Discussing Resolution 68 on the Finance Street talk show aired on VTV8, Prof. Dr. Mac Quoc Anh, Vice Chairman of the Hanoi Small and Medium Enterprises Association, hailed it as a pivotal political and economic milestone.
Mr. Quoc Anh noted that Vietnam’s economy has heavily relied on foreign direct investment (FDI). Resolution 68 aims to establish 2 million enterprises by 2030, equating to 2 businesses per 1,000 citizens.
Achieving this goal requires enhancing the competitiveness of private enterprises to ensure their sustainable growth and high market resilience. This involves excelling in product and service distribution domestically while successfully integrating private enterprises into the global economy.
According to Mr. Quoc Anh, Resolution 68 introduces a significant stimulus by mandating a 30% reduction in administrative procedures, creating new opportunities for private sector growth. Banks are also urged to allocate preferential capital and relax lending conditions for private enterprises.
The resolution further mandates enterprises to innovate through science and technology, embracing a “dual transformation” encompassing green and digital shifts, while merging traditional and e-commerce practices.
Prof. Dr. Mac Quoc Anh highlighted that the private sector currently contributes approximately 42% of Vietnam’s GDP, over 30% of state budget revenue, and employs more than 85% of the workforce. With over 940,000 active enterprises nationwide, small and medium-sized enterprises (SMEs) constitute 97% of this total. In Hanoi alone, 25,000 new enterprises register annually, bringing the active total to around 410,000, predominantly SMEs.
Over the past decade, the government has issued numerous policies, resolutions, decrees, and guidelines, notably with active input from private enterprises, especially SMEs. Key examples include Resolution 35/NQ-CP (2016) on enterprise support until 2020, Resolution 10-NQ/TW (2017) on private sector development as a key economic driver, and the recent Resolution 68-NQ/TW (2025) on enhancing private sector innovation and efficiency.
These policies reflect the government’s commitment and the collaborative role of enterprises in fostering a transparent, equitable, and efficient business environment.
Prof. Dr. Mac Quoc Anh emphasized that effective policy implementation requires multiple factors. Firstly, government bodies, local authorities, and financial institutions must create an enabling framework and support enterprises.
Secondly, enterprises must be self-reliant by enhancing governance capabilities, particularly in legal compliance and aligning with recent government policies to access benefits.
Additionally, sustainable development demands adherence to ESG standards to compete both domestically and internationally. Enterprises must undergo a dual transformation—green and digital—while leveraging advanced technology and innovation to create competitive products and services for global markets, supported by bilateral and multilateral trade agreements.
Another critical factor is upgrading the workforce to meet future innovation demands.
Lastly, building robust supply chains within cooperating countries and regions is essential. Enterprises must maintain credibility and trust with customers and partners to achieve this.
VPBank’s Director of SME Product Development Center: Resolution 68 Sparks High Expectations for Robust Growth in the Private Enterprise Sector
Mr. Hoang Trung Hieu stated that prior to Resolution 68, the private sector had already made significant contributions to GDP and job creation, despite being positively evaluated, it had not yet been recognized as a strategic driver as it is now.
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