Vietnam Weekly continues to record the opinion of former Director of the Central Institute for Economic Management Nguyen Dinh Cung regarding the draft to develop the private economy into the most important driving force.
Institutional revolution
Eliminate legal barriers, remove “bottlenecks of bottlenecks”, create “breakthroughs of breakthroughs” for private economic development; contribute to building Vietnam’s economic institutions into factors that enhance national competitiveness.
Remove administrative procedure bottlenecks in the investment sector, first of all in construction investment. Review administrative procedures in the construction investment sector (investment, environment, fire prevention and fighting, water supply and drainage, construction), abolish unnecessary, inappropriate procedures, duplicated and overlapping procedures...
At the same time, integrate all remaining procedures into a single procedure called “construction licensing”, and implement (i) no more than 1 working week for investment projects in industrial parks, export processing zones, and economic zones; (ii) no more than 4 working weeks for other investment projects.
Dr. Nguyen Dinh Cung: The private economic development program, especially the pillar of developing large-scale ethnic enterprises, must be associated with the development and implementation of development strategies for priority sectors and fields.
Remove bottlenecks in legal regulations on conditional business lines and corresponding business conditions. It is necessary to clearly recognize that business conditions are essentially barriers and restrictions on market entry. The more regulations on business conditions, the greater the obstacles and restrictions on healthy competition, innovation and development for the private economic sector in particular and the economy in general.
Implement the “revolutionary” program of streamlining legal regulations, making transparent, digitalizing and automating administrative processes and procedures for people, businesses and other organizations based on the widespread application of digital technology, artificial intelligence, big data, etc. Making Vietnam a country with a top business environment in Southeast Asia; and having institutions that become outstanding competitiveness in the region.
The three important pillars are land, capital and technology.
Regarding land access , implement some solutions (possibly amending the Land Law, if necessary): Allocate land without collecting land use fees for investors who have purchased and collected land to implement investment projects; In addition to industrial clusters, build industrial zones with reasonable and acceptable land rental costs, specializing in leasing to private investors to implement development investment projects.
Eliminate the social prejudice that private enterprises grow up and become billionaires thanks to real estate business, taking land from farmers... by communicating their contributions to the country's development; they are changing, reforming, and redirecting business investment to develop the country's priority industries. Dr. Nguyen Dinh Cung
Regarding access to capital , in addition to credit programs and other state support for small and medium enterprises, it is necessary to research and establish multi-ownership investment funds as soon as possible (diverse, multi-level national, local and community capital mobilization), providing various types of capital (angel, venture, long-term investment...) for private economic organizations to invest in development.
Regarding science and technology and research and development , stimulate business demand for research and development and support business research and development with the following solutions:
(i) The State, through science and technology funds (national, sectoral and local), supports enterprises in purchasing technology; implementing initiatives and research and development projects proposed by enterprises and approved by competent authorities.
(ii) Enterprises partially fund the implementation of the above-mentioned research and development initiatives and projects; and at the same time conduct research themselves or hire outside research organizations and experts to do so.
(iii) The research products obtained belong to the enterprise and are freely used according to the development needs of the enterprise.
Create a legal framework with outstanding incentives to encourage private enterprises, other organizations and individuals to establish science and technology institutes specializing in research, development, consulting and technology transfer...
Private economic development program
The program encourages transparency, formalization of individual business households and voluntary conversion of individual households into enterprises by eliminating the lump-sum tax regime, while applying the management principle that the more public, transparent and regular the better.
There needs to be a continuous and long-term communication campaign about the private economy and the great contribution of the private economic sector to economic construction and development up to now nationwide. Dr. Nguyen Dinh Cung
The start-up program, including innovative start-ups and encouraging the development of small and medium enterprises. The strategy and policy to attract foreign investment require FDI enterprises to ensure a minimum connection rate with domestic private enterprises in their supply chains.
The program mobilizes and encourages large-scale enterprises to implement development strategies for important economic sectors (semiconductor industry, AI, platform industry, digital technology industry, etc.), large and important national projects, including core technology research and development projects; Encourages and supports large enterprises to invest in expanding their business to foreign markets, thereby competing and penetrating foreign markets to gradually become regional and global economic groups.
Training and knowledge improvement program for entrepreneurs and business managers on business administration, digital technology and artificial intelligence, international integration and competition, business culture and corporate social responsibility...
The private economic development program, especially the pillar of developing large-scale ethnic enterprises, must be associated with the development and implementation of strategies for priority sectors and fields of the country.
In this way, large-scale private enterprises will have a clear, long-term development orientation. This will arouse and promote the creativity and desire to contribute of entrepreneurs, while mobilizing and concentrating national resources for national development.
Mobilize and encourage large-scale enterprises to implement development strategies for important economic sectors such as semiconductor industry, AI, platform industry... Photo: Hoang Ha
Removing psychological barriers and social prejudices about the private economy
There needs to be a continuous and long-term communication campaign about the private economy and the great contribution of the private economic sector to economic construction and development to date nationwide; with special emphasis on job creation, income generation, and contribution to budget revenue.
Communicate the contributions of private enterprises and entrepreneurs to the economic development of some typical localities through investment projects of private enterprises such as in Da Nang, Hai Phong, Quang Ninh, Phu Quoc, Lao Cai and many other localities.
Typical projects enrich and beautify once poor, backward and underdeveloped areas such as Phu Quoc tourism projects, industrial parks, economic zones in Quang Nam, Quang Ngai...
Typical entrepreneurs with diverse contributions in many forms and scales to the development of the country. Examples of entrepreneurs who overcome difficulties and aspire to contribute to the development of the country.
Resources from the people, within the people, and the unlimited potential for innovation and creativity, along with the flexibility of entrepreneurs and private enterprises, will be mobilized, creating new energy and great resources for the country's socio-economic development. When the resolution opens up space and opportunities for development, the private economy will make unlimited contributions.
Share and sympathize with society about the risks and unfortunate failures in business investment of entrepreneurs...
Eliminate the social prejudice that private enterprises grow up and become billionaires thanks to real estate business, taking land from farmers... by communicating the contributions of these enterprises to the development of the country; they are changing, reforming, and redirecting business investment to develop the country's priority industries. Some enterprises, such as VinFast, have pioneered green transformation, competing strongly with enterprises in the same industry with a history of development of hundreds of years...
There are forms of rewards, showing honor, respect, and recognition of the contributions of entrepreneurs in general and typical, exemplary entrepreneurs in particular.
Change the attitude and working methods of all civil servants and public employees towards serving, accompanying and becoming partners in building and developing the country's socio-economy.
Restore and expand various forms of official and unofficial meetings between leaders, especially local leaders at all levels, and local businessmen such as "Businessmen's Coffee", "Club House" (weekly)...
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Source: https://vietnamnet.vn/tien-toi-xoa-bo-moi-rao-can-doi-voi-kinh-te-tu-nhan-2381677.html
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