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Resolution No. 68-NQ/TW emphasizes the importance of the private sector, which is considered a key driver of the national economy, currently contributing approximately 50% of GDP and 30% of total state budget revenue. The private sector promotes growth, generates employment, enhances labor productivity, strengthens national competitiveness, and fosters innovation.
The development targets for the private sector by 2030 and 2045 as stated in the Resolution are as follows:
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By 2030: The private sector is expected to contribute approximately 55–58% of GDP, account for 35–40% of total state budget revenue, and create employment for 84–85% of the total workforce.
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By 2045: The goal is to develop a strong and sustainable private sector that contributes over 60% of GDP and plays a leading role in the economy.
The Resolution sets out specific tasks and solutions to achieve these targets, including:
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Reforming thinking and awareness: Raising awareness of the role of the private sector in national development, encouraging innovation, and respecting entrepreneurs.
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Improving institutions and policies: Innovating legal thinking and institutional reform, eliminating administrative and “ask-give” mechanisms, and creating a transparent and stable business environment.
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Creating a favorable business environment: Reducing compliance costs, enhancing transparency of procedures, and promoting digital transformation in enterprises.
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Strengthening support for small- and medium-sized enterprises (SMEs): Providing support in terms of finance, tax, and investment policies, especially in areas such as innovative startups and high technology.
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Promoting connectivity and cooperation: Encouraging large enterprises to connect with SMEs through supply chains and public-private partnerships, contributing to the development of supporting industries and strategic sectors.
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Improving human resource quality: Focusing on training programs for entrepreneurs, particularly executive leaders. Enhancing the quality of the workforce for the private sector.
In addition, the Resolution calls for the application of science and technology and innovation, the protection of legitimate rights and interests of private enterprises, and the strengthening of the leadership role of the Party and the State to promote the development of the private sector.
