Government Action Plan on Private Economic Development

The government facilitates private sector access to resources.

The Resolution clearly states that, in order to achieve the goals set out in Resolution No. 68-NQ/TW, in the coming time, in addition to regular tasks, ministries, branches and localities need to specify and resolutely organize the implementation of the following tasks:

Renewing thinking, high unity in perception and action, arousing national belief and aspirations, creating new impetus and new momentum to develop the private economy.

In particular, ministries, branches, localities, business associations, construction industries and organizations shall regularly and extensively disseminate the content of Resolution No. 68-NQ/TW and the position and role of the private economy in the direction of: diversifying forms and methods of dissemination; specifying the content of dissemination for each target group; developing specialized communication programs on private economic development on television, radio, social networks, and electronic newspapers to arouse the spirit of entrepreneurship and start-ups, and strongly promote the development of the private economy.

Ministries, branches and localities develop plans to implement the Government 's Action Plan with specific quantified goals; assign responsibility to heads of agencies and units to thoroughly educate all civil servants, public employees and workers to change their thinking, awareness and actions, treat the private economy fairly and equally, and build an open, friendly, cooperative, honest and development-creating relationship between the government and businesses.

The Ministry of Culture, Sports and Tourism directs media and press agencies to improve the quality and effectiveness of propaganda work; provide objective, honest and complete information on the private economy; promote and disseminate good models, good practices, creativity and efficiency, and encourage the entrepreneurial spirit in the whole society; strictly handle and publicize acts of harassment, negativity, and providing false and inaccurate information that affect businesses, business households, individual businesses and entrepreneurs.

Promote reform, improve and enhance the quality of institutions and policies, effectively ensure and protect ownership rights, property rights, freedom of business, the right to fair competition and ensure contract enforcement of the private economy.

Regarding promoting reform, perfecting and improving the quality of institutions and policies , ministries, branches and localities thoroughly educate all civil servants, public employees and workers to strongly innovate administrative thinking from control to companionship, considering enterprises as "service" objects instead of "management" objects, ensuring the principle of "saying goes hand in hand with doing", unity in the entire political system"; strictly prohibiting the abuse of administrative decisions, the "ask - give" mechanism, and acts of local protectionism in the development and organization of policy and law implementation; unity in policy implementation between the central and local levels, between ministries and branches and between localities.

Organize the development and implementation of fair and transparent policies and laws according to market mechanisms, without discrimination between private enterprises and state-owned enterprises and FDI enterprises in mobilizing, allocating and using capital resources, land, resources, assets, technology, human resources, data and other resources.

Develop and implement a plan to review legal documents within the scope of the industry, field, and management area to handle according to authority or report to competent authorities for handling in order to eliminate unnecessary business conditions, overlapping and inappropriate regulations that hinder the development of enterprises and business households.

Thoroughly apply digital transformation to minimize the time for processing administrative procedures, costs of legal compliance and business conditions in regulations on market entry and exit, land, planning, investment, construction, tax, customs, insurance, intellectual property, standards, regulations... Deploy the provision of public services to enterprises and business households regardless of administrative boundaries. In 2025 - 2026, ensure the completion of the goals and roadmap specified in Resolution No. 66/NQ-CP dated March 26, 2025 of the Government on the Program to reduce and simplify administrative procedures related to production and business activities in 2025 - 2026.

Ministries and sectors shall develop and implement plans to review investment and business conditions for amendment or propose to competent authorities for amendment in order to transfer all business conditions, licenses, and certificates to publication and post-audit, except for a few fields that are required to carry out licensing procedures according to international regulations and practices.

Build a separate section on the unit's website and electronic information portal to receive and promptly resolve problems, feedback, and recommendations from people, businesses, and business households.

Review policies and programs to support businesses to amend or recommend competent authorities to amend in the direction of: (i) maximally simplifying documents, processes, and support procedures; (ii) increasing support levels and rates to approach market reality; (iii) ensuring adequate support resources; (iv) encouraging associations, research institutes, universities, etc. to participate in implementing support programs.

Develop a private economic development plan integrated into the annual and five-year socio-economic development plans of ministries, branches and localities; proactively arrange and integrate funding or synthesize and propose to competent authorities to arrange funding to implement support for the private economy.

To effectively ensure and protect ownership rights, freedom of business, property rights, equal competition rights and ensure contract enforcement of the private economy, ministries, branches and localities direct affiliated agencies, units and enterprises to urgently review and fully pay off outstanding contracts, and end the situation of capital appropriation by enterprises and business households.

Review and classify inspection subjects; end the situation of overlapping, duplicate, and prolonged inspections of the same content and field; the number of inspections at enterprises, business households, and individual businesses, including inter-sectoral inspections, must not exceed once a year, except in cases where sudden inspections are required when there are clear signs of violations. Publicly announce the inspection plan on the Information Portal so that the business community and business households know and coordinate implementation. Promote online and remote inspection activities; prioritize inspections based on electronic data, minimize direct inspections. Strictly handle acts of abusing inspections to harass and cause difficulties for enterprises and business households.

Develop and publish on the unit's website and information portal tools and solutions for early warning businesses and business households about risks of law violations based on the integration of management data and warnings from state management agencies.

Direct agencies and units to resolutely fight against counterfeit, pirated, and copyright infringement goods to protect the legitimate rights and interests of businesses and business households in accordance with the law.

Comply with the principle of clearly distinguishing criminal, administrative and civil responsibilities; between legal entities and individuals in handling violations. The Ministry of Public Security reviews and amends the Penal Code and the Criminal Procedure Code, closely coordinates with the court system and the People's Procuracy at all levels, directs and thoroughly implements the investigation and handling of violations to ensure the principle of clearly distinguishing criminal, administrative and civil responsibilities; between legal entities and individuals in handling violations as prescribed in Point 2.3, Clause 2, Section II of Resolution No. 68-NQ/TW.

Facilitate private economic access to resources of land, capital, and high-quality human resources

To increase access to land and production and business premises for the private economy , the Ministry of Agriculture and Environment reviews and amends the Land Law and its implementing documents, and supplements mechanisms and policies: (i) controlling land price fluctuations, especially land prices for production and business, non-agricultural purposes; (ii) assigning localities to: allocate land funds for investment in infrastructure of industrial parks, industrial clusters, and technology incubators for lease to high-tech enterprises, small and medium-sized enterprises, and innovative startups; policies to support land rent for the above subjects; complete the construction of the National Land Database and connect it with the National Data Center and related databases; issue regulations on management, operation, and exploitation of the national land database.

The Ministry of Finance reviews and amends Decree No. 35/2022/ND-CP dated May 28, 2022 of the Government regulating the management of industrial parks and economic zones, supplementing mechanisms and policies to assign localities to reserve at least 20 hectares/industrial park or 5% of the total land fund invested in industrial park infrastructure for lease to high-tech enterprises, small and medium-sized enterprises, and innovative startups.

Review and amend Decree No. 108/2024/ND-CP dated August 23, 2024 regulating the management, use and exploitation of houses and land that are public assets not used for residential purposes, assigned to organizations with the function of managing and trading local houses to manage and exploit to supplement the mechanism of exemption and reduction of costs for small and medium enterprises, supporting industry enterprises, and innovative enterprises renting houses and land that are public assets that have not been used or are not used locally.

The Ministry of Industry and Trade reviews and amends Decree No. 32/2024/ND-CP dated March 15, 2024 of the Government on management and development of industrial clusters to supplement mechanisms and policies for localities to reserve at least 20 hectares/industrial cluster or 5% of the total land fund invested in industrial cluster infrastructure for lease to high-tech enterprises, small and medium-sized enterprises, and innovative startups.

Localities promptly publicize land use planning and plans in the area; actively coordinate with political and social organizations to support businesses in site clearance; thoroughly apply digital transformation to provide online public services throughout the implementation of administrative procedures on land, reducing at least 30% of the time to handle land lease procedures and grant land use right certificates to people and businesses.

Ministries and branches urgently review and agree with the Ministry of Finance on a plan to handle houses and land that are public assets under their management but have not been used or are not in use, so that they can be handed over to localities for small and medium-sized enterprises, supporting industry enterprises, and innovative enterprises to rent for production and business purposes.

To promote and diversify capital sources for the private economy , the State Bank of Vietnam reviews and amends Circular No. 26/2024/TT-NHNN dated June 28, 2024 of the State Bank regulating financial leasing activities in the direction of expanding the list of leased assets such as software, exploitation rights, intellectual property, data; directs commercial banks to: (i) Prioritize credit sources for private enterprises, especially small and medium enterprises, supporting industry enterprises, innovative startups to borrow to invest in machinery, equipment, new technology, green transformation, digital transformation and export credit, supply chain credit; (ii) Encourage credit institutions to reduce interest rates for private enterprises to borrow to implement green, circular projects and apply the environmental, social, governance (ESG) standards framework; (iii) Improve internal regulations, encourage lending based on production and business plans, output market expansion plans; lending according to value chains and supply chains; lending based on payment data and cash flow; lending based on secured assets including: real estate, intangible assets, and future assets in accordance with legal regulations.

Promote the information sharing mechanism between the banking system, tax authorities and relevant agencies to ensure unified data on the operational and financial situation of enterprises and business households to increase lending to these subjects; closely monitor the operations of credit institutions and credit granting activities; strictly control lending activities to serve the internal ecosystem...

To improve the quality of human resources for the private economy, the Ministry of Education and Training reviews and supplements the method of assessment and recognition of graduation with the participation of enterprises for high-quality programs stipulated in the legal documents on enrollment and training regulations, vocational training; reviews the training program framework at all levels to supplement training content on creative skills, STEM, foreign languages, digital skills to meet the requirements of high-quality human resources associated with the development of science and technology, innovation, and startups; supplements the mechanism for training human resources according to orders of enterprises and business households; encourages educational and vocational training institutions to cooperate and develop joint training programs with foreign countries; receives and replicates advanced training programs to improve the quality of human resources for enterprises.

Promoting science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy

In particular, the Government requested the Ministry of Science and Technology to complete the draft Law on Science, Technology and Innovation to supplement the provisions: (i) enterprises are allowed to deduct up to 20% of their income subject to corporate income tax to establish a fund for science, technology, innovation, digital transformation and research and development; enterprises are allowed to use the fund to self-deploy or order research and development according to the product contract mechanism; (ii) enterprises are allowed to include in deductible expenses to determine taxable income for research and development activities 200% of the actual costs of this activity when calculating corporate income tax; (iii) there are mechanisms and policies to support costs for enterprises and private organizations when using laboratories, testing rooms, design support rooms, shared research equipment, testing centers, measurement, inspection and appraisal centers of the State to develop products.

The Ministry of Finance reviews and proposes amendments to the Law on Personal Income Tax, adding provisions: exemption of personal income tax on income from the transfer of shares, capital contributions, and capital contribution rights to innovative start-up enterprises; exemption and reduction of personal income tax for experts and scientists working at innovative start-up enterprises, research and development centers, and intermediary organizations supporting innovative start-ups.

Amending the Law on Support for Small and Medium Enterprises, adding provisions: (i) exemption and reduction of corporate income tax for innovative startups, venture capital fund management companies, and intermediary organizations supporting startups and innovation from the time corporate income tax arises; (ii) exemption of personal income tax and corporate income tax for individuals and organizations on income from the transfer of shares, capital contributions, and capital contribution rights to innovative startups; (iii) exemption and reduction of personal income tax for experts and scientists working at innovative startups, research and development centers, and innovation centers.

Strengthening connections between private enterprises, private enterprises with state-owned enterprises and FDI enterprises

The Government requests the Ministry of Finance to review and amend the Investment Law, Decision No. 29/2021/QD-TTg dated October 6, 2021 regulating special investment incentives and implementing guidelines to supplement: (i) preferential policies for large enterprises leading domestic supply chains, technology transfer commitments, product testing support, technical support, knowledge and human resource training, use of products and services of small and medium enterprises; (ii) policies to promote localization through developing linkages between FDI enterprises and domestic enterprises; (iii) applying appropriate localization rates according to the roadmap in priority foundation and spearhead industries; (iv) regulations for large FDI projects to have plans to use domestic supply chains right from the project approval stage.

Review and amend the Law on Support for Small and Medium Enterprises, supplementing policies: (i) supporting enterprises to obtain certificates and certifications that meet industry standards as required by export markets, enterprises at the head of the value chain, and FDI enterprises; (ii) supporting consulting and trade promotion services connecting FDI enterprises with domestic enterprises in industrial parks, key economic zones, and free trade zones; (iii) supporting start-ups for managers and technical staff who have worked at FDI enterprises to take advantage of their experience, knowledge, and management models to participate in the supply chain; (iv) allowing large enterprises to include in deductible expenses to determine taxable income when calculating corporate income tax on training and retraining costs for human resources for small and medium enterprises participating in the chain...

Ministries, sectors and localities promote the implementation of the Law on Support for Small and Medium Enterprises and support policies of sectors and fields to support small and medium enterprises to improve their capacity to connect with large enterprises and FDI enterprises; promote investment in priority, spearhead and fundamental sectors and fields...

Rapidly forming and developing medium and large enterprises and private economic groups of regional and global stature.

The Ministry of Finance shall review and amend the Law on Bidding and its implementing documents, supplement regulations on ordering, limited bidding or designated bidding or have preferential policies to encourage the private economic sector to participate with the State in strategic areas, key and important national scientific research projects and tasks (such as high-speed railways, urban railways, spearhead industries, energy infrastructure, digital infrastructure, green transportation, defense industry, security, etc.), urgent and pressing tasks.

Review and amend the Law on Investment under the public-private partnership model and documents guiding its implementation to diversify and improve the effectiveness of forms of cooperation between the State and the private economic sector through public-private partnership (PPP) models, public leadership - private governance, public investment - private management, private investment - public use, in the fields of economic infrastructure, cultural - social infrastructure, information technology and communications.

Build and implement the Program to develop 1,000 typical and pioneering enterprises in science and technology, innovation, digital transformation and green transformation, high-tech industry, and supporting industry.

The Ministry of Industry and Trade builds and implements the Go Global Program based on reviewing and integrating current or planned business support programs of the industry, focusing on support solutions for markets, brands, distribution channels, logistics, insurance, consulting, legal, resolving business and trade disputes, mergers and acquisitions, and connecting with multinational corporations...

Substantial and effective support for small, micro and household businesses

The Ministry of Finance researches and completes the legal framework for individual businesses in the direction of: (i) regulating the management model, financial and accounting regimes... (ii) having a policy of providing free digital platforms, shared accounting software, legal consulting services, training on business administration, accounting, tax, human resources, and law for business households and individual businesses.

The Ministry of Finance reviews and amends legal regulations on financial, accounting, tax and insurance regimes for micro-enterprises in the direction of simplification, ease of compliance, ease of implementation, and no need for accounting and administrative personnel to encourage business households to switch to operating under the enterprise model; reviews and amends the Law on Tax Administration to abolish lump-sum tax for business households; amends the Law on Support for Small and Medium Enterprises, adding policies to provide free digital platforms, shared accounting software, legal consulting services, training on business administration, accounting, tax, human resources, and law for small and micro-enterprises.

Promote business ethics, promote social responsibility, strongly promote the entrepreneurial spirit, create all favorable conditions for businessmen to participate in national governance.

The Ministry of Culture, Sports and Tourism researches and develops a project on ethical standards and business culture associated with national identity and access to the quintessence of world business culture.

The Ministry of Education and Training reviews the training program framework at all levels to supplement training content on entrepreneurship and business start-ups to promote the spirit of entrepreneurship and business start-ups among students.

Ministries, branches, localities, organizations, associations representing enterprises regularly propagate to raise awareness for the team of entrepreneurs, enterprises, business households, and individuals to conduct business honestly, with integrity, ethics, business culture associated with national identity, with social responsibility, with awareness of environmental protection; respect for the law, with ambitions and aspirations to build a rich, strong, prosperous country, enhance the position and image of Vietnamese enterprises and entrepreneurs.

Regularly educate cadres, civil servants, public employees, and workers to proactively and wholeheartedly resolve problems for businesses according to their functions, tasks, and authority; promptly report to superiors for handling and resolving issues beyond their authority; build a close, practical, sharing, open, and sincere relationship between the government and businesses...

Associations, industry associations, and organizations representing entrepreneurs and enterprises must urgently consolidate and enhance their roles, functions, tasks, and operational efficiency to protect the legitimate and legal rights and interests of enterprises and entrepreneurs; improve the quality of participation in formulating, criticizing, and supervising the implementation of policies and guidelines; improve capacity and participate in implementing programs and policies to support the private economy; communicate to raise members' awareness of ethics, responsibility, and business culture; and be honest in handling work with state agencies to ensure that the true nature of the matter is reflected, not taking advantage of, or corrupting officials and civil servants...

Phuong Nhi

Source: https://baochinhphu.vn/ke-hoach-hanh-dong-cua-chinh-phu-ve-phat-trien-kinh-te-tu-nhan-102250519174601786.htm