As head of the steering committee for the development of the private sector proposal, Prime Minister Pham Minh Chinh chaired a government meeting this afternoon with the committee to continue reviewing and finalizing the draft before submitting it to the Politburo.

At the meeting, delegates agreed on the essential role of the private economy within production, supply, and distribution chains. They also analyzed preferential mechanisms and policies for the private sector, including those related to science and technology application, human resources, land, finance, and administrative procedures.

The Prime Minister stressed that the proposal must adhere closely to the resolutions and conclusions of the Party Central Committee and the Politburo, as well as speeches and directives from General Secretary To Lam, especially his closing remarks at the recent 11th Central Conference.

He highlighted the importance of respecting and aligning with practical realities, deriving from and measuring by them, while integrating theoretical frameworks and practical arguments, domestic insights, and international lessons. Private sector development should be placed within the broader context of national reform and breakthroughs.

Internal resources are decisive

The Prime Minister also underlined the need to identify bottlenecks and constraints that have hindered the private sector from reaching its full potential and opportunities. The relationship between the private sector and other economic components must also be addressed.

He called for higher targets, more ambitious goals, and breakthrough tasks and solutions that are focused, strategic, feasible, and tailored to Vietnam’s specific context and conditions.

According to Prime Minister Chinh, solutions must be capable of resolving key challenges. Internal resources must be defined as fundamental, strategic, long-term, and decisive, while external resources are important and transformative.

Tasks and solutions to develop the private sector must also align with the restructuring of the national economy, foreign investment, enterprises, markets, products, and supply chains. The goal is to enable private enterprises to grow stronger, mature, and collaborate effectively with the foreign-invested sector, particularly in technology transfer.

The Prime Minister concluded by emphasizing that the proposal must be strategic yet concise, ensuring clarity in six key aspects: who, what, when, output, responsibility, and authority. It must also be easy to understand, implement, monitor, and evaluate.

The Vinh