Prime Minister: Build a mechanism to assign major tasks to private enterprises

At the meeting of the National Steering Committee to implement Resolution 68 on private economic development on January 31, Prime Minister Pham Minh Chinh affirmed that businesses are the center, infrastructure is the foundation, and institutions are the driving force for the private economy to develop breakthroughs in the coming years.

Accordingly, executives need to build a mechanism for assigning tasks, big tasks, difficult tasks, and breakthroughs to businesses. This shows trust, the spirit of creation, concern, and responsibility for businesses, according to the Prime Minister. He assigned relevant ministries and branches to review regulations related to private economic sector activities and propose tasks and solutions to institutionalize the policy.

The Prime Minister also requested to soon submit the Go Global project to reach the international market in February, connecting businesses to participate in the global supply chain. He believes that large businesses participate in a leading role and support smaller businesses to develop together.

In addition, according to Government leaders, executives need to firmly grasp the situation related to businesses and entrepreneurs, both in terms of difficulties and advantages in order to have timely and effective policy responses. Agencies and units need to promote the role of leaders, combining the strength of the state and private sector, domestic and foreign strengths for development.

He noted that the state implements “5 practices”, including: open institutions and procedures; Synchronous and smooth infrastructure; people and smart management; unlock resources; and solve business problems. On the contrary, businesses need the “5 pioneers” in innovation, building institutions and culture, and at the same time contributing and mobilizing all resources to develop the country.

According to Resolution 68, Vietnam strives to have 2 million operating businesses by 2030. The private economic sector grows on average 10-12% a year, higher than the GDP growth rate. By 2030, Vietnam will have at least 20 large enterprises participating in the global value chain.

At the meeting, many opinions assessed that Resolution 68’s impact on the development of the business community was increasingly clear. The number of businesses entering and re-entering the market grew strongly, reaching an average of more than 26,000 businesses per month.

For the whole year 2025, nearly 297,500 businesses will be registered for new establishment and return to operation – a record level, an increase of nearly 27.4% compared to 2024. The total registered capital of enterprises in the private economic sector is nearly 6.4 million billion VND, an increase of 77.8%. By the end of 2025, the country will have more than 1 million operating businesses.

The investment and business environment has improved significantly, but private enterprises still face many barriers that need to be promptly removed. Meanwhile, administrative procedures in some areas are still complicated and unofficial costs still exist. Access to production resources such as credit capital and land for small and medium-sized enterprises and business households is still difficult. The competitiveness, technology, and management capacity of most domestic private enterprises are still limited, not enough to participate in high value chains.