Do not let "policy profiteering" of private economic development mechanisms

The leader of the Hanoi National Assembly Delegation chaired the group discussion session on the afternoon of May 15. Photo: Mai Huu

Need to specify and detail support for businesses

Delegates agreed that the contents of the draft Resolution clearly demonstrated the spirit of implementing Resolution No. 68-NQ/TU dated May 4, 2025 of the Politburo on private economic development, introducing many breakthrough policies, such as institutional innovation, removing many bottlenecks, supporting specialized science, and not "criminalizing" economic relations. This is the driving force for all people to enthusiastically participate in production, business and technological innovation activities, daring to commit and invest in production and business, and developing the country's economy.

In order for the Resolution to come into life, delegate Nguyen Thi Lan (Hanoi Delegation) said that it is necessary to concretize this support policy for effectiveness; there must be very specific policies, clear objects, clear support levels, clear financial sources, because up to now there have been many support policies but the application in practice has not been as expected or the implementation has not been really synchronous, so the effectiveness is not high.

Delegate Tran Quoc Tuan (Tra Vinh delegation) stated that the draft regulation stipulates that inspection and examination of each enterprise, business household, and individual business must not be carried out more than once a year, except in cases where there is clear evidence of violations. According to the delegate, such a regulation is completely consistent with the Party and State's policy to create conditions for the private economy to develop more strongly.

However, delegate Tran Quoc Tuan is concerned that if the regulations are not clear, it will create a legal gap that can be easily exploited. The delegate believes that if the private economy is to develop, legal regulations need to be designed tightly, transparently and issued in a way that provides special support to create maximum convenience for private enterprises to truly be the main driving force for growth.

Delegate Tran Kim Yen (Ho Chi Minh City delegation) discussed in groups. Photo: Do ​​Trung

Delegate Tran Kim Yen (Ho Chi Minh City Delegation) emphasized the view that what the private sector can do, the state should assign to the private sector. Regarding the business environment, the delegate said that new businesses and startups really want equality in business. “Backyard businesses, “blue and red teams” are clearly a big obstacle for businesses doing business properly,” Ms. Yen said.

Delegate Tran Kim Yen said that regulations on support for access to land and production and business premises are what businesses are looking forward to, but in reality, it is very difficult for businesses to access them. “There are regulations, even laws, but businesses can only receive support from the State. For example, the Law on Support for Small and Medium Enterprises, if possible, we should survey how many businesses benefit from this law,” the delegate said, emphasizing that it is necessary to specify and detail support for businesses.

...But also have to prevent cheating

Also concerned about the issue of support for renting houses and land that are public assets to enterprises, delegate Le Quan (Hanoi delegation) proposed that this regulation should be assigned to the Government to guide public service units that rent houses and land that are public assets to enterprises. In addition, the delegate suggested adding to the regulation on piloting the appointment of contractors and placing orders for enterprises that apply scientific and technological solutions and innovation that have proven to be effective.

Delegate Nguyen Nhu So (Bac Ninh Delegation) said that it is necessary to increase the corporate income tax exemption period to 5 years, then continue to reduce 50% of the tax payable in the next 5 years to create a long enough "financial space" for the group of innovative startups. Because, the delegate said, the exemption of corporate income tax for only 2 years and a 50% tax reduction in the next 4 years as in the draft is too short compared to the actual development cycle of innovative startups; it does not create a strong motivation to encourage businesses to accumulate internal resources, invest in research and development, and production and business activities.

Delegate Hoang Van Cuong (Hanoi Delegation) speaks at the discussion group. Photo: Nhu Y

Delegate Hoang Van Cuong (Hanoi Delegation) commented on the regulation on exemption from inspection at enterprises and business households that comply with legal regulations, which should have specific criteria or be assigned to the Government for detailed regulations. Regarding the regulation on the fund to support the development of small and medium enterprises, the delegate said that it is necessary to allow localities to use the budget to supplement the fund's charter capital; at the same time, it is necessary to stipulate loan guarantees so that many enterprises can access capital; and encourage private funds to participate in supporting the development of small and medium enterprises.

Regarding the encouragement of business households to establish enterprises, delegate Hoang Van Cuong said that the regulation of exempting corporate income tax for small and medium enterprises in the first 3 years from the date of first granting of business registration certificate will lead to the situation of "taking advantage" of the policy.

“If you set up a business and operate for 3 years, you will be exempted from taxes, but in the 4th year you have to pay taxes, then you cancel the business and register it under the name of your wife or children, or even hire a motorbike taxi in the name of the business owner, because registering a business is very easy. This will not create a stable business,” said delegate Cuong, adding that there will be an unreasonable situation with businesses that do not profit, such as creative startups that go bankrupt, and will not be entitled to this tax exemption policy if they continue to establish the business.

According to delegate Hoang Van Cuong, corporate income tax for small and medium enterprises should not be exempted continuously for 3 years, but the first year should be exempted, and only 50% should be exempted in the following years.

On the same day, the National Assembly discussed in groups the draft Law on Participation in United Nations Peacekeeping Forces.

Source: https://hanoimoi.vn/khong-de-truc-loi-chinh-sach-cac-co-che-phat-tien-kinh-te-tu-nhan-702367.html