Realizing Resolution 68 requires the cooperation between the State and enterprises.

According to economic experts, to realize Resolution 68, the Vietnamese economy needs to shift from thinking to action, with consistent cooperation between the State and enterprises to enhance self-reliance and self-improvement.

On May 30, Thanh Nien Newspaper organized a workshop on “Building a self-reliant economy” to find solutions to realize Resolution 68 of the Politburo in developing the private economy.

Need initial support

Ms. Nguyen Thi Thao Nguyen, Deputy General Director of Hoa Phat Group, said that Resolution 68 on private economic development is considered a major policy boost, removing long-standing bottlenecks and arousing national spirit in the business community. In fact, each enterprise is like a cell of the economy. Only when each cell is healthy can the economy be healthy. Therefore, enterprises not only focus on the international market but also clearly define their role as domestic pillars by providing products for domestic infrastructure and industry, demonstrating the spirit of self-reliance.

According to Ms. Nguyen Thi Thao Nguyen, Hoa Phat has proven its domestic production capacity when exporting steel pipes to the US without being subject to anti-dumping tax thanks to its high localization rate and clear origin of raw materials. However, Vietnamese enterprises that want to survive and develop must not only compete with cheap imported goods but also be strong enough to be a domestic pillar, in line with the spirit of self-reliance and self-reliance according to Decree 68.

Similarly, Mr. Pham Van Viet, Chairman of the Board of Directors of Viet Thang Jean, said that in order to meet international requirements and standards, the company had to sell land to invest in a 3D technology line, with a capital of up to 25 million USD. Without investment and conversion, the company would not be able to compete and export goods. However, that investment is really a burden for the company in an increasingly difficult economic situation.

Most textile, footwear, and leather enterprises are small and medium-sized enterprises, so they have difficulty investing in technology.

According to Mr. Pham Van Viet, the textile and garment industry with more than 11,000 enterprises, most of which are micro-enterprises or households, is seriously lagging behind in productivity and technology. Currently, the rate of enterprises applying automation is only about 6%. Meanwhile, China and Bangladesh have applied 4.0 technology for a long time, so the cost is low and the quality is stable. Therefore, if Vietnamese enterprises do not invest in technology and do not change, they will lose right at home. However, the investment capital for applying production technology is not small.

Accordingly, businesses need more substantial policies on preferential credit, green finance, land in industrial parks and especially funds to support technological innovation in production. “If businesses want to make a breakthrough, the State must provide initial support, like stepping up the pedal to push harder. Otherwise, very few small and medium-sized enterprises will be able to invest like the company has done,” said Mr. Viet.

According to Mr. Truong Sy Ba, Chairman of Tan Long Group, to invest in modern and qualified technological lines, businesses need a wider and more open source of capital. The current bank lending interest rate of 8-10% is a big challenge because the profit margin of the agricultural sector is not high. Therefore, businesses want to have more preferential interest rates for the agricultural sector, especially giving priority to those units that are investing heavily in infrastructure, processing, and post-harvest preservation.

Must master the game

According to Mr. Nguyen Ngoc Toan, Editor-in-Chief of Thanh Nien Newspaper, the difficulties of the globalization period such as the pandemic, climate change, supply chain disruptions, etc. have tempered the mettle of the nation and Vietnamese businesses. However, to develop a sustainable economy, Vietnam cannot rely on luck but must rise up with internal strength. Each time it overcomes difficulties, businesses become more mature and resilient.

Enterprises need initial support in terms of capital, premises... to be able to develop the private economy in the spirit of Resolution 68.

However, according to economic experts, to become self-reliant, Vietnamese enterprises must first overcome their internal limitations, which is that the production sector still depends on imports. Every year, Vietnam must import up to 85.4% of fiber; 50% of raw materials for the textile and garment industry; 45% of leather and footwear and up to 80% of plastic products. Even agriculture, which is a strength, depends on 70% of machinery, 80% of vegetable seeds and 60% of corn seeds from abroad. Therefore, Vietnamese enterprises need to control both input and output, which means developing the supporting industry and diversifying export markets. Only then can Vietnamese enterprises enter the global playing field with an equal mindset and not always be the weaker side in bargaining over taxes and product origins.

Dr. Tran Du Lich, an economic expert, said that building a self-reliant and self-reliant economy does not mean being self-sufficient, closed and isolated from the world. Vietnam cannot return to the period when each country made its own shoes and clothes. Because the world is operating on the principle of division of labor, the important thing is to move from dependence to interdependence. Therefore, Vietnam needs to participate in the stages with the highest added value in the global supply chain if it wants to escape the outsourcing model, exporting a lot but earning low value.

According to Dr. Tran Du Lich, this is a favorable time for Vietnamese enterprises to make a breakthrough. Because the provisions of Resolution 68 have created a complete legal corridor for Vietnamese enterprises to take advantage of. The remaining important thing is the determination in implementing policies and substantive actions of all levels and sectors and how to effectively apply and deploy them to enterprises.

In addition, when applying Resolution 68, the business community also hopes to be able to compete equally with foreign goods imported into Vietnam. Recently, cheap foreign goods have flooded into Vietnam, causing unfair competition. In addition to competing in the international market, Vietnamese businesses also need to create a good enough domestic environment to develop more strongly.

According to VNA

Source: https://baoapbac.vn/kinh-te/202505/hien-thuc-hoa-nghi-quyet-68-can-su-dong-hanh-giua-nha-nuoc-va-doanh-nghiep-1043981/