Resolution 68-NQ/TW "gives wings" to the private economy

In the context of the country entering a new development phase, Resolution 68-NQ/TW, dated May 4, 2025, of the Politburo on private economic development (PED) has "breathed new air", affirming the key role and importance of this economic sector in the cause of national construction and defense. The Resolution is a strong commitment of the Party and State in creating a favorable and transparent environment for the PSE to truly become an important driving force of the economy.

Looking back on the development journey

In the decades of innovation, Vietnam's private economy has made remarkable progress, contributing increasingly to GDP, creating jobs and promoting innovation. From a "supplementary" position in the early days of innovation, this sector has gradually affirmed its role as one of the important driving forces of the economy . By December 31, 2024, the private economic sector had more than 940,000 enterprises, about 5.2 million individual business households, contributing about 51% of GDP, more than 30% of the State budget, creating more than 40 million jobs (accounting for more than 82% of the total number of workers in the economy). Despite facing many difficulties, the private economy has continuously maintained a good growth rate, continuing to be the core force in creating material wealth, making important contributions to economic growth, creating jobs for workers, and contributing to social stability.

In the general picture of the whole country, An Giang province soon realized the importance of private enterprises and took specific actions to develop this area. With the determination to improve the investment and business environment and enhance competitiveness, the Provincial Party Committee, the Provincial People's Committee and provincial departments, branches and sectors always accompany and create favorable conditions for enterprises to develop. Efforts in promoting administrative reform and improving the business environment have brought about encouraging initial results. In the period of 2021 - 2025, An Giang recorded 4,376 newly registered enterprises, with a total registered capital of 42,479 billion VND. Compared to the period of 2016 - 2020, the number of newly registered enterprises increased by 18.49% and the registered capital increased by 74.43%. These figures show a positive change in the investment environment and investors' confidence in An Giang.

Solid "pillar"

Besides the achievements, private enterprises, especially small and medium enterprises, still face many barriers such as difficulties in accessing capital, administrative procedures and competition. “The Politburo ’s Resolution 68-NQ/TW was issued, demonstrating a major step forward in the theoretical thinking and practical guidance of our Party: “In a socialist-oriented market economy, the private economy is the most important driving force of the national economy” and we are building a “socialist-oriented market economy, managed by the State, under the leadership of the Party”. This viewpoint marks a profound change in strategic awareness of the role of the private sector: From a secondary position to a pillar of development, alongside the State economy and the collective economy, forming a solid “tripod” for an independent, autonomous and successfully integrated economy. Developing the private economy is not only an economic requirement, but also a political imperative, aiming to consolidate the foundation of national economic autonomy, enhance competitiveness and adaptability in a volatile world” – General Secretary To Lam affirmed.

In that spirit, the resolution sets out strong reform requirements, including: Perfecting institutions: Protecting property rights, freedom of business, creating a fair, transparent and stable investment and business environment. Unleashing resources: Expanding access to land, credit, markets and technology for the private sector; thoroughly removing institutional and policy bottlenecks. Promoting innovation: Strongly developing the creative startup ecosystem; supporting private enterprises to invest in research and development, deeply participating in the global innovation network and value chain. Building a team of modern entrepreneurs who are not only good at business, but also have political mettle, intelligence, professional ethics, national spirit and aspiration to contribute to the country and reach the world. “Resolution 68 lays the foundation for a comprehensive transformation in the policy of developing the private economy, from “recognition” to “protection, encouragement, promotion”, from “support” to “leading development”. This is the right and urgent strategic choice with a long-term vision, aiming to realize the aspiration of developing a strong country in the middle of the 21st century” – General Secretary To Lam emphasized.

An Giang determined to act

In An Giang, the private economic sector has not only increased in number and registered capital but also contributed increasingly to the GRDP and promoted the economic growth of the province. The State budget revenue from production and business of the private economic sector has also shown stable growth over the years. "The province sets a goal of striving to increase the contribution of the private economic sector to the total product structure in the province to 85% by 2025 and 95% by 2030. This is a goal that demonstrates the province's strong determination in promoting the key role of the private economic sector" - Vice Chairman of the An Giang Provincial People's Committee Le Van Phuoc informed.

In the context of Resolution 68-NQ/TW being issued, An Giang's previous efforts in improving the business investment environment have more motivation and "launching pad". The Resolution creates a legal framework and common orientation for the whole country, in which the experiences and results achieved by An Giang will be a solid foundation for the province to continue to make breakthroughs. The solutions proposed in Resolution 68-NQ/TW, such as: Reducing compliance costs, improving access to resources, protecting property rights and encouraging innovation... are in line with what An Giang is aiming for. The synchronous implementation of the resolution nationwide will create a spillover effect, helping An Giang attract more investment, expand the market and improve the competitiveness of private enterprises in the area.

With great determination, An Giang is implementing a series of synchronous and drastic measures to put Resolution 68-NQ/TW into practice. From reviewing and cutting administrative procedures, enhancing dialogue with businesses, to creating favorable conditions for capital access and investment promotion, An Giang is committed to building a truly open and transparent business environment, creating a strong driving force for the private economy in the province to develop rapidly and sustainably, contributing to the common prosperity of the country.

THU THAO

Source: https://baoangiang.com.vn/nghi-quyet-68-nq-tw-chap-canh-cho-kinh-te-tu-nhan-a421654.html