Realizing Resolution No. 68-NQ/TW with science and technology

Resolution No. 68-NQ/TW sets the target of an average growth rate of the private economy from now to 2030 of about 10 to 12%/year. In addition, this sector will contribute about 55 to 58% of GDP and about 35 to 40% of total state budget revenue.

Prime Minister Pham Minh Chinh chaired the "Prime Minister with Enterprises" seminar to effectively implement Resolution 68-NQ/TW of the Politburo on private economic development.

The above goals require the private economic sector to truly make a breakthrough by taking science and technology development, innovation and digital transformation as the foundation.

After more than 5 months of implementation, Resolution No. 68-NQ/TW has initially shown its effectiveness, positively impacting the production and business activities of enterprises. This is clearly shown through the number of newly established enterprises as well as the skyrocketing state budget revenue from the private economic sector in recent months.

Actively participate

Immediately after Resolution No. 68-NQ/TW was issued, the National Assembly , the Government, ministries, branches and localities urgently institutionalized and developed action plans to implement the Resolution in their respective sectors, fields and localities, and issued a series of legal documents for practical implementation. Regarding institutional improvement, by the end of September, ministries had proactively cut 172 administrative procedures, simplified 718 administrative procedures and cut 222 business conditions.

The Prime Minister also approved a plan to continue cutting 348 administrative procedures, simplifying 1,703 administrative procedures and cutting 2,041 business conditions under the management of 14 ministries and ministerial-level agencies.

Of which, the Ministry of Industry and Trade alone plans to cut 98 and simplify 39 business conditions, accounting for 15% and 5.5% of the total number of existing business conditions, respectively. Thus, by the end of 2025, ministries and ministerial-level agencies are expected to abolish 520 and simplify 2,421 administrative procedures, accounting for more than 60% of the total number of administrative procedures related to existing production and business activities (2,941/4,888 administrative procedures).

On the other hand, in implementing assigned tasks, ministries and branches have also completed and advised the Government to promulgate many laws, decrees and decisions to improve the quality of institutions and policies for private economic development. For example, right in the 9th session of the 15th National Assembly, the Ministry of Finance completed and reported to the Government to submit to the National Assembly for approval Law No. 76/2025/QH15 amending and supplementing a number of articles of the Enterprise Law and Law No. 90/2025/QH15 amending 8 laws in the financial sector.

The Ministry of Finance also advised the Government to issue Decrees on business registration, bidding management, investment under public-private partnerships, taxes, etc. with many regulations supplemented and amended in the direction of simplifying documents and procedures, reducing the time limit for handling administrative procedures, ensuring that 100% of business and household registration procedures are carried out online throughout the process and without administrative boundaries within the provincial level.

Quickly seize the opportunity

The drastic participation of all levels and sectors in implementing Resolution No. 68-NQ/TW has contributed to bringing about extremely positive results, positively impacting the entrepreneurial spirit of the private economic sector. According to the Ministry of Finance, the number of newly established enterprises since the beginning of the year has reached more than 128,000 with registered capital reaching nearly 1,255 trillion VND, up 15.73% and 26.12% respectively; State budget revenue of the private economic sector from the industry, trade and services sectors has reached nearly 296 trillion VND, up 120% over the same period.

Chairman of CMC Technology Group Nguyen Trung Chinh commented: “Never before has the private economy been recognized and placed in such an important position as it is today, when the Party and State's policies and guidelines consider enterprises as the center of the innovation and development process. This helps Vietnam become an increasingly attractive investment destination for large global technology corporations and enterprises with the desire for Vietnam to participate more deeply in the international supply chain. This is a golden opportunity for private enterprises to connect, learn and cooperate together to build a global partnership ecosystem, thereby developing international technology products and services to serve the country's socio-economic development.”

Resolution No. 68-NQ/TW has set very ambitious goals for the development of the private economy, requiring businesses to proactively make breakthroughs by taking science and technology development, innovation and digital transformation as the foundation. In particular, artificial intelligence (AI) will be the key technology and create huge value, forecasted at about 15,700 billion USD, equivalent to nearly 14% of global GDP by 2030.

For Vietnam, if it seizes the right opportunity, AI can bring from 120 to 130 billion USD to the economy by 2040. This is the time for the private economy to take the pioneering role, leading the economy through science and technology development, innovation and digital transformation.

Accordingly, the private business community needs to quickly grasp and make strong investments, focusing on promoting research and development (R&D) activities as well as commercializing products on the basis of close links between businesses-research institutes-universities, forming innovative ecosystems.

In addition, businesses also need to promote digital transformation, transformation, and application of AI technology to comprehensively change the way of operation and interaction in all areas of society from the Government, businesses to people's lives, and at the same time change the way of working, operating, and interacting in organizations and businesses; thereby, improving performance, productivity, increasing value and creating a foundation for the digital economy. Thus, the private economic sector can truly develop into the most important driving force of the economy, meeting the goals set out in Resolution No. 68-NQ/TW.

NORTH MOON

Source: https://nhandan.vn/hien-thuc-hoa-nghi-quyet-so-68-nqtw-bang-khoa-hoc-cong-nghe-post916206.html