"Runway" for private economy to take off

Binh Phuoc has nearly 13,000 operating enterprises with a registered capital of more than 203 trillion VND. With the "openness" of Resolution 68, Binh Phuoc enterprises and businessmen expect the resolution to be concretized by legal regulations and concrete actions, and soon come into life.

Launch pad for private enterprise

With experience working in the field of green trees, Ms. Le Thi Ai Nhi, Director of Le Nhi Green Tree Company Limited (Dong Xoai City) highly appreciates the synchronous, open and practical policies of Resolution 68.

Ms. Nhi said: As a small business, the operation process encountered many difficulties related to legal issues and access to technology for digital transformation was also limited. Resolution 68 was issued, businesses like us feel valued. For example, in the past, businesses were considered objects of management, now businesses are partners, driving forces for development, a fundamental change in policy, welcomed and expected by the business community.

“Resolution 68 will create conditions for businesses to access land resources for development, because according to the resolution, industrial parks must reserve at least 5% of their area for small and medium enterprises to participate. Most businesses in the province are small-scale, so they can benefit from this policy. Along with that, there are orientations to improve the investment environment, administrative procedures, technology support policies, and digital transformation for business development,” Ms. Nhi hopes.

Mr. Huynh Do Minh Hoang (far right), Director of SOLMEDIA Company Limited, said that with Resolution 68, this is an opportunity for technology enterprises to affirm their position and confidently enter the digital age.

One content that the business community is particularly interested in is the practical support policies that come with the resolution. According to Mr. Huynh Do Minh Hoang, Director of SOLMEDIA Company Limited (Dong Xoai City), for businesses operating in the technology sector, the company previously received a lot of support from the State regarding administrative procedures, as well as tax exemption and reduction policies. However, accessing capital and other preferential policies still has many difficulties.

“Resolution 68, which addresses administrative procedure reform, expanding access to credit, tax exemptions and reductions for startups and support for innovation, will significantly reduce operational pressure and boost business confidence. In particular, for technology businesses, this is an opportunity to affirm their position, confidently enter the digital age, and gradually bring their values ​​to actively contribute to their homeland and country,” Mr. Hoang shared.

Resolution 68 is a strong affirmation of the Party about the key role and leading important driving force of the private economy in the country's development process.

The process of accessing capital and land funds for small and medium-sized enterprises, micro-enterprises, and business households has also been addressed and specific and practical policies have been developed. Accordingly, Resolution 68 advocates encouraging banks to lend based on cash flow instead of collateral; encourages the establishment of funds to support small and medium-sized enterprises; and requires localities to reserve separate land funds for private enterprises (PEs) when planning industrial zones and clusters - something that has never been clearly defined in previous policies.

Mr. Nguyen Van Do, Chairman of the Board of Directors of Dong Do Electromechanical Group Joint Stock Company, Binh Phuoc branch, shared that the biggest bottlenecks for private enterprises have long been administrative procedures and unfair competition. Resolution 68 was passed, not only removing the "bottlenecks" that have hindered the development of private enterprises but also creating a new "leverage", making the private economy a pillar of national development. This has opened up opportunities for enterprises to boldly invest in many fields, thereby creating jobs and opportunities for small enterprises to grow and develop.

According to Mr. Do, with a synchronous, open and practical policy, the Party and the State are affirming their determination to elevate the private economy, towards a dynamic, creative and sustainable economy. For example, switching from pre-control to post-control, reducing business barriers such as practice certificates and business conditions. This creates more favorable conditions for businesses. The current legal procedure issue is different in many places, but with Resolution 68, the regulations are uniform across the country, helping businesses easily expand investment in many different localities.

Bring the resolution into life soon

Although the resolution is considered a “breakthrough in ideology and thinking” and has a strong spirit of innovation, what both people and businesses are most concerned about at present is the implementation phase. To effectively implement Resolution 68, it is necessary to clearly establish priorities in action groups. A transparent mechanism is needed for businesses to see where they are in the policy chain.

From the perspective of local small businesses, Mr. Do said that Resolution 68 will create many opportunities for the private economic community in Binh Phuoc to access more diverse resources, along with incentives in capital, policies, digital transformation, science , technology, etc.

Mr. Do hopes that Resolution 68 will soon be fully institutionalized to maximize its effectiveness in practice, helping the private economy to grow. In particular, he hopes to see immediate institutional and business environment reforms to simplify procedures, ensure transparency, and reduce compliance costs for businesses. Along with that, the State will provide additional support for the private economy to access capital and resources; support businesses to connect with markets, labor, and promote investment.

According to Resolution 68, supporting the development of the private economy is a "necessary and urgent" task to realize the country's development goals in the era of rising up.

According to the spirit of Resolution 68, it can be seen that for the first time, the private economy is identified as “the most important driving force” of the national economy, instead of “one of the driving forces” as before. This change is historic in the Party’s thinking and orientation for economic development. The Resolution coming into life will create a great driving force for private enterprises to develop sustainably, bringing the country’s economy to continue to grow.

Thoroughly grasping the topic "The core content of Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development and the plan to implement Resolution No. 68-NQ/TW", Prime Minister Pham Minh Chinh emphasized: Resolution 68, although newly issued, has been enthusiastically responded to by the entire political system and the entire population, especially the business community, entrepreneurs, and business households, considering this a breakthrough in development thinking, becoming a "revolution in thinking and institutions" for the private economy, creating and strengthening trust, promoting the private economy to rise, break through, and contribute to the country.

Resolution 68 sets out breakthrough guiding views on private economic development, in which the following highlights: the private economy is the most important driving force of the national economy, the pioneering force promoting industrialization, modernization, and economic growth; developing the private economy quickly, sustainably, effectively, and with high quality is both a central and urgent task and a long-term strategic one; completely eliminating perceptions, thoughts, concepts, and prejudices about the private economy; considering entrepreneurs as soldiers on the economic front...

The resolution sets the target: By 2030, the country strives to have 2 million active enterprises. There will be at least 20 large enterprises participating in the global value chain. The average growth rate of the private economy will reach about 10-12%/year, higher than the growth rate of the economy; contributing about 55-58% of GDP, about 35-40% of total budget revenue...

In order for Resolution No. 68 to come into practice and be effective, Prime Minister Pham Minh Chinh requested that all levels, sectors and localities pay special attention to organizing and implementing it, ensuring proactiveness, timeliness, flexibility and efficiency; assigning tasks with specific deadlines; regularly inspecting, evaluating and supervising implementation, and promoting the responsibility of leaders. The Prime Minister believes that with its revolutionary and breakthrough solutions, Resolution 68 will be a strong source of inspiration, "fueling" the business community and entrepreneurs to commit, look far and wide, think deeply and do big, overcome their own limits, create new values, and rise up with the whole country in the new era.

Source: https://baobinhphuoc.com.vn/news/4/173045/duong-bang-cho-kinh-te-tu-nhan-cat-canh