Enhancing the competitiveness of the private economy in the new era

Recently, the Steering Committee for the development of the private economic project held its first meeting to discuss and shape the program framework, key tasks, viewpoints, goals and main directions to develop the project to submit to the Politburo for consideration and approval.

The meeting was chaired by Deputy Prime Minister Nguyen Chi Dung, Deputy Head of the Steering Committee, with the participation of leaders of ministries, branches, central agencies and representatives of provinces and centrally run cities who are members of the Steering Committee.

Deputy Prime Minister Nguyen Chi Dung, Deputy Head of the Steering Committee for the development of the private economic project, chaired the first meeting of the Steering Committee to outline the program, tasks, viewpoints, goals, and main directions for the development of the project to submit to the Politburo.

Carrying out the tasks assigned by the Central Government, on March 6, 2025, the Prime Minister issued Decision No. 526/QD-TTg to establish the Steering Committee for the development of the private economic development project. Prime Minister Pham Minh Chinh serves as the Head of the Committee, while Deputy Prime Minister Nguyen Chi Dung serves as the Standing Deputy Head of the Committee and Minister of Finance Nguyen Van Thang is the Deputy Head in charge.

At this meeting, the Steering Committee focused on discussing key issues such as the political, legal and practical basis for developing the Project; the overall structure of the Project as well as the core contents. Delegates especially emphasized the role, position and outstanding contributions of the private economy in the country's socio-economic development, especially in the current context and the coming period, when Vietnam is striving to become a rich, powerful and prosperous country.

The Steering Committee conducted a comprehensive assessment of mechanisms and policies to promote the private economy; the development situation of this sector; lessons learned from other countries in the world as well as perspectives, goals, tasks and solutions for developing the private economy in the future. Accordingly, the private economy was officially recognized since the 6th National Congress of the Party (1986) and has been continuously affirmed in subsequent documents and resolutions. Notably, Resolution No. 10-NQ/TW of the 12th Central Executive Committee identified the private economy as an important driving force in the socialist-oriented market economy. Over the past time, this sector has grown steadily, making increasingly important contributions to the country's innovation and development.

Currently, the private economy includes more than 6.1 million business establishments, of which there are about 940,000 active enterprises and more than 5.2 million business households. This sector maintains a stable growth rate, continuing to be the largest driving force in the economy. The team of entrepreneurs is also increasingly mature, with the desire to get rich legitimately, constantly improving management and business capacity. At the same time, the social responsibility, ethics and business culture of enterprises and entrepreneurs are also gradually improving significantly.

The Steering Committee believes that Vietnam is preparing to enter a new era - an era of prosperity, wealth and sustainable development, with the goal of building a socialist Vietnam with rich people, strong country, democracy, equality, civilization, on par with the world powers. In that context, a correct and objective assessment of the role of the private economy is extremely necessary for this sector to truly become the core driving force of the economy.

The private economic development project needs to focus on removing institutional barriers and bottlenecks; building a favorable, transparent and safe business environment to maximize the mobilization of resources among the people, exploiting potential, intelligence and entrepreneurial spirit; at the same time promoting innovation and enhancing the competitiveness of the private economy in the new period. In particular, the project must propose breakthrough and outstanding solutions, mechanisms and policies for the private economy to develop strongly and sustainably, becoming a pioneering force in the country's industrialization and modernization, contributing to realizing the goal of Vietnam becoming a developed, high-income country by 2045.

In his concluding remarks, Deputy Prime Minister Nguyen Chi Dung requested the members of the Steering Committee to fully absorb the valid opinions to complete the Project. He emphasized that the policies must ensure accuracy, correctness, strength, breakthrough, feasibility and specificity, while demonstrating a high spirit of action. This is also the general orientation in the development of upcoming resolutions and legal documents.

Given the importance of the Project and the ultimate goal of submitting it to the Politburo for approval in the form of a Resolution, the Deputy Prime Minister affirmed that the delegates basically agreed with the structure and content of the Project, creating the premise for the next steps of implementation.

Source: https://thoibaonganhang.vn/nang-cao-suc-canh-tranh-cua-kinh-te-tu-nhan-trong-ky-nguyen-moi-161433.html