The conclusions released by the Government Office on August 13 note that, there have been initial results after five months of implementing Resolution 68-NQ/TW. There has been a renewal of mindset and more decisive actions, with confidence in private sector development spreading nationwide. Multiple mechanisms and policies to support businesses have been issued, leading to an increase in newly established and reactivated business households and enterprises. Large enterprises are boldly participating in major national projects.

The three strategic breakthroughs in institutions, infrastructure, and human resources are showing an initial positive impact. The implementation of the three-tier government model from the central to the grassroots levels has reduced costs for citizens and businesses. The amended investment law based on the public-private partnership model has been welcomed by the business community. Ministries and agencies are working more closely together to address business challenges.

However, the conclusions also point out pending issues that need to be addressed soon. The progress in amending and issuing policies remains slow, and decentralisation as well as delegation procedures still face obstacles at both the central and local levels. Resources for business support are limited, especially in terms of finance and policy.

According to the Prime Minister’s conclusions at the meeting, several key tasks must be implemented in the time ahead. The first is to resolve institutional bottlenecks and turn institutions into a competitive advantage by urgently finalising and amending legislation on land, resources, interest rate support, workforce training, digital transformation, and science–technology.

The second is to streamline administrative procedures for production, business, and investment, while reducing compliance time and costs. The third is to complete and supplement planning to attract transparent and equal investment in socio-economic, infrastructure, and energy projects.

The fourth is to accelerate the three strategic breakthroughs, by developing more open institutions to reduce business compliance costs, building uninterrupted infrastructure to lower input costs and open new growth spaces, and developing human resources capable of meeting the demands of technological transformation and the labor market.

The fifth is to enhance dialogue with businesses and households during policy-making and implementation, while strengthening oversight by the Vietnam Fatherland Front and socio-political organisations.

The sixth is to implement tax and financial support policies. The Ministry of Finance is assigned to promote tax-related measures to help household businesses upgrade into enterprises, small firms grow into medium and large ones, and advance toward becoming global or multinational corporations.

The Prime Minister requested that the 14 localities which have yet to issue their action plans for the implementation of Resolution 68 must complete them by August 15, 2025.

He emphasised that tasks for 2025 are substantial and must be carried out with the spirit of “what is said is done, and what is committed must be delivered,” ensuring swift and decisive action that achieves both immediate and long-term results.

Execution must adhere to the principle of “six clarities” - clear person, clear task, clear responsibility, clear timeline, clear output, and clear authority. The ultimate measure of success will be the private sector’s contribution to GDP, breakthroughs in science and technology, innovation, productivity growth, and the country’s advancement into a new stage of development.

Private economic sector set for breakthrough growth as golden opportunities emerge

VOV.VN - After nearly four decades of pursuing the Doi Moi (Renewal) process, Vietnam’s private economic sector has grown into a key engine of growth, but institutional hurdles, an uneven business environment, and short-term thinking continue to hinder its breakthrough potential.