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| The private sector in the province contributes 45% of the GRDP and provides employment for 72% of the workforce. |
A clear shift from policy to practice.
Resolution No. 68-NQ/TW of the Politburo was issued in the context of the private economic sector being identified as one of the pillars of the national economy. In Thai Nguyen, the implementation of the resolution has been carried out synchronously from the provincial level to the grassroots, with many solutions to improve the investment and business environment and support businesses in accessing resources.
According to aggregated data from the Thai Nguyen Department of Finance, after one year of implementing Resolution No. 68-NQ/TW, nearly 1,930 new businesses were registered throughout the province, bringing the total number of businesses in the area to 15,100 by April 2026. In 2025, total state budget revenue from the private sector in Thai Nguyen is expected to reach 3,691 billion VND.
These results affirm the increasingly important role of the private sector in the local economic structure, accounting for over 45% of GRDP and providing employment for over 72% of the local workforce.
During the period 2026-2030, Thai Nguyen aims to make the private sector the main driving force, striving to contribute 18-20% of total budget revenue by 2030.
These figures demonstrate that investor confidence in the local business environment is strengthening. Not only is the number of businesses increasing, but their quality is also gradually improving, especially in the processing, manufacturing, service, and trade sectors.
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| Manufacturing electronic components at WEDM VINA Production and Trading Joint Stock Company (Gia Sang Ward). |
In addition, many policies supporting businesses have been effectively implemented, such as: implementing the "24-hour green channel" and "60% green channel" mechanisms; reforming administrative procedures to shorten processing times; promoting digital transformation in business registration; and supporting small and medium-sized enterprises in accessing credit, land, and markets. Dialogue conferences between the government and businesses are held regularly, contributing to the timely resolution of difficulties.
A notable point is the increasing involvement of private enterprises in sectors previously dominated by the state sector, such as infrastructure, public services, and high-tech agriculture. Many new production and business models, applying science and technology, have emerged, creating additional added value for the local economy.
Proactively innovate and expand production.
Not only relying on policies, private enterprises in Thai Nguyen have also undergone significant changes in mindset and approach. While previously most businesses were small, fragmented, and lacked linkages, they now focus more on long-term development strategies, brand building, and enhancing competitiveness.
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| Staff and employees of An Khanh I Thermal Power Plant (An Khanh Thermal Power Joint Stock Company) operate the central control room. |
Viet Cuong Construction Concrete Co., Ltd. is one example. From a small enterprise primarily producing ready-mix concrete, the company has gradually grown stronger, becoming a prominent enterprise in the province, participating in many fields such as building materials production, infrastructure construction, real estate, and mineral exploitation.
Mr. Doan Van Tung, General Director of Viet Cuong Construction Concrete Co., Ltd., commented: Policies to encourage private enterprises should prioritize creating opportunities for local businesses to participate, especially those with professional and financial capabilities, avoiding attracting scattered and unselective investments.
In the industrial sector, many businesses are boldly investing in technological innovation and participating more deeply in the supply chains of large corporations. In the agricultural sector, production models based on VietGAP standards, organic farming, and the application of high technology are being widely adopted, contributing to increasing product value and expanding consumer markets.
Mr. Chu Binh Khiem, Deputy Director of Dai Viet Steel Trading and Investment Joint Stock Company, shared: Thanks to the province's support policies and improved administrative procedures, businesses have the opportunity to expand production and invest in modern machinery. More importantly, they have access to trade promotion programs and market connections, thereby giving their products a more stable market position.
Meanwhile, in the trade and service sector, many businesses have successfully capitalized on opportunities arising from digital transformation, developing e-commerce, and expanding online sales channels. This is a suitable direction in the context of an increasingly competitive and rapidly changing market.
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| Production activities at Bac Ha Pharmaceutical Technology Joint Stock Company (Bac Kan ward) - a leading unit in the field of producing health supplements from herbs, applying Nano technology. |
Mr. Tran Duc Hieu, Director of Hoa Mai Trading Company Limited, affirmed: After one year of implementing Resolution No. 68-NQ/TW, many policies have proven effective for businesses, especially in accessing capital and streamlining administrative procedures.
Despite achieving many positive results, the reality shows that the private sector in the province is still facing numerous difficulties. One of the major problems is the small scale of enterprises, limited financial capacity, and low resilience to market fluctuations.
In addition, rising input costs and an unstable consumer market are making it difficult for many businesses to maintain and expand production.
Many major investors who have recently visited Thai Nguyen share the same observation: the business environment has improved, and business confidence has been strengthened. However, for the private sector to truly become the main driving force, deeper institutional reforms are needed, especially in access to land and capital.
Furthermore, the inadequate quality of the workforce is also a major limitation. Many businesses face difficulties in recruiting highly skilled workers, especially in industrial and technology sectors.
A stronger boost is needed in the coming period.
To ensure that the private sector truly becomes a key driver of growth, experts believe that Thai Nguyen needs to continue promoting institutional reforms and creating a transparent, stable, and favorable investment and business environment.
First, the province will continue to simplify administrative procedures, especially in the areas of land, construction, and investment. The application of information technology and digital transformation in state management also needs to be further promoted to reduce costs and time for businesses.
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| The iron and steel smelting plant of Thai Nguyen Black Metallurgy Joint Stock Company (Nam Hoa commune). |
Simultaneously, Thai Nguyen has developed more practical support mechanisms for small and medium-sized enterprises (SMEs), especially in accessing capital, training human resources, and transferring technology. The formation of startup support funds and credit guarantee funds will contribute to reducing risks for businesses.
Another important direction is to promote linkages between private enterprises, FDI companies, and state-owned enterprises, creating sustainable value chains. This helps businesses enhance their competitiveness while increasing value for the local economy.
In addition, the development of infrastructure, especially industrial park and logistics infrastructure, is also receiving comprehensive investment, creating favorable conditions for businesses to develop production and business activities.
Comrade Vuong Quoc Tuan, Member of the Central Committee of the Party, Deputy Secretary of the Provincial Party Committee, and Chairman of the Provincial People's Committee, once emphasized: Thai Nguyen is committed to accompanying businesses with clear and stable long-term preferential policies; focusing on supporting land clearance, developing synchronous infrastructure, and strongly reforming administrative procedures. The province considers the convenience and efficiency of investors as a measure of the quality of government administration in the new period.
After one year of implementing Resolution No. 68-NQ/TW of the Politburo, the private economic sector in the province has made positive progress, gradually affirming its important role in growth, job creation, and expanding budget revenue. This result demonstrates the correctness of the Party's policy in identifying the private economy as an important driving force of the national economy.
In the coming period, as institutional reforms continue to be promoted and bottlenecks related to land, capital, human resources, and the investment and business environment are promptly addressed, the private sector will further unleash its potential, becoming an important foundation for promoting rapid and sustainable development in Thai Nguyen.
Source: https://baothainguyen.vn/kinh-te/202605/tao-dong-luc-moi-cho-kinh-te-tu-nhan-74a140b/
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