The Hue City National Assembly Delegation discussed in group 7 with the delegations: Thai Nguyen, Lang Son, Kien Giang .

Resolution 68 – the right policy

At the discussion session on the draft Resolution of the National Assembly on mechanisms and policies for private economic development, National Assembly deputies all agreed that Resolution 68 of the Politburo on private economic development is an extremely correct policy, especially in the context of the economy being affected by many external factors.

Delegate Nguyen Hai Nam (National Assembly Delegation of Hue City ) proposed tax exemption for the first three years for innovative start-up businesses. Photo: Provided by the city's National Assembly Delegation

Delegate Nguyen Hai Nam (National Assembly Delegation of Hue City) analyzed: The three main economic sectors today are the State, FDI and private sector - each sector has its own role. However, reality has proven that the State and FDI sectors both have limitations, especially their dependence on capital, technology and international markets.

“When the world changes, what does not belong to us will no longer be a support. We must develop a strong private economy with real competitiveness to be able to talk about self-reliance,” said Mr. Nam.

Sharing the same view, delegate Nguyen Cong Hoang (National Assembly Delegation of Thai Nguyen Province) cited examples from major economies such as the US, EU, and Japan - where the private sector contributes up to 68% of GDP, creates the majority of jobs, and is the "cradle" of giant corporations such as Apple, Amazon, Alibaba, and Samsung.

According to Mr. Hoang, those brands were not created by luck, but by a stable, long-term, and effective legal and policy ecosystem. If Vietnam wants to have “its own Apples,” it must start with policy.

“We cannot plant a tree and let it survive the storm of procedures, lack of capital, lack of land, lack of brand protection,” delegate Nguyen Cong Hoang said at the discussion session. He did not mention anyone in particular, nor did he mention a specific enterprise. But the image of a “young tree” is an accurate metaphor for millions of small and micro-private enterprises – a force expected to become one of the three pillars of Vietnam’s economic development in the new period.

A prominent proposal from delegate Nguyen Hai Nam is to abolish the procedure of “approving investment policies” for projects that do not use state capital. This procedure was once expected to help tightly manage capital flows, but has now become a “golden hoop” that constricts the development of private enterprises.

Mr. Nam analyzed: Contents such as location, objectives, scale, capital, etc. have been clearly regulated by specialized laws. The steps of technical appraisal, environmental impact assessment, planning, etc. all have responsible agencies. “There is no reason to need another layer of “permission” to invest,” Mr. Nam said; at the same time, he emphasized: “It is not just a theory, reality also proves it. According to the report of the National Assembly Economic Committee, there are currently more than 2,000 projects stuck due to investment approval procedures. Many investors have spent years without being able to start construction. “Every day of delay is an additional cost, a lost opportunity. Businesses cannot wait forever,” Mr. Nam emphasized.

Delegate Nguyen Cong Hoang (National Assembly Delegation of Thai Nguyen Province) spoke at the group discussion session. Photo: Provided by the City National Assembly Delegation

Post-check instead of pre-check        

Quoting the spirit of General Secretary To Lam's article on Resolution 68, delegate Nguyen Hai Nam said that shifting the entire administrative process to post-audit is a necessary step, in line with international practice and especially suitable for the digital economy that is developing strongly in Vietnam.

He agrees with the view that freedom of enterprise is a given, and can only be limited for truly special reasons such as national defense, security, morality, public health – and those restrictions must be clearly stated in the law.

“If we can’t manage it, we’ll ban it; if we can’t grant it, we’ll ask for it again – these mindsets need to be completely eliminated. Businesses aren’t afraid of management, they’re just afraid of being confused by overlapping procedures and conflicts between laws,” said Mr. Nam.

The National Assembly deputies also took time to talk about the biggest barrier facing private enterprises today, which is access to resources.

Delegate Nguyen Cong Hoang shared: Many small businesses, especially innovative startups, cannot borrow capital simply because they do not have collateral. Innovations, technology models, and software copyrights – which are “gold” in the digital age – are not considered as collateral by banks.

“We are forcing young entrepreneurs to have a land use right certificate to borrow capital to… apply technology. This goes against innovation,” Mr. Hoang stated.

Delegate Nguyen Hai Nam added: Not only capital, production premises are also obstacles. Many localities have land, but do not allocate reasonable land funds for private enterprises. "There needs to be a flexible, transparent, and fair land policy for the private sector, not just giving priority to the state or FDI," Mr. Nam proposed.

Regarding taxes, delegate Nguyen Hai Nam also proposed tax exemption for the first three years for innovative start-ups. “If we want the private economy to grow, we must start with specific policies, remove real barriers, and support with mechanisms, not just slogans,” delegate Nguyen Hai Nam emphasized.

Le Tho

Source: https://huengaynay.vn/chinh-tri-xa-hoi/theo-dong-thoi-su/go-nut-that-cho-kinh-te-tu-nhan-153625.html