Prime Minister: Spreading aspirations, inspiring the whole society to compete to get rich

Prime Minister Pham Minh Chinh works with the Private Economic Development Research Board (Board IV). Photo: Duong Giang/TTXVN

Also attending were Deputy Prime Minister Nguyen Hoa Binh ; Deputy Prime Minister Nguyen Chi Dung; leaders of relevant ministries, sectors, and agencies; experts, scientists, and leaders of economic groups who are members of the Private Economic Development Research Committee (Committee IV) and the Administrative Reform Advisory Council.

Since its establishment in October 2017, with its core function of leading research and providing advice and proposing solutions for reforming mechanisms, policies, and administrative procedures related to the development of the private economy, linked to national economic goals, Committee IV has affirmed its role as a bridge for substantive public-private dialogue through organizing high-level national and regional forums; and as the nucleus for building and operating a closely linked network of business associations nationwide.

In implementing Resolution No. 68-NQ/TW of the Politburo and the Resolutions of the National Assembly and the Government on the development of the private economy, especially the tasks assigned by the Prime Minister at the first meeting of the National Steering Committee for the implementation of Resolution No. 68-NQ/TW, Committee IV proposes the development of a toolkit for measuring and monitoring the implementation of Resolution 68; the annual organization of the "Overview of Vietnam's Private Economy" program; and the implementation of several solutions to mobilize society and people to participate in economic activities, including the private economy, based on knowledge, technology, and skills; promoting communication programs, exchanges, dialogues, and fostering entrepreneurship, innovation, and the development of new economic models…

Following a lively discussion among delegates on the development of the private economy, as well as the proposals of Committee IV, concluding the meeting, Prime Minister Pham Minh Chinh highly appreciated the heartfelt, responsible, and practical opinions of the delegates; as well as the results of the activities and contributions of Committee IV in its 8 years of establishment and operation, especially in the 2021-2025 period; affirming that the contributions of Committee IV and the delegates were built on intellect, passionate dedication, and a strong spirit of solidarity for the goal of strongly developing the private economy and contributing to the overall development of the country.

Prime Minister Pham Minh Chinh speaks at a working session with the Private Economic Development Research Board (Board IV). Photo: Duong Giang/TTXVN.

The Prime Minister noted that the resolution and action program for the development of the private economy have been issued with very specific tasks and solutions; the issue is to implement them effectively. Therefore, a new mindset and approach are needed, one that is inclusive, comprehensive, and global; contributing to restructuring the economy and transforming the growth model towards a digital, green, and circular direction; the implementation of Resolution 68 must be placed within the overall framework of the Party, State, National Assembly, and Government's policies, resolutions, and action programs in all fields; implementation must be swift and bold to turn the situation around and transform the state.

To achieve this, institutional obstacles must be removed; mechanisms and policies must be in place to attract resources from the entire society; the development and application of science, technology, innovation, and digital transformation must be promoted; human resources and smart governance must be developed; and infrastructure must be seamless.

During implementation, it is necessary to closely follow the practical situation, innovate thinking, and act decisively; to have a long-term vision, think deeply, and do things on a large scale. The State plays a facilitating role, businesses innovate and implement; and the private economy develops under the leadership of the Party.

The Prime Minister assessed that, in the past period, Committee IV has promptly grasped and reflected the practical situation of the private economic sector; proactively advised on strategic mechanisms and policies for the development of the private economic sector; created effective dialogue mechanisms between the State and investors; contributed to building a network of business linkages and business associations in Vietnam; and actively participated in the development of Resolution 68 of the Politburo on the development of the private economy and the Government's Action Program to implement Resolution 68.

Prime Minister Pham Minh Chinh pointed out that, in order for the whole country to achieve 8.3-8.5% growth in 2025 and double-digit growth in the coming period, the private sector must actively participate and have a higher growth rate, at least equal to the overall growth rate of the country; mobilizing the strength and resources of the entire people and society into economic development in general, including the development of the private sector, bringing both material and spiritual benefits to the people.

Members of the Private Economic Development Research Committee (Committee IV) attend the working session. Photo: Duong Giang/TTXVN

Agreeing to the proposal of Committee IV to develop a set of indicators for measuring and monitoring the implementation of Resolution No. 68-NQ/TW, which the Ministry of Finance had already developed immediately after the Government issued the Action Program for implementing Resolution 68, the Prime Minister stated that this is one of the important sources of information for the National Steering Committee for the implementation of Resolution No. 68-NQ/TW to accurately assess the people and the work, and enhance transparency and effectiveness in leadership and management. He requested Committee IV to coordinate with the Ministry of Finance and relevant agencies to urgently begin the work and immediately develop a substantive set of indicators and a smart, intuitive digital dashboard to serve the Prime Minister and the National Steering Committee.

With the task of completing the set of measurement indicators by August 2025, the Prime Minister noted the need to develop data and methodologies to measure and promote household businesses to become enterprises; small enterprises to become large enterprises; and large enterprises to become even larger enterprises, participating deeply in global value chains.

Regarding the proposal to organize the program "Overview of Vietnam's Private Economy," the Prime Minister stated that this is a very welcome initiative aimed at creating channels for deep and substantive public-private dialogue; contributing to the national campaign, spreading aspirations, inspiring the whole society, and responding to the movement of "all people competing to get rich."

The Prime Minister agreed to study the organization of the program, emphasizing that it should avoid formality and instead be substantive and effective; that tools should be in place to ensure the program's success and practical effectiveness; and assigned the Ministry of Finance to coordinate with Committee IV to research the content, scale, and organizational methods of this initiative.

Suggesting that corporations and businesses, especially those participating in Committee IV, study the establishment of a "Private Economic Development Fund," Prime Minister Pham Minh Chinh requested a strengthening of communication on private economic development, focusing on introducing good models and new approaches for people and businesses to learn from and replicate; at the same time, organizing the consideration and appropriately honoring individuals, businesses, and organizations with outstanding achievements in private economic development.

The Prime Minister emphasized that the development of the private economy is a matter of great concern to the Central Committee, the Politburo, headed by General Secretary To Lam, and has been addressed through early resolutions and is being actively implemented. He expressed confidence that in the coming time, Vietnam's private economy will truly reach new heights, contributing to the realization of the aspiration to build a strong and prosperous Vietnam, where the people are increasingly well-off and happy.

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