At the meeting to implement the plan for private economic development on November 5th, exactly six months after the Politburo 's Resolution 68 on private economic development was issued, Ho Chi Minh City set a target of having 750,000 private enterprises by 2030, contributing 55%-58% of the city's GRDP and 50%-55% of its total budget revenue. Eight groups of solutions were outlined to gradually realize this goal.
Over the past six months, the city has demonstrated a proactive and direct approach to key areas that are hindering private sector economic resources, while also increasing its capacity to implement strong commitments to this "most important driving force" of the economy.
One of the clearest manifestations is the presence of Vietnamese private joint ventures and corporations in strategic infrastructure projects, especially transportation and urban infrastructure. Examples include Vingroup investing in a railway connecting Can Gio and researching a connection between Can Gio and Vung Tau; Thaco Truong Hai researching investment in the Ben Thanh - Thu Thiem railway; Becamex researching investment in the Bau Bang - Cai Mep railway; and Sovico researching investment in Metro Line 4…
This is concrete evidence of a shift in mindset and institutions to operate according to that mindset. Ho Chi Minh City has proposed amending and supplementing Resolution 98/2023/QH15 to create a legal basis for removing bottlenecks, unlocking resources, and attracting strategic investors into high-tech fields, urban railways, green energy, and free trade zones.
In the area of administrative reform and digital transformation, the city is accelerating the "online" connection of inter-sectoral and inter-ministerial data, expanding online public services, accepting applications 24/7, while simultaneously decentralizing and delegating more authority to specialized agencies. At the same time, it is shifting from "pre-approval" to "post-approval," applying the "one-stop shop - one decision - one point of responsibility" model in receiving and processing investment applications…
In particular, emphasis was placed on the implementation of commitments and the results achieved, such as the Chairman of the Ho Chi Minh City People's Committee directly directing the removal of "bottlenecks," which resolved 616 out of 838 problematic projects and land plots, with a total investment of over 425,000 billion VND and an area of 2,130 hectares, achieving a rate of over 73%, instilling confidence in businesses regarding the city's investment environment.
It is also noteworthy that, in addition to prioritizing and enhancing the capabilities of domestic private enterprises, the city government also connects FDI enterprises with domestic enterprises to form new industrial and service production chains, creating a strong, balanced, and sustainable investment attraction, especially in the technology sector.
Private enterprises have also increased their capabilities and presence in strategically important positions, such as collaborating with ministries and cities to implement large-scale data center projects for strategic investors, serving digital data infrastructure, cloud computing, and the development of digital government.
Alternatively, within the framework of human resource development and high-quality education, the business-university-government cooperation mechanism is establishing training programs in digital skills, technology skills, English, and international expertise for the workforce; training 10,000 personnel for new industries, focusing on green transformation, data, and innovation from now until 2030.
Clearly, when the State focuses on removing obstacles and perfecting mechanisms and legal frameworks, businesses will have the basis to overcome barriers, remove bottlenecks, and contribute intellectual capital and production capacity to operate a dynamic and developing "market". However, challenges remain, such as: the rate of business dissolution and temporary suspension of operations, although reduced compared to the beginning of the year, is still high; some communes and wards lack highly specialized personnel in finance, construction, and urban management, affecting the quality and progress of administrative procedures…
These limitations necessitate a more vigorous pace of reform, innovation in governance methods, and a more extensive application of technology in processing investment and land-related documents. It is hoped that central ministries and agencies will soon issue specific guidelines on mechanisms to support digital transformation for household businesses and small enterprises. Specific guidance on accessing the Investment Support Fund under Decree 182/2024/ND-CP is also needed to provide businesses with additional resources for technological innovation and green transformation. Simultaneously, it is crucial to empower cities to definitively resolve outstanding projects and land plots, freeing up social resources for investment and development.
Source: https://www.sggp.org.vn/khi-kinh-te-tu-nhan-tang-toc-post822383.html
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