Resolution 68: Maximizing advantages to develop the private economic sector.

Nearly a year after the implementation of Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo on the development of the private economy, strong shifts in management thinking and the flexible adaptation of the private economic sector have created new impetus for the economy.

Production line for electronic devices and lighting equipment in cars and motorcycles at Stanley Electric Vietnam Co., Ltd. (a Japanese-invested company) in Hanoi . Photo: Danh Lam/TTXVN

Many experts and businesses believe that the initial impact of the Resolution is evident in the significant increase in the number of businesses and households entering and re-entering the market, the flourishing of import and export activities, and the increasingly larger contribution of the private sector to state budget revenue. Many businesses have made significant progress by maximizing the advantages gained from this Resolution.

Evaluating the one-year implementation of Resolution 68/NQ-CP, Mr. Le Nho Thanh, Head of the Communications Department of the Institute of International Economics and Law (Vietnam Union of Science and Technology Associations), stated that Resolution 68-NQ/TW is both a political message and an institutional impetus, creating a breakthrough in development thinking that recognizes the leading role of the private economy. The resolution has created a significant turning point, helping business owners overcome their hesitant and cautious mindset and readily invest capital for the long term.

The most significant improvement is the shift in management approach: Instead of cumbersome inspections and licensing procedures from the outset, the government facilitates business operations first, and then checks compliance with regulations later through digital technology. This is the key to empowering private businesses to confidently contribute their capital and expertise, truly becoming the main driving force propelling the country into a new era.

Despite contributing approximately 50% of GDP and over 30% of total state budget revenue, the private sector still faces challenges and obstacles hindering its development. Mr. Le Nho Thanh analyzed that, while the central government has been decisive in recent times, some agencies and localities still exhibit a "top-down" approach. The implementation capacity of some officials remains limited, leading to delays in policy implementation. In reality, prejudices against the private sector still persist in some areas, making it difficult for businesses to access resources.

According to Mr. Le Nho Thanh, the Institute has directly provided substantial support to the business community in recent times, such as: advising on greenhouse gas inventories to help small and medium-sized enterprises (SMEs) adapt to international standards; and applying Blockchain and AI to supply chain management to unlock green capital. In particular, the Institute's rapid response task force model has effectively addressed many tax and legal issues from the outset, protecting the legitimate rights of the business community.

Mr. Le Nho Thanh further stated that in the coming period, the Institute will focus on two key plans: building a digital ecosystem and a Legal and Business Information Portal to respond to difficulties in real time, and organizing a quarterly forum to connect information supply and demand, ensuring that policies always closely follow market developments.

On the private sector side, Mr. Nguyen Van Luu, Chairman of the Board of Members of Nam Hai Phat Investment and Import-Export Co., Ltd., said that, taking advantage of the opportunities from the policies in the Resolution, Nam Hai Phat Company has proactively built a systematic technological ecosystem such as: applying tissue culture to create genetically standardized, high-yield varieties, reducing initial investment costs. The entire cultivation process is updated through an electronic logbook, allowing for real-time traceability and accurate real-time location of orchards and raw material areas - this is the "key" to overcoming the technical barriers of the most demanding markets. In addition, the company utilizes agricultural by-products to regenerate energy and produce organic fertilizer, minimizing carbon and methane emissions, aiming for Net Zero and meeting the Carbon Border Adjustment Mechanism (CBAM) of the European market and other demanding markets…

"The combination of high technology and sustainable thinking is how we maximize the advantages of Resolution 68 to bring Vietnamese agricultural products to the world stage," Mr. Nguyen Van Luu shared.

Source: https://baotintuc.vn/kinh-te/nghi-quyet-68-tan-dung-toi-da-loi-the-de-phat-trien-khu-vuc-kinh-te-tu-nhan-20260219101428717.htm