General Secretary To Lam signed and issued a new resolution of the Politburo on private economic development.

General Secretary To Lam - Photo: GIA HAN

General Secretary To Lam signed Resolution 68 of the Politburo on private economic development.

The private economy is the most important driving force of the national economy.

The Politburo's Resolution clearly states that innovation in thinking and breakthrough solutions to further promote the role of the private economy are urgent requirements.

At the same time, it puts forward 5 core guiding views, demonstrating a strong change in thinking and perception about the role of the private economy.

In which, the private economy is the most important driving force of the national economy, the pioneering force promoting growth, innovation, industrialization, modernization and economic restructuring.

Along with the state economy and collective economy, the private economy plays a core role in building an independent, self-reliant, and effectively internationally integrated economy...

Developing a fast, sustainable, effective and high-quality private economy is both an urgent and strategic task that needs to be specified in national development strategies and policies to unleash all potentials and resources for development.

Completely eliminate perceptions, thoughts, concepts, and prejudices about Vietnam's private economy, and properly assess the important role of this sector in the country's development...

Striving to have 2 million businesses operating in the economy

The Politburo's Resolution sets the goal that by 2030, the private economy will be the most important driving force of the national economy.

Being a pioneer in science and technology development, innovation and digital transformation, contributing to the successful implementation of Resolution 57 of the Politburo and other policies and guidelines of the Party.

Strive to have 2 million businesses operating in the economy, 20 businesses operating/1,000 people. Have at least 20 large businesses 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 total labor force; labor productivity increases on average about 8.5 - 9.5%/year.

Level, technological capacity, innovation, and digital transformation are among the top 3 countries in ASEAN and the top 5 countries in Asia.

The Resolution of the Politburo also clearly states the vision to 2045. Accordingly, Vietnam's private economy will develop rapidly, strongly, sustainably, proactively participate in the global production and supply chain; and have high competitiveness in the region and internationally.

Strive to have at least 3 million businesses operating in the economy by 2045; contributing over 60% of GDP.

Important solution groups

The resolution also clearly states 8 groups of tasks and solutions. These include renewing thinking, reaching high consensus on awareness and action, arousing national belief and aspirations, creating new impetus and new momentum for private economic development.

Consistent awareness of local Party committees, authorities, the entire political system, business community and people about the position and role of the private economy.

The State creates, serves, and supports the private economy to develop rapidly and sustainably, without administrative intervention in production and business activities contrary to market principles, and builds an open, friendly, cooperative, and honest relationship between the government and businesses to serve development creation.

The next group of tasks and solutions is to promote reform, improve and enhance the quality of institutions and policies, ensure and effectively protect ownership rights, property rights, freedom of business, and the right to fair competition of the private economy, and ensure contract enforcement of the private economy.

In which, we promote reform and improve institutions and policies. We innovate the thinking of building and enforcing laws according to market mechanisms, reduce administrative intervention, the "request - give" mechanism, and the mindset of "if you can't manage it, then ban it".

People and businesses are free to do business in fields not prohibited by law.

The resolution emphasizes the task of perfecting the law, removing barriers, creating an open, transparent, low-cost business environment. Transparency, digitalization, automation, and thorough application of artificial intelligence and big data in implementing administrative processes and procedures.

Facilitate the private economy to access resources in terms of land, capital, and high-quality human resources. Promote science and technology, innovation, digital transformation, green transformation, effective and sustainable business in the private economy...

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Source: https://tuoitre.vn/tong-bi-thu-to-lam-ky-ban-hanh-nghi-quyet-moi-cua-bo-chinh-tri-ve-phat-trien-kinh-te-tu-nhan-20250505112803394.htm