Talking to the Vietnam News Agency (VNA)’s correspondents in Laos, Pham Thi Minh Huong, member of the Standing Committee of the General Association of Vietnamese People in Laos, and Vice President of the Association of Vietnamese Businesspeople Abroad (BAOOV), said the resolution has brought about clear and substantive and wide-ranging changes in practice.

She noted that market confidence has been significantly strengthened, with the number of newly established businesses has risen markedly since the resolution was introduced, reflecting a renewed entrepreneurial spirit and growing aspirations for wealth creation. Timely tax relief policies for enterprises, individuals and household businesses have further reinforced confidence, encouraging more people to enter the market or expand operations.

The performance of the resolution has resulted in a more vibrant start-up ecosystem, with many household businesses transitioning into formal enterprises and innovation gaining stronger momentum across the economy, she said.

Efforts to streamline the administrative apparatus from central to local levels, alongside the rollout of a two-tier local administration model from July 1, 2025, have helped remove bottlenecks for businesses. Measures to cut and simplify administrative procedures, decentralise decision-making, promote digital transformation and develop capital markets have significantly reduced processing time and compliance costs, Huong said.

These changes, she noted, have made it easier for enterprises to access critical resources such as finance, land, skilled labour and technology - improvements that are clearly felt not only by domestic firms but also by overseas Vietnamese investors engaging with authorities in Vietnam.

Huong added that the Government has moved to translate the resolution’s vision into concrete action, particularly by encouraging private firms to participate in major national infrastructure projects - areas once dominated by State-owned or foreign enterprises. Increasing the private sector's involvement in airports, seaports, railways and metro systems is opening up substantial new development space while reinforcing the private sector’s rising role in the national economy.

These developments are enhancing Vietnam’s global standing and strengthening the confidence of Vietnamese businesses abroad, she stated, noting that a more transparent, consistent and supportive policy environment is expected to encourage overseas Vietnamese to deepen investment links and contribute more actively to the country’s development.

However, Huong cautioned that the implementation still requires time to ensure consistency and depth across all levels, particularly at the local level. She expressed her hope that the resolution will be carried out more synchronously and effectively in the coming period so that businesses can experience more sustained and tangible improvements.

She emphasised the need to further refine institutions to ensure stability, transparency and predictability, enabling enterprises to pursue long-term strategies. Stronger mechanisms are also needed to help private firms access key resources, especially in emerging areas such as digital transformation, green economy and innovation.

For overseas Vietnamese communities, including those in Laos, Huong called for more connectivity-focused policies to facilitate deeper engagement in investment, technology transfer and market expansion. Effective linkages, flexible support mechanisms and a favourable legal framework will be crucial to attracting external financial and intellectual resources, she added.

Resolution 68 promotes transparent mechanisms for private sector's growth

One year after the Politburo's Resolution No. 68-NQ/TW on the private sector's development was implemented, Vietnamese businesses said clearer institutional guidance, easier access to credit and more transparent governance mechanisms are crucial to helping private enterprises break through.