Chairing the fourth meeting of the National Steering Committee on implementing Politburo Resolution No. 68 on private economic sector development in Hanoi on January 31, PM Chinh said the resolution would serve as a test of governance capacity, reform resolve and the public-service spirit of the political system as Vietnam begins implementing the outcomes of the 14th National Party Congress and the 2026-2030 socio-economic development plan.

According to the Ministry of Finance, eight months after the issuance of Resolution 68, business formation and re-entry into the market increased markedly. From May 2025, an average of around 18,000 new enterprises were established each month, while more than 8,300 resumed operations.

In 2025, more than 297,000 enterprises were newly established or returned to operation, with additional registered capital estimated at nearly VND6.4 quadrillion. By the end of the year, Vietnam had over one million active enterprises.

The Government leader stressed that a transparent, stable and predictable legal environment is essential to restoring confidence and strengthening the competitiveness of private businesses.

He called for continued institutional reform, improved policy implementation and closer coordination between central and local authorities, from policy design to execution.

He also highlighted the need to develop human resources for the private sector, linking business support policies with labour training, entrepreneur development and modern corporate governance.

Ministries and localities were urged to prioritise digitalisation, green transition and more efficient use of resources, while ensuring smoother procedures, better infrastructure connectivity and easier access to capital for businesses.

PM Chinh underscored the importance of assigning major and challenging tasks to capable enterprises, saying this reflects trust in and responsibility towards the business community. He reaffirmed that enterprises should take the lead in innovation, technology development, job creation, social responsibility and public-private cooperation.

With enterprises at the centre, infrastructure as the foundation and institutions as the driving force, he said effective implementation of Resolution 68 would help make the private sector a key engine of the Vietnamese economy.

PM requests no limits to private economic sector development

Innovation and private sector development should have no bounds, aiming to achieve the national goals of prosperity, strength, democracy, equity, and civilised society in this new era, said Prime Minister Pham Minh Chinh.