New impetus for a new era

After the victory of the historic Ho Chi Minh campaign, our country officially entered a new page in history, the era of independence, freedom and territorial integrity. However, in the first years after liberation, due to many different reasons, the country's economy was underdeveloped, domestic resources were not utilized and promoted... leading to many consequences.

In 1986, the 6th National Party Congress was like a fresh, cool breeze blowing everywhere when it officially recognized a multi-sector economy for the first time. This was considered the first bricks for the country's increasingly diverse and multilateral economic development.

Thanks to that, from a "gasping" and "moderate" existence in a centralized bureaucratic subsidy mechanism, being discriminated against not only in social awareness but also in the state's mechanisms and policies, the private economy has grown strongly in the renovation period, contributing more and more to the state budget, creating jobs for society, promoting the available potentials and advantages in each locality as well as in the whole country, making an important contribution to socio-economic development, strengthening national defense and security, affirming its important role and driving force in international integration.

The private sector has played a particularly important role in the economy of Vinh Phuc since the province was re-established (1997) until now. Thanks to that, Vinh Phuc has risen from a poor agricultural province to a developed and prosperous industrial province, leading the country.

According to General Secretary To Lam , with the right vision and policies in a socialist-oriented market economy, developing the private economy is a vital choice to promote material production, create social change, "rebound" in technology level, vocational training, increase the ability to absorb capital, promote labor productivity, and build a technical and material foundation for socialism.

To develop the private economy, the most important and core issue is to continue to perfect the socialist-oriented market economic institution, with turning-point changes in thinking, perception, and action, forming the basic characteristics of a socialist-oriented market economy with State management under the leadership of the Party compared to the previous socialist-oriented market economy with State management.

Recently, the Politburo issued Resolution 68 (dated May 4, 2025) on private economic development, which clearly states the goals, viewpoints, tasks, and unprecedented breakthrough solutions. In particular, it defines the Party's new viewpoint on private economic development in a socialist-oriented market economy with State management under the Party's leadership; strongly promoting the development of the private economy, considering it a new driving force for economic development in the coming time.

To effectively carry out this task, the head of our Party emphasized: It is necessary to resolutely and effectively implement the work to soon put the Party's Resolution into practice. Specifically, in the 9th Session of the 15th National Assembly, the National Assembly will discuss and issue a Resolution on private economic development with specific, feasible and effective incentive mechanisms and policies.

Promote and create strong innovation in administrative thinking from control to companionship, considering enterprises as "service" objects instead of "management" objects, ensuring the principle of "saying goes hand in hand with doing" is consistent throughout the political system. The Government soon issued a Directive requiring ministries, branches and localities to transfer all administrative processes to post-inspection, except for some specific areas. (This alone has saved a lot of downtime and many resources, huge funds are not wasted).

Next is to urgently institutionalize the Party's viewpoints into laws and ensure strict implementation throughout the political system, businesses, and people. In particular, to establish a fair competition system, clearly identify the list of behaviors that negatively impact market access and discriminate in market competition against the private economy.

Create a mechanism to promote investment and financial support, requiring financial institutions to establish a credit rating system suitable for the private economy and financial support.

Encourage the development of science and technology, private enterprises taking the lead in major, key national projects and establishing national innovation research infrastructure.

Establish a system to protect the rights and interests of market participants, clearly distinguish between economic disputes and criminal offenses, and strictly prohibit acts of law abuse in market management...

It can be said that with clear regulations in Resolution 68 of the Politburo and specific orientation of General Secretary To Lam, the private economy is facing an unbeatable opportunity to break through and fly up with the country into a new era.

Doing business in the private sector is not only not oppressed or made difficult, but is also protected by law, supported by the State, and taken care of in terms of capital, technology and policies. What better motivation could there be than that?

Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/128157/Dong-luc-moi-cho-ky-nguyen-moi