Designing policies to create a "launching pad" for the private economy.

After one year of implementation, Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo on the development of the private economy (Resolution 68) has strongly promoted efforts to reform institutions with the spirit of putting enterprises at the center, creating development and unlocking resources, especially from the private sector.

Workers on duty at a private enterprise in Dong Nai province. (Photo: Nhan Dan Newspaper)

The business community is enthusiastic, seeing this as a "launching pad" for breakthrough development, aiming to reach 2 million active businesses by 2030.

However, from a practical standpoint, the biggest challenge is not the number of newly registered businesses, but rather maintaining businesses that are genuinely operational, capable of survival and growth.

Improving the business environment

Resolution 68 has brought about a fundamental shift in the thinking and awareness of the entire political system regarding the role of the private economy. More importantly, alongside this shift in mindset are concrete actions by central and local agencies to improve the business environment, promote the reduction of administrative procedures, compliance costs, and business conditions, making it easier for businesses to operate. Over the past year, the Government has focused on concretizing the principles of Resolution 68 by submitting numerous laws to the National Assembly for promulgation, and simultaneously developing a series of legal documents to promote the shift in management methods from pre-approval to post-approval in order to unlock resources.
However, in reality, many obstacles still arise. For example, the story of Government Decree 46/2026/ND-CP dated January 26, 2026, detailing the implementation of some articles and measures to organize and guide the implementation of the Food Safety Law, partly shows the discrepancy between the reform orientation at the macro level and the way policies are formulated in some specialized fields.

Immediately after this decree came into effect, numerous businesses in the food sector reported increased procedures for declaration, testing, and production conditions, leading to longer timeframes for bringing products to market and increased compliance costs. Some businesses even had to temporarily suspend the launch of new products due to their inability to meet the emerging requirements. The fact that the competent authority ultimately decided to temporarily suspend the application of Decree 46/2026/ND-CP is clear evidence that the issued policy has not kept pace with the reform spirit of Resolution 68.

The recent "mismatch" shows that management thinking in some areas is still heavily focused on input control, and there is still no sufficiently strong mechanism to ensure the consistency of the legal system. The issue is the need to strictly control the quality of regulations right from the drafting stage, strengthen policy critique, and ensure institutional discipline.

Increase both quantity and quality.

Resolution 68 sets a target of having 2 million businesses operating in the economy by 2030, and at least 20 large enterprises participating in global value chains. These are two different goals, therefore requiring different approaches and solutions.

Regarding the target of 2 million businesses, the current rate of businesses entering and exiting the market is high, with the majority being small and medium-sized enterprises (SMEs) with limited productivity and resilience. This shows that focusing solely on increasing quantity without improving quality will lead to a situation of "increasing in quantity but not in strength." Therefore, the central solution is to improve the conditions for businesses to survive and grow, rather than simply encouraging new establishment.

Therefore, it is necessary to fundamentally remove bottlenecks in access to capital and land, build a stable and predictable business environment; at the same time, there must be policies to support businesses along the value chain, connect markets, improve productivity and competitiveness. A very important direction is to convert household businesses into enterprises, but this must be accompanied by reducing compliance costs and creating clear benefits.

The target of having 20 large enterprises participate in the global value chain is clearly more selective and therefore cannot be achieved through widespread support. First, it is necessary to select a group of enterprises with potential, concentrate resources to "nurture" them instead of providing scattered support; remove bottlenecks in resource accumulation, especially long-term capital, land, and technology investment, to help enterprises reach a sufficiently large scale.

More importantly, policies must shift from supporting production to supporting businesses in securing positions within the value chain, that is, participating in high value-added stages such as design, brand development, and supply networks. In addition, it is necessary to connect large enterprises with a domestic ecosystem of satellite businesses to form sustainable chain capabilities; and to develop a selective strategy for leading enterprises with superior mechanisms and evaluation based on concrete results.

The two aforementioned goals will complement each other. Accordingly, 2 million businesses will create the foundation for broad development, while 20 large businesses will provide the driving force. The core issue is designing the right policies for each group; otherwise, it will be difficult to achieve both goals.

According to nhandan.vn

Source: https://baodongthap.vn/thiet-ke-chinh-sach-lam-be-phong-cho-kinh-te-tu-nhan-a240664.html