Affirming position in the economy

Implementing policies to encourage private economic development, business support work is always focused on by the Government and localities.

Among the many policies and guidelines to encourage enterprise development and promote the role of entrepreneurs in the cause of national construction and protection that the Central Government has issued, the most prominent are Resolution No. 09-NQ/TW, dated December 9, 2011 of the Politburo on building and promoting the role of Vietnamese entrepreneurs in the period of accelerating industrialization, modernization and international integration (Resolution No. 09) and Resolution No. 10-NQ/TW, dated June 3, 2017 of the 5th Conference of the 12th Party Central Committee on developing the private economy into an important driving force of the socialist-oriented market economy (Resolution No. 10).

In recent times, Dak Lak province has focused on solutions to support business development.

Most recently, the Politburo issued Resolution No. 41-NQ/TW, dated October 10, 2023, on building and promoting the role of Vietnamese entrepreneurs in the new era (Resolution No. 41). To implement this resolution, on May 9, 2024, the Government issued Resolution No. 66/NQ-CP on the Government's Action Program with specific goals and key tasks to be implemented. The Ministry of Finance has also issued a plan to implement Resolution No. 41.

In addition, the Government has launched socio-economic recovery and development programs to help the economy overcome difficulties soon, creating a foundation and favorable conditions for socio-economic development in the period of 2021 - 2025 and the following years, in which, enterprises are given many favorable support conditions, reducing difficulties to soon return to the recovery and growth momentum.

For Dak Lak province, in recent times, the province has focused on implementing key solutions to improve the business environment, enhance national competitiveness, especially administrative reform to support businesses and investors to shorten the time to enter the market, cut costs for businesses. At the same time, remove obstacles and legal barriers to unlock resources for investment in production and business.

A strong economy cannot rely solely on the state sector or foreign investment, but must rely on the solid internal strength of private enterprises. When this sector truly becomes the main driving force, contributing about 70% of GDP by 2030, Vietnam will have the opportunity to make a breakthrough, aiming to become a developed country by 2045."

General Secretary To Lam

In addition, policies to support cost reduction for enterprises, increase access to state support resources; overcome supply chain disruptions, diversify export markets, expand domestic markets; support job creation, training and fostering to improve qualifications and vocational skills for workers; promote digital transformation and innovation in enterprises... have been implemented drastically and synchronously, positively affecting production and business activities of enterprises.

In the recent article “Private economic development - Leverage for a prosperous Vietnam”, General Secretary To Lam affirmed the great role of the private economy in the country's development.

From a centrally planned economy with an average income per capita of only 96 USD in 1989, Vietnam has made great strides, aiming to become an upper-middle-income country by 2025 with an income of over 5,000 USD/person/year.

This success has a very important contribution from the private economic sector. If in the early stages of innovation, the private economy only played a secondary role, the economy mainly relied on the state sector and foreign direct investment (FDI), then in the past two decades, especially when the Politburo issued Resolution No. 09 and the Central Committee issued Resolution No. 10 on private economic development, this economic sector has risen strongly, becoming one of the leading important pillars of the economy and increasingly showing itself to be the most important driving force to promote national economic growth.

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.

Workers operate an automatic production line at the factory of Saigon - Central Beer Joint Stock Company (Tan An ward, Buon Ma Thuot city).

It is worth noting that the private economic sector today not only plays a supporting role but has truly become a main pillar of the economy. According to statistics, with nearly 1 million enterprises and about 5 million individual business households, this sector contributes about 51% of GDP, more than 30% of the state budget, 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. In particular, in the private economic sector, small enterprises, individual business households and cooperatives are increasingly asserting their important position and role.

Source: https://baodaklak.vn/kinh-te/202504/khang-dinh-vi-the-trong-nen-kinh-te-a941d53/