"Leveraging" the development of the private economy.

The impetus from Resolution No. 198/2025/QH15 is opening up great opportunities to unlock resources and create a solid foundation for the development of the private economic sector in Lam Dong province.

Businesses in Lam Dong province are proactively embracing the "new wave" of Resolution 198.

• BREAKTHROUGH POLICIES FROM RESOLUTION 198

National Assembly Chairman Tran Thanh Man signed Resolution No. 198/2025/QH15 on a number of special mechanisms and policies for the development of the private economy . Resolution 198 is considered an important step in improving the business environment and supporting the development of the private economy. Accordingly, Resolution No. 198 clearly stipulates mechanisms and policies to improve the business environment, support access to land, production and business premises, and the lease of public assets; support for finance, credit, and public procurement; support for science, technology, innovation, digital transformation, and human resource training; and support for the formation of medium and large enterprises and pioneering enterprises.

Specifically, the Resolution clearly stipulates mechanisms to support businesses in accessing land, production facilities, and leasing public assets such as houses and land. This will help alleviate the burden on businesses, especially startups.

Regarding financial and credit support, private sector businesses will receive a 2% annual interest rate subsidy from the State when borrowing capital for green and circular projects that apply environmental, social, and governance (ESG) standards. This policy not only helps businesses save costs but also encourages them to invest in sustainable projects.

The resolution also stipulates a two-year exemption from corporate income tax and a 50% reduction in tax payable for the following four years for income from innovative startup activities. This will provide a significant incentive for startups, helping them overcome initial difficulties.

Businesses will also receive support in retraining their workforce, helping them improve their skills and meet market demands. This is especially important in the context of digital transformation and the Fourth Industrial Revolution.

The resolution stipulates that each business should not be inspected or audited more than once a year, except in cases of clear signs of violations. This will help businesses reduce pressure and focus on production and business activities.

• EXPECTATIONS FROM PRIVATE ENTERPRISES

Mr. Pham Nguyen Ngoc Duy, Chairman of the Lam Dong Young Entrepreneurs Association, expressed optimism regarding Resolution 198. He believes this is a great opportunity for the private business sector to seize and develop. "The Resolution clearly demonstrates the special attention of the Party and the State to the private economic sector, considering it an important driving force for the country's development in the new era," Mr. Duy emphasized.

Within the framework of the recent Dialogue on New Tax Policies under Resolution 198, the direct dialogue between businesses and leaders of the Tax Department of Region XIII took place actively. Many pressing questions were raised by businesses, such as: What future tax policies will promote the development of the digital ecosystem for businesses in Lam Dong? What types of real estate transfer taxes should be noted under the new regulations?

Resolution 198 not only creates significant opportunities for the private sector but also poses challenges in developing professional tax, accounting, and auditing consulting services. With the goal of having over 2 million businesses by 2030, the transition from household businesses to enterprises will require strong support from relevant authorities and consulting organizations.

With a spirit of responsible cooperation, solid expertise, and dedication to the development of the business community, the Young Entrepreneurs Association and the Tax Department stated that they will continue to work together, becoming a core force alongside the Finance sector to successfully realize the goals of Resolution 198. This will not only help develop the private economy rapidly, sustainably, and efficiently, but also affirm the important role of the private sector in the national economy.

Resolution No. 198 has opened a new chapter for the private economy, creating favorable conditions for the strong development of businesses. With practical support policies, the business community in Lam Dong is full of hope and determination to rise up, contributing to building a prosperous and sustainable economy in the future. The Lam Dong Young Entrepreneurs Association and relevant agencies will continue to organize support, consulting, and training activities to enhance the capacity of businesses, helping them seize opportunities from Resolution 198 and develop sustainably in the current volatile economic context. Lam Dong is developing a plan to review all legal documents and administrative procedures within its management scope, aiming to eliminate cumbersome, overlapping, and inappropriate regulations that do not suit the practical development of private enterprises. Accordingly, digital transformation is considered a "lever" in administrative reform and improving public governance capacity. At the same time, attention should be paid to policies on land, capital, training, etc., in order to make the private economy a driving force and pillar of local development.

Source: https://baolamdong.vn/kinh-te/202506/don-bay-phat-trien-kinh-te-tu-nhan-2633c89/