On the morning of May 31 in Hanoi, Prime Minister Pham Minh Chinh chaired a dialogue with businesses and business associations to effectively implement Resolution 68-NQ/TW of the Politburo on private economic development.
Private sector contributes more than 50% of GDP but still "not strong enough"
Presenting the Report on the development of the private economy, Deputy Minister of Finance Le Tan Can said: the private economic sector currently contributes more than 50% of GDP, employs 82% of the workforce and accounts for more than 30% of state budget revenue. However, despite growing in quantity, this sector is still "large but not strong".
Specifically, nearly 98% of private sector enterprises are micro, small and medium-sized, with limited competitiveness, operational efficiency and management skills. Labor productivity has improved but is still lower than that of foreign-invested enterprises (FDI) and state-owned enterprises (SOEs). Notably, by 2024, the rate of operating enterprises will only reach about 10 enterprises per 1,000 people - much lower than other countries in the region.
In addition, the digital transformation process in this region is slow. About 65% of small and medium enterprises do not have a strategy for applying digital technology . The rate of private enterprises participating in the supply chain of FDI enterprises is also low, only at over 20%.
The Deputy Minister also pointed out that access to development resources is still difficult, especially in terms of finance, credit, land and high-quality human resources. Although accounting for nearly 98% of the total number of enterprises, the group of small and medium enterprises only accesses less than 20% of the total outstanding credit of the banking system.
In addition, the private economic sector has not yet truly become the driving force of the economy as expected. A number of enterprises have not strictly complied with the law, lacked information transparency; there is still short-term business thinking, lack of strategic vision; the business ethics and culture of a number of entrepreneurs are still limited. The management of individual business households also has many shortcomings.
According to Deputy Minister Le Tan Can, there are many reasons leading to the limitations of the private economic sector in recent times.
First of all, the institutional and legal systems still have many shortcomings and overlaps; the process of reforming administrative procedures is still slow. Some unnecessary and unfeasible business conditions have not been reviewed, abolished or amended in a timely manner. Investment and business procedures in some sectors and fields are still complicated, causing difficulties for enterprises.
In addition, the mindset and awareness of a number of leaders, managers and civil servants are still heavily influenced by the “ask-give” mentality; corruption and negativity still occur. The effectiveness and efficiency of some policies to support businesses are still low, and implementation is still difficult. Policies to encourage business households to transform into enterprises are not really attractive; business households themselves are still hesitant when facing the risk of increased compliance costs after model conversion.
In addition, the capacity of the private economic sector is still limited, especially in terms of capital, governance, ability to apply science and technology, digital transformation and access to modern business models such as digital economy, green economy and circular economy.
Private economy needs "thinking blood" and eliminates "grab-and-grab business"
In the new context, when the world situation is forecast to continue to develop rapidly, complicatedly and unpredictably. Strategic competition between major countries is increasingly fierce, especially the recent trade protection and tariff policies.
The explosive development of new technologies, including artificial intelligence (AI), internet of things (IoT), biotechnology, quantum... has a strong and comprehensive impact on all areas of social life.
Deputy Minister Le Tan Can said that the new context is posing great challenges but also bringing new opportunities and chances for national development. In order to maximize the potential to develop the private economy into the most important driving force, meeting the requirements of national development in the new era, implementing the direction of the Politburo, the Secretariat and the Government, the Ministry of Finance has urgently researched and advised the Government: Submitting to the Politburo to issue Resolution No. 68-NQ/TW on private economic development, Submitting to the National Assembly to issue Resolution 198/2025/QH15 on a number of special mechanisms and policies for private economic development. Immediately after the Resolutions were issued, the Ministry of Finance promptly reported to the Government to issue Resolution No. 138/NQ-CP and Resolution No. 139/NQ-CP promulgating the Action Plan to implement the above 02 Resolutions.
In particular, Resolution 68/NQ-TW has set out 08 groups of tasks and solutions demonstrating the spirit of innovation, breakthrough, and strong reform, ensuring adherence to 03 strategic breakthroughs (in institutions, human resources, infrastructure) and in the overall 04 important Resolutions of the Politburo that the General Secretary concluded as "The Four Pillars".
To quickly put Resolution 68-NQ/TW of the Politburo and Resolution No. 198/2025/QH15 of the National Assembly into practice, Deputy Minister Le Tan Can suggested focusing on immediately implementing the following tasks:
Ministries, branches and localities urgently develop and issue a Plan to implement Resolution No. 138/NQ-CP and Resolution No. 139/NQ-CP, in which clear tasks with specific deadlines are assigned to implementing units to ensure the 6 clear principles: "Clear people, clear work, clear responsibility, clear authority, clear time, clear results".
Focus resources on implementing assigned tasks to ensure progress, efficiency and quality.
Business associations and enterprises proactively enhance their capacity and operational efficiency, promote their representative role and bridge between the business community and enterprises with state management agencies; promote their role as social critics in policy making. Propaganda and mobilize business people to implement ethical standards and business culture. Proactively propose to participate in business support programs.
Enterprises and business households must operate in accordance with the law, build ethics, business culture, honesty, integrity, and social responsibility; eliminate the "grab and run" and illegal business mindset; innovate business thinking, improve capacity, quality, and qualifications, accumulate knowledge and experience, support each other, unite, and develop together. Large enterprises must strive, pioneer, and lead small and medium enterprises. These enterprises must have the mindset to develop into medium and large enterprises.
Source: https://baophapluat.vn/kinh-te-tu-nhan-phai-chuyen-minh-phat-trien-ben-vung-post550362.html
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