ANTD.VN - “Private economic development - a lever for a prosperous Vietnam” is the topic of the latest article by General Secretary To Lam published on the afternoon of March 17. The article received consensus and response from the business community, and is also a message to add confidence and momentum for private enterprises to continue to contribute more strongly to a prosperous Vietnam.
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The private economy is properly recognized as playing a lever role in a prosperous Vietnam. |
To make the private economy truly a lever for development
The private economy plays a very important role in shaping the future of Vietnam's economy. The recent affirmation of the highest leader of our Party has added confidence and strength to the private economic sector.
The era of national development is being opened by new policies to liberate investment resources and promote the spirit of self-reliance and strength of the Vietnamese business community, in which the private economy is one of the most important pillars.
In the article, General Secretary To Lam affirmed that the nearly 40-year journey of Doi Moi has marked a resilient, breakthrough and development-hungry Vietnam. From an inefficient, centrally planned economy with an average income per capita of only 96 USD in 1989, Vietnam has risen strongly, and is expected to enter the group of upper-middle-income countries by the end of 2025, equivalent to over 5,000 USD/person/year.
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The private economy is properly recognized as playing a lever role in a prosperous Vietnam. |
This success has a very important contribution from the private economic sector with nearly 1 million enterprises, about 5 million individual business households. The private economic sector currently contributes about 51% of GDP, more than 30% of State budget revenue, creates more than 40 million jobs, accounts for more than 82% of the total labor force in the economy, and contributes nearly 60% of total social investment capital.
These are clear figures that demonstrate how important the private sector is and how it needs to be treated equally and effectively.
The private economy not only helps expand production, trade and services but also makes an important contribution to improving labor productivity, promoting innovation and increasing national competitiveness.
Vietnamese private enterprises not only dominate the domestic market but also affirm their brands in the international market. This proves that if there is a favorable development environment, Vietnamese enterprises can completely reach far and compete fairly with the world.
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If there is a favorable development environment, Vietnamese enterprises can completely reach far and compete fairly with the world. In the photo: Tan Hiep Phat's international product distribution map |
At the same time, General Secretary To Lam pointed out 7 key solutions to promote the development of the private economic sector as a lever for a prosperous Vietnam. The solutions include: Perfecting institutions; Effectively protecting the rights of private enterprises; Prioritizing the development of large-scale private economic groups; Promoting startups, innovation, and digital transformation; Reforming institutions and creating a service-oriented administration; Maximizing the liberation of resources such as capital, land, and technology; Developing a sustainable private economy, along with business ethics and social responsibility...
These are all fundamental solutions, valuable "medicines" to completely cure "diseases" that have long been barriers to sustainable, long-term development.
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Mr. Can Van Luc (Member of the National Financial and Monetary Policy Advisory Council) analyzed that the General Secretary's direction on private economic development is "very drastic and has specific quantification". |
“More faith, more desire, more determination…”
All seven solutions pointed out by the General Secretary are assessed by Vietnamese businesses as creating new momentum for the private sector. The Vietnamese business community is unanimous in its response to the idea that a prosperous economy cannot rely solely on the state economic sector or foreign investment, but also needs the leverage of a strong private sector.
Mr. Pham Van Khoi (Chairman of the Board of Directors of Phuong Thanh Investment and Construction Joint Stock Company) acknowledged: "The private economy is developing and the orientation of the Party and State is very clear, showing harmonious, appropriate and fair support among economic components and forces."
Mr. Nguyen Duy Hung, Chairman of the Management, Operational Assurance & Reputation Committee (Tan Hiep Phat Company) expressed his belief that: "With the strong policy and message from the highest leader of the Party, the private economic force will have more confidence, more aspiration, more determination to contribute to the cause of national construction and development.
For the private economy to develop, it is necessary to reform institutions and administrative procedures, increase access to land resources, and remove barriers in the investment and business process with private enterprises.
The private economy is the most important driving force, contributing to achieving the growth target of 8% in 2025 and double digits in the following years."
A hot issue raised by the General Secretary is that property rights, ownership rights, freedom of business and contract enforcement of private enterprises will be better guaranteed; at the same time, the inconsistency between the central and local levels will be overcome; and acts of abusing inspection and examination to harass and cause difficulties for enterprises will be strictly handled.
General Secretary To Lam's article touched on the most core and practical issues that are eroding the enthusiasm and motivation of businesses.
The General Director of Phuc Sinh Joint Stock Company cited: “We are going to build two factories soon, so we really need the State authorities to review the approval documents in just 3 months instead of 6 months, to speed up production and business. Private enterprises really have a lot of potential. As long as the difficulties are removed, they will “explode”.
Mr. Can Van Luc (Member of the National Financial and Monetary Policy Advisory Council) further analyzed: “The General Secretary also clearly stated the target of cutting 30% of administrative procedures, time for processing documents and related costs, including unofficial costs. I think this is a very drastic and specifically quantified direction.”
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Mr. Nguyen Duy Hung (Chairman of the Management Committee, Operational Assurance and Reputation - Tan Hiep Phat Company): The private economic force has more confidence and aspiration to contribute to the construction and development of the country! |
Currently, the strong rise of many Vietnamese private enterprises, not only dominating the domestic market but also affirming their brands in the international market with many prestigious and famous brands such as Vingroup, Sungroup, Vietjet, Truong Hai, Hoa Phat, Tan Hiep Phat, etc., all bring inspiring stories and entrepreneurial paths. That path will continue to open up with the clear, coherent and consistent thinking of "Private economic development - a lever for a prosperous Vietnam".
It can be seen that the message that the General Secretary sent to the business community in particular and the whole society in general is very clear and consistent, opening up development opportunities for the private economic sector not only at present but also for the future in the era of the Vietnamese nation's rise.
“With the strong policy and message from the Party’s top leader, the private economic force will certainly have more confidence, more aspiration, more determination to contribute to the cause of national construction and development. For the private economy to develop, it is necessary to reform institutions and administrative procedures, increase access to land resources, and remove barriers in the investment and business process with private enterprises.
Mr. Nguyen Duy Hung - Chairman of the Management Committee, Operation and Reputation Assurance (Tan Hiep Phat Company)
Source: https://www.anninhthudo.vn/cong-dong-doanh-nghiep-viet-duoc-tiep-them-niem-tin-va-khat-khao-cong-hien-post606544.antd
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