Concentrate all intelligence and effort to complete the private economic development project

On March 15, the Steering Committee for the Development of the Private Economic Project held its first meeting chaired by the Deputy Prime Minister as assigned by the Prime Minister.

After the meeting, the Government Office issued Notice No. 112/TB-VPCP dated March 17, 2025 announcing the Deputy Prime Minister's conclusion at the Steering Committee meeting.

Deputy Prime Minister Nguyen Chi Dung emphasized that the completed project must create a "boost" for the private economy. (Photo: VGP)

Next, from March 17-21, Deputy Prime Minister Nguyen Chi Dung led a working delegation including representatives of leaders of a number of ministries, branches and relevant agencies to visit and work in Zhejiang and Guangdong provinces (China) to learn from experiences in developing the private economy.

At the same time, during the week of March 17-21, the Ministry of Finance organized seminars and thematic discussions with businesses, business associations, experts, investment funds, commercial banks, etc. to consult on key policy proposals for private economic development.

Deputy Prime Minister Nguyen Chi Dung emphasized that together with the Ministry of Finance, relevant ministries, branches and agencies must focus all their efforts, intelligence and time to complete the Draft Project on Private Economic Development. (Photo: VGP)

Deputy Minister of Finance Nguyen Duc Tam said that based on the opinions of the Steering Committee members, Notice No. 112/TB-VPCP, the results of the Deputy Prime Minister's visit and work in China and the opinions of a number of ministries, localities, enterprises, business associations, and experts, the Ministry of Finance has compiled and completed the draft Project and Resolution on Private Economic Development.

After listening to the report of the Ministry of Finance and comments from representatives of leaders of ministries and agencies, Deputy Prime Minister Nguyen Chi Dung highly appreciated the Ministry of Finance and members of the Steering Committee for working urgently, seriously, methodically and scientifically.

Previous projects would have taken at least 6 months to 9 months or 1 year to develop, but this Project has just started drafting for about 20 days and must complete the Draft in the next few days. The drafting agency has researched, compiled, reviewed, prepared general reports, submissions, etc. and many rich accompanying documents to meet the very high requirements and very urgent time.

Deputy Prime Minister Nguyen Chi Dung chaired a meeting on building a private economic development project. (Photo: VGP)

Emphasize that the completed Project must create a "push" for the private economy, ensure the removal of bottlenecks and barriers, and create excitement, trust, and an open, attractive environment for the private economic sector to develop.

At the same time, review the viewpoint to closely follow and update the policies, resolutions, and conclusions of the Central Committee, the Politburo, and the directions of the General Secretary and the Prime Minister on private economic development, in which it is affirmed that the private economy is the most important driving force for economic development.

This is a Resolution of the Politburo, so it must be concise, brief, clear, actionable and highly feasible. All policies must be accurate, correct, breakthrough, strong enough and immediately deployable, with immediate impact so that the private economy has the conditions to develop rapidly and contribute to growth.

Considering that the Draft is relatively well-constructed, the Deputy Prime Minister suggested reviewing the viewpoints, goals, and specific targets, ensuring close adherence to reality; solutions must be strong enough, innovative, and within authority.

"We must mainly use fiscal and monetary tools and administrative procedures to regulate, adjust and create; minimize the imposition of State intervention orders; ensure fairness and equality among economic sectors and comply with market economy principles and international commitments," the Deputy Prime Minister emphasized.

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