Policy levers help businesses gain confidence to break through

Photo caption — Mr. Lu Nguyen Xuan Vu, Chairman of Saigon Business Club, spoke at the program.

Resolution 68-NQ/TW of the Politburo on private economic development (Resolution 68) was issued with breakthroughs in both awareness, thinking and private economic development strategy, which is a lever to help the business community be confident and make breakthroughs in the coming time. This is the sharing of many businesses at the discussion program "Resolution 68 - breakthroughs to help private economy develop" organized by the Saigon Entrepreneurs Club in coordination with the Binh Duong Young Entrepreneurs Association and the Ba Ria - Vung Tau Young Entrepreneurs Association in Ho Chi Minh City, on May 24.

Mr. Lu Nguyen Xuan Vu, Chairman of the Saigon Entrepreneurs Club, informed that Resolution 68 was issued with the viewpoint that "the private economy is the most important driving force of the national economy, the pioneering force promoting growth, creating jobs, improving labor productivity and national competitiveness", creating a new atmosphere, adding confidence to the business community and entrepreneurs.

In particular, the new policy is implemented in the context of reforming the apparatus and streamlining administrative units, which will create a resonance to promote the spirit of innovation, daring to think and dare to do of the private economic sector. As a direct beneficiary of the policy, the business community needs to proactively research information, seize the opportunities that Resolution 68 brings to transform into effective investment and business strategies; develop sustainably and make substantial contributions to the economic development of the country.

Ms. Lam Thuy Ai, Chairwoman of the Board of Directors of Mebipha Production - Trading Company, shared that coming from a family with a business tradition and more than 20 years of fighting in the market, she herself clearly feels the change in the way society perceives and evaluates private economic activities and the business community. If in the past, business people were often labeled with unsympathetic titles such as "traders", "fraudulent traders", then up to now, business people have been honored and affirmed as the pioneers, the soldiers on the economic front. In the context that enterprises in general, and the private economy in particular, are facing many challenges in the market and in accessing resources, Resolution 68's emphasis on completely eliminating perceptions, thoughts, concepts, and prejudices about the private economy; correctly assessing the role and position of the private economy in the country's development... is the driving force for business people to continue to innovate and contribute.

“Despite high expectations, businesses cannot help but wonder how Resolution 68 will be put into practice. Will breakthrough mechanisms and policies be implemented quickly to promptly support millions of businesses and business households to overcome current challenges? In order for the content of Resolution 68 to be realized, strong participation from policy enforcement agencies at all levels from central to local is needed. Because the biggest wish of the business community is to have an equal and transparent business environment to boldly expand long-term investment,” Ms. Lam Thuy Ai expressed her perspective.

Mr. Tran Viet Anh, Vice President of the Ho Chi Minh City Business Association, General Director of Nam Thai Son Corporation, cited that the role of the private economy in the process of innovation and economic development of the country has been affirmed, with many impressive figures. If in 1990, Vietnam's GDP was only at 6.9 billion USD, the average income per capita was 96 USD/person/year; then by 2024, the country's GDP had increased to more than 476 billion USD, the average income reached 4,700 USD/person/year. Vietnam used to be one of the 20 poorest countries in the world , but has now risen to the group of 40 economies with the largest GDP in the world, and is one of the 20 economies with the largest trade scale in the world.

Before the Law on Private Enterprises and the Law on Companies (1990), the private economy had been quietly developing in various forms such as business households and small production establishments. After the renovation, the start-up wave of the 90s of the 20th century created a fairly large number of enterprises, many of which have now become leading enterprises with their scale increasing many times over.

According to Mr. Tran Viet Anh, Resolution 68 was issued and implemented resolutely, adding strength and confidence to the business community. Immediately after the resolution was issued, Vingroup Corporation proactively proposed to participate in the North-South Expressway project, Hoa Phat Group established a company specializing in supplying steel for railway projects,... showing that as long as there is a suitable mechanism, businesses are ready to make a breakthrough.

However, it is also necessary to recognize the reality that the number of enterprises with available resources to invest is not much, the majority of private enterprises in our country are still small and micro-sized. Therefore, there needs to be specific support solutions for different groups of enterprises such as expanding development space, consumer markets, land and capital for production. On the contrary, as direct beneficiaries of policies, enterprises must also demonstrate responsibility in complying with the law, building a healthy business culture and contributing to the community.

Sharing the same view, Mr. Nguyen Vinh Huy, Founder of Thinh Tri Law System, said that the State has issued clear mechanisms and policies, enterprises need to proactively review supply chains, business strategies, and adjust models in accordance with the orientation of Resolution 68, especially the requirements on innovation, digital transformation, green transformation, and integration of ESG standards. Upgrade governance capacity and legal compliance to be eligible for preferential policies under "Resolution 198/2025/QH15 on a number of special mechanisms and policies for private economic development". Because incentives on tax, credit, land, research and development (R&D) are not automatic, but require enterprises to be financially transparent, improve their internal audit systems, and strictly comply with the provisions of the Enterprise Law 2020, the Tax Administration Law 2019, and related documents. Enterprises also need to strengthen their connections, participate in supply chains and data sharing platforms. Small and medium enterprises should proactively connect with large enterprises and FDI enterprises through fairs, investment promotions and industry associations.

Resolution 68 also assigns clear tasks to the business community in policy review and monitoring. Providing feedback through industry associations, submitting practical reports and proposing amendments to problems are ways for businesses to accompany the State in institutional reform instead of passively “waiting for support”.

“Putting Resolution 68 into practice cannot be separated from the proactive role of enterprises. If each enterprise determines this is an opportunity to transform itself, standardize and connect, we will not only exploit preferential policies well, but also contribute to a strong, transparent, globally competitive private economic ecosystem,” Mr. Nguyen Vinh Huy emphasized.

Source: https://doanhnghiepvn.vn/doanh-nhan/don-bay-chinh-sach-giup-doanh-nghiep-tu-tin-de-but-pha/20250526083722123