 Prime Minister Pham Minh Chinh speaks at the meeting (Photo: VOV) |
The PM chaired a working session with the Private Sector Development Research Board (Board IV) in Hanoi on Sunday, focusing on implementing the Politburo's Resolution No. 68 along with resolutions from the National Assembly and the Government to advance the private economic sector.
Since its founding in October 2017, Board IV has been a key bridge between the public and private sectors, driving policy reform, organizing national and regional forums, and building a strong network of business associations.
The Prime Minister called for removing institutional barriers, mobilizing nationwide resources, and enhancing support for science, technology, digital transformation, innovation, smart governance, and human capital.
The State must play a facilitative role, while businesses must lead in innovation and execution, with private sector development under the Party’s leadership, he affirmed.
Stressing the need to accelerate the realization of Resolution 68, PM Chinh endorsed the Board’s proposal for a Private Sector Performance Index to be launched in August as a dynamic digital dashboard for both the Government and the National Steering Committee.
The index will track the transition from household businesses to formal enterprises, growth from small to large firms, and deeper integration into global value chains.
He also welcomed the “Vietnam Private Sector Panorama” as a platform for dialogue, awareness-raising, and inspiring a wealth-creation movement, emphasizing that it must deliver tangible results. The Ministry of Finance was tasked with working with Board IV on its scope and implementation.
The PM clarified that in order to secure 8.5% growth in 2025 and a double-digit development in the years ahead, the private sector must show more active engagement and a higher rise.
Encouraging business leaders, especially those involved with Board IV, to consider establishing a Private Sector Development Fund, the PM also highlighted the need for more effective communication efforts to showcase success stories and best practices. These should serve as models for others to follow, he added.