Private economy: Removing barriers - Assigning responsibilities

(Chinhphu.vn) - The birth of Resolution 68 of the Politburo with a clear orientation on private economic development has laid the foundation for a new policy turning point: Not only untying and removing barriers but also proactively assigning greater responsibilities to this sector.

According to experts, along with pressure from the Central Government to reform, localities must also take drastic action - Photo: VGP/Le Anh

Especially in the current context, private enterprises can boldly propose breakthrough initiatives. Create new, different models, based on high technology, startups, innovation and create real opportunities for enterprises.

This is the opinion given by experts at the Vietnam Economic Forum 2025 organized by the Labor Newspaper, session 2 with the theme: "Private economy: Removing barriers - Assigning responsibilities" held on June 5.

Localities need to take drastic action

According to Associate Professor Dr. Tran Dinh Thien, although Vietnamese private enterprises are still weak, they are very capable and always maintain a spirit of determination to contribute to the economy. If opportunities for this sector are expanded, the economic growth target of 8% and even reaching double digits is completely feasible.

Resolution 68 has placed the Party and State’s trust in private enterprises, creating a fair environment and new momentum for the development of this sector. However, enterprises must also be responsible for not letting down that trust, by making efforts and being proactive instead of just waiting for help. The State and enterprises must work together to achieve common development goals.

In particular, localities must also take drastic action. The motto "Assigning responsibilities - Removing barriers" must be implemented with the spirit of fundamental innovation, helping the Vietnamese economy rise to par with the world .

Associate Professor, Dr. Tran Dinh Thien commented that we are currently on the right track but need more positive and specific steps, in which Ho Chi Minh City is expected to be the leading locality, helping many private enterprises to "take off" and reach regional and world levels.

Private enterprises boldly innovate and create

Mr. Tran Anh Dung, CEO of Hung Hau Development Corporation, said that the biggest wish of many businesses today is to avoid the situation of "upper level, lower level congestion" and carry out a real revolution in administrative procedure reform.

In addition, it is necessary to create a favorable environment, untie and encourage enterprises to develop. Not only stopping at policies, the State also needs to nurture an ecosystem to support enterprises with financial and non-financial tools. It is necessary to focus on developing small and medium enterprises, because many large enterprises in the future are small enterprises of today.

Sharing the same view, Mr. Phan Dinh Tue, Chairman of the Board of Directors of Bamboo Airways, Vice Chairman of the Ho Chi Minh City Business Association (HUBA), said that it is necessary to clearly identify the barriers that the private sector is facing in order to assign responsibilities along with appropriate resources and support.

According to Mr. Tue, Resolution 68 sets a target of having 2 million enterprises nationwide, and we can completely upgrade and guide the approximately 5 million business households currently operating to participate in this target. However, to successfully transform from business households to enterprises, state and local management agencies need to have specific support methods to help them feel more confident in the transition process.

In that context, both businesses and banks need to change. In addition to supporting interest rate policies, banks need to participate in supporting business management.

On the association's side, Mr. Tue said that HUBA will coordinate with information technology companies to provide or even provide free management and accounting software for small, medium and micro enterprises, and especially business households when converting to enterprises, helping the conversion process go more smoothly.

Mr. Nguyen Quoc Ky, Chairman of the Board of Directors of Vietravel Group, said that the lack of investment in innovation is one of the factors that makes the products and services of enterprises uncompetitive and unable to create a difference in the market.

In addition, enterprises lack linkages in the value chain, often operating individually and fragmentedly, leading to low efficiency and difficulty in reaching out to the large market. These are two important factors that Vietnamese private enterprises need to overcome if they want to grow in the current context.

The State accompanies and supports private enterprises to overcome difficulties

Dr. Tran Du Lich believes that the spirit of Resolution 68 and Resolution 198 is to "remove barriers and assign responsibilities" to the private sector, and assigning responsibilities is very necessary.

However, according to Dr. Lich, before assigning tasks, it is necessary to carefully evaluate the financial capacity and execution ability of the enterprise. For a key project, it is very important to have independent and national consultants to thoroughly evaluate factors such as investment capital and technology according to international standards. Independent consultants help to choose the optimal solution, especially in terms of investment costs, which must be carefully and transparently calculated.

In addition, there needs to be a strict monitoring mechanism during project implementation. Assigning responsibility to the private sector does not mean giving it a free hand; there must still be a responsibility for strict monitoring, especially during project implementation.

Dr. Tran Du Lich emphasized: During the implementation process, state management agencies must have the responsibility to accompany, support and help enterprises overcome difficulties. If we do well in the above factors, we need to boldly assign important responsibilities to private enterprises, and at the same time, state agencies must be a solid support for them to carry out their work.

Le Anh

Source: https://baochinhphu.vn/kinh-te-tu-nhan-go-rao-can-giao-trong-trach-102250605140257374.htm