 3 years of establishment... These are conditions for "young" enterprises to overcome challenges and affirm their capacity and mettle.

Mr. Le Duc Thang - Chairman of Ha Tinh Business Association emphasized: Resolution 68 has completely changed the thinking of the entire political system towards private enterprises, affirming that the private economy is the most important driving force of the national economy. This is a correct policy, consistent with the development trend in the socialist-oriented market economy. The Resolution has many breakthroughs, demonstrating the detail and specificity of action solutions. Notably, the Resolution clearly distinguishes criminal responsibility from administrative and civil; between individuals and legal entities in handling violations. This is a big step forward in legal reform, helping to minimize legal risks, create a safer business environment and is a highlight to make the business environment of Vietnam in general and Ha Tinh in particular more friendly and attractive in the eyes of investors.

Mr. Le Duc Thang - Chairman of Ha Tinh Business Association: " The issuance of Resolution 68 has completely changed the thinking of the entire political system towards private enterprises".

According to Mr. Le Duc Thang, Ha Tinh currently has more than 6,800 operating enterprises, of which 90% are private enterprises, mainly small, medium and micro enterprises. The financial capacity of enterprises is still limited, making it difficult to access credit capital; low quality of human resources, competitiveness, narrow market... so operations still face many difficulties. With a consistent guiding viewpoint, clear goals, tasks, and comprehensive solutions, the business community of Ha Tinh is excited, confident and expects that Resolution 68 will create a solid foundation to support the increasingly strong private economic sector.

Source: https://baohatinh.vn/doanh-nghiep-ha-tinh-ky-vong-gi-tu-nghi-quyet-68-post288118.html