To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
Vietnam is taking drastic steps to mobilise green capital being a cornerstone in its economic development strategy for the long term, especially in private and agriculture sectors.
To attract more investment, President Prabowo has vowed that his administration would create a conducive and secure investment climate, enabling private companies to participate actively in infrastructure projects nationwide.
The dialogue aimed to promote the effective implementation of the Politburo’s Resolution No. 68-NQ/TW on private economic development, contributing to boosting rapid and sustainable national economic growth.
Support in digital transformation will help to reduce input costs, improve management capacity, and ensure legal compliance for small and household businesses.
Recent efforts show commitment, but achieving this goal will require even bolder reforms - an ‘institutional big push’ - to unlock the private sector’s potential to drive growth and create quality jobs for its people.
To survive and thrive in today’s volatile global economy, businesses must accelerate transformation, enhance competitiveness, diversify export markets, improve transparency, foster collaboration, and leverage the vast potential of the domestic market, heard a forum in Ho Chi Minh City on May 21.
Party General Secretary To Lam's reception for Director of the UNESCO World Heritage Centre Lazare Eloundou Assomo, the Government's issuance of an action plan to implement the Politburo’s Resolution No. 68-NQ/TW on developing the private sector, and the second round of negotiations on a reciprocal trade agreement between Vietnam and the US are among news highlights on May 20.
Ministries, sectors, and localities are asked to boost the enforcement of the Law on Support for SMEs, as well support policies of sectors, to help SMEs improve their capacity, connect with large and FDI firms, and increase investment in priority fields.
The resolution affirms that in a socialist-oriented market economy, the private sector is one of the most important driving forces of the national economy. On that foundation, the upcoming mergence of Binh Duong and Ba Ria–Vung Tau provinces into Ho Chi Minh City will create conditions to form a mega-urban region integrating industry, finance, seaports, and innovation.
With strong political determination, the Party's comprehensive leadership, the entire political system's engagement, and the public's support and efforts, the resolutions will contribute to the country's fast and sustainable development in the new era.
According to the resolution, each enterprise, household business, or individual business must not be inspected more than once a year, except in cases where clear signs of violations are found.
The NA draft resolution on several special mechanisms and policies for creating breakthroughs in law making and enforcement includes regulations on the fund for supporting the development of policies and laws which is proposed to be a non-budget state financial fund.
Beyond regulatory reform, Resolution 68 provides support policies for access to land, capital, and high-quality human resources, while also promoting digital transformation, innovation, sustainable development, and global value chain integration.
The National Assembly (NA)’s Standing Committee on May 14 afternoon deliberated on a draft resolution aimed at unleashing the potential of the private sector, with NA Chairman Tran Thanh Man underscoring the State’s support in legal frameworks, digital transformation, and innovation for the sector’s growth.
Party General Secretary To Lam has recently signed Resolution No. 68-NQ/TW of the Politburo on private sector development. The resolution sets the goal that by 2030, the private sector will become the most important driver of the national economy, taking the lead in science and technology, innovation, and digital transformation.
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.
Malaysia has reached a significant milestone in forest conservation with the launch of the Forest Conservation Certificate (FCC), a non-market mechanism designed to mobilise private sector financing for forest conservation projects nationwide.
Recognising the crucial role of the private sector, the Party and State have implemented robust policies to drive its development, aiming for rapid and sustainable economic growth.
