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| VCCI Deputy Secretary General Dau Anh Tuan__Photo: VGP |
Resolution 68-NQ/TW, issued by the Politburo on May 4, 2025, is an important document aimed at promoting the development of the private economic sector in Vietnam. For the first time, the private sector has been identified as “one of the most important drivers of the national economy,” alongside the state economy and the collective economy, serving as a cornerstone in building an independent, self-reliant, and deeply integrated economy. On this occasion, Việt Nam News and Law conducted an interview with Mr. Dau Anh Tuan, Deputy Secretary General of the Vietnam Chamber of Commerce and Industry (VCCI). The interview explores the implications of this groundbreaking Resolution and the institutional reforms needed to realize its goals for private sector development.
What is your assessment of the significance and importance of Resolution No. 68-NQ/TW for the private economic sector in Vietnam? In your opinion, what are the current institutional barriers that need to be removed to realize the goals set forth in Resolution 68?
Resolution 68-NQ/TW of the Politburo is considered a significant milestone in Vietnam's economic development journey, especially for the private economic sector. For the first time, the private sector is identified as “one of the most important drivers of the national economy.” This not only demonstrates a breakthrough in economic governance thinking but also opens up new development space for the private sector. In addition to setting out strategic directions, Resolution 68 introduces highly practical legal principles, such as “non-criminalization of economic and civil relations” and “service-oriented governance”, to foster a safer, more transparent, and business-friendly investment environment.
However, to realize these ambitious goals, certain institutional barriers must be removed. These include overlaps and inconsistencies in legal regulations; lack of uniform enforcement across authorities of different levels; and, notably, the lingering influence of outdated legal mindsets among some implementing officials. Moreover, the current legal system still contains many provisions that are incompatible with, and obstructive to, the spirit of entrepreneurship and innovation. Rapid and synchronized institutionalization of the contents of the Resolution—including the amendment and supplementation of relevant laws—will be key to unlocking the tremendous potential of Vietnam’s private sector.
Although Resolution 68 focuses on developing the domestic private sector, foreign direct investment (FDI) enterprises may also benefit from certain policies and directions stated in the Resolution. Does VCCI have any recommendations to enhance interaction and linkage between FDI enterprises and domestic private businesses?
Although Resolution 68 primarily focuses on the development of the domestic private sector, FDI enterprises will also benefit from the transparent, stable, and internationally standardized business environment that the Resolution aims to establish. This is an opportunity to strengthen the connection between these two economic sectors, moving toward building a business ecosystem of mutual support and collaboration.
For many years, VCCI has recommended vigorously promoting value chain linkages between FDI enterprises and domestic businesses through the development of mixed industrial zones, joint innovation centers, and annual cooperation forums. At the same time, policies should be adopted to encourage FDI enterprises to use products, services, and labor from domestic companies. Enhancing the competitiveness of private businesses—through technology transfer, human resource training, and the standardization of production processes—will provide the foundation for a sustainable and mutually beneficial relationship between FDI and domestic enterprises.
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| A VinFast automobile manufacturing plant in Hai Phong city__Photo: VNA |
The Resolution emphasizes the creation of a transparent, stable, and internationally standardized business environment to strengthen trust among businesses and the public. This benefits all businesses, including FDI enterprises, in their operations and long-term investment in Vietnam. Does VCCI have any plans to support the business community in realizing Resolution 68?
VCCI considers supporting the business community in effectively implementing Resolution 68 to be a central task in the current period. First and foremost, we are carrying out extensive communication campaigns to disseminate the Resolution’s content, core values, and spirit of reform to each business. Building trust and inspiring the desire for development within the business community is a prerequisite for bringing the Resolution to life.
At the same time, VCCI will coordinate with ministries, sectors, and local authorities to review and recommend amendments to legal provisions that remain problematic; organize training courses and seminars to enhance businesses’ legal knowledge and governance capacity. We also aim to promote the establishment of a two-way policy feedback mechanism—where businesses can report obstacles and propose solutions while also monitoring the effectiveness of new policies.
In particular, VCCI will strengthen its role in connecting FDI and domestic enterprises, promoting technology transfer, sharing experiences, and developing exemplary cooperation models. The ultimate goal is to build a Vietnamese business community that is dynamic, creative, confident in integration, and contributes robustly to the country’s overall development.-
| Overall objective of Resolution 68 To develop the private sector into one of the most important driving forces of the socialist-oriented market economy. * The private sector becomes the most important driver of the national economy. * Vietnam has 2 million active enterprises, equivalent to 20 enterprises per 1,000 people. * There are 20 large private enterprises participating in global value chains. * The private sector records an average growth rate of 10-12% per year, contributing: + 55-58% of GDP, + 35-40% of total state budget revenue, + 84-85% of jobs in the labor market. * Labor productivity in the private sector increases by 8.5–9.5% annually. * Technological capacity, innovation, and digital transformation capabilities rank among: + Top 3 in ASEAN, + Top 5 in Asia. * The private sector develops rapidly, strongly, and sustainably, proactively participating in global production and supply chains. * Private businesses achieve high competitiveness in the regional and international markets. * Vietnam has at least 3 million active enterprises, contributing over 60% of GDP. 1. To renew thinking, awareness, and actions: + Achieving unified understanding of the role of the private sector. + Eliminating prejudices and creating favorable conditions for private sector development. 2. To reform and improve the quality of institutions: + Improving legal and policy frameworks. + Shifting from pre-approval control to post-licensing examination. + Ensuring freedom of business in areas not prohibited by law. 3. To enhance access to resources: + Ensuring equal access to land, finance, information, and markets. 4. To promote science, technology, innovation, and digital transformation: + Supporting private enterprises in technology adoption and competitiveness improvement. 5. To strengthen business connectivity: + Encouraging cooperation and linkage among enterprises; develop domestic value chains. 6. To develop large private enterprises: + Supporting the formation of strong private economic conglomerates with international competitiveness. 7. To support micro, small enterprises and household businesses: + Providing favorable conditions in finance, law, and training for these entities to grow and formalize. 8. To promote the role of entrepreneurs: + Building a team of entrepreneurs with ethics, competence, and vision. + Recognizing, encouraging, and fostering entrepreneurial spirit. |
(VLLF)
