Comments on draft documents of the 14th Congress: Private enterprises expect to make a breakthrough

Private business owners now not only have confidence but also enjoy more favorable conditions than before, contributing to promoting the private economy and creating momentum for economic growth.

The Politburo ’s recent key resolutions have motivated businesses to expand production and business. Currently, the draft documents to be submitted to the 14th National Congress of the Party are also being widely consulted.

The orientations in the document are highly appreciated, trusted and expected by businesses to continue to open up stronger development opportunities for the private economic sector.

Opportunities from major policies

As Chairman of the Ho Chi Minh City Business Association, Mr. Lu Nguyen Xuan Vu, General Director of Xuan Nguyen Group, shared that Vietnam is currently in a development phase with many favorable conditions both domestically and internationally. Vietnam is a safe and ideal country for investors, and the business environment is increasingly creating favorable conditions for domestic enterprises to develop.

Mr. Lu Nguyen Xuan Vu, General Director of Xuan Nguyen Group, Chairman of the Ho Chi Minh City Business Association, contributed comments to the draft document. (Photo: Xuan Anh/VNA)

From the perspective of private enterprises, according to Mr. Lu Nguyen Xuan Vu, the private economic sector has previously received less attention than the state economic sector or foreign investment. However, recently, the resolutions of the Politburo, especially Resolution 68-NQ/TW and a number of other policies have promoted the confidence of the private business community in the Party's guidelines, policies and leadership.

“Spirit is an important factor and confidence is the driving force for development. Private business owners today not only have confidence but also enjoy more and more favorable conditions than before. This contributes to the development of businesses in the private economic sector, becoming an important driving force for economic growth,” said Mr. Lu Nguyen Xuan Vu, adding that the Party and State are looking for ways to support the private sector by injecting resources into the economy and creating a fair mechanism with other economic sectors.

According to Mr. Lu Nguyen Xuan Vu, these are favorable conditions for private enterprises to develop. The awareness and belief of State leaders in the private economy are very important, because if the political mechanism creates favorable conditions, enterprises will develop strongly.

Currently, large enterprises have effectively applied policies, but it is still necessary to soon issue laws and circulars to create a clear legal corridor for private enterprises, especially small enterprises.

In the draft report summarizing 40 years of innovation, our Party assessed that the strong development of the Fourth Industrial Revolution with breakthroughs in artificial intelligence (AI), big data and automation opens up great opportunities that need to be grasped for breakthrough development. Deep integration into the regional and world economy creates opportunities to expand production, solve employment, stabilize and improve people's lives; create new business opportunities for enterprises, expand export markets for goods.

To take advantage of development opportunities, Mr. Lu Nguyen Xuan Vu said that businesses need to continuously update policy information, promptly grasp adjustments to domestic and international laws and regulations to take advantage of opportunities; prepare stable input sources, build a distribution system suitable for current trends, especially the digitalization trend.

With the current relatively low interest rates, businesses should take advantage of stimulus funds and support from banks and the Government to expand production and develop markets. In addition, businesses should also seek export markets to increase profits and build the Vietnamese brand in the international market.

In the coming time, our Party determines to create a favorable and safe environment for private enterprises to have equal access to and effectively use resources; expand production and business, diversify markets, build and develop brands, research and apply science, technology, and innovate. The Party also encourages enterprises to invest in developing and applying science and technology, especially new and high technology.

Ms. Lam Thuy Ai, General Director of Mebi Farm Joint Stock Company, said that recently, the State and Government have opened many opportunities for businesses to change their production and business models.

Ms. Lam Thuy Ai, General Director of Mebi Farm Joint Stock Company, contributed comments to the draft document. (Photo: Xuan Anh/VNA)

Investing in technology costs a lot of money, but if divided over many years and amortized over many years, the cost is very low, while the value and benefits it brings to the community are huge.

According to Ms. Lam Thuy Ai, in reality, many businesses like Mebi Farm have applied technology and digital transformation for a long time, and Resolution 57-NQ/TW and Resolution 68-NQ/TW are affirmations of the Party and State.

Policies on high-tech development, high-tech agriculture, high-tech industry or automated and digital factories have been implemented by the State. “Now, the State is more specific with resolutions, helping to support businesses more clearly and we are confident that the State is supporting business development,” Ms. Ai shared.

Support small business development

Mr. Pham Van Triem, Chairman of the Ho Chi Minh City Association of Small and Medium Enterprises, shared that after the merger, implementing a two-level local government will create convenience for the business community and people because the commune-level government is closer to the people and solves work more quickly.

Mr. Pham Van Triem, Chairman of the Ho Chi Minh City Association of Small and Medium Enterprises, gave comments on the draft documents of the 14th National Party Congress. (Photo: Tien Luc/VNA)

Resolution 68 of the Politburo is being implemented quickly and synchronously to help develop the private economy, bringing the vitality of the business community into reality and practice.

Draft documents identify that private economic development is truly the most important driving force of the national economy; focus on developing large, strategic Vietnamese private corporations, and actively supporting small and medium-sized enterprises.

From this perspective, according to Mr. Lu Nguyen Xuan Vu, the private economic sector consists of two parts: the formal and informal economy. The informal sector accounts for a large proportion, especially in urban areas, contributing about 1/3 of GDP, creating jobs but not yet fully managed. Therefore, creating conditions for the informal sector to shift to the formal economy is beneficial to the State, protects the rights of workers, and promotes the comprehensive development of the private sector.

Mr. Lu Nguyen Xuan Vu assessed that capital support policies, incentives and business connections are also important factors. However, many small businesses, especially in the informal sector, have not yet seen the specific impact of the policies.

This requires a more in-depth approach and dissemination of policies, and must directly impact the thinking and beliefs of entrepreneurs. Small and micro enterprises need support from local authorities, closer to them. Deep decentralization to the commune and ward levels helps to resolve procedures and projects at small scale more quickly and effectively.

Ho Chi Minh City has more than 500,000 enterprises, of which small and medium enterprises account for 98%. This force is very large and contributes to the annual GRDP of about 38-45%, creating jobs for about 5 million workers.

Mr. Pham Van Triem hopes that, along with Resolution 68, the Central Government will have more support policies for the business community, especially in terms of capital, because small and micro enterprises are in dire need of capital. The Association will support the business community, together with local authorities, to effectively implement Resolution 68./.

(TTXVN/Vietnam+)

Source: https://www.vietnamplus.vn/gop-y-du-thao-van-kien-dai-hoi-xiv-doanh-nghiep-tu-nhan-ky-vong-but-pha-post1074079.vnp