The belief and aspiration of the business community with Resolution 68

Encourage entrepreneurial spirit, unleash powerful resources

Resolution 68 of the Politburo on private economic development has strongly aroused the entrepreneurial spirit of the business community, affirming the role of entrepreneurs as "soldiers on the economic front".

Affirming that the private economy is the most important driving force of the national economy, the Resolution has inspired the role of this business sector, opening the door to fast, strong and steady growth.

Sharing with Dan Tri reporter , Ms. Nguyen Thi Minh Giang - General Director of Newing Consulting Company, specializing in consulting on business restructuring, corporate culture and human resource training - said that she was very excited when Resolution 68 on private economic development was issued. The Resolution has strong instructions to focus, support and remove major bottlenecks in long-standing private economic development.

According to Ms. Giang, when society changes rapidly, businesses in the private economy also need to change quickly to adapt. However, the State's management mechanism cannot change, cannot adapt to the changes of the private economy as well as the needs of the market, thereby causing a phase difference.

"It's like a story of businesses wanting to grow quickly and change immediately. A few years ago they were doing this industry, now they're doing a new industry. If the government doesn't come up with a mechanism in time, it won't be able to support businesses well to develop," she explained.

This female CEO also believes that Resolution 68 clearly defines the goal of supporting the development of the private economy by removing barriers and creating new mechanisms that will support business development.

Responding to the spirit of Resolution 68, Mr. Pham Duc Toan - General Director of EZ Real Estate Investment and Development Joint Stock Company (EZ Property) - said that the private enterprise sector plays an important role in the national economy. At present, the Government and relevant agencies have taken many practical actions and policies to support the private economic sector. These policies are no longer slogans but have been demonstrated through clear and specific measures.

"Resolution 68 encourages business development with a policy of exempting personal income tax for small and medium-sized enterprises - these are practical actions, not slogans. In fact, businesses are currently feeling very excited and confident to take action," said Mr. Toan.

Previously, businesses were hesitant because they were worried about legal risks, causing a fear of making mistakes. But with Resolution 68, a representative of EZ Property said that it has created a new vitality, adding motivation, enthusiasm and positive energy to businesses. Therefore, businesses need to be bold in investing, daring to think and act instead of sitting around worrying and analyzing.

Even within the company, Mr. Toan said he also encouraged and required everyone to be more determined in their work. Because, currently, the country is in a period of transformation, so it is necessary to promote all capacities and strengths to make a breakthrough.

According to him, policies such as Resolution 68 along with new policies and laws are very correct and accurate, meeting the expectations of businesses. "We are on the right track in creating a favorable environment for the private economic sector to contribute more strongly to the national economy. As a business leader, I fully support the strategies and policies of the Party and State during this period," Mr. Toan emphasized.

The private economy is the most important driving force of the national economy (Illustration: Trinh Nguyen).

From the perspective of manufacturing enterprises, Mr. Pham Van Viet - Vice President of the Vietnam Association of Private Entrepreneurs and Chairman of the Board of Directors of Viet Thang Jeans Company Limited - assessed that the Party and State leaders have shown determination and far-sighted vision when emphasizing the pivotal role of the private enterprise sector.

According to Mr. Viet, Resolution 68 not only solves immediate difficulties for businesses but also lays the foundation for long-term development, promotes digital transformation, innovation, and enhances the competitiveness of businesses, especially small and medium enterprises. Because if science and technology, digital transformation... are promoted, businesses will develop very quickly.

Sharing the same view, Mr. Nguyen Viet Thang - General Director of Hoa Phat Group - said that the private economic sector has always accounted for the highest proportion in the economy. In particular, Mr. Thang emphasized the importance of removing institutional barriers and administrative procedures. He said that when bottlenecks in policy mechanisms and investment and production procedures are promptly removed, enterprises will be able to promote all their inherent resources to reach new heights and develop more strongly.

Responding to the spirit of Resolution 68, Hoa Phat Group is committed to maintaining its pioneering role in the steel industry, contributing to the sustainable development of Vietnam's economy in the integration era. In particular, Hoa Phat has determined its pioneering mission with the high-speed railway project.

Also responding to the spirit of promoting private economic development, Ms. Phung Thi Binh - Deputy General Director of Agribank - said that the bank has been allocating large credit capital to the private economic sector. According to Ms. Binh, the proportion of investment credit for the private economic sector is about 80% of Agribank's total outstanding loans, with nearly 1.4 million billion VND. Of which, enterprises in the private economic sector with a scale of over 400,000 billion VND, account for about 90% of outstanding loans to customers.

In 2024, the bank also reduced lending rates 4 times. In the first 2 months of this year, Agribank continued to reduce the short-term lending rate floor by 0.2% to 0.5%/year to promote credit growth.

For private sector enterprises, this bank has allocated a capital of VND240,000 billion, applicable to many subjects such as large corporate customers, SME enterprises, FDI customers, import-export customers, etc.

What should private enterprises do to grow?

Ms. Nguyen Thi Minh Giang believes that Resolution 68 on private economic development is actually encouraging the spirit of individual ownership in economic development. The motivation for self-employment in the private economy will be very different from the motivation for working for others.

Having had the opportunity to meet and advise many business leaders, Ms. Giang realized that the weakness of private enterprises is the lack of connection. Most businesses still operate in fragmented ways, whereas private enterprises in countries around the world are connected into communities and strongly support each other.

Addressing this issue, Ms. Giang said that Resolution 68 also emphasizes solutions to strengthen connections between private enterprises, private enterprises with State-owned enterprises and FDI enterprises. Therefore, she expects there will be specific policies so that large enterprises have ways to support smaller enterprises.

In addition, Ms. Minh Giang also strongly agrees with the contents of attention to human development and human resources stated in Resolution 68. The Resolution clearly states the implementation of a training program to train and develop 10,000 executives; mobilizing successful entrepreneurs to participate in training, sharing experiences, inspiring, and providing practical and effective support to the business community. Accordingly, training 10,000 quality executives will result in the development of many quality businesses and employees.

Private enterprises hope to expand into the ocean (Illustration: Nam Anh).

Sharing the same viewpoint, Mr. Pham Van Viet cited that in countries around the world, the private enterprise sector contributes more than 80% of the budget, but in Vietnam it contributes more than 40%. Therefore, in the long term, Vietnam needs to promote the development of domestic enterprises further. Resolution 68, which has just been issued, clearly recognizes the role of the private economy, demonstrating strong political determination in making this sector a pillar of development.

"The most important thing for the private sector is a transparent and fair legal corridor. The State also needs to have reasonable support policies for each specific industry. Reduce taxes for businesses that develop green, build good brands...", Mr. Viet said.

This person also assessed that the Party and State's policy on private economic development is very correct and appropriate in the current context. The State has many policies to encourage, support, and create an environment for businesses to confidently develop and innovate. However, the most important thing is how to organize implementation and quickly concretize it into laws.

In a joyful and exciting atmosphere, Mr. Phan Minh Thong - Chairman of the Board of Directors of Phuc Sinh Joint Stock Company - said that for the first time, leaders have an important vision and position for Vietnamese enterprises, especially the private sector. In the context of trade difficulties and protectionist trends of countries, this vision needs to be realized sooner and faster with stronger support policies and attention to the private sector, whether it is an export or domestic production enterprise.

"I think this concern must be proactive in listening to and handling all the difficulties that private enterprises are facing. Along with that, it is respecting and giving complete trust to the private enterprise sector," Mr. Thong stated.

Chairman Phuc Sinh also said that Vietnam already has a business community of more than 2.1 million enterprises and 5 million business households, and in reality it may be even larger. When the Party and the State have changed their thinking and vision about enterprises and have great expectations for the private economic sector, big decisions of equal magnitude are needed for this economic sector to overcome the storms in the foreign market and grow strong at home.

However, on the business side, Mr. Thong said that a close-knit, listening, proactive mechanism along with support policies is not a "panacea" for the Vietnamese private sector to immediately become stronger. This needs to be implemented persistently, patiently, and persistently.

He proposed that for private enterprises, especially small and medium enterprises (SMEs), a comprehensive financial support policy should be considered such as preferential credit support; considering support for corporate income tax reduction, land tax incentives to encourage factory construction... In addition, there are more specialized support policy packages such as incentives for green development and ESG practices, digital transformation incentives...

Above all, businesses need to make efforts on their own. Because the Government has paved the way with 17 Free Trade Agreements (FTAs) with over 60 countries and territories, and is negotiating 3 FTAs ​​and economic frameworks. The large market allows businesses to proactively diversify and find places that "need" them the most; be proactive in policies to be ready to respond to all situations.

Dantri.com.vn

Source: https://dantri.com.vn/kinh-doanh/niem-tin-va-khat-vong-cua-doi-ngu-doanh-nhan-voi-nghi-quyet-68-20250507080202615.htm