Resolution No. 68-NQ/TW of the Politburo will help the private economy "take off"

STO - In order to realize the national development goals as set out in the Resolution of the 13th National Party Congress and meet the development requirements in the new era of Vietnam, on May 4, 2025, General Secretary To Lam signed and issued Resolution No. 68-NQ/TW on private economic development (referred to as Resolution No. 68). Resolution No. 68 has many new breakthroughs, removing many barriers to truly "untie" the private economy to "take off", accompanying the country in the era of national development.

According to the business community of Soc Trang province, Resolution No. 68 affirms the driving role of the private economy and frankly points out the reasons for the restraint of private economic development, especially the different guiding viewpoints. Specifically, the resolution affirms that in the socialist-oriented market economy, the private economy is the most important driving force of the national economy, the pioneering force promoting growth, creating jobs, improving labor productivity, national competitiveness, industrialization, modernization, restructuring the economy towards green, circular, sustainable; Along with the state economy and collective economy, the private economy plays a pivotal role in building an independent, autonomous, self-reliant, and self-reliant economy associated with deep, substantive, and effective international integration, helping the country escape the risk of falling behind and rise to prosperous development... In addition, Resolution No. 68 also sets out specific and detailed goals, tasks, and solutions for resource support, such as developing the credit market, diversifying forms of guarantees, and encouraging linkages between private enterprises and state-owned enterprises and FDI enterprises. In particular, increasing opportunities for access to land, production and business premises for the private economy... to help the private economy "take off" in the new era.

Resolution No. 68 affirms that in a socialist-oriented market economy, the private economy is the most important driving force of the national economy, the pioneering force promoting growth, creating jobs, improving labor productivity... Illustration photo: HOANG LAN

Dr. Tran Khac Tam - Chairman of the Soc Trang Provincial Business Association said that Resolution No. 68 will create a turning point in institutional reform with a qualitative change, helping to enhance the role of private enterprises for sustainable development if implemented properly and fully. It will create great motivation for private enterprises to develop. Because this resolution clearly states the need to innovate thinking and have breakthrough solutions to further promote the role of the private economy. A new and very important point of Resolution No. 68 is that the Party and the State have established the key role of the private economy. Specifically, for the first time, the private economy is identified as "the most important driving force" of the national economy, instead of just "one of the driving forces" as before. This is a historic change in the Party's thinking and economic development orientation. "The Government has submitted a document to the National Assembly to concretize the Party's policy with special mechanisms and policies to develop the private economy," Mr. Tran Khac Tam informed.

In recent times, the leaders of the Provincial Party Committee and the People's Committee of Soc Trang province have always paid attention to creating conditions for businesses to develop, and the promulgation of Resolution No. 68 of the Politburo will continue to help the private economy "take off". Photo: HOANG LAN

The Chairman of the Soc Trang Provincial Business Association affirmed that Resolution No. 68 is the driving force and "compass" for the development path of private enterprises nationwide in the coming time, including enterprises in Soc Trang province. According to Mr. Tran Khac Tam, this is a time of many difficulties and challenges for enterprises in the province. Because the world economy has not fully recovered and is facing a "trade war" of tariffs. Although in April, some industries such as rice increased; services, trade, retail, construction, real estate increased slightly but still not commensurate with expectations. Hopefully, Resolution No. 68 will create a "boost" for the private economy, especially after some special mechanisms and policies for private economic development are approved by the National Assembly and put into practice, which will help the domestic and Soc Trang business community access more diverse resources and enjoy more incentives in capital mobilization. In addition, the issue of digital transformation and green transformation in Soc Trang enterprises has been implemented and has had positive results but is still not comprehensive. Therefore, this is an opportunity for enterprises to digitally transform, apply science and technology in a deeper, broader and more professional way. Another opportunity is that private enterprises will be able to participate in large projects in an equal and fair manner, enterprises that dare to think big and do big in the coming time need to grasp it.

Currently, Soc Trang province has about 4,000 enterprises, most of which are small and micro enterprises. In order for enterprises to directly benefit from the mechanisms and policies of the Party and the State, according to Mr. Tran Khac Tam, the implementing agencies need to reform the institutions and business environment. It is necessary to simplify administrative procedures, make legal regulations transparent to reduce compliance costs for enterprises and this needs to be done immediately. The Party, the State and agencies need to support the private economic sector in accessing capital and resources. It is necessary to expand preferential credit packages for small and medium enterprises, and at the same time develop credit guarantee funds. Strengthen the connection between enterprises and training institutions to meet human resource needs. Establish or strengthen organizations to support enterprises such as investment promotion centers. Have solutions to support enterprises in the private economic sector to improve their internal capacity. Help them identify the main goal of investing in governance, long-term strategy and corporate culture. For small, micro and household businesses, there will be practical and effective support policies... If done well, Resolution No. 68 will certainly come into life, maximize its effectiveness in practice, and help the private economy grow strongly.

HOANG LAN

Source: https://baosoctrang.org.vn/kinh-te/202505/nghi-quyet-so-68-nqtw-cua-bo-chinh-tri-se-giup-kinh-te-tu-nhan-cat-canh-5ff28e2/