Resolution 68-NQ/TW 2025 on private sector

RESOLUTION

OF THE POLITICAL BUREAU
on private sector development

After nearly 40 years of renovation, Vietnam’s private sector has gradually developed in both scale and quality, becoming one of the key drivers of the socialist-oriented market economy. The private sector currently consists of over 940,000 enterprises and more than 5 million household businesses in operation, contributing approximately 50% of the national GDP, over 30% of total state budget revenue, and employing around 82% of the total workforce. It plays a vital role in promoting economic growth, generating employment, fostering innovation, enhancing labor productivity, improving national competitiveness, contributing to hunger eradication and poverty reduction, and maintaining social stability. Many private enterprises have grown substantially, established strong brands, and expanded into regional and international markets.

Nevertheless, the private sector continues to face numerous barriers that constrain its development, has not made significant breakthroughs in terms of scale and competitiveness, and has not yet met the requirements and expectations to become the core force of the national economy. The majority of enterprises remain micro, small, and medium-sized while their financial capacity and management capabilities remain limited. Most possess low technological competence and limited capacity for innovation; labor productivity, operational efficiency, and competitiveness remain inadequate; business mindset lacks strategic vision and connection with state-owned enterprises and foreign-invested businesses.

There are numerous causes leading to the above situation, primarily including the following: perceptions of the position and role of the private sector in the national economy remain incomplete and have not kept pace with development requirements; the institutional and legal framework still contains obstacles and inadequacies; leadership and direction have not received due attention; property rights and the freedom of business have not been fully ensured. The private sector continues to encounter considerable difficulties and obstacles in accessing resources, particularly capital, technology, land, natural resources, and high-quality human resources. A number of incentive and support policies remain ineffective and difficult to access, while business costs remain high.

To realize the national development objectives set forth in the Resolution of the 13^th National Party Congress and to meet development requirements in the new era, it is necessary and urgent to reform mindset, unify perception and action with comprehensive and breakthrough solutions to further strongly promote the role of the private sector, consolidate confidence, create new momentum and driving forces for economic development, foster growth, and enhance national competitiveness.

In light of the above, the Political Bureau requires focused, resolute, coordinated, and effective implementation of the following:

I. GUIDING VIEWPOINTS

1. In the socialist-oriented market economy, the private sector constitutes one of the most important driving forces of the national economy and serves as a pioneering force in promoting growth, generating employment, enhancing labor productivity, fostering national competitiveness, industrialization and modernization, and restructuring the economy toward green, circular and sustainable development. Together with the state economy and the collective economy, the private sector plays a core role in building an independent, self-reliant, resilient economy that is deeply, substantively, and effectively integrated into the global economy, enabling the country to overcome the risk of stagnation and move toward prosperity.

2. Rapid, sustainable, efficient and high-quality development of the private sector is both a central and urgent task and a long-term strategic orientation. It must be concretized in national development strategies and policies in order to fully promote potentials and advantages, unlock all productive capacities, activate, mobilize and efficiently utilize all resources, particularly those within the population, for socio-economic development; and to consolidate and strengthen national defense and security, foreign affairs and international integration.

3. To completely eliminate perceptions, mindsets, views and attitudes of prejudice against the Vietnamese private sector; to accurately recognize the important role of the private sector in national development; to nurture and encourage the entrepreneurial and innovative spirit of citizens and enterprises; to respect enterprises and entrepreneurs and regard entrepreneurs as a vanguard force on the economic front; to fully ensure property rights, the freedom of business, the right to fair competition and the right to engage in all business lines not prohibited by law; to build and strengthen mutual trust between the State and the private sector; to protect the lawful rights and interests of enterprises and entrepreneurs; and to ensure that the private sector has equal opportunity to compete with other economic sectors in accessing business opportunities and resources, particularly capital, land, technology, human resources, data and other lawful national resources in accordance with the law.

4. To create a business environment that is open, transparent, stable, safe, easy to navigate, cost-effective, and internationally aligned, ensuring regional and global competitiveness. To promptly develop and improve laws as well as breakthrough mechanisms and policies to encourage the private sector to develop in priority fields, invest in research and development, apply science and technology, promote innovation and digital transformation, participate in important and strategic national tasks and reach regional and global levels; and to promote a culture of innovative start-ups, digital transformation and lawful, legitimate wealth creation.

5. To strengthen the leadership role of the Communist Party and the enabling role of the State, placing enterprises at the center as key actors. To focus on training and developing an entrepreneur contingent with business ethics, business culture, competence, intellect, dynamism and creativity and with strong aspiration for advancement; and to honor and encourage the development of a strong entrepreneur contingent characterized by patriotism, national pride, aspiration for contribution, respect for the rule of law and active fulfillment of social responsibility.

II. OBJECTIVES

1. By 2030

- The private sector will become one of the most important driving forces of the national economy and serve as a pioneering force in science and technology development, innovation and digital transformation, thereby contributing to the successful implementation of Resolution No. 57-NQ/TW dated December 22, 2024, of the Political Bureau and other directions and policies of the Party.

- To strive to have 2 million enterprises operating in the economy, equivalent to 20 enterprises per 1,000 people; and to have at least 20 large enterprises participating in global value chains.

- To achieve an average annual growth rate of the private sector of approximately 10 - 12%, higher than the overall economic growth rate; to contribute about 55 - 58% of GDP, around 35 - 40% of total state budget revenue, and create employment for about 84 - 85% of the total labor force; and to increase labor productivity by an average of around 8.5 - 9.5% per year.

- Technological capacity, innovation, and digital transformation will rank among the top three in ASEAN and among the top five in Asia.

2. Vision to 2045

Vietnam’s private sector will develop rapidly, strongly, and sustainably; actively integrate into global production and supply chains; and possess high competitiveness attaining regional and international levels. By 2045, the aim is to have at least 3 million enterprises operating in the economy, contributing over 60% of GDP.

III. TASKS AND SOLUTIONS

1. Reforming mindset, ensuring strong consensus in perception and action, and igniting national confidence and aspiration to create new momentum and impetus for private sector development

- To ensure consistent and unified perception across Party committees, authorities at all levels, the entire political system, the business community and the people regarding the position and role of the private sector; to strengthen confidence, aspirations for advancement and strong actions of the Vietnamese private sector in the new era. The State must take on an enabling and serving role, supporting the private sector to develop rapidly and sustainably, without administrative intervention in production and business activities contrary to market principles; and foster an open, friendly, accompanying, integrity-based and development-oriented relationship between authorities and enterprises.

- To step up communication to raise awareness and action, inspire the entrepreneurial and start-up spirit, confidence, self-reliance and national pride among all citizens in order to strongly promote private sector development. Media and press agencies shall improve the quality and effectiveness of communication, ensuring objectivity, accuracy and completeness, encouraging and disseminating good models, good practices, creativity and effectiveness, and motivating the entrepreneurial spirit throughout society. To strictly prohibit acts of harassment, negativity and the dissemination of misleading or inaccurate information that adversely affects enterprises and entrepreneurs.

2. Strengthening institutional and policy reform, improvement and quality enhancement, and ensuring and effectively protecting ownership rights, property rights, freedom of business, fair competition rights, and contract enforcement of the private sector

2.1. Strengthening institutional and policy reform, improvement and quality enhancement

- To reform mindset in formulating and enforcing laws to ensure that the economy operates in line with the socialist-oriented market mechanism, using market instruments to regulate the economy; to minimize intervention and eliminate administrative barriers, “ask - give” mechanisms, and the mindset of “what cannot be controlled must be banned.” Citizens and enterprises shall have the freedom to do business in any sectors and trades not prohibited by law. Any restrictions on the right to conduct business shall only be imposed for reasons of national defense, national security, social order and safety, social morality, environmental protection and public health, and must be prescribed by law.

- To improve the legal system and eliminate barriers to market access, ensuring an open, transparent, clear, consistent, long-term stable, easy-to-comply-with and low-cost business environment. To ensure full transparency, digitalization, intelligence, automation and thorough application of artificial intelligence and big data in implementing administrative procedures, particularly those related to market entry and exit, land, planning, investment, construction, taxation, customs, insurance, intellectual property, standards and technical regulations, etc. In 2025, to complete the review and removal of unnecessary business conditions, overlapping and inappropriate regulations that hinder the development of private enterprises; to reduce by at least 30% administrative processing time, at least 30% compliance costs, and at least 30% business conditions, and continue significant reductions in subsequent years. To strongly implement the provision of public services to enterprises regardless of administrative boundaries. To strive for Vietnam’s business and investment environment to rank among the top three in ASEAN and the top 30 worldwide by 2028.

- To shift from a public-service-oriented administrative system predominantly focused on management to a serving and development-enabling approach, placing citizens and enterprises at the center; to modernize public governance and promote data-driven governance. To strongly shift from prior-check to post-check associated with strengthened inspection and supervision. To shift the management of business conditions from licensing and certification to the publication of business conditions and post-check, except for a number of sectors required to implement licensing procedures in accordance with regulations and international practices. To amend the Law on Bankruptcy, shorten the time required for legal procedures, expand the application of simplified bankruptcy procedures; to strengthen the application of electronic litigation procedures and reform asset-handling mechanisms. To establish mechanisms for evaluating and responding to obstacles and barriers in production and business activities. To address inconsistencies in policy implementation between central and local levels, among ministries and sectors, and among localities.

- To ensure market-based mechanisms without discrimination among enterprises of different economic sectors in mobilization, allocation and use of resources, including capital, land, natural resources, assets, technology, human resources, data and other lawful resources. To review and improve policies on taxes, fees and charges toward ensuring fair treatment among economic sectors, reducing tax rates, and broadening the tax base, particularly for e-tax collection generated from cash registers; and to strictly prohibit the abuse of administrative decisions and sectoral or local protectionism. To strictly handle acts that restrict competition, abuse dominant or monopoly positions, and commit unfair competition.

- To improve the legal framework for new economic models and digital technology- and digital platform-based business, particularly fintech, artificial intelligence, virtual assets, virtual currencies, tokenized assets, cryptocurrencies and e-commerce, etc. To establish pilot mechanisms for new sectors and fields on a post-check basis in conformity with international practices. To improve laws and policies on data and data governance, creating favorable conditions for enterprises to connect, share and utilize data while ensuring security and safety.

- To facilitate administrative procedure processing; to assign, decentralize and clearly define responsibilities among levels and sectors within each agency and unit, and to clearly identify the accountability of heads of agencies in handling administrative procedures. To strictly handle acts of corruption, personal profiteering and harassment committed by cadres and civil servants; at the same time, provide mechanisms for exemption from liability for cadres and civil servants who have fully complied with relevant procedures and regulations and have no self-seeking motives during the performance of their duties, but damage occurs due to objective risks.

- To establish special mechanisms and policies to support small- and medium-sized enterprises in accordance with market principles and international commitments; to abolish the business license tax; and to exempt corporate income tax for small- and medium-sized enterprises during the first three years of establishment; to allocate sufficient resources from the central and local budgets for enterprise support programs and policies, combined with mobilization of resources from investment funds of enterprises, business associations, industry groups, research institutes and universities, etc. To strengthen the role of the private sector and entrepreneurs in participating in policy consultation and feedback, ensuring substance, efficiency, and transparency.

- To strongly develop the domestic market, stimulate consumption, diversify distribution channels, and vigorously promote digital platforms and e-commerce; to substantively and effectively implement the campaign “Vietnamese people prioritize using Vietnamese goods”; to upgrade and reform the national trade promotion program; and to support private enterprises in building and promoting their brands. To encourage the development of private retail groups; and to provide preferential policies for small- and medium-sized enterprises and innovative start-ups to participate in public procurement programs, plans and projects in accordance with international practices. To enhance enforcement capacity and effectively utilize international commitments, and to establish effective mechanisms to support the settlement of international disputes for the private sector, etc.

- To update and standardize indicators, statistical data and databases on the private sector to serve assessment, policy-making and development strategies appropriate to each period; and to provide appropriate data-sharing mechanisms for research, consulting, and policy review agencies and organizations.

2.2. Ensuring and effectively protecting ownership rights, freedom of business, property rights, the right to fair competition, and contract enforcement of the private sector

- To improve the legal system for contract enforcement and the resolution of business and commercial disputes, and shorten the time required for resolving contractual disputes. To establish special mechanisms for addressing longstanding projects and contracts that have been delayed for many years, causing losses and waste of social resources and hindering the development of private enterprises, while determining the role and responsibilities of relevant agencies, organizations, units and individuals in accordance with the law; and to terminate delays by state agencies and state-owned enterprises in fulfilling payment obligations under signed contracts with private enterprises. To strengthen the transparency, effectiveness and efficiency of economic courts and commercial arbitration in handling international commercial disputes, ensuring that such settlement is prompt, fair, objective and equitable.

- To review, improve and effectively enforce legal provisions on the protection of property rights, including intellectual property rights and intangible assets, and minimize legal risks. To formulate policies to support domestic valuation and protection of intellectual property rights, and support and encourage private enterprises to register intellectual property rights abroad and with international organizations. To impose strict sanctions against violations of intellectual property rights, particularly violations in the field of e-commerce. To ensure full online processing of procedures for the establishment of industrial property rights, and minimize the time required to process applications for intellectual property rights, ensuring conformity with international practices.

- To eliminate overlapping, duplicative, prolonged and unnecessary inspections and examinations; to ensure the principle that enterprises shall be subject to inspection and examination only once per year, except where there is clear evidence of violations; and to strictly handle acts of abusing inspection and examination to harass and cause difficulties for enterprises. To develop data systems and artificial intelligence tools for early warning of potential legal violations; and to strongly apply digital transformation in inspection, examination, and auditing activities. To implement online inspection and examination, prioritizing remote inspections and examinations based on e-data and reducing on-site inspections and examinations. To exempt enterprises with good compliance with legal regulations from physical inspections.

2.3. Adhering to the principles of clearly distinguishing criminal liability from administrative and civil liability; and between the liability of legal entities and individuals in handling violations

- To amend legal provisions on criminal law, civil law, criminal procedure and civil procedure to ensure the principle that, in handling violations and cases of civil and economic nature, priority shall be given to applying civil, economic and administrative measures first, thereby allowing enterprises and entrepreneurs to proactively remedy violations and damages. Where the practical application of the law may or may not lead to criminal prosecution, criminal handling shall be resolutely not applied. Where criminal handling is necessary, priority shall be given to economic remedies first, which shall serve as an important basis for considering subsequent handling measures. Legal provisions must not be applied retroactively to the detriment of enterprises. Cases lacking evidence or with unclear evidence must be promptly concluded to avoid affecting the reputation and normal business operations of enterprises and entrepreneurs. The principle of presumption of innocence must be ensured throughout the process of investigation and trial of cases.

- To ensure that the sealing, temporary seizure, and freezing of assets related to cases must comply strictly with jurisdiction, procedures, scope, and authority, without infringing upon the legal rights and interests of individuals and organizations. The value of sealed, seized or frozen assets must correspond to the anticipated damages in the case.

- To clearly distinguish lawfully formed assets from assets obtained through violations of law and other assets related to the case; and to distinguish between the assets, rights and obligations of an enterprise and those of individuals who are managers of such enterprise. To allow the reasonable use of necessary measures to ensure the value of assets related to the case and minimize the impact of investigation on business operations, provided that there is consensus among procedural authorities and such actions do not hinder the investigation.

3. Facilitating the private sector’s access to land, capital and high-quality human resources

3.1. Enhancing opportunities for the private sector to access land and production and business premises

- To promote digital transformation and facilitate private sector access to land and production and business premises. To establish appropriate mechanisms and policies to control fluctuations in land prices, particularly for non-agricultural and commercial-use land, and minimize adverse impacts on enterprises’ investment and production-business plans. No later than 2025, to complete the development of the National Land Database connected to the National Data Center and relevant databases. To implement e-transactions in the land sector; to ensure transparency and proactive provision of information to enterprises; to reduce the time required for land lease procedures and the issuance of land use right certificates; and to provide active support in site clearance.

- To allow localities to use local budget resources to support investors in developing infrastructure for industrial parks, industrial clusters and technology incubators, on the condition that such investors allocate a portion of their developed land for lease to hi-tech enterprises, small and medium-sized enterprises, and innovative start-ups. Based on local conditions, localities shall determine the land area in each industrial park or industrial cluster, ensuring an average minimum of 20 hectares per park or cluster, or 5% of the total land area with completed infrastructure, reserved for the above-mentioned enterprises. The State shall adopt policies to reduce by at least 30% the land sublease fees for these enterprises for the first five years from the date of signing the land lease contract. The reduced amount shall be refunded to the investor through deduction from the land rental payable by the investor in accordance with the law. To adopt policies on providing support in terms of clean-site infrastructure, electricity, water, transportation, telecommunications and administrative procedures for hi-tech enterprises, small and medium-sized enterprises, supporting-industry enterprises and innovative start-ups.

- To focus on resolving difficulties and obstacles in projects facing procedural obstacles and experiencing delays in progress; and to mobilize and put into effective use land resources that are being wasted, including unused public land, public office buildings, and land involved in prolonged disputes or legal cases. To adopt policies to support small and medium-sized enterprises, supporting-industry enterprises and innovative start-ups in leasing publicly-owned land and buildings that are unused or not yet utilized in localities.

3.2. Promoting and diversifying capital sources for the private sector

- To review and improve credit mechanisms and policies for the private sector. To adopt policies prioritizing a portion of commercial credit for private enterprises, particularly for small and medium-sized enterprises, supporting-industry enterprises, and innovative start-ups, to borrow for investment in machinery, equipment, new technologies, green transition, digital transformation, export credit, and supply-chain financing. To encourage financial and credit institutions to provide loans based on the assessment of business models and market-expansion plans, to expand lending based on data, cash flow and value chains, and to consider secured assets including movable assets, intangible assets, future-formed assets and unsecured lending forms.

- To promote the development of green credit. The State provides interest rate support mechanisms and incentivize credit institutions to offer reduced rates for private enterprises implementing green, circular economy projects and applying ESG (Environmental, Social, Governance) standards.

- To review the legal framework and improve the operational model of credit guarantee funds for small and medium-sized enterprises at both central and local levels; to encourage the participation of financial institutions and large enterprises in guaranteeing loans for small and medium-sized enterprises; to accept risks arising from objective or force majeure conditions in guarantee activities; to apply management based on overall objectives; to stipulate reasonable provisions for financial reserves, and relax guarantee conditions compared to bank lending conditions; and to develop mechanisms for supplementing resources and appropriate insurance policies to ensure system safety. To study the establishment of re-guarantee funds and cross-guarantee and co-guarantee models, etc.

- To improve the legal framework and operational mechanisms of the Small and Medium-sized Enterprise Development Fund in the direction of expanding eligible beneficiaries, and simplifying, enhancing transparency, digitizing the conditions, processes and procedures for receiving applications, appraisal, lending and disbursement; to diversify capital sources from the state budget and from contributions of domestic and international enterprises, organizations and individuals, etc.; to urgently supplement functions and tasks of investing in local investment funds and private investment funds in order to increase capital supply for small and medium-sized enterprises and innovative start-ups; to provide seed funding for start-up projects, start-up lending; and to develop incubators and support start-ups. To encourage co-financing models involving central funds, local funds, private funds and financial and credit institutions to share risks and increase preferential lending levels for small and medium-sized enterprises.

- To review and amend legal regulations governing the operations of non-deposit-taking lending institutions in order to diversify credit supply for enterprises, particularly small and medium-sized enterprises. To amend the legal framework on the operations of finance leasing companies in the direction of expanding the list of leasable assets, including non-traditional assets such as software, exploitation rights, intellectual property and data. To promulgate a controlled pilot regulatory framework for peer-to-peer lending and for crowdfunding platforms to directly connect small and medium-sized enterprises with funding individuals and organizations.

- To connect and share information among banking, taxation and relevant agency systems, ensuring interoperability and data sharing on the operational and financial status of enterprises; and to enable the assessment of creditworthiness and credit scoring of enterprises by credit institutions, financial funds and third-party credit rating organizations in order to strengthen lending to small and medium-sized enterprises and household businesses.

- To support enterprises in improving governance capacity, building transparent and standardized financial systems, standardizing accounting and auditing practices, and implementing solutions to enhance credibility and the ability to access financial resources.

- To strengthen inspection, examination and strict supervision of the operations of credit institutions and credit granting activities; and to exercise tight control over lending activities serving internal ecosystems.

- To review and improve tax policies to facilitate capital investment activities of investment funds in enterprises; to increase investment limits in long-term assets or capital financing in the capital structure of enterprises; and to establish mechanisms for mobilizing medium- and long-term capital for investment funds. To study permitting financial investment institutions to expand their ability to mobilize capital from sources such as social insurance funds and voluntary pension funds in order to develop the capital market, particularly medium- and long-term capital for private enterprises.

- To urgently upgrade and restructure the securities market, develop the insurance market, and improve regulations on corporate bonds in order to enhance quality and expand stable and low-cost capital mobilization channels for the private sector. To study the establishment of a legal framework for the securitization of debt instruments.

3.3. Enhancing the quality of human resources for the private sector

- To concentrate resources on developing a network of high-quality higher education and vocational education institutions and priority disciplines. To encourage the development of international joint training programs, as well as the expansion and transfer of advanced training programs serving private sector development.

- To reform assessment methods and graduation recognition with the participation of enterprises for high-quality programs. To support and encourage enterprise-ordered training and increase enterprise involvement in human resource training. Training and retraining expenses incurred by enterprises shall be deductible expenses in determining taxable income for corporate income tax purposes.

- To effectively implement programs on training and fostering programs to improve the quality of human resources for the private sector; and to encourage localities to use their lawful resources to proactively support human resource development programs consistent with local socio-economic development orientations.

- To implement training and fostering programs for 10,000 chief executive officers; and to mobilize successful entrepreneurs to participate in training, experience sharing, inspiration, and practical and effective support for the business community.

- To strengthen education and training in creativity, STEM, foreign languages and digital skills at all education levels to meet the requirements for high-quality human resources in association with the development of science and technology, innovation, and entrepreneurship.

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

- To decisively implement Resolution No. 57-NQ/TW dated December 22, 2024 of the Political Bureau on breakthrough development of science, technology, innovation and national digital transformation in the private sector.

- To promulgate a controlled pilot regulatory framework (sandbox) for new technologies, products, services and business models; and to create a favorable environment for private enterprises to engage in research and application of artificial intelligence, blockchain, big data, e-commerce, fintech, smart healthcare, etc.

- To allow enterprises to treat research and development (R&D) expenses as deductible expenses equal to 200% of the actual R&D expenses when determining corporate taxable income. To adopt policies supporting investment costs for machinery procurement, technological innovation, digital transformation, green transition, sustainable and circular business practices through corporate income tax deduction mechanisms or funding via relevant funds.

- Enterprises shall be permitted to set aside up to 20% of corporate income taxable earnings to establish funds for science, technology, innovation, digital transformation and research and development; and may use such funds to self-implement or outsource R&D activities under a product-based contracting mechanism.

- Private enterprises and organizations shall be permitted to use State-owned laboratories, testing facilities, shared design-support spaces and research equipment, as well as national testing, metrology, inspection and appraisal centers, to develop products at reasonable fees.

- To adopt policies on corporate income tax exemption or reduction for innovative start-ups, venture capital fund management companies, and intermediary organizations supporting start-ups and innovation from the time their corporate income tax liabilities arise. To exempt personal income tax and corporate income tax on income derived from the transfer of contributed capital or the right to contribute capital in innovative start-ups. To exempt or reduce personal income tax for experts and scientists working at innovative start-ups, R&D centers, innovation centers, and intermediary organizations supporting innovation-driven start-ups.

- The State shall prioritize resources to support investment in developing innovation centers to serve incubation and activities relating to the research, testing, development and transfer of technologies aimed at assisting enterprises in innovation and start-up activities.

5. Strengthening connectivity among private enterprises and between private enterprises and state-owned enterprises and foreign-invested enterprises

- To develop enterprise linkage chains by industry clusters, value chains and supply chains. To encourage large enterprises to lead domestic supply chains and connect with small- and medium-sized enterprises and household businesses. To support the development of industrial linkage clusters, particularly in supporting industries, manufacturing and processing, agro-processing, food processing, information technology, and creative industries. To identify the transfer of technology, product testing support, technical assistance, knowledge and human resource training, and the use of products and services of with small- and medium-sized enterprises by large enterprises as an important criterion for eligibility for State incentive policies. Training and retraining expenses incurred by large enterprises for small- and medium-sized enterprises participating in the supply chain shall be deductible for the purpose of determining taxable income when calculating corporate income tax.

- To encourage financial and credit institutions to provide capital financing for private enterprises operating within value chains and supply chains.

- To urgently implement support policies on research and development, training, consultancy, trade promotion, and technology transfer, etc. To assist enterprises in obtaining certificates and accreditations that meet industry standards required by export markets, thereby enabling their participation in value chains and supply chains. The State shall provide support for consultancy and trade promotion services to facilitate connections between foreign-invested enterprises and domestic enterprises in industrial zones, key economic zones, and free trade zones.

- To apply appropriate localization ratios in accordance with the established roadmap in fundamental, spearhead, and prioritized industries; and to require major FDI projects to establish plans for integrating domestic supply chains from the project approval stage. To support start-ups established by former managerial and technical staff of foreign-invested enterprises, thereby leveraging their experience, expertise, governance models, and relationships with foreign-invested enterprises to participate in the supply chain.

6. Establishing and rapidly developing medium- and large-sized private enterprises and private economic conglomerates of regional and global stature

- To expand the participation of private enterprises in nationally important projects. The State shall proactively adopt commissioning policies, restricted bidding or contractor designation, or preferential policies to encourage the private sector to participate alongside the State in strategic sectors and in key national scientific research projects and tasks (such as high-speed railways, urban rail systems, spearhead industries, energy infrastructure, digital infrastructure, green transportation, and defense and security industries, etc.) as well as urgent and essential missions. To formulate solutions to promote private-sector investment in expanding and developing the provision of high-quality healthcare and education services, and in the development of cultural and entertainment industries.

- To diversify and enhance the effectiveness of cooperation models between the State and the private sector through public–private partnership (PPP) mechanisms, public leadership – private governance, public investment – private management, and private investment – public utilization, in the fields of economic infrastructure, socio-cultural infrastructure, information technology, and communications, with the selection based on socio-economic efficiency as the key criterion. To promptly develop and implement a Program for the development of 1,000 exemplary private enterprises pioneering in science and technology, innovation, digital transformation, green transition, hi-tech industries, and supporting industries.

- To formulate and implement a “Go Global” Program, focusing on supporting enterprises in terms of market access, capital, technology, branding, distribution channels, logistics, insurance, export performance incentives, consultancy, legal services, resolution of business and commercial disputes, mergers and acquisitions, and connectivity with multinational corporations, etc.

7. Providing substantive and effective support for micro, small enterprises and household businesses

- To review and improve the legal framework for individual business activities; to minimize disparities and create all favorable conditions in corporate governance and financial and accounting regimes to encourage household businesses to transform into enterprises. To accelerate digitalization, transparency, simplification, and compliance-friendly mechanisms in accounting, taxation, and insurance, etc. to promote the transformation of household businesses into enterprise-based operations. To abolish the presumptive tax regime for household businesses no later than 2026.

- To provide free access to shared digital platforms, common accounting software, legal consulting services, and training in corporate governance, accounting, taxation, human resources, and legal compliance for small and micro enterprises, household businesses, and individual business households.

- To effectively implement the National Strategy for Inclusive Finance, promoting access to and use of financial products for small and micro enterprises and household businesses, with priority given to business owners who are youth, women, individuals from vulnerable groups, ethnic minorities, mountainous, border and island areas, and inclusive business models that generate positive social impact.

8. Upholding business ethics, promoting social responsibility, strongly fostering the entrepreneurial spirit, and creating all favorable conditions for entrepreneurs to participate in national governance

- To build a business community characterized by ethics, business culture, integrity, honesty, and social responsibility, deeply rooted in national identity while embracing the best global business practices, and driven by the aspiration to build a prosperous, strong, and thriving nation. To regard business ethics and business culture as the core values and uphold strict compliance with the law. To evaluate private enterprises in accordance with international standards based on core criteria, including: (1) the level of compliance with the law; (2) Employment generation; (3) contributions to the state budget; and (4) participation in social security activities.

- To foster an entrepreneurial spirit across the entire society; to nurture and encourage entrepreneurship and innovation among all citizens. To urgently incorporate entrepreneurship training programs into educational and training institutions in order to strongly promote entrepreneurial mindset and business start-ups among students and learners.

- To honor, commend, and reward exemplary and pioneering entrepreneurs and enterprises that operate effectively and sustainably, fulfill social responsibilities, and actively participate in community activities. To mobilize outstanding entrepreneurs with vision, capability, and dedication to participate in national governance.

- To establish close, substantive, cooperative, open, and sincere relationships between Party committees, government authorities, and enterprises, in which State management agencies shall proactively and diligently address difficulties and obstacles faced by private enterprises within their assigned functions, duties, and authority, and promptly report to the competent authorities matters beyond their jurisdiction; at the same time, to promote the role of enterprises and business associations in providing policy recommendations and feedback that are truthful, timely, and reflect the true nature of difficulties and obstacles; and to strictly prohibit acts of policy manipulation, policy-driven profiteering, exploitation, and corruption of cadres and civil servants.

- Private enterprises and entrepreneurs shall proactively renew their business mindset; be dynamic and creative; maintain resilience; nurture willpower and aspiration; constantly learn and improve their capabilities, qualities, and qualifications; accumulate knowledge and experience; make continuous efforts to rise; legitimately create wealth; and contribute to their homeland and the nation.

- To continuously strengthen and enhance the role, functions, duties, and operational effectiveness of associations and representative organizations of enterprises and entrepreneurs to protect the lawful and legitimate rights and interests of enterprises and entrepreneurs; and to participate in the development, feedback, and supervision of the implementation of the socio-economic development guidelines and policies of the Party and the State.

- To formulate specific and feasible policies on building organizations of the Ho Chi Minh Communist Youth Union and developing Party membership in enterprises and among entrepreneurs, and to establish appropriate mechanisms and regulations for Party organizations within enterprises so that outstanding individuals in enterprises may be admitted to the Party.

IV. ORGANIZATION OF IMPLEMENTATION

1. The Party Committee of the National Assembly shall lead and direct the review and improvement of laws on private sector development; and strengthen supervision over the implementation in accordance with regulations.

2. The Party Committee of the Government shall: (1) Direct the formulation and submission to the National Assembly of special and exceptional mechanisms and policies for promulgation at the 9^th session of the XV^th National Assembly (May 2025); and formulate the action program for the implementation of this Resolution. (2) Coordinate with the Party Committee of the National Assembly to promptly institutionalize fully the guidelines and policies set forth in this Resolution, allocate adequate resources for implementation, and propose a National Assembly Resolution on private sector development at the 9^th session of the XV^th National Assembly with specific, feasible, and effective preferential mechanisms and policies. (3) Assume the prime responsibility for preparing dissemination materials and coordinate with the Central Commission for Communication and Education and the Central Mass Mobilization Commission to organize dissemination immediately after the promulgation of the National Assembly’s Resolution on special mechanisms and policies.

3. The Party Committees of ministries, ministerial-level agencies, Governmental agencies, the Supreme People’s Court, the Supreme People’s Procuracy, provincial and municipal Party Committees, and Party Committees under the central level shall develop action plans with appropriate tasks, solutions, and roadmaps, and specifically assign responsibilities to relevant agencies and units for implementation.

4. The Party Committee of the Vietnam Fatherland Front and the Party Committees of central-level mass organizations shall lead and direct the formulation of programs and plans to guide and mobilize the People to implement this Resolution; and promote the role of supervision and social feedback, and participation in the development of laws, mechanisms, and policies on private sector development.

5. The Central Commission for Communication and Education and the Central Mass Mobilization Commission shall assume the prime responsibility for, and coordinate with the Party Committee of the Government and relevant agencies in, advising the Political Bureau and the Secretariat on organizing the dissemination and strengthening communication and promotion of the contents of this Resolution.

6. The Party Committee of the Government shall assume the prime responsibility for, and coordinate with the Central Commission for Policy and Strategy, the Office of the Party Central Committee, and Party Committees under the Central level and localities in, monitoring and evaluating the implementation of this Resolution; and report to the Political Bureau for direction on emerging issues and practical requirements.

This Resolution shall be disseminated to all Party cells.

For the Political Bureau

The General Secretary

TO LAM