Resolution 68-NQ/TW:

Within the framework of the thematic discussion organized by the President Club, business leaders, economic experts, lawyers and policy makers discussed the spirit and practical requirements in implementing Resolution No. 68-NQ/TW of the Politburo on private economic development.

Private economy, from "component" to "most important driving force"

Mr. Nguyen Trung Chinh, Chairman of the Board of Directors/Executive Chairman of CMC Technology Group, affirmed: “ Resolution 68-NQ/TW is a breakthrough in ideology, when for the first time the private economic sector is established as the most important driving force. If implemented in the right direction, most of the bottlenecks will be removed .”

Dr. Vo Tri Thanh, Director of the Institute for Brand Strategy and Competition Research.

According to Dr. Vo Tri Thanh, Director of the Institute for Brand and Competitiveness Strategy (BCSI), this is a major shift from the concept of considering the private economy as "a part" to a central position in the development strategy.

Mr. Nguyen Trung Chinh, Chairman of the Board of Directors/Executive Chairman of CMC shared at the event.

Many entrepreneurs at the seminar shared their practical difficulties. Mr. Nguyen Hoa Binh, Chairman of NextTech, said: “Since 2008, leaders have been open to licensing e-wallet testing. But by 2015, the strict thinking made the sandbox take 8 years to issue. When it was issued, the regulation required the general director to have experience working in the banking industry, eliminating those with innovative thinking outside the industry.”

Mr. Nguyen Trong Phi, Chairman of Giovanni Group, reflected on the case of applying for investment license lasting 4 years just because the project is not located in an industrial park, and had to get 17 signatures from the Provincial People's Committee to be allocated land. "These procedures not only cause delays but also put businesses at risk of having their projects 'suspended' indefinitely," he said.

Mr. Dao Xuan Dung, Chairman of UHY Auditing and Consulting Company, emphasized: “The regulation prohibiting business leaders from leaving the country because of late tax payment of only a few tens of millions of VND, not only causes difficulties and troubles but can sometimes cause the company's stock price to collapse.” He also warned about the situation of thousands of billions of VND being wasted because projects cannot be transferred due to legal barriers.

Lawyer Bui Van Thanh added: “It took a business a whole year just to get permission to print packaging because it was classified as ‘publishing activities’. These things not only cause difficulties but also show the obsolescence of the legal system."

Ms. Nguyen Ngoc Ha, National Financial Supervisory Commission, warned that commercial banks today not only lend but also own securities companies, operating as brokers, consultants, pricers and traders - this creates closed chains that can manipulate the market.

Capital is “circling” around privileged groups, creating capital-grabbing businesses, while private businesses cannot access resources.

brother-4(1).jpg — Many positive movements in implementing Resolution 68-NQ/TW.

A new spirit is forming

The discussion shows a positive movement, the private sector no longer waits for policies to be issued from above, but has proactively contributed, proposed and accompanied the State in each step of implementation.

CMC, MISA, 1Office, Giovanni... not only raised issues but also proposed specific mechanisms, action plans and implementation commitments. Dr. Vo Tri Thanh recommended that businesses strengthen cost-benefit analysis and policy impact assessment to provide more effective feedback.

Lawyer Bui Van Thanh proposed developing a transparent national information portal on investment opportunities. Mr. Dang Huy Dong, former Deputy Minister of Planning and Investment, emphasized: “Sandboxes need to be controlled by space - time - risk, but should not constrain creativity with conservative conditions”.

Mr. Le Viet Thang, General Director of 1Office, proposed that the Government should allocate budget to buy Vietnamese software to provide free of charge to new businesses under 3 years old.

“We need to learn how to make laws from developed countries – clear and applicable immediately,” added Mr. Nguyen Xuan Hoang, Vice President of MISA.

Resolution 68-NQ/TW, with its breakthrough spirit, has opened up a new policy space. However, the journey from policy to reality cannot be the sole responsibility of the State. It is a parallel process in which businesses, experts and the whole society must move forward together.

Source: https://hanoimoi.vn/nghi-quyet-68-nq-tw-cu-hich-the-che-va-vai-tro-trung-tam-cua-doanh-nghiep-tu-nhan-701900.html