Minister of Finance Nguyen Van Thang presented the draft resolution of the National Assembly on mechanisms and policies to develop the private sector, emphasizing that Resolution No. 68-NQ/TW dated May 4, 2025, of the Politburo considers the private sector as the most important driving force of the national economy. The resolution also tasks the Government with developing special mechanisms and policies to promote the development of the private sector, to be issued by the National Assembly at the 9th session.
To realize the goals set by the Party Congress and Resolution No. 68-NQ/TW, meeting the demands of a new era, it is necessary and urgent to build a resolution of the National Assembly on special mechanisms and policies to develop the private sector.
CREATING “IMPETUS, LEVERAGE, AND SUPPORT” FOR THE PRIVATE SECTOR
The resolution aims to promptly institutionalize the guidelines and policies of the Politburo outlined in Resolution No. 68, improving the investment and business environment, facilitating the private sector’s access to resources, and promoting science and technology, innovation, digital transformation, green transition, and human resource training. It also aims to encourage the participation of private enterprises in important national projects and support pioneering enterprises to reach international standards, thereby creating an “impetus, leverage, and support” to unleash the potential and productivity of the private sector.
The draft resolution focuses on groups of tasks and solutions with relatively clear content, urgency, and significant impact on the trust and production and business activities of the private sector. These tasks and solutions have not yet been institutionalized or need to be amended and supplemented within the authority of the National Assembly and are not within the scope of the laws in the law-building program of this term.
Specifically, the draft resolution institutionalizes five main policy groups. First, regarding the improvement of the business environment, the draft resolution proposes regulations on the principles of inspection, examination, licensing, certification, resource access, and ensuring fair competition for enterprises, business households, and individuals. It also outlines principles for handling violations and resolving business cases and for resolving enterprise bankruptcy through an expedited procedure.
According to the draft proposal, the number of inspections for each enterprise, business household, and individual (if any) should not exceed once a year, except in cases with clear signs of violation. The number of on-site inspections, including inter-agency inspections, should also not exceed once a year, unless there are clear signs of violation.
Strict handling of acts of harassment or causing difficulties for enterprises, business households, and individuals in the name of inspection and examination; Priority is given to remote inspections based on electronic data, reducing direct inspections.
A shift from pre-inspection to post-inspection is implemented, along with enhanced inspection and supervision effectiveness. The management of business conditions is also shifted from licensing and certification to self-declaration of business conditions and post-inspection, except for a few sectors that must obtain permits as required by international standards and practices.
One of the biggest challenges faced by businesses in the past has been access to land and production premises. To address this issue and improve businesses’ access to land, the draft proposes special support policies from the State.
Second, regarding support for access to land and production premises, the draft proposes state support policies, including access to land and premises in industrial parks, industrial clusters, and incubators, as well as support for renting houses and land that are state assets.
Third, in terms of financial and credit support and public procurement, the draft proposes support for low-interest loans for green and circular projects, expanding the scope and activities of the Small and Medium Enterprise Development Fund, and providing financial incentives and preferences in contractor selection.
According to the draft proposal (Article 1, Section 9), enterprises in the private sector, business households, and individuals will be supported with a 2% interest rate reduction when borrowing capital to implement green, circular, and ESG-compliant projects.
Small and medium-sized enterprises will be exempt from corporate income tax for the first three years from the date of their initial business registration.
Fourth, regarding support for science and technology, innovation, digital transformation, and human resource training, the draft proposes support for scientific research and innovation activities through tax incentives, as well as state support for the development or leasing of shared platforms. It also outlines support for improving enterprise governance and human resource quality through the implementation of a training and development program for 10,000 executives by 2030.
Fifth, regarding support for the formation of medium and large enterprises and pioneering enterprises, the draft proposes two policies: the placement of orders through restricted bidding or direct appointment for key socio-economic development projects of national importance, and support for the formation and development of medium and large enterprises and private economic groups with regional and global reach.
REFINING LAND ACCESS SUPPORT POLICIES TO AVOID “ASKING-GIVING” MECHANISMS
The National Assembly’s Committee for Economic and Financial Affairs, chaired by Phan Van Mai, reviewed the above issues. The majority of the committee agreed with the provisions of Article 2 regarding the mechanisms and policies applicable to enterprises, business households, and individuals.
For some mechanisms and policies that require more specific conditions for the subjects of application, the resolution specifies them in the relevant articles and clauses or assigns the Government to elaborate them in detail. The reviewing agency requested the drafting agency to continue reviewing and ensuring that the right subjects are supported and incentivized, aligning with the policy objectives.
Regarding the principles of inspection, examination, licensing, and certification for enterprises, business households, and individuals, as well as the principles for handling violations and resolving business cases, the reviewing agency requested the Government, the Council of Judges of the People’s Supreme Court, the Chief Justice of the People’s Supreme Court, and the Prosecutor General of the People’s Supreme Procuracy to pay attention to directing and evaluating the implementation to devise solutions for improvement. They also requested the early issuance of detailed guiding documents for the application of these principles after the resolution takes effect.
At the same time, based on the principles stipulated in this article, there is a need to promptly research, amend, and supplement the relevant laws to enhance legal effectiveness and ensure the stability and longevity of the regulations.
Regarding support for access to land and production premises in industrial parks, industrial clusters, and incubators, the reviewing agency suggested studying and refining the provisions to avoid “asking-giving” mechanisms, policy exploitation, and difficulties for businesses. They also proposed concretely defining the form of repayment to investors, corresponding to the form of land rent payment.
According to Clause 4, Article 7 of the draft: For new industrial parks and clusters established after this resolution takes effect, the provincial People’s Committees shall determine the land area for each park and cluster, ensuring a minimum average of 20 hectares/park or cluster or 5% of the total area of the industrial park or cluster that has invested in building technical infrastructure for leasing to high-tech enterprises in the private sector, small and medium-sized enterprises, and innovative start-ups.
Regarding financial and credit support, support for improving enterprise governance and human resource quality, and support for the formation and development of medium and large enterprises and private economic groups, the reviewing agency emphasized the need to learn from the implementation of Resolution No. 43/2022/QH15 to ensure clear criteria for identifying loan beneficiaries.
At the same time, it is necessary to strictly adhere to the principles of inspection and examination stipulated in Article 5 of the draft resolution and Resolution No. 68-NQ/TW, ensuring that state agencies and commercial banks operate on the principles of self-determination and self-responsibility.
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