Creating breakthroughs for the private economy

Affirming the important role of the private economy, Resolution 68 clearly stated: After nearly 40 years of renovation, the private economy in our country has gradually developed in both quantity and quality, becoming one of the important driving forces of the socialist-oriented market economy. The private economic sector is an important force promoting innovation, improving labor productivity, increasing national competitiveness, contributing to hunger eradication, poverty reduction, and stabilizing social life.

However, the development of the private economy has been hindered in recent times due to many reasons, including mindset, awareness; institutions, laws; property rights and freedom of business have not been fully guaranteed. The private economy still faces many difficulties and obstacles in accessing resources, especially capital, technology, land, resources and high-quality human resources. Some preferential and support policies are not really effective and difficult to access; business costs are still high.

Provincial Party Secretary Nguyen Dinh Trung and his delegation visited production activities at ASEAN Steel Joint Stock Company.

Demonstrating the difference in guiding viewpoints, Resolution 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, national competitiveness, industrialization, modernization, and restructuring the economy towards green, circular, and sustainable development; together with the state economy and collective economy, the private economy plays a core role in building an independent, autonomous, self-reliant, and self-reliant economy associated with deep, substantial, and effective international integration, helping the country escape the risk of falling behind and rise to prosperous development.

Resolution 68 also demonstrates the policy of fully ensuring property ownership rights, freedom of business, equal competition rights, freedom to do business in sectors not prohibited by law; creating and strengthening trust between the State and the private economic sector; protecting the legitimate rights and interests of enterprises and entrepreneurs; ensuring that the private economic sector competes equally with other economic sectors in accessing business opportunities and economic resources, especially capital, land, technology, human resources, data and other legitimate resources of the country in accordance with the law.

Production activities at ASEAN Steel Joint Stock Company.

Resolution 68 affirms the consistent awareness of Party committees, authorities, the entire political system, the business community and the people about the position and role of the private economy; strengthens the belief, aspiration to rise and strong action of the Vietnamese private economy in the new era. The State creates, serves and supports the private economy to develop rapidly and sustainably, does not intervene administratively in production and business activities contrary to market principles; builds an open, friendly, companionate, honest relationship between the government and enterprises to serve and create development.

"The issuance of Resolution No. 68-NQ/TW of the Politburo on developing the private economy is very timely in the new context, contributing to promoting growth to reach 8% this year" - Prime Minister .

The key difference of Resolution 68 lies not only in the change in perception of the role of private enterprises, but also in the setting of very specific goals, accompanied by very high political determination, completely consistent with the requirements of the tasks in the period when the country enters a new era - the era of national development. Resolution 68 sets out quantified goals and has specific milestones.

Accordingly, by 2030, the private sector will be the most important driving force of the national economy; a pioneer in the development of science and technology, innovation and digital transformation. Striving to have 2 million enterprises operating in the economy, 20 enterprises operating/1,000 people; having at least 20 large enterprises participating in the global value chain.

The average growth rate of the private economy is about 10 - 12%/year, higher than the growth rate of the economy; contributing about 55 - 58% of GDP, about 35 - 40% of total state budget revenue, creating jobs for about 84 - 85% of the total workforce; labor productivity increases on average about 8.5 - 9.5%/year. The level, capacity of technology, innovation, and digital transformation are among the top 3 countries in ASEAN and the top 5 countries in Asia.

By 2045, Vietnam's private economy will develop rapidly, strongly, sustainably, proactively participate in the global production and supply chain; contributing over 60% of GDP.

Workers work at the factory of Luc Thiem Dak Lak Garment Company Limited (Tan An Industrial Park, Buon Ma Thuot City).

The private economic zone currently has about 940,000 enterprises and more than 5 million business households in operation, contributing about 50% of GDP, more than 30% of total state budget revenue and employing about 82% of the total labor force in economic growth, job creation...

Resolution 68 also sets out 8 groups of tasks and solutions including: renewing thinking, reaching high consensus on awareness and action, arousing national belief and aspirations, creating new impetus and new momentum for the development of the private economy; promoting reform, perfecting and improving the quality of institutions and policies, ensuring and effectively protecting ownership rights, property rights, freedom of business, and equal competition rights of the private economy and ensuring the enforcement of contracts of the private economy; facilitating the private economy's access to resources on land, capital, and high-quality human resources; promoting science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy; strengthening connections between private enterprises, large and medium enterprises, regional and global private economic groups; providing substantial and effective support for small, micro-enterprises and business households; Promote business ethics, promote social responsibility, strongly promote the entrepreneurial spirit, create all favorable conditions for businessmen to participate in national governance.

The most distinctive point in the group of solutions of Resolution 68 is to comply with the principle of clearly distinguishing criminal, administrative and civil responsibilities; between legal entities and individuals in handling violations. Resolution 68 also has a separate group of solutions on facilitating private enterprises to access resources of land, capital and high-quality human resources. Another new point of Resolution 68 is the group of solutions to strengthen the connection between private enterprises, private enterprises with state-owned enterprises and enterprises with foreign investment capital (FDI). At the same time, this resolution clearly defines the tasks for each enterprise according to its scale.

Kha Le

Source: https://baodaklak.vn/kinh-te/202505/tao-dot-pha-cho-kinh-te-tu-nhan-df517fc/