Trust, motivate and inspire private economic development

Prime Minister Pham Minh Chinh, Head of the Steering Committee for the development of the private economic project, chaired the second meeting of the Steering Committee, continuing to give opinions and further perfecting the draft project to prepare for submission to the Politburo - Photo: VGP/Nhat Bac

Prime Minister Pham Minh Chinh, Head of the Steering Committee for the development of the private economic project, chaired the second meeting of the Steering Committee on the afternoon of April 2, continuing to give opinions and further perfecting the draft project to prepare for submission to the Politburo.

Also attending the meeting were members of the Party Central Committee: Deputy Prime Minister Nguyen Chi Dung, Deputy Head of the Steering Committee; Minister of Finance Nguyen Van Thang, Deputy Head of the Steering Committee; Minister, Head of the Government Office Tran Van Son; Chairman of the Hanoi People's Committee Tran Sy Thanh; leaders of ministries, branches, central and local agencies.

At the meeting, the Steering Committee gave opinions on the draft Project, draft Resolution of the Politburo, draft report of the Government Party Committee; delegates discussed, focused on assessing the current situation, development of the private economy, position, role, achievements, shortcomings, limitations of this sector, analyzed the causes, lessons learned, international experience, some viewpoints, goals, orientations, tasks, and main solutions for developing the private economy in the coming time.

According to reports and opinions at the meeting, the private economy was officially recognized in the 1986 Party Congress Document; the perception of the role of the private economy gradually changed along with the process of forming and developing the socialist-oriented market economy, from not being recognized (before 1986) to being recognized and considered a component of the multi-sector economy (period 1986-1999); being affirmed as an important long-term component, becoming the driving force of economic development (period 2000-2015); being focused on strong development, being an important driving force in the development of the socialist-oriented market economy (period from 2016).

After 40 years of innovation, the private economy has developed in both quantity and quality, becoming one of the leading important pillars of the economy.

The private economic sector currently has more than 940,000 enterprises and more than 5 million business households in operation, which is the core force in creating wealth and material resources, making important contributions to economic growth, creating jobs, improving labor productivity, promoting innovation and increasing national competitiveness, contributing to hunger eradication, poverty reduction, and stabilizing social life.

The private economic sector contributes about 50% of GDP, more than 30% of total state budget revenue, and 82% of total labor force. Many private enterprises have grown strongly, affirmed their brands, and reached out to the world market.

However, most private enterprises are micro, small and medium-sized; their financial potential and management skills are limited; their technological and innovation capacity is low; their labor productivity, operational efficiency and competitiveness are not high; their business thinking is seasonal, lacking strategic vision, and lacking connections between domestic enterprises and enterprises with foreign direct investment.

In addition, awareness of the position and role of the private sector in the economy is still inadequate; institutions and laws are still problematic and inadequate; freedom of business and property rights are not fully guaranteed. The private sector still faces many barriers in accessing resources, especially capital, land, resources and high-quality human resources.

Deputy Prime Minister Nguyen Chi Dung speaks at the meeting. Photo: VGP/Nhat Bac

In order for the private economy to develop strongly and enhance national competitiveness to achieve the goal of becoming a developing country with modern industry and high average income by 2030 and a developed country with high income by 2045, new awareness, thinking and breakthrough solutions are required to arouse confidence and create new momentum for the private economy.

The draft Project proposes common groups of tasks and solutions and two separate groups of tasks and solutions for large enterprises, growing medium-sized enterprises, and small, micro-enterprises and business households.

In his concluding remarks, Prime Minister Pham Minh Chinh, Head of the Steering Committee, stated that this is a Project with difficult content, wide scope, many research subjects, and extremely important significance, not only related to the entire private economic sector but also related to all levels, sectors, localities, and the overall socio-economic development of the country in the new context and new circumstances.

The Prime Minister directed to continue to thoroughly grasp and inherit the thoughts, guiding viewpoints, and solutions in the Party's resolutions, articles, and instructions of General Secretary To Lam related to the private economy.

Leaders of ministries, branches, central and local agencies attended the meeting. Photo: VGP/Nhat Bac

Leaders of ministries, branches, central and local agencies attended the meeting. Photo: VGP/Nhat Bac

Leaders of ministries, branches, central and local agencies attended the meeting. Photo: VGP/Nhat Bac

The Prime Minister assigned the agencies to absorb the opinions and continue to complete the Project to submit to competent authorities, with the viewpoint that resources originate from thinking and vision, motivation originates from innovation and creativity, and strength originates from people and businesses.

Regarding the scope of the Project, the implementation period until 2030 and the vision to 2045, the private economic sector space includes all types of private enterprises and individual business households.

Regarding the guiding ideology in building the project, the Prime Minister said that there must be a stronger breakthrough in private economic development, with the mindset of overcoming one's own limits, focusing on key points, accurately choosing "levers and fulcrums", with feasibility, creating a turning point in private economic development, making an important contribution to the implementation of the two 100-year goals (by 2030, the 100th anniversary of the founding of the Party and by 2045, the 100th anniversary of the founding of the country).

Noting that the expression needs to be simple, easy to understand, easy to remember, easy to do but effective, the Prime Minister emphasized the need to liberate the entire productive capacity of the economy through private economic development; mobilize all resources of the private sector for national development; effectively exploit all resources, taking internal resources as fundamental, strategic, long-term, decisive (internal resources include people, nature and cultural - historical traditions), effectively and harmoniously combining with external resources (capital, technology, management, etc.) is important, breakthrough, and regular in private economic development.

Regarding viewpoints, the Prime Minister stated that there must be a unified understanding of the role, position, and importance of the private economy in the overall economy, affirming that this is the most important driving force for growth.

Ensuring property rights and ownership rights; ensuring the broadest and most extensive freedom of business possible in various forms and methods; equal access to the country's resources and assets; changing the state from passively receiving, resolving administrative procedures, and removing difficulties for businesses and the private economy to a proactive and active state of promoting the development of the private economy in the right direction, serving the interests of the nation, the people, and the interests of the people.

Regarding goals, the Prime Minister suggested studying and setting higher goals for the private economy's contribution to GDP and increasing labor productivity...

Regarding the guiding ideology in building the Project, the Prime Minister said that there must be a stronger breakthrough in developing the private economy, with the mindset of overcoming one's own limits, having a focus, key points, accurately choosing "leverages, fulcrums", with feasibility... Photo: VGP/Nhat Bac

Regarding tasks and solutions , the Prime Minister said that it is necessary to emphasize more on a number of tasks and solutions, first of all , to raise awareness of the political system, business community, society and people about the position, role and importance of the private economy, create high unity, correct awareness, arouse confidence, create new impetus and new momentum to develop the private economy.

Second, build and organize the implementation of institutions with the spirit that institutions must be open, cut out cumbersome procedures, not cause inconvenience or congestion for people and businesses, minimize time and compliance costs; especially ensure that business establishment is as simple, convenient and quick as possible with a specific time limit (for example, how many days, hours, minutes...) and implemented entirely in a digital environment.

Third, in terms of resource mobilization, it is necessary to diversify resources, markets, products, and supply chains so that people and businesses can access jobs and business opportunities in the most convenient, easy, and suitable way; promote public-private cooperation according to the models of "public leadership, private governance", "public investment, private management", "private investment, public use".

To liberate resources among the people, it is necessary to ensure freedom of business, property rights, ownership rights, protect the legitimate and legal rights and interests of people and businesses; not criminalize economic and civil relations, and solve economic problems by economic measures.

Along with that, promote sustainable business; develop green economy, digital economy, take science and technology, innovation as the foundation and driving force; respond to climate change; have mechanisms and policies to encourage priority areas.

The Prime Minister assigned the agencies to receive comments and continue to complete the Project to submit to competent authorities, with the viewpoint that resources originate from thinking and vision, motivation originates from innovation and creativity, and strength originates from people and businesses. Photo: VGP/Nhat Bac

Fourth , we must believe in the private economy, have faith, hope, create motivation, and inspiration for the private economy, encourage all people and businesses to develop production and business, create jobs and livelihoods, bring efficiency to society, enrich themselves, their families, and enrich the country.

The Prime Minister said that it is necessary to promote smart governance; develop infrastructure to reduce input costs, logistics costs, increase product and business competitiveness, and increase labor productivity. Mobilize and assign tasks to private enterprises to participate in key national projects, and implement three strategic breakthroughs in institutions, infrastructure, and human resources.

The Prime Minister stated that it is necessary to "boldly and confidently assign difficult tasks to the private economic sector"; there is a mechanism to assign the private economic sector to participate in developing and modernizing the defense and security industry.

Regarding implementation, the Prime Minister noted that, along with drafting the Project and Resolution to submit to the Politburo, it is necessary to develop a Government action program to promulgate and implement immediately after the Project and Resolution are approved by the Politburo; at the same time, urgently develop draft laws and resolutions to submit to the National Assembly. In particular, the Prime Minister assigned the Ministry of Finance to study and develop a draft law on the private economy.

Source: https://baonghean.vn/dat-niem-tin-tao-dong-luc-truyen-cam-hung-phat-trien-kinh-te-tu-nhan-10294321.html