Resolution 138/NQ-CP 2025 promulgating Plan to implement Resolution 68-NQ/TW on private economy development

RESOLUTION

Promulgating the Government’s Plan of Action to implement the Political Bureau’s Resolution No. 68-NQ/TW of May 4, 2025, on private economy development^[1]

THE GOVERNMENT

Pursuant to the February 18, 2025 Law on Organization of the Government;

Pursuant to the Political Bureau’s Resolution No. 68-NQ/TW of May 4, 2025, on private economy development;

Pursuant to the Government’s Decree No. 39/2022/ND-CP of June 18, 2022, promulgating the Working Regulation of the Government;

At the proposal of the Minister of Finance;

Based on voting results of the Government members,

RESOLVES:

Article 1. To promulgate together with this Resolution the Government’s Plan of Action to implement the Political Bureau’s Resolution No. 68-NQ/TW of May 4, 2025, on private economy development (below referred to as the Plan of Action).

Article 2. This Resolution takes effect on the date of its signing.

Article 3. Ministers, heads of ministerial-level agencies, heads of government-attached agencies, chairpersons of provincial-level People’s Committees, and related agencies, organizations and individuals shall implement this Resolution.-

On behalf of the Government
Prime Minister
PHAM MINH CHINH

THE GOVERNMENT’S PLAN OF ACTION TO IMPLEMENT THE POLITICAL BUREAU’S RESOLUTION No. 68-NQ/TW OF MAY 4, 2025, ON PRIVATE ECONOMY DEVELOPMENT

(Promulgated together with the Government’s Resolution No. 138/NQ-CP
of May 16, 2025)

I. OBJECTIVES

1. To institutionalize and fully, synchronously and consistently implement the viewpoints, objectives, tasks and solutions set out in the Political Bureau’s Resolution No. 68-NQ/TW of May 4, 2025, on private economy development (below referred to as Resolution No. 68-NQ/TW).

2. To clearly define specific tasks for use as a basis for ministries, sectors and localities to formulate their own plans of action and organize the implementation, inspection, supervision and evaluation of the implementation of the Resolution in order to ensure the realization of the objective that the private economy becomes one of the most important driving forces of the national economy.

II. SPECIFIC TASKS

In order to achieve the objectives set out in Resolution No. 68-NQ/TW, in the coming time, in addition to regular tasks, ministries, sectors and localities have to concretize, and drastically organize the performance of, the following tasks:

1. Changing the mindset, obtaining a high unanimity in perception and action, and arousing national confidence and aspirations, thereby creating a new momentum for private economy development

a/ Ministries, sectors, localities, and business and trade associations shall:

- Formulate, and organize the implementation of, programs on regular, intensive and extensive communication about the contents of Resolution No. 68-NQ/TW and the position and role of the private economy toward diversifying forms and methods of communication; and concretizing communication contents for each target group.

- Formulate programs on thematic communication about private economy development on television, radio, social networks and newswires in order to arouse the entrepreneurship and startup spirit, thereby promoting the vigorous development of the private economy.

b/ Ministries, sectors and localities shall:

Formulate their plans on implementation of the Plan of Action with specifically quantifiable objectives; assign heads of agencies and units to urge all of their civil servants, public employees and workers to thoroughly change their mindset, perception and action, fairly and equally treat the private economy, and forge an open, friendly, accompanying and transparent relationship between the administrations and enterprises with a view to facilitating the development.

c/ The Ministry of Culture, Sports and Tourism shall:

- Direct media and press agencies in improving the quality and efficiency of the public communication work; provide objective, truthful and adequate information on the private economy; promote and spread good, creative and efficient models and practices, and stimulate the spirit of entrepreneurship in the entire society.

- Strictly and publicly handle acts of causing harassment to, taking negative practices against, and providing misleading and inaccurate information about, enterprises, business households, business individuals and entrepreneurs.

2. Stepping up the reform, completion and improvement of the quality of institutions and policies, guaranteeing and effectively protecting ownership rights, property rights, the right to freedom of enterprise, and the right to fair competition, and securing the performance of contracts in the private economy

(1) Stepping up the reform, completion and improvement of the quality of institutions and policies

a/ Ministries, sectors and localities shall:

- Urge their civil servants, public employees and workers to radically shift their administrative service style from control to companionship, regarding enterprises as object of “service” instead of object of “management”, adhering to the principle that “words and actions go hand in hand”, ensuring the unity in the entire political system; forbid the abuse of administrative decisions, the “ask-and-give” mechanism, sectoral and local protectionism in the formulation and implementation of policies and laws; and ensure the consistency in the course of policy implementation between the central government and local administrations, between ministries and sectors, and among localities.

- Formulate and implement policies and laws in a fair and transparent manner under the market mechanism, without practicing discrimination between sole proprietorships, state enterprises and FDI enterprises in the mobilization, allocation and use of capital, land, natural resource, property, technology, human resource and data resources and other natural resources.

- Formulate and implement plans on review of legal documents within the sectors, fields and geographical areas under their management for handling according to their competence or report such to competent authorities for handling in order to eliminate unnecessary business conditions and overlapping and inappropriate regulations that are likely to hinder the development of enterprises and business households.

- Thoroughly apply digital transformation in order to minimize the time for processing administrative procedures, compliance costs and business conditions as specified in regulations on entry into and withdrawal from the market, land, planning, investment, construction, tax, customs, insurance, intellectual property, standards, technical regulations, etc.; organize the provision of public services for enterprises and business households regardless of administrative boundaries. In 2025 and 2026, ensure the achievement of the objectives and roadmap specified in the Government’s Resolution No. 66/NQ-CP of March 26, 2025, on the Program on reduction and simplification of administrative procedures related to production and business activities in 2025 and 2026.

- Ministries and sectors shall formulate and implement plans on review of business investment conditions for modification or propose them to competent authorities for modification in order to shift all business conditions, licenses and certificates to the modes of announcement and post-licensing inspection, except several fields in which licensing procedures are mandatory in accordance with regulations and international practices.

- Develop separate columns/sections on their websites and portals to receive and promptly resolve problems and process reports and proposals of the people, enterprises and business households.

- Review policies and programs on support for enterprises for revision or propose them to competent authorities for revision toward: (i) simplifying dossiers, processes and procedures for support provision; (ii) increasing support norms and levels to suit the market reality; (iii) ensuring the allocation of sufficient resources as support; and (iv) encouraging associations, research institutes, universities, etc., to participate in the implementation of support programs.

- Include plans on private economy development in annual and 5-year socio-economic development plans of ministries, sectors and localities; proactively allocate and include funds, or synthesize funding needs and propose competent authorities to allocate funds as support for the private economy.

b/ The Ministry of Finance shall:

- Assume the prime responsibility for, and coordinate with line ministries in, reviewing the list of conditional business investment lines specified in the Law on Investment in order to study and reduce unnecessary business conditions.

- Review and revise the Law on Support for Small- and Medium-Sized Enterprises in order to: (i) simplify dossiers and procedures for support provision; (ii) increase support norms and levels to suit the market reality; (iii) ensure the allocation of sufficient resources as support; and (iv) encourage associations, research institutes, universities, etc., to participate in the implementation of support programs.

- Review and revise the Bidding Law and guiding documents in order to add provisions on priority for small- and medium-sized enterprises and innovative startups to participate in public procurement programs, plans and projects.

- Review and revise the Law on Corporate Income Tax and guiding documents in order to add provisions on corporate income tax exemption for small- and medium-sized enterprises for the first 3 years after their establishment.

- Review and revise the Law on Charges and Fees and guiding documents in order to abolish the license fee.

- Review the Statistics Law and guiding documents in order to standardize statistical indicators and data for comprehensively and accurately reflecting the private economy, small- and medium-sized enterprises and business households in order to facilitate the assessment and formulation of policies and strategies for the development of this sector.

- Expeditiously finalize the draft Decree on the regulatory sandbox for circular economy development.

- Drastically implement the Government’s Decree No. 70/2025/ND-CP of March 20, 2025, amending and supplementing a number of articles of the Government’s Decree No. 123/2020/ND-CP of October 19, 2020, providing invoices and documents, ensuring that as of June 1, 2025, business households and business individuals (earning an annual turnover of VND 1 billion or more) and enterprises engaged in sale of goods or provision of services (including sale of goods or provision of services directly to consumers) will thoroughly shift to using e-invoices generated from cash registers.

- Develop a database on the private economy to serve the assessment and formulation of development policies and strategies as appropriate for each period; formulate an appropriate mechanism for sharing data systems for agencies and organizations to research and provide policy advice and criticism.

- Guide the implementation of electronic investment licensing procedures, thereby shortening the time for procedure settlement result notification.

c/ The Ministry of Industry and Trade shall:

- Step up the implementation of the Law on Competition and guiding documents in order to ensure a fair, equal and transparent competitive environment for economic sectors; strictly handle acts of abusing the dominant position, monopoly and unfair competition; improve the operational effectiveness and efficiency of the Vietnam Competition Commission.

- Review and revise the Government’s Decree No. 75/2019/ND-CP of September 26, 2019, on sanctioning of administrative violations in the field of competition, in order to: (i) strictly handle acts of violating the competition law, particularly acts concerning privileges or monopolistic practices; (ii) apply mechanisms and sanctions to ensure fair, equal and transparent competition among economic sectors.

- Review and evaluate the Scheme on domestic market development in association with the Campaign “Vietnamese people prioritize using Vietnamese goods” in the 2021-2025 period; formulate and submit to the Prime Minister for promulgation the Scheme on domestic market development in the subsequent period, focusing on: (i) prioritizing the development of diverse distribution channels, strongly developing digital and e-commerce platforms that are harmonized and integrated with traditional distribution channels; (ii) supporting the development of large private retail groups; (iii) promoting the role of science and technology in digital transformation, green transition and innovation for optimizing and sustainably developing the domestic supply chain; and (iv) promoting the efficient combination of trade, culture and tourism in order to expand the domestic consumption market.

- Review and evaluate the National Trade Promotion Program and propose amendments and supplementations thereto in order to: (i) comprehensively upgrade and renovate its contents and implementation methods; (ii) simplify dossiers and procedures for support provision; and (iii) increase support norms and levels to suit the market reality; step up the implementation of the Vietnam National Branding Program.

- Monitor, urge and promote the implementation of the concluded free trade agreements (FTAs); intensify training, dissemination of information, and provision of support for enterprises, business households and business individuals to grasp and take advantage of these FTAs, promptly give early warnings to enterprises, business households and business individuals about trade remedies taken by partner countries; actively provide advices on negotiation and conclusion of new FTAs and upgrading of concluded FTAs with potential partners in Africa, South Asia, West Asia and South America, etc., thereby supporting enterprises to strongly shift to official-quota exports associated with branding, and promoting sustainable export.

d/ The Ministry of Home Affairs shall:

Review and finalize the Law on Cadres and Civil Servants and guiding documents in order to: (i) define specific responsibilities of civil servants and heads for settling administrative procedures; (ii) add sanctions for strictly handling acts of cadres and civil servants committing corruption, seeking personal gain and causing harassment; (iii) add a mechanism for liability exemption for cadres and civil servants who have fully implemented the procedures and regulations and taken no self-seeking acts in the process of duty performance but have suffered damage caused by objective risks; and (iv) provide additional guidance on the civil-service responsibility of heads of Party Committees and local administrations at all levels for providing support for enterprises in association with the emulation and commendation work.

dd/ The Ministry of Public Security shall:

- Finalize the draft Decree providing scientific, technological and innovation activities and data-related products and services.

- Finalize the draft Decree guiding the Law on Data in order to create favorable conditions for enterprises, business households and business individuals to connect, share and exploit data in a secure and safe manner.

- Review, revise or formulate legal documents to improve the effectiveness of the prevention and combat of hi-tech crimes, fraud, and property appropriation, and to protect safety of e-transactions.

- Intensify the provision of support for enterprises, business households and business individuals in verifying and preventing security risks (trade frauds, appropriation of property through swindling, tax evasion, etc.).

- Guide enterprises and business households in working out their fire protection plans, and ensuring occupational safety in the course of operation; create favorable conditions for enterprises and business households to exploit digital information and databases serving their production and business activities.

- Intensify the public communication about, detect and handle, trade fraud and unfair competition acts in cyberspace in order to protect the image and reputation of enterprises, business households and business individuals.

e/ The Ministry of Science and Technology shall:

- Finalize the draft Law on Digital Technology Industry and the draft Law on Science, Technology and Innovation in order to add provisions on the regulatory sandbox for new technologies, products, services and business models.

- Finalize the draft Decree providing a number of provisions on innovation and innovative startups.

g/ The Ministry of Justice shall:

- Review and revise the Law on Handling of Administrative Violations and guiding documents in order to: (i) have sanctions for strictly handling acts of unfair competition, and policy manipulation and profiteering; and (ii) strictly handle enterprises, business households and business individuals for their failure to use e-invoices or invoices generated from cash registers.

- Study formulating an interdisciplinary legal support program to provide support for small- and medium-sized enterprises and business households in the 2026-2031 period.

- Strictly control the ultra vires stipulation of business conditions in the course of appraisal of legal documents.

- Study consolidating units in charge of provision of legal support for enterprises toward forming legal support centers for enterprises in order to tackle legal difficulties and obstacles and settle legal disputes at home and abroad.

- Coordinate with the Supreme People’s Court and the Supreme People’s Procuracy in revising the Bankruptcy Law in order to shorten the time for dealing with legal procedures, expanding the scope of application of fast-track bankruptcy procedures, intensifying the application of litigation procedures on electronic platforms, and reforming the property disposal mechanism.

h/ Local administrations shall:

Allocate resources and direct specialized agencies in practicing electronic investment licensing procedures, thereby shortening the time for procedure settlement result notification.

(2) Guaranteeing and effectively protecting ownership rights, the right to freedom of enterprise, property rights, and the right to fair competition, and secure contract performance in the private economy

a/ Ministries, sectors and local administrations shall:

- Direct their attached agencies, units and enterprises in urgently reviewing and resolutely making payments for contracts with outstanding debts, putting an end to the situation of appropriation of capital of enterprises and business households.

- Review and classify objects of examination; put an end to the situation of overlapping, repeated and prolonged examination of the same matter or in the same field; ensure that the frequency of examinations, including also interdisciplinary examinations, at an enterprise or a business household or for a business individual, must not exceed once a year, unless an unscheduled examination is required upon the detection of obvious signs of violation; publicize examination plans on their portals for the business community and business households to coordinate in the implementation thereof; intensify online and remote examination activities; prioritize examination based on electronic data and minimize direct examination; strictly handle acts of abusing examination to cause harassment and difficulties for enterprises and business households.

- Formulate and announce on their websites or portals the tools and solutions to give early warnings to enterprises and business households about risks of law violations on the basis of integrating management and warning data from state management agencies.

- Direct agencies and units in drastically fighting counterfeit goods, imitate goods, smuggled goods and pirated goods in order to protect the lawful rights and interests of legally operating enterprises and business households.

b/ The Ministry of Industry and Trade shall:

Review and complete the Commercial Law and guiding documents concerning the settlement of disputes in the field of trade and commerce toward (i) shortening the time for settling contractual disputes, enhancing transparency and efficiency; and (ii) adding a mechanism for strictly handling acts of delaying the performance of the contract payment obligation.

c/ The Ministry of Justice shall:

- Coordinate with agencies in amending and supplementing the Civil Procedure Code and the Law on Commercial Arbitration and guiding documents concerning the field of trade and commerce toward (i) shortening the time for settling contractual disputes and trade disputes, especially those in international trade, in order to ensure promptness, fairness, objectivity and equality; (ii) adding a mechanism for strictly handling acts of delaying the performance of the contract payment obligation; and (iii) effectively protecting the ownership rights over tangible and intangible assets of enterprises, business households and business individuals, thereby minimizing legal risks.

- Review and complete the Law on Handling of Administrative Violations and documents guiding the additional application of strict sanctions for intellectual property infringements and intellectual property piracy and violations in cyberspace.

d/ The Ministry of Science and Technology shall:

- Improve the law on intellectual property, adding sanctions to strictly handle intellectual property infringements, intellectual property piracy and violations in cyberspace.

- Upgrade its information technology system to facilitate the full-process online performance of procedures for establishing industrial property rights, minimizing the time for carrying out procedures to apply for the grant of intellectual property rights, ensuring conformity with international practices; and allocate sufficient resources and improve the financial mechanism applicable to state management agencies in charge of intellectual property.

dd/ The Ministry of Finance shall:

Review and revise the Law on Support for Small- and Medium-Sized Enterprises, add policies to subsidize costs of valuation and protection of intellectual property rights in the country; and support and encourage small- and medium-sized enterprises to register intellectual property rights abroad and at international organizations.

e/ The Government Inspectorate of Vietnam shall:

- Review and revise the Law on Inspection, adding legal grounds for electronic and online inspection activities.

- Review and classify objects of inspection; put an end to the situation of overlapping, repeated and prolonged inspections of the same matter or in the same field; ensure that the frequency of scheduled inspections must not exceed once a year for each enterprise or business household, unless an unscheduled inspection is required upon the detection of signs of law violation; publicize inspection plans on its portal for the business community and business households to coordinate in the implementation thereof; intensify online and remote inspection activities; prioritize inspections based on electronic data and reduce direct inspections; and strictly handle acts of abusing inspection to cause harassment or difficulties for enterprises and business households.

(3) Adhering to the principle of clearly separating criminal liability from administrative and civil liability and distinguishing legal persons from individuals in the handling of violations

The Ministry of Public Security shall review and revise the Penal Code and the Criminal Procedure Code, closely coordinate with the system of courts and procuracies at all levels in directing their attached units in thoroughly grasping guidelines in the course of conducting investigation and handling violations in order to adhere to the principle of clearly separating criminal liability from administrative and civil liability and distinguishing legal persons from individuals in the handling of violations under Point 2.3, Clause 2, Section II of Resolution No. 68-NQ/TW.

3. Creating favorable conditions for the private economy to access land, capital and high-quality human resources

(1) Providing more opportunities for the private economy to access land and production or business premises

a/ The Ministry of Agriculture and Environment shall:

- Review and revise the Land Law and guiding documents, adding mechanisms and policies for: (i) controlling fluctuations in land prices, particularly prices of land for production, business and non-agricultural activities; (ii) assigning localities to reserve land areas for building infrastructure facilities of industrial parks, cottage industry zones and technology incubators for lease to hi-tech enterprises, small- and medium-sized enterprises, and innovative startups; and adopting land rental support policies for the above subjects.

- Complete the development of the National Land Database and connect it with the National Data Center and relevant databases; and promulgate regulations on management, operation and exploitation of the National Land Database.

b/ The Ministry of Finance shall:

- Review and revise the Government’s Decree No. 35/2022/ND-CP of May 28, 2022, on the management of industrial parks and economic zones, adding mechanisms and policies for assigning localities to reserve at least 20 hectares of land per industrial park or 5% of the total land area with built industrial park infrastructure facilities for lease to hi-tech enterprises, small- and medium-sized enterprises and innovative startups.

- Review and revise the Government’s Decree No. 108/2024/ND-CP of August 23, 2024, on the management, use and exploitation of non-residential houses and land areas being public assets for assignment to local organizations having the function of housing management and trading for management and exploitation, in order to supplement the mechanism of cost exemption or reduction for small- and medium-sized enterprises, supporting industry enterprises and innovative enterprises that rent houses and land areas being public assets not yet used or left unused in localities.

- Review projects nationwide that encounter problems relating to the performance of procedures or delayed implementation, then report such to competent authorities for working out solutions and urgently putting them into operation in order to exploit wasted land resources, unused public land areas and working offices, and land areas involved in unsettled disputes or cases.

c/ The Ministry of Industry and Trade shall review and revise the Government’s Decree No. 32/2024/ND-CP of March 15, 2024, on the management and development of cottage industry zones, in order to add mechanisms and policies for assigning localities to reserve at least 20 hectares of land per cottage industry zone or 5% of the total land area with built cottage industry zone infrastructure facilities for lease to hi-tech enterprises, small- and medium-sized enterprises and innovative startups.

d/ Local administrations shall:

- Promptly publicize land use master plans and plans in their localities; and actively coordinate with political and social organizations in providing support for enterprises in the work of ground clearance.

- Thoroughly apply digital transformation in order to provide full-process online public services for carrying out land-related administrative procedures, thereby shortening by at least 30% the time for settling land lease procedures and granting land use rights certificates to people and enterprises.

- Expeditiously review and reach agreement with the Ministry of Finance on the handling of houses and land areas being public assets not yet used or left unused in their localities for lease to small- and medium-sized enterprises, supporting industry enterprises and innovative enterprises to serve their production or business operations.

dd/ Ministries and sectors shall expeditiously review and reach agreement with the Ministry of Finance on plans on handling of houses and land areas under their management that are public assets not yet used or left unused for handover to localities for lease to small- and medium-sized enterprises, supporting industry enterprises and innovative enterprises to serve their production or business operations.

(2) Intensifying the mobilization of, and diversifying, capital sources for the private economy

a/ The State Bank of Vietnam shall:

- Review and revise the State Bank’s Circular No. 26/2024/TT-NHNN of June 28, 2024, on financial leasing activities, through lengthening the list of assets for lease to include software, exploitation rights, intellectual assets, and data.

- Direct commercial banks to: (i) prioritize providing loans to sole proprietorships, particularly small- and medium-sized enterprises, supporting industry enterprises and innovative startups, for investment in machinery, equipment, new technologies, green transition, digital transformation, export credit, and supply chain-based credit; (ii) encourage credit institutions to reduce interest rates for loans provided to sole proprietorships to implement green and circular projects and apply the environmental, social and governance (ESG) standards framework; and (iii) improve internal regulations and promote providing loans based on production and business plans and outlet expansion plans; providing loans based on value chains and supply chains; providing loans based on payment data and cash flow; and providing loans based on collateral such as movable assets, intangible assets and future assets in accordance with law.

- Intensify the application of the mechanism for information sharing between the banking and tax systems and related agencies in order to ensure the consistency of data on operation and financial status of enterprises and business households in order to increase providing loans to these subjects.

- Closely supervise operation of credit institutions and credit extension activities; and strictly control lending activities to serve the internal ecosystem.

b/ The Ministry of Finance shall:

- Review and revise the Law on Support for Small- and Medium-Sized Enterprises, the Government’s Decree No. 34/2018/ND-CP of March 8, 2018, on the establishment, organization and operation of the credit guarantee funds for small- and medium-sized enterprises toward: (i) renewing the organizational model, improving the operational efficiency, accepting risks due to objective conditions and force majeure events in guarantee activities, and performing management by objectives; (ii) setting reasonable levels of deductions for the financial provision funds; (iii) relaxing guarantee conditions compared to bank loan borrowing conditions; (iv) adopting a mechanism for adding resources for the funds from large-sized enterprises and financial institutions; and (v) formulating a reasonable re-guarantee policy to ensure the system safety.

- Study and propose a mechanism for establishing the Central Credit Re-guarantee Fund to perform the function of providing re-guarantee for local credit guarantee funds.

- Study and propose a pilot mechanism for establishing a crowdfunding exchange to directly connect small- and medium-sized enterprises, business households and business individuals with individual and institutional donors.

- Review and revise the Law on Support for Small- and Medium-Sized Enterprises, the Government’s Decree No. 39/2019/ND-CP of May 10, 2019, on the organization and operation of the Small and Medium Enterprise Development Fund, and the Government’s Decree No. 45/2024/ND-CP of April 26, 2024, amending and supplementing Decree No. 39/2019/ND-CP toward: (i) increasing objects eligible for support; (ii) simplifying conditions, processes and procedures for receiving and appraising dossiers, and providing and disbursing loans; (iii) adding the function of investing in local investment funds and private investment funds in order to increase funding sources for small- and medium-sized enterprises and innovative startups; (iv) providing seed capital for startup projects and startup loans; (v) building incubators and providing startup support; (vi) diversifying the Fund’s capital sources from contributions of enterprises, organizations and individuals at home and abroad; (vii) studying and proposing the model of co-financing by central, local and private funds and financial and credit institutions in order to share risks and increase incentives for loans for small- and medium-sized enterprises.

- Review, amend and supplement regulations on operation of non-depository institutions in order to diversify credit supply sources for enterprises, particularly small- and medium-sized enterprises.

- Implement the Strategy for development of the securities market through 2030, focusing on synchronous development of market components, development of institutional investors and intermediary institutions, and application of modern technologies to the whole market, enhancing market management, surveillance and transparency.

- Review and complete regulations on corporate bonds in the domestic market and offer corporate bonds to the international market in order to improve the quality and increase stable capital mobilization channels for the private economy.

- Study and propose a legal framework for the securitization of debts.

c/ The Ministry of Agriculture and Environment shall:

- Review and revise the Law on Environmental Protection, adding the policy on the State’s provision of interest rate support for enterprises’ loans for implementation of green and circular projects, and apply the ESG standards framework.

- Review and submit to the Prime Minister for promulgation a Decision guiding the identification of green projects and circular projects and apply the ESG standards framework.

d/ Ministries, sectors and localities shall step up the implementation of the Law on Support for Small- and Medium-Sized Enterprises, and sectoral support programs for enterprises, business households and business individuals, focusing on activities of improving the governance capacity, building a transparent financial system, and standardizing accounting and auditing regimes, etc., in order to increase access to financial resources.

(3) Improving the quality of human resources for the private economy

a/ The Ministry of Education and Training shall:

- Review and add methods of assessment and recognition of corporate participatory graduation from high-quality training programs mentioned in legal documents on enrollment and training, and vocational training.

- Review framework training programs at all training levels in order to add contents on training in creative, STEM, foreign language and digital skills to meet requirements of high-quality human resources for scientific and technological development, innovation, and startup activities; and add a mechanism for human resource training based on order placement of enterprises and business households.

- Encourage education and training institutions and vocational training institutions to cooperate with one another and develop joint training programs with foreign partners; and receive and multiply advanced training programs in order to improve the quality of human resources for enterprises.

b/ The Ministry of Finance shall:

Formulate and implement a program on training and further training of 10,000 executive officers for the private economy ^[2].

c/ Localities and business associations shall:

- Proactively mobilize lawful resources to implement training programs, and share information and experience in order to develop human resources for enterprises and business households in conformity with local socio-economic development orientations.

- Proactively mobilize, integrate and allocate resources for the implementation of programs on training and further training of executive officers in localities; and mobilize successful entrepreneurs to participate in training, sharing of experience, inspiring, and providing practical and efficient support for students.

4. Promoting science and technology, innovation, digital transformation, green transition, and efficient and sustainable business in the private economy

a/ The Ministry of Science and Technology shall:

Finalize the draft Law on Science, Technology and Innovation, adding provisions that: (i) enterprises may deduct up to 20% of their income amounts used for corporate income tax calculation for setting up the fund for the development of science, technology, innovation, digital transformation and research and development; enterprises may use this fund to carry out by themselves research and development activities or place orders for research and development activities under the contract-based mechanism; (ii) enterprises may include costs for research and development activities which are equal to 200% of expenses actually paid for such activities in expenses deductible for determination of taxable income amounts upon the calculation of corporate income tax; (iii) mechanisms and policies shall be adopted to subsidize expenses for enterprises’ and private organizations’ use of the State’s laboratories, design support rooms, shared research equipment, and testing, measurement, inspection and assessment centers for product development;

b/ The Ministry of Finance shall:

- Review, and propose amendments to, the Law on Personal Income Tax, adding provisions on: (i) personal income tax exemption for income amounts from the transfer of shares, capital contributions, and the right to contribute capital to innovative startups; and (ii) personal income tax exemption or reduction for experts and scientists working at innovative startups, research and development centers, and intermediary organizations providing support for innovative startups.

- Revise the Law on Support for Small- and Medium-Sized Enterprises, adding provisions on: (i) corporate income tax exemption or reduction for innovative startups, venture investment fund management companies, and intermediary organizations providing support for startup and innovation activities as soon as payable corporate income tax amounts arise; (ii) personal income tax or corporate income tax exemption for individuals and organizations for their income amounts from the transfer of shares, capital contributions and the right to contribute capital to innovative startups; (iii) personal income tax exemption or reduction for experts and scientists working at innovative startups, research and development centers, innovation centers and intermediary organizations providing support for innovative startups; and (iv) subsidization of expenses for enterprises’ machinery procurement, technological renovation, digital transformation, green transition, and sustainable and circular business operations through the deduction of corporate income tax or through funds.

c/ Local administrations shall:

Base themselves on practical conditions and needs of their localities to allocate resources for investment in and development of innovation centers for incubation, development and transfer of technologies, and testing of new and special policies to support enterprises, business households and business individuals in innovation and startup activities.

5. Strengthening connections among sole proprietorships and between sole proprietorships and state enterprises and FDI enterprises

a/ The Ministry of Finance shall:

- Review and revise the Law on Investment, and the Prime Minister’s Decision No. 29/2021/QD-TTg of October 6, 2021, providing special investment incentives, and guiding documents in order to add: (i) preferential policies for large-sized enterprises that take the lead in the domestic supply chains, commit to transferring technologies, support product testing, provide technical assistance, knowledge and human resource training for, and use products and services of, small- and medium-sized enterprises; (ii) policies to promote the localization through the development of links between FDI enterprises and domestic enterprises; (iii) provisions on the application of appropriate localization rates according to the set roadmap in priority-eligible foundation and spearhead industries; and (iv) provisions requiring large-sized FDI projects to adopt plans on use of the domestic supply chains right from the stage of project approval.

- Review and revise the Law on Support for Small- and Medium-Sized Enterprises, adding policies to: (i) support enterprises to obtain certificates and certifications of satisfaction of industry standards as required by export markets, enterprises leading the value chain, and FDI enterprises; (ii) provide consultancy and trade promotion services for connecting FDI enterprises with domestic enterprises in industrial parks, key economic zones, and free trade zones; (iii) provide startup support for managers and technicians who have worked at FDI enterprises in order to take advantage of their experience, knowledge and management models for participation in the supply chains; and (iv) allow large-sized enterprises to include expenses for training and retraining of human resources for small- and medium-sized enterprises participating in the supply chains in expenses deductible for determination of taxable income amounts, upon the calculation of corporate income tax.

- Review and revise the Law on Corporate Income Tax in order to add provisions allowing large-sized enterprises to include expenses for training and retraining of human resources for small- and medium-sized enterprises participating in the supply chains in expenses deductible for determination of taxable income amounts upon the calculation of corporate income tax.

b/ The State Bank shall direct financial and credit institutions to increase financing for enterprises and business households in the value chains and supply chains.

c/ Ministries, sectors and localities shall:

- Step up the implementation of the Law on Support for Small- and Medium-Sized Enterprises and policies of sectors and fields to support small- and medium-sized enterprises in improving their capacity to connect with large-sized enterprises and FDI enterprises.

- Promote investment in priority, spearhead and foundation sectors and fields; actively negotiate with owners of large-sized FDI projects so as to work out plans to use the domestic supply chains right from the stage of project approval; and encourage large-sized enterprises and enterprises leading the value chains to actively participate in supply chain-based credit extension programs in the fields and geographical areas under their management.

6. Quickly forming and developing medium- and large-sized enterprises and private economic groups of regional and global scale

a/ The Ministry of Finance shall:

- Review and revise the Bidding Law and guiding documents, adding provisions on order placement, restricted bidding or contractor appointment or adopting preferential policies to encourage the private economic sector to join the State in strategic fields, and key scientific research projects and tasks of national importance (such as high-speed railways, urban railways, spearhead industries, energy infrastructure, digital infrastructure, green transportation, defense industry, security, etc.), and other urgent tasks.

- Review and revise the Law on Investment in the Form of Public-Private Partnership and guiding documents in order to diversify, and raise the efficiency of, forms of cooperation between the State and the private economic sector through public-private partnership (PPP), public leadership-private governance, public investment-private management, and private investment-public use models in the fields of economic infrastructure, socio-cultural infrastructure, and information and communication technology.

- Formulate and implement the Program on development of 1,000 typical and pioneering enterprises in science and technology, innovation, digital transformation, green transition, hi-tech industries and supporting industries.

b/ The Ministry of Industry and Trade shall:

Formulate and implement the Go Global Program on the basis of reviewing and integrating current or expected enterprise support programs of the sector, focusing on solutions to provide support in terms of market, branding, distribution channel, logistics, insurance, consultancy, legal affairs, resolution of trade and commercial disputes, merger and acquisition, connection with multinational corporations, etc.

c/ The Ministry of Foreign Affairs shall:

- Promote economic diplomacy, attaching importance to political-diplomatic advocacy measures to create the most favorable environment for Vietnamese enterprises abroad, supporting the connection of international resources, particularly in capital, technology, governance experience, partner appraisal, and dispute resolution.

- Coordinate with the Ministry of Industry and Trade in implementing the Go Global Program through promoting the network of Vietnamese representative missions abroad, focusing on measures to expand the market, build brands, carry out technology diplomacy, and connect leading international corporations.

d/ Ministries, sectors and localities shall:

Allocate, mobilize and integrate resources, participate in the implementation of the Program to develop 1,000 typical and pioneering enterprises, and the Go Global Program in the fields and geographical areas under their management.

7. Providing substantive and effective support for small- and micro-sized enterprises and business households

a/ The Ministry of Finance shall:

- Study and improve the legal framework on individual business activities through: (i) providing governance models, financial and accounting regimes, etc.; (ii) adopting a policy to provide free digital platforms, shared-use accounting software, legal counseling services, and training in corporate governance, accounting, tax, human resources and law for business households and business individuals.

- Review and revise provisions on financial, accounting, tax and insurance regimes for micro-sized enterprises to be simple and easy to comply and easy to implement, without giving rise to accounting and administrative personnel in order to encourage business households to switch to operating as enterprises.

- Review and revise the Law on Tax Administration in order to abolish the form of presumptive tax for business households.

- Revise the Law on Support for Small- and Medium-Sized Enterprises, adding the policy on free-of-charge provision of digital platforms, shared-use accounting software, legal counseling services, and training in corporate governance, accounting, tax, human resources and law for small- and micro-sized enterprises.

b/ The State Bank of Vietnam shall:

Review and assess the implementation of the National Financial Inclusion Strategy through 2025, with orientations toward 2030; propose amendments and supplementations to, and step up the implementation of, the Strategy in the next period; focus on supporting access to and use of financial products for owners of enterprises and business households who are young people, women, disadvantaged people, ethnic minority people, and inhabitants in mountainous and border areas or on islands, and inclusive business models, thereby creating social impacts.

8. Upholding business ethics, bringing into full play the social responsibility, strongly promoting the spirit of entrepreneurship, and creating all favorable conditions for entrepreneurs to participate in the national governance

a/ The Ministry of Culture, Sports and Tourism shall:

Study and formulate the Scheme on ethical standards and business culture associated with national identity and access to the quintessence of the world’s business culture.

b/ The Ministry of Home Affairs shall:

- Study and revise the Law on Emulation and Commendation and guiding documents through: (i) simplifying dossiers and procedures for proposing commendation; (ii) increasing and diversifying forms and titles of commendation, honor and praise for typical enterprises, entrepreneurs, business households and business individuals in practicing sustainable business, properly performing the social responsibility, and actively participating in activities for the community.

- Study and propose mechanisms to increase the participation of excellent, kind-hearted and visionary entrepreneurs to participate in the national governance.

c/ The Ministry of Education and Training shall:

Review the framework training programs at all levels in order to add training contents on business startup activities in order to promote the business startup spirit among students.

d/ Ministries, sectors, local administrations, societies and associations representing enterprises shall:

- Frequently carry out communication to improve the awareness of entrepreneurs, enterprises, business households and business individuals about honest and ethical qualities and the business culture associated with the national identity, social responsibility and sense of environmental protection, sense of law observance, and ambition and aspiration to build a prosperous and strong country, thereby heightening the position and image of Vietnamese enterprises and entrepreneurs.

- Mobilize and encourage successful entrepreneurs to participate in activities to share experience, and inspire and train generations of young entrepreneurs in order to nurture and stimulate the startup spirit, and multiply typical models and examples in production and business activities.

- Organize business events and weeks in order to honor, promote and spread the business startup spirit and entrepreneurship to the community; propose handling of, or handle according to their competence, entrepreneurs and enterprises that violate business ethics and culture, affecting the image of Vietnamese enterprises and entrepreneurs.

- Take the initiative in discovering and proposing excellent, kind-hearted and visionary entrepreneurs to participate in the State’s leading apparatus.

- Regularly urge their cadres, civil servants, public employees and workers to proactively and dedicatedly solve problems for enterprises according to their functions, tasks and competence; promptly report to their superior authorities for settlement of issues falling beyond their competence; and build a close, substantive, shared, open and sincere relationship between administrations and businesses.

dd/ Industry societies and associations and organizations representing entrepreneurs and enterprises shall:

- Urgently consolidate and heighten their roles, functions, tasks and operational efficiency in order to protect the lawful and legitimate rights and interests of enterprises and entrepreneurs; improve the quality of their participation in the formulation, criticism and supervision of the implementation of guidelines and policies; and build capacity, and participate in the implementation of programs and policies to support the private economy.

- Carry out communication to raise their members’ awareness about business ethics, responsibility and culture and to be honest in working with state agencies in order to ensure truthful reporting and prevent self-seeking and corruptive practices of cadres and civil servants.

- Take the initiative in announcing and honoring typical member enterprises, entrepreneurs, business households and business individuals who have greatly contributed to economic development and social security of their localities and the country.

III. ORGANIZATION OF IMPLEMENTATION

1. To establish the National Steering Committee for the implementation of Resolution No. 68-NQ/TW headed by the Prime Minister to direct ministries, sectors and localities to drastically perform tasks as assigned in the Plan of Action, with the Ministry of Finance acting as the standing body of the Steering Committee. The Ministry of Finance shall propose to the Prime Minister the establishment of the Steering Committee before May 25, 2025.

2. Within the ambit of their functions and tasks, the ministers, heads of ministerial-level agencies, heads of government-attached agencies, and chairpersons of provincial-level People’s Committees shall:

a/ Formulate plans on implementation of this Resolution on the basis of reviewing programs and plans for implementation of the Party’s resolutions and the Government’s plans of action related to private economy development for synchronous and uniform adjustment; and promulgate those plans in the second quarter of 2025 at the latest, clearly specifying deadlines for tasks to be completed on a monthly basis, and send them to the Ministry of Finance for monitoring and summarization.

b/ Drastically implement the promulgated plans; prioritize the allocation of sufficient financial and human resources for the implementation; regularly inspect, urge, supervise, and ensure the on-schedule and quality implementation of objectives, tasks and solutions set in the Plan of Action; and annually send a report on the implementation of the Resolution to the Ministry of Finance for summarization and reporting to the Government.

c/ The Ministry of Finance shall assume the prime responsibility for evaluating the criteria on the number of enterprises operating in the economy, the growth rate of the private economy, their contributions to GDP, total state budget revenues, and employment, and the criterion on labor productivity specified in Section II of Resolution No. 68-NQ/TW.

d/ The Ministry of Science and Technology shall assume the prime responsibility for evaluating the criteria on technological qualifications and capacity, innovation and digital transformation of the private economy specified in Section II of Resolution No. 68-NQ/TW.

3. The Ministry of Finance shall assume the prime responsibility for, and coordinate with ministries, sectors, localities, and societies and associations in, monitoring and urging the implementation of the Plan of Action, promptly reporting and proposing to the Prime Minister and the Government necessary measures to ensure the synchronous and effective implementation of the Plan of Action.

4. In the course of implementation, if deeming it necessary to amend and supplement specific contents of the Plan of Action, ministries, sectors and localities shall send their proposals to the Ministry of Finance for summarization and reporting to the Prime Minister for consideration and decision.

Appendix

LIST OF TASKS FOR IMPLEMENTATION OF THE GOVERNMENT’S PLAN OF ACTION TO IMPLEMENT THE POLITICAL BUREAU’S RESOLUTION No. 68-NQ/TW OF MAY 4, 2025, ON PRIVATE ECONOMY DEVELOPMENT

(To the Plan of Action promulgated together with the Government’s Resolution
No. 138/NQ-CP of May 16, 2025)