Government leader lays out 15 action points and proposals to enhance the private business sector's growth
Vietnam's Politburo has outlined a comprehensive plan to transform the institutional framework for private economic development, with a focus on resolving institutional bottlenecks and reforming legal and administrative frameworks.
The key measures include reviewing and amending legal documents related to taxes, fees, land access, natural resources, interest rate support, and administrative penalties in fields such as competition, science and technology, and digital transformation. The aim is to remove barriers and create a competitive advantage.
Another important measure is streamlining administrative procedures by reducing time and costs, and promoting greater decentralization and delegation of authority to local governments for handling administrative matters.
The private sector is also set to receive support through specific policies such as tax exemptions/reductions, land policies, funds for scientific, technological, and innovation development, and workforce training. The focus is on fostering the growth of startups and innovative enterprises.
Localities have been urged to improve and finalise their development planning, promote new investment projects, and ensure equal, transparent, and open investor access.
The Government's Resolution No. 139/NQ-CP details the implementation plan of the National Assembly's document, and has laid out 56 tasks for executing the plan. Eleven ministries and agencies have been designated as leads, with 17 tasks scheduled for completion in 2025.
Prime Minister Pham Minh Chinh has outlined 15 groups of tasks and solutions for private economic development. He has directed the 18 provinces and cities that have yet to formulate action plans for implementing Resolution 68 to do so without delay.
The national steering committee for implementing the Politburo's Resolution No. 68-NQ/TW held its first meeting on August 4. The remaining 11 tasks must be fulfilled by the end of 2025.
In the first half of 2025, the state budget revenue from the non-state industry-trade and services sector reached nearly 260 trillion VND, up 25% year-on-year. Over 2.4 quadrillion VND of additional capital was reported by operating businesses, representing a year-on-year increase of more than 186%.
The Government has also adopted Resolution No. 198/2025/QH15 on special mechanisms and policies to support the growth of the private economic sector. In the first seven months of 2025, over 108,000 new businesses were established.
These measures aim to transform institutional frameworks into competitive advantages by removing barriers, promoting innovation and digital transformation, and ensuring transparent and equal access for investors. This, in turn, is expected to spur private sector growth aligned with Vietnam’s economic restructuring goals.
[1] Source: Government's Resolution No. 138/NQ-CP [2] Source: Government's Resolution No. 139/NQ-CP [3] Source: National Assembly's Resolution No. 198/2025/QH15 [4] Source: Prime Minister Pham Minh Chinh's directives [5] Source: The national steering committee for implementing the Politburo's Resolution No. 68-NQ/TW
- The outlined measures in Vietnam's institutional framework reform for private economic development incorporate amendments to various business-related policies and legislation, such as reviews of legal documents related to taxes, fees, land access, natural resources, interest rate support, and administrative penalties, as well as streamlining administrative procedures to foster a competitive advantage.
- In a bid to spur growth aligned with Vietnam’s economic restructuring goals, the Government has introduced special mechanisms and policies, including tax exemptions/reductions, funding for scientific, technological, and innovation development, and workforce training, all aimed at promoting the growth of startups and innovative enterprises within the private sector.
