Experts suggest solutions to promote private economic development

Seminar "Solutions to promote private economic development"

This is the sharing emphasized by experts at the Seminar "Solutions to promote private economic development", organized by Nguoi Lao Dong Newspaper on March 20 in Ho Chi Minh City.

Building a favorable business environment for private enterprises to develop

Associate Professor, Dr. Tran Dinh Thien, former Director of the Vietnam Economic Institute, commented that the current context of the private enterprise sector is undergoing strong changes, different from before. In 1986, when Vietnam introduced the private economy into the multi-sector economy, the economy revived. However, it is only now that the role of the private economy is truly recognized as the most important driving force. This event has special significance, is an important fulcrum, creating confidence in the sustainable development of the economy.

In fact, in recent times, the Vietnamese private enterprise sector has remained small, weak, and faced many difficulties, while this sector should have played a fundamental role in the economy.

Associate Professor, Dr. Tran Dinh Thien believes that now is the decisive moment. The role of the State needs to be to pave the way, guide and most importantly, build a favorable business environment for private enterprises to develop.

Accordingly, it is necessary to build a new institutional system. The current Labor Law mainly regulates manual labor, but this time it needs to be supplemented and adjusted to suit the new context. Laws such as the Law on Science and Technology, the Law on Intellectual Property, etc. also need to be amended to create a more favorable legal corridor for private enterprises to develop, so that private enterprises can participate in the global supply chain, promoting the spirit of entrepreneurship and innovation.

At the seminar, according to experts, the business environment is the most important factor in promoting the development of the private economy. Simplifying administrative procedures is necessary, but more importantly, ensuring transparency and publicity in the implementation of policies. Enterprises need to be guided clearly and easily about related processes and procedures.

Associate Professor, Dr. Tran Dinh Thien believes that now is the decisive time, creating a breakthrough development for the private economy.

Priority areas need to be selected.

Sharing the same view, Dr. Nguyen Quoc Viet, a public policy expert, said that promoting private economic development is an important strategy to enhance the competitiveness of the economy through industrial policies and infrastructure investment, combined with strengthening the capacity of the domestic economic sector, especially domestic private enterprises.

To effectively implement this strategy, there needs to be a systematic plan, clearly identifying key areas and projects that need priority investment, with the participation of both the public and private sectors.

Dr. Nguyen Quoc Viet emphasized that the focus of the private economic development policy is that the State needs to select priority areas and projects for development in each phase, in accordance with the ability to mobilize and allocate resources. Placing orders for enterprises to implement key projects must be done on the basis of clear, public selection criteria and with specific scope limits.

Selected enterprises must be those that have or have the potential to implement key projects and fields, have the ability to lead development trends and create positive spillover effects to other industries and enterprises. This spillover will promote entrepreneurial spirit in the private sector, arousing sustainable development momentum for the entire economy.

Dr. Nguyen Quoc Viet emphasized that the focus of the private economic development policy is that the State needs to select priority areas and projects for development in each stage, in accordance with the ability to mobilize and allocate resources.

To realize these goals, the State needs to review, adjust and synchronize relevant laws, especially the Law on Public Investment, the Law on Public-Private Partnership and the Law on Bidding, to create a clear and consistent legal corridor for private enterprises to develop.

In addition, it is necessary to issue specific incentive policies for enterprises receiving orders, such as incentives on access to resources, including capital, land, and labor; tax incentives; and at the same time, simplify administrative procedures to create favorable conditions for enterprises in the process of implementing projects.

"The political determination of senior leaders is very clear. However, to put these policies into practice, there needs to be innovative models of a breakthrough nature from the local level, even ready to 'break the rules' within the legal framework to build pilot mechanisms for private enterprises," emphasized Dr. Nguyen Quoc Viet.

Le Anh