Businesses participating in trade promotion

Effective

Breakthrough policies in the spirit of Resolution No. 68-NQ/TW are opening up unprecedented development opportunities for the private sector . Many orientations and policies have been formulated, contributing to affirming the private economy as an important driving force of the national economy.

In Hue City, the Resolution has been implemented by clearly defining the responsibilities for carrying out tasks and solutions for each department, agency, and locality. Many policies supporting and promoting the development of the private economy have also been comprehensively and effectively implemented across all sectors. These include the application of digital transformation to minimize administrative procedure processing time and legal compliance costs; the development of plans to support investment procedures for key projects and projects with a total investment of 600 billion VND or more… Resources have been mobilized and concentrated to implement policies such as: providing free digital signatures and electronic invoices for newly established businesses; covering accounting fees for the first two years for business households converting to enterprises; and supporting shipping companies in opening container shipping routes and other entities transporting goods by container to and from Chan May port. Recently, the City People's Council also issued a policy to support the cost of purchasing cash registers for business households converting into enterprises.

Ms. Le Thi Hong Mai, Head of the Business Registration Department of the Department of Finance, shared that in addition to the city's policies, the Department also maximizes the use of central government support funds to implement policies supporting businesses in digital transformation and technology. Activities such as one-on-one consulting (directly at businesses) on human resources, finance, production, sales, and market; support for improving the capacity of business leaders; support for accessing credit and preferential loans; support for consulting on establishing intellectual property rights; and consulting on managing and developing products and services protected by intellectual property rights are also actively implemented.

Meetings and interactions with businesses, along with the improved operational efficiency of the four working groups led by the Chairman and Vice-Chairmen of the City People's Committee, have promptly supported the resolution of difficulties and accelerated the implementation of investment projects both within and outside the budget. Departments and agencies have also proactively coordinated in evaluating and advising on the issuance of plans to improve the Provincial Competitiveness Index (PCI); the Departmental and Local Competitiveness Index (DDCI); and incorporating DDCI results into the evaluation and ranking of administrative reform work of departments, agencies, and commune-level People's Committees, aiming to comprehensively improve the investment and business environment.

Thanks to this, initial results have been achieved in business development. By the end of 2025, the number of newly established businesses reached 1,042; for the first time, the city had over 1,000 newly established businesses, a 32% increase compared to the same period, with a total registered capital of VND 12,813 billion, a significant increase of 235%. These figures not only reflect economic recovery but also demonstrate the effectiveness of the government's support for businesses.

Building an ecosystem to support businesses.

According to data from the Department of Finance, there are currently approximately 6,700 operating businesses in the city, with an average registered capital of about 8.25 billion VND per business. Of these, large businesses with charter capital of 100 billion VND or more account for 2.6%; small and medium-sized enterprises with charter capital under 100 billion VND account for 97.4%. Businesses mainly operate in the service sector (65.7%), industry and construction (31.14%), and the remainder in agriculture, forestry, and fisheries. In addition, there are approximately 20,000 operating business households in the city, of which about 15,000 are subject to tax declaration and payment. The private sector contributes nearly 40% of the total local budget revenue and provides employment for nearly 115,000 workers in the city, playing a significant role in economic growth, raising people's incomes, and effectively addressing social issues.

To boost business development, the city has developed a program for the development of the private economy in 2026. Accordingly, the city aims to have approximately 1,100 new businesses established by 2026. The private sector is expected to contribute about 38% to the total budget revenue and create jobs for 125,000 local workers. The plan also outlines several implementation solutions, focusing on innovative thinking, raising awareness and promoting action, fostering confidence for the development of the private economy, and significantly improving the investment and business environment.

The policies are diverse, ranging from tax and fee support; support for access to land and production/business premises; incentives in contractor selection; support for human resource development; support for science, technology, innovation, and digital transformation… In particular, the policy of supporting the cost of purchasing cash registers for business households converting to enterprises… is expected to create new impetus in achieving the enterprise development goals in 2026 and subsequent years.

Mr. Tran Van My, Chairman of the City Business Association, said that the work of accompanying and supporting businesses has seen many positive changes in recent times. Departments and agencies have closely coordinated with associations in promptly identifying and resolving difficulties, as well as implementing many policies to support businesses. The Association hopes to continue receiving the support from the government and departments in resolving difficulties for businesses and investors in the area.

The Chairman of the Business Association also proposed that, in addition to the support solutions and policies that the city is promoting, the city needs to continue to significantly improve the investment and business environment; simplify administrative procedures in a substantive way, especially those related to investment and taxes, creating favorable conditions for businesses to access land, capital, and high-quality human resources. At the same time, it should encourage innovation and strengthen linkages between local businesses and major value chains. It should build an ecosystem to support businesses that are both capable and enthusiastic, so that the private sector can contribute even more to local economic development.

Text and photos: Hoang Anh

Source: https://huengaynay.vn/kinh-te/khi-nghi-quyet-dan-duong-162087.html