Enough power, enough strength, enough advantages to develop private economy

Visionary, strategic and very practical

- In the article "Private economic development - Leverage for a prosperous Vietnam", General Secretary To Lam gave many important views on developing this economic sector. What do you think about this article?

- The article “Private economic development – ​​Leverage for a prosperous Vietnam” by General Secretary To Lam marked a turning point in the awareness of the important role of the private economy, while also providing a strategic vision for the country’s development orientation. This is not only a strong political statement, but also a call to maximize the power of the private economy, making Vietnam a developed country by 2045.

Deputy Head of the National Assembly Delegation of Hai Duong province Nguyen Thi Viet Nga

In this article, the General Secretary affirmed that the private economy is not only a component of the economy but also the leading driving force for growth, leading in the application of technology and innovation. Furthermore, the article also set out specific goals and clear implementation time for the development of the private economy.

During the development process of our country, there was a period when the private economy was not given due importance, or even overlooked, for many reasons. However, over time, the private economy has gradually proven its superiority in the country's economy. Therefore, since the renovation period, the private economy has been increasingly valued. Up to now, together with the General Secretary's article, we have clearly seen the upcoming direction for private economic development.

It can be said that, in his article, the General Secretary has made profound and comprehensive assessments of the role and position of the private economy in our country's economy. The article has a vision of the times, strategic thinking and is very practical. Therefore, it has received great attention and response from public opinion, especially from the business community, because it has mentioned correctly, hitting their aspirations and concerns for many years.

- Some people say that all barriers must be removed and effective solutions must be found so that the private economy can truly become the main driving force for economic development. So, what does the private economy really need to develop and grow, in your opinion?

- That's right, since the reform period, the Party and the State have focused on issuing many policies and laws to develop the private economy. However, in order for the private economic sector to meet the requirements of the new period, as well as to maximize its potential and advantages, it is necessary to identify the barriers, difficulties and obstacles that are hindering the development of domestic private enterprises. These barriers and difficulties have also been fully mentioned in the General Secretary's article.

Through monitoring, I have noticed that the Government's preferential and support policies have not been applied fairly among economic sectors and are not easily accessible to the private economy. This discrimination is also manifested in many other forms, notably in the settlement of administrative procedures.

In fact, through the process of contacting voters, conducting supervision and surveys, I have received the common wishes of many private enterprises and individual business households. They said that the support of the Party and the State for this economic sector in the past time is very valuable. However, there are times when enterprises do not necessarily need capital support first, but most need to solve administrative procedures, to be created the most favorable conditions for development. Enterprises currently not only have to carry out a forest of administrative procedures, but many times the people who solve the procedures also create difficulties and obstacles. It can be said that this is the biggest difficulty and obstacle for enterprises in the private economic sector.

Strong private enterprises will strengthen the national economic strength.

- What does that reality require in designing support policies for the private economic sector in the coming time, madam?

- The current barriers and difficulties require the authorities to review current policies to select and build a system of focused policies to support the private economy. These include policies to support finance, tax, labor, effectively protect property rights, ownership rights, freedom of business rights and ensure contract enforcement of private enterprises... Without a system of focused policies, it will be very difficult to create a breakthrough in the development of the private economy, as well as to achieve the goal of contributing 70% of GDP by 2030, instead of the current contribution of 51% of GDP. We only have 5 years left to achieve this goal, so the authorities must really make efforts to remove difficulties and obstacles for the private economy.

It is necessary to focus on policies to support the development of domestic private enterprises. Illustrative photo.

Furthermore, after completing the process of restructuring the apparatus and administrative boundaries being implemented by the Party and the State, a significant number of people working in the public sector will have to move to the private sector. These people still have the labor force, the ability to contribute and also have the need to earn money. When they no longer work for state agencies, they will be forced to move to the private sector. Therefore, creating conditions for the private economy to develop will greatly reduce the pressure and burden on the state sector.

Thus, the development of the private economic sector will bring many benefits and not only economic significance. Because, when the private economic sector has to "absorb" a lot of labor from the public sector in the coming time, this development will contribute to creating social stability, further strengthening the social security network. This is the special significance of developing the private economic sector, as well as in implementing support and incentive policies to promote the growth of domestic private enterprises.

- To bring the private economy together with the state economy and the collective economy as the core group to build an autonomous, self-reliant and self-reliant economy, in the article, the General Secretary has put forward 7 key tasks that need to be implemented in the coming time. What do you think about these tasks?

- The key tasks that need to be implemented in the coming time as stated in the General Secretary's article are the most important tasks to develop the private economic sector of our country. These are also very specific and quantifiable instructions, not general instructions. The special point of these tasks is that they are clear about the tasks and the agency in charge of implementation. When there are very specific instructions, the implementation will certainly be more favorable and easier.

In the coming time, I hope that relevant agencies will soon start implementing, ensuring synchronization and unity in the implementation stage, because these tasks are closely related to each other. In particular, the most important factor is to continue to have breakthrough reforms in institutions, policies and business environment so that the private economy can maximize its potential, becoming the driving force leading the economy to reach out to the international market. Because, as the General Secretary said, "a prosperous economy cannot rely solely on the state sector or foreign investment, but must rely on internal strength, which is a strong private sector, playing a pioneering role in innovation and development of the country".

Thank you!

The directions that the General Secretary proposed in the article not only help the private economy make a breakthrough but also reflect the strategic thinking of a developmental state. Building large private corporations, promoting innovation and administrative reform are decisive factors for us to maximize economic potential, enhance competitiveness and deeply integrate into the world economy. If implemented resolutely, the directions set out in the article will become an important driving force to turn Vietnam into a high-income developed country by 2045, opening a new era of prosperity and reaching out to the world. All for a strong and prosperous Vietnam, with people increasingly well-off and happy.

Deputy Head of the National Assembly Delegation of Hai Duong province Nguyen Thi Viet Nga

Performed by Thanh Hai