Boldly assign responsibility to the private economy

BPO - Resolution 68-NQ/TW dated May 4, 2025 of the Politburo on private economic development is not only a new policy turning point that unties thinking and removes barriers, but also proactively assigns greater responsibilities to this sector. This is the opinion given by experts at the 2nd session of the Vietnam Economic Forum 2025 with the theme "Private economy: Removing barriers - Assigning responsibilities", organized by Nguoi Lao Dong Newspaper on June 5 in Ho Chi Minh City.

Associate Professor Dr. Tran Dinh Thien, member of the Prime Minister's Policy Advisory Council, commented that the private sector is gradually asserting its position, being entrusted with an unprecedented mission with the issuance of Resolution 68 by the Politburo . The key point is to change the mindset and ideological arguments. The mindset of "if you can't manage it, then ban it" needs to end.

“Previously, policies were not really market-oriented or supportive of the private sector. Now, it is necessary to develop all types of markets synchronously: resource markets, land markets, financial markets, etc. Economic and legal institutional reforms also need to be promoted. It is necessary to end the bottom-up “request-give” mindset, which poses risks to businesses and enforcement agencies at all levels. Reform thinking must be top-down, clear and decisive. Once the thinking is unified, implementation only needs to be synchronous and consistent,” said Associate Professor, Dr. Tran Dinh Thien.

Dr. Tran Du Lich , former Director of Ho Chi Minh City Institute of Economics, speaking at the forum - Photo: Duy Phu

A highlight of this period, according to experts, is not only Resolution 68, but the private economic sector is also being supported, placed in the overall important resolutions of the Politburo known as the "four pillars". Specifically, Resolution 68 on private economic development; Resolution 57 on breakthroughs in science, technology, innovation and national digital transformation; Resolution 59 on international integration in the new situation and Resolution 66 on innovation in law making and enforcement to meet the requirements of national development in the new era.

Dr. Tran Du Lich, former Director of the Ho Chi Minh City Institute of Economics, analyzed: The “Four Pillars” create a consistent strategic whole - an important turning point in national policy-making thinking, opening up opportunities for the country to break through in the new era. Vietnam is facing a great opportunity to accelerate and develop strongly. However, to successfully implement it, the prerequisite is to carry out a revolution in the arrangement and reform of the state apparatus.

Reorganizing the apparatus in a streamlined, effective and efficient manner is the foundation for realizing the strategic vision set forth by the “four pillars”. When implemented synchronously and effectively, these resolutions will contribute to building a truly creative and developing state.

Mr. Nguyen Tu Quang, General Director of BKAV Group, speaking at the forum

In particular, the motto "Assigning responsibilities - Removing barriers" needs to be implemented with the spirit of fundamental innovation, helping the Vietnamese economy rise to par with the world. According to experts, assigning responsibilities is very necessary. Before assigning tasks, it is necessary to carefully evaluate the financial capacity and implementation 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.

“There needs to be a strict monitoring mechanism during project implementation. Assigning responsibility to the private sector does not mean giving it away; there must still be strict monitoring responsibilities, especially during project implementation. Throughout the implementation process, state management agencies must be responsible for accompanying, supporting and helping businesses overcome difficulties. If we do well in the above factors, we need to boldly assign responsibilities to private businesses, and at the same time, state agencies must be a solid support for them to carry out their work,” Dr. Tran Du Lich emphasized.

Source: https://baobinhphuoc.com.vn/news/4/173676/manh-dan-giao-trong-trach-cho-kinh-te-tu-nhan