We must innovate our thinking and make breakthroughs in mechanisms and policies for the private economy to develop.

- Sir, why is it still necessary to emphasize equality, create opportunities, care, policies... to support the development of the private economy?

- We have witnessed the ups and downs of the private economic sector and private entrepreneurs. With the spirit of "looking straight at the truth", the Party and the State have put forward a policy of comprehensive national renovation, recognising the role and importance of the private economy, gradually creating conditions for the formation and development of the private sector... In particular, the 5th Central Conference of the 12th tenure issued Resolution 10-NQ/TW on developing the private economy into an important driving force of the socialist-oriented market economy.

However, policies and solutions generally provide incentives and benefits to state-owned enterprises and FDI enterprises, such as in access to land, credit capital, human resources, and tax and customs policy incentives.

Private enterprises have not received adequate attention. Therefore, more than ever, we need to emphasize and create equality of opportunity, pay attention and have appropriate policies to support the development of the private economy, truly playing an important role as a driving force of the economy.

- Could you please tell us about the position and potential of the private economy? What are the pros and cons of the government and functional agencies' management of the private economy in recent years?

- The private economic sector is generating about 50.5% of the economy's GDP, contributing about 30% of the state budget revenue, attracting about 85% of the labor force, and is the main growth driver of the economy. In a stable economic context, not affected by external shocks, the growth rate of the private economy is often higher than the growth rate of the entire economy.

Investment capital from the private economic sector accounts for over 50% of total social investment capital. In terms of efficient use of production and business capital, private enterprises need 1.61 dong of capital to generate 1 dong of net revenue, while state-owned enterprises need 2.66 dong.

With the above reality, the Party and State have recognized the role and importance of this economic sector in the process of building a prosperous society.

In recent years, although there have been breakthroughs in institutional reform and improvement of the legal environment for investment and business, with encouraging results, some issued policies have not been suitable for the actual situation. These activities are only of a "situation-solving" nature, correcting defects at the surface level without considering the overall root of the problem in the issuance of legal documents.

Therefore, the private economy still faces many policy and policy implementation barriers. The legal system and law enforcement are still lacking in specificity and are unstable; institutional problems and shortcomings have not been promptly amended and supplemented to suit reality; low predictability leads to increased risks for the private economic sector.

In the article "Private Economic Development - Leverage for a Prosperous Vietnam", General Secretary To Lam pointed out the shortcomings that the private economy is facing: "The legal system still has many shortcomings and overlaps, the business environment has many obstacles, administrative procedures are complicated, time-consuming, costly and potentially risky. In many cases, the right to freedom of business and property rights are still violated by the weakness or abuse of power of some civil servants in the performance of their duties".

- How do you feel about the content and meaning of the above article by General Secretary To Lam?

- First of all, the article shows the innovation of thinking, viewpoints, visions, principles of management and operation of our country's economy in the new era. That is, to build a complete market economy, operating according to market principles and signals.

This is a necessary condition, a prerequisite to create fairness between the private economy and other economic sectors, to make the most effective use of the country's resources so that the private economy can access credit capital, land, science and technology, and quality labor. Eliminate the ideology of "Public over private" and the "monopoly" of state-owned enterprises in some fields.

Implementing a rule of law state, ensuring that the legal assets of individuals and organizations investing, producing and doing business are protected. Once the state effectively protects the property rights, ownership rights, freedom of business rights and ensures the enforcement of contracts of private enterprises, it will build trust, inspire and encourage the will of self-reliance, self-reliance, and the spirit of dedication to the nation of the Vietnamese business community.

Innovation in thinking, breakthrough in institutional reform, creation, operation of effective and efficient national governance, serving businesses, serving the country, putting national interests above all. The institution is currently the bottleneck of bottlenecks. At this time, if there is no innovation in thinking, breakthrough in mechanisms and policies, the private economy will hardly be able to overcome difficulties, stabilize and develop.

Strengthen, create and develop regional and world-class national enterprises as a lever and economic driver for a prosperous Vietnam. International experience shows that successful industrialized countries are all associated with the leading role of "leading enterprises" and "national enterprises" to create an ecosystem leading the development of small and medium enterprises participating in domestic and international production and value chains. National enterprises always play a central role in implementing development policies and are the locomotives in many important sectors and fields of the economy.

When the General Secretary's viewpoints and visions are urgently and effectively implemented, our country's economy will mobilize and utilize resources, promote national strength and develop rapidly and sustainably.

The General Secretary's article fully mentioned important contents for our country's economy to overcome difficulties and challenges, and seize opportunities in the context of the volatile and unpredictable world and regional economic situation.

- So how do you think the implementation should achieve real results?

- In order for the private economy to become a lever for a prosperous Vietnam, the Party and the State need to clearly define the role of the State in legalizing policies, perfecting the legal system, creating a foundation to stimulate and promote the private economy to make a breakthrough, develop rapidly and sustainably.

The Government needs to urgently and proactively reform institutions, review and amend, and make the legal environment transparent. Complete the system of legal documents to create trust, motivation, and dynamism for the private economy.

To make a breakthrough in institutions, we must start with a breakthrough in economic management thinking, accepting change, being different, and being bold. At the same time, we need to build an open society, welcoming change, and preparing carefully for what will happen in the future.

To respond to and keep up with the rapid development of the 4.0 Industrial Revolution and avoid falling behind, the Government needs to seize opportunities and create new driving forces for development. In particular, it is necessary to improve national leadership capacity, have long-term thinking and vision, train and promote capable, dedicated and action-ready technocrats; nurture and encourage innovative thinking, eliminate bureaucracy, and resolutely say no to corruption.

The Government needs to seek, guide and support the private economy to expand its development space; participate in new industries and fields of the world economy so that the Vietnamese economy can quickly integrate into the global economic flow and not be left behind.

The Government also needs to implement preferential fiscal and monetary policies, support capital, technology and skilled labor suitable for the private economy to produce and do business in new industries and fields.

- You mentioned ethnic enterprises and the ecosystem for ethnic enterprises to lead development, how specifically, sir?

- Urgently develop and implement the National Strategy for the development of ethnic enterprises in line with the trend of reshaping and shifting the global supply chain. In which, it is necessary to make breakthroughs and be flexible in terms of institutions, policies, and capital sources to create, nurture, and develop ethnic enterprises, in order to build an economy that harmoniously combines internal strength, self-reliance, and self-reliance with external strength.

To develop national enterprises in the context of a fragmented and fiercely competitive world economy, the Government must create a system of satellite economic entities including: Enterprises, research institutes, training facilities, management teams and leading experts to accompany national enterprises.

The satellite system aims to develop a network of connections in all areas related to business operations, develop supporting industries, and enhance the independence and autonomy of businesses and the economy.

The business community must be committed, dare to face difficulties, dare to rise from failure, be proactive and flexible in all situations.

Thank you very much.

Source: https://hanoimoi.vn/phai-doi-moi-tu-duy-dot-pha-ve-co-che-chinh-sach-de-kinh-te-tu-nhan-phat-trien-696918.html