A golden opportunity for the private sector to accelerate its growth.

Over the years, the private sector nationwide, and particularly in Quang Ninh province, has grown strongly, becoming a crucial driving force of the economy. Despite these positive results, this sector has been unable to accelerate its growth due to numerous institutional, business environment, and policy obstacles, leading to missed opportunities for breakthroughs. Against this backdrop, Resolution 68-NQ/TW dated May 4, 2025, issued by the Politburo, demonstrates the strong political determination of the Party and State to promote and provide a boost to the development of the private sector.

According to statistics, the private sector nationwide currently comprises over 940,000 businesses and more than 5 million business households, contributing approximately 50% of GDP and over 30% of total state budget revenue. It is a crucial force in promoting innovation, improving labor productivity, increasing national competitiveness, and contributing to poverty reduction and social stability. The private sector is also a major job creator, with 82% of the workforce currently employed in this sector.

In Quang Ninh province, there are currently over 11,500 businesses that declare taxes, with a total registered capital of approximately over 400 trillion VND. Of these, private enterprises account for nearly 98%, contributing over 36% to the province's GRDP.

Many large private enterprises, companies, and corporations have risen to prominence in key sectors such as transportation, industry, tourism, services, logistics, processing and manufacturing, trade, finance, real estate, digital technology, logistics, and high-tech agriculture . Numerous national and international-scale projects have been invested in by private corporations and enterprises, including: Van Don International Airport, Ha Long International Cruise Port, Ao Tien International Port, Tuan Chau Tourist Area, Sun World amusement park, Bach Dang Bridge, Ha Long - Van Don - Mong Cai Expressway, Thanh Cong Viet Hung Automotive and Supporting Industries Complex, and many high-end cruise lines operating in Ha Long Bay, Bai Tu Long Bay, and the islands. Many private enterprises have grown significantly, establishing their brands and expanding their reach to the national and regional markets.

Automobile assembly and production at Thanh Cong Viet Hung Automobile Factory.

Although the private sector has developed, it has not yet reached its full potential and capacity, due to remaining obstacles such as difficulties in accessing capital and land, a lack of modern technology and high-quality human resources; cumbersome administrative procedures; and limited participation in global value chains. Furthermore, some preferential policies and support for private enterprises are not truly effective and are difficult to access; and business costs remain high...

In this context, Resolution 68-NQ/TW was issued to promote the development of the private economic sector to a level commensurate with its potential and in the right direction. The resolution identifies several key objectives: The private economy will develop rapidly, strongly, and sustainably, actively participating in global production and supply chains; possessing high competitiveness regionally and internationally; striving to have at least 3 million operating businesses in the economy by 2045; and contributing over 60% of GDP.

In implementing Resolution 68-NQ/TW, along with the rest of the country, Quang Ninh actively and comprehensively deploys solutions to support the private sector, such as continuing to promote administrative reform, improving the investment and business environment, strengthening the application of technology, supporting innovative startups; encouraging private enterprises to participate in the digital economy, circular economy, green production, etc.

Van Don International Airport is the first airport in the country to be invested in by a private enterprise.

Quang Ninh province recognizes the important role of the private sector as a pioneering force in the industrialization and modernization process. Therefore, the province requires relevant departments and units to continue creating the most favorable conditions for private enterprises to access land, including land in industrial parks and clusters, and land from the recovery of stalled or delayed projects; to expand access to capital for businesses through appropriate credit channels and diversify support forms; to promote the application of science and technology in production and business; to build specific mechanisms and policies; to continue administrative reform; to train human resources; and to support private enterprises; and to encourage household businesses to convert into enterprises…

For Resolution 68-NQ/TW to truly be a catalyst for the comprehensive and breakthrough development of the private economy, it requires the decisive, close, and effective involvement of the entire political system, all levels and sectors, local governments, and the striving, self-reliance, and self-improvement of businesses.

Peace

Source: https://baoquangninh.vn/thoi-co-vang-cho-kinh-te-tu-nhan-but-toc-3371927.html