The development of the private sector is a measure of the government's capacity.

Developing the private economy is a necessity stemming from practical realities, a long-term strategic requirement, and a measure of the state apparatus's administrative capacity.

Resolution 68 aims to attract private corporations to invest in strategic infrastructure projects. (In the photo: Phu Quoc airport, being expanded by a private enterprise - Photo: CHI CONG)

This assessment was made by Deputy Minister of Finance Nguyen Duc Tam in an interview with Tuoi Tre newspaper regarding the results of one year of implementing Resolution 68 of the Politburo on the development of the private economy.

Private sector confidence is rising.

* Sir, after one year of implementing Resolution 68 of the Politburo on the development of the private economy, what are the measurable results?

- The private sector has been identified as the most important driving force of the economy . Based on this, the perception of this sector by both the political system and society as a whole has undergone a very clear transformation.

In practice, after one year of implementing Resolution 68 of the Politburo, the private economic sector has undergone significant changes.

The resolution has had a positive effect, strongly spreading the spirit of entrepreneurship and business. Immediately after Resolution No. 68 was issued and institutionalized through the Government's action program, the enthusiasm for starting businesses spread strongly, clearly demonstrated by the significant increase in the number of newly registered and reactivated businesses and household businesses compared to before.

From May 2025 to the end of 2025, approximately 18,000 new businesses are established each month, and the number of businesses resuming operations is expected to exceed 8,300 per month.

Overall in 2025, the total registered capital added to the economy by the private sector is estimated to reach nearly 6.4 million billion VND, an increase of 77.8% compared to the same period of the previous year.

In the first four months of 2026, this trend continued. Nearly 75,000 new businesses were established nationwide, with a total registered capital of over 730,000 billion VND and creating nearly 400,000 jobs.

In addition, more than 48,000 businesses resumed operations, bringing the total number of businesses entering and re-entering the market to nearly 123,000, an increase of 36.7%.

These results show that Resolution No. 68 has strengthened confidence, unleashed business momentum, and promoted the development of the private sector.

Furthermore, coupled with the economic recovery and increased confidence in the private sector, and the successful preparation of the upgrade roadmap, the Vietnamese stock market has seen a resurgence following the issuance of Resolution No. 68. By the end of April 2026, the total market capitalization reached approximately 10.5 trillion VND, the highest ever, equivalent to about 82% of the country's GDP in 2025.

The recovery and growth of production and business in the private sector have had a positive impact on budget revenue. In the first four months of 2026, total budget revenue is estimated at over 1.1 trillion VND, an increase of 15.2% compared to the same period last year.

The implementation of Resolution No. 68 has also created a ripple effect in mobilizing social resources and attracting large private corporations to invest in strategic and nationally important infrastructure projects. The resolution contributes to reshaping the development structure of the private sector, increasing its role in achieving the country's rapid and sustainable development goals in the medium and long term.

Abolishing thousands of business procedures and conditions.

Resolution 68 focuses on institutional reform, reducing administrative procedures, and shifting from "pre-approval" to "post-approval." So, what are the results after one year?

- Starting in early April, the Government issued 11 resolutions on reducing (abolishing), decentralizing, and simplifying administrative procedures and business conditions in important areas such as justice, investment, and environment.

At the same time, the Prime Minister issued 15 decisions approving plans to reduce administrative procedures and business conditions under the management of 14 ministries, which are expected to abolish 606 administrative procedures and simplify 2,479 administrative procedures.

Furthermore, a major reform in the Investment Law recently passed by the National Assembly is the review and significant reduction of the list of conditional investment and business sectors. Accordingly, the National Assembly cut 38 sectors and adjusted the scope of 20 sectors, in line with the spirit of Resolution 68.

The Investment Law also adds provisions to clarify the principles for determining investment and business conditions, thereby filtering and differentiating industries and professions that truly require "pre-approval" and shifting those that can be controlled by technical standards and regulations issued by competent authorities to a "post-approval" mechanism.

Furthermore, in mid-May, the Government issued three specific resolutions on decentralization, reduction, and simplification of administrative procedures and business conditions for 11 sectors and industries, as well as conditional investment and business sectors. This provides a solid legal basis for further efforts to reduce and simplify administrative procedures and business conditions in the future.

Source: Ministry of Finance - Data: Bao Ngoc - Graphics: N.KH.

Supporting businesses in accessing land.

* Enhancing access to land and premises for the private economic zone is also a requirement set forth in Resolution 68. How has this been concretized?

- Access to land and premises for production and business is one of the major and long-standing bottlenecks for the private sector, especially small and medium-sized enterprises.

By the end of 2025, the whole country will have 324 operational industrial parks with approximately 68,000 hectares of industrial land, 153 parks under construction, and an estimated additional 32,600 hectares of industrial land in the coming period.

The occupancy rate in operational industrial parks is approximately 78.8%. It is true that small and medium-sized enterprises (SMEs) often face more disadvantages in competing for land and factory space compared to larger enterprises.

Resolution 68 identified the need to facilitate the private sector's access to resources such as land, capital, and high-quality human resources. Specifically, it called for accelerating digital transformation to facilitate the private sector's access to land and production and business premises, while also establishing appropriate mechanisms and policies to control land price fluctuations, especially for non-agricultural production and business land.

In the coming period, the focus should be on making policies supporting private enterprises' access to land and production facilities more substantive, shifting from a general support approach to a more specific one.

Local authorities need to quickly allocate land for small and medium-sized enterprises (SMEs) in accordance with Resolution 198 of 2025 of the National Assembly, while simultaneously developing operational mechanisms and assigning responsible entities.

Regarding the Ministry of Finance, during the drafting process of the revised Law on Supporting Small and Medium-Sized Enterprises, which is expected to be submitted to the National Assembly at its second session in October 2026, further research will be conducted to more clearly define the responsibilities of local authorities, the mechanism for publicizing land funds, the methods of support, and the priority target groups.

* After one year of implementing Resolution 68, what do you think are the things that need to be done more decisively?

Businesses perceive change not only through supportive messages, but also through more streamlined procedures, lower compliance costs, better access to resources, and greater proactiveness from government agencies. Therefore, strong focus should be placed on policy implementation and effectiveness measurement based on the experiences of businesses and households.

I believe the overarching, consistent, and unchanging message in the development of the private sector is to put businesses at the center - to use efficiency as the benchmark - and to use actual results as the final evaluation.

1,062,000

This is the total number of businesses nationwide, cumulatively up to May 18, 2026. Of these, 297,500 businesses were newly established or resumed operations in 2025, and 233,400 businesses were newly established or resumed operations in 2024.

Reducing dozens of conditional business sectors and professions.

From July 1, 2026, the number of conditional investment and business sectors will be reduced from 198 to 142, including: securities trading, insurance, gold, petroleum, air transport, real estate, telecommunications services, medical examination and treatment services, higher education, primary and preschool education, telecommunications and social network services, legal practice, notarization and forensic examination...

BAO NGOC

Source: https://tuoitre.vn/phat-trien-kinh-te-tu-nhan-la-thuoc-do-nang-luc-bo-may-20260531224723854.htm