Creating a foundation for sustainable private economic development

Implementing Resolution No. 68 of the Politburo on private economic development, Lao Cai has issued many specific policies, identifying the goal of developing the private economic sector by 2030, with a vision to 2045.

Implementing Resolution No. 68 of the Politburo on private economic development, Lao Cai has issued many specific policies, defining the goal of developing the private economic sector until 2030, with a vision to 2045. The province has established a Steering Committee to implement Resolution 68, assigning specific tasks and clear responsibilities to each department, branch and locality; at the same time, reviewing and reducing the processing time of nearly 1,000 administrative procedures, helping to save tens of billions of VND in costs for businesses and people.

At the "Accompanying - Connecting - Developing" Business and Investor Meeting Forum recently organized by Lao Cai province, Deputy Secretary of the Provincial Party Committee - Chairman of the Provincial People's Committee Tran Huy Tuan affirmed: Lao Cai is committed to always accompanying and providing maximum support to businesses and investors, considering the development of businesses as a measure of the province's development.

Lao Cai Provincial People's Committee organized a forum to meet businesses and investors "Accompanying - Connecting - Developing".

This is an opportunity for the business community to grasp, cooperate and invest with the locality, contributing to creating new momentum, promoting sustainable development and common prosperity. The Chairman of the Provincial People's Committee requested departments, branches and sectors to proactively propagate and provide information on new policies, potentials and development orientations of the province so that businesses can easily access, cooperate and invest. At the same time, he hoped that the business community and investors would grasp and comply with legal regulations, take advantage of opportunities from support mechanisms and policies of the Central Government and of the new Lao Cai province to accompany the development.

Lao Cai province continues to improve institutions, policies and the investment and business environment towards transparency and convenience; build an honest and serving government, shorten time, assign specific responsibilities, support businesses in accessing land, applying technology, and clearing land. Focus on synchronous development of socio -economic infrastructure, especially strategic transport infrastructure, industrial park and cluster infrastructure, logistics, energy and urban infrastructure. Prioritize regional connectivity projects, border gate connectivity, creating a foundation for attracting investment and expanding development space.

Along with that, support small and medium enterprises to access land and production premises, reduce input costs, strongly develop digital infrastructure and digital transformation in enterprises, promote e-commerce, apply digital technology in management, production and services. Focus on removing difficulties and obstacles for production and business activities in all fields, especially speeding up the implementation of large and key projects, creating leverage to promote development, with high spillover, contributing positively to the overall development of the province and the region.

The province continues to strengthen dialogue on investment policies and mechanisms, and meet with businesses in each field and industry at conferences and seminars to listen to opinions and resolve the legitimate rights and aspirations of businesses.

Lao Cai province currently has over 12,000 registered businesses, contributing 65% of total local budget revenue.

The spirit of Resolution 68 has been strongly spread, businesses and entrepreneurs of Lao Cai province are determined to accompany the province to realize the goal of developing the private economy.

Ms. Nguyen Thi Minh Hien - President of Lao Cai Province Young Entrepreneurs Association, Director of Minh Duc General Construction Company Limited shared: To realize the goals of Resolution 68, I propose that the province needs to have specific solutions to support and remove difficulties for businesses.

Specifically, support access to financial resources for small, micro and innovative start-up enterprises because these enterprises have difficulty accessing capital; strengthen periodic dialogue between provincial leaders and enterprises; remove difficulties in site clearance and speed up progress of key projects.

According to Ms. Hien, Lao Cai Province Young Entrepreneurs Association, the young business community currently has nearly 150 members, operating in diverse fields, dynamic, creative, and quick in applying digital technology, artificial intelligence, and e-commerce. This is a pioneering force of entrepreneurs, contributing to job creation, stabilizing workers' lives, promoting green growth and implementing social security well.

After the merger, Lao Cai province currently has over 12,000 registered businesses, contributing over 65% of the total local budget revenue. On average, in the period of 2021 - 2025: The private sector economic growth rate reaches 8.2%/year. The private economy accounts for 61.5% of the province's GRDP.

With a new orientation, along with the spirit of companionship and maximum support for businesses, Lao Cai is opening a period of dynamic and breakthrough development more than ever.

Leaders of Lao Cai Provincial Department of Finance visited and encouraged businesses to participate in the 2025 Autumn Fair in Hanoi.

According to Mr. Hoang Van Loi - Head of Enterprise Department, Lao Cai Province Department of Finance, the implementation of Resolution 68 is not the beginning of attention to the private economic sector, but a systematic continuation of the process of the province persistently accompanying businesses over the past many years. One of the important contents that the province is implementing is reviewing all mechanisms and policies. of the two provinces of Lao Cai and Yen Bai (before the merger), on that basis build and adjust to suit the actual situation.

The Department of Finance will advise the Provincial People's Committee to issue new mechanisms and policies for the 2026 - 2030 period, inheriting the advantages of the old policy, while overcoming shortcomings, creating more favorable conditions for private economic development.

Lao Cai province aims to build flexible and open mechanisms to help businesses, cooperatives and private business households easily access and benefit from policies. Administrative procedures will be simplified and digitized to reduce costs, shorten processing time, and demonstrate the spirit of service and companionship with businesses.

Lao Cai province strives to have 18,000 to 20,000 enterprises by 2030, creating stable jobs for 140,000 - 150,000 workers.

Along with institutional improvement, Lao Cai province pays special attention to resources for policy implementation.

When building policies to support private economic development, we always ask: where are the resources, what is the structure, and how is the implementation possible? Policies can only truly come into life when resources are guaranteed from the central budget, local budgets, and other legal sources.

Mr. Hoang Van Loi, Head of Enterprise Department, Department of Finance

During the period 2026 - 2030, the Department of Finance will carefully calculate these factors so that each policy when issued will be practically effective. When the government accompanies, businesses will feel secure in investing, expanding production, and actively contributing to the province's economic growth.

The province's goal by 2030 is to have 18,000 to 20,000 enterprises. The private economic growth rate will reach 10% - 12%/year, contributing 72% to 75% of GRDP, creating stable jobs for 140,000 - 150,000 workers. Making the private economic sector an important driving force of the local economy.

Source: https://baolaocai.vn/tao-nen-tang-cho-kinh-te-tu-nhan-phat-trien-ben-vung-post885949.html