Strategies outlined by the four-member Politburo to fulfill Vietnam's aspiration of reaching high-income status by its centennial anniversary
Unleashing the Beast: Việt Nam's Shift in Private Economy With Resolution 68
HÀ NỘI - Over 1.5 million participants descended upon a national conference, eager to discuss the unprecedented shift in mindset required to fuel progress in two key resolutions. They aimed to implement the Politburo's Resolutions 66 and 68, focusing on renewing the work of law-making and law enforcement and the development of the private economy, respectively.
General Secretary Tô Lâm delivered a keynote speech, eloquently outlining the ambitious goals set forth in these resolutions during the hybrid event held at the National Assembly building. Prime Minister Phạm Minh Chính and National Assembly Chairman Trần Thanh Mãn followed with presentations on the two resolutions.
Prior to the conference, delegates took a tour of exhibitions showcasing achievements in law making and enforcement, private economic development, and booths displaying products from the private sector.
The Party chief kicked off the conference by highlighting the significant strides Việt Nam has made since implementing the Đổi mới (Renewal) process for nearly 40 years. The economy has consistently grown, living standards have soared, and internationally, Việt Nam's standing has steadily improved.
The four breakthrough resolutions of the Politburo, including Resolutions 57, 59, 66, and 68, constitute institutional cornerstones propelling Việt Nam forward in the new era and towards the vision of becoming a developed, high-income country by 2045.
General Secretary Lâm emphasized the significance of Resolution 68, declaring it to be a momentous leap in the Party's theoretical thinking and practical leadership. The resolution calls for bold reforms, focusing on improving institutions to protect property rights and the right to do business, creating a fair, transparent, and stable investment and business environment, fostering innovation, and building a modern entrepreneurial class.
In essence, Resolution 68 lays the foundation for a comprehensive shift in private economic development policy, transitioning from a passive to an active role, with plans to lead development, not just supplement it. This strategic choice is aimed at realizing our aspiration for a strong and prosperous nation by the mid-21st century.
The Politburo's Resolution 57, as stated by the top leader, clearly defines science, technology, innovation, and digital transformation as strategic breakthroughs, the primary drivers for modernizing the country, reforming national governance, and achieving rapid and sustainable socio-economic development.
To achieve these goals, the entire Party, people, and armed forces must prioritize key tasks, including raising awareness throughout society, breaking through outdated thinking, strengthening political will, improving institutions, removing legal and administrative barriers, and creating an environment conducive to innovation and technology application.
Resolution 66 identifies the fundamental reform of law-making and enforcement as a core and foundational task in building a socialist rule-of-law state in the new era. The resolution affirms that law is more than just a regulatory tool; it serves as the basis for the organization and exercise of state power, a solid foundation for protecting human and civil rights, and a lever for socio-economic development.
The spirit of reform emphasizes a proactive and forward-looking approach to law-making, aligning with rapid development needs, and ensuring digital transformation enhances transparency and user-friendliness for citizens and businesses. Accountability, the elimination of special interests and group privileges, and clear decentralization and delegation of authority are essential components of this reform.
In closing, Resolution 68 is a decisive, visionary strategy designed to unlock the full potential of Vietnam's private economy, positioning the sector at the forefront of national development over the next several decades. By addressing systemic barriers, introducing supportive policies, and setting ambitious growth targets, the private sector is poised to sustain economic growth and accelerate socio-economic development in tandem with the broader goals of the nation.
Party General Secretary Tô Lâm delivers the keynote speech at the national conference on Sunday to disseminate and implement Resolution No. 66-NQ/TW, dated 30 April 2025, of the Politburo on renewing the work of law-making and law enforcement to meet the demands of national development in the new era and Resolution No. 68-NQ/TW, dated 4 May 2025, of the Politburo on the development of the private economy. - VNA/VNS Photo
- The push for a transition in private economy in Vietnam, as outlined in Resolution 68, emphasizes the need for bold reforms, focusing on fostering innovation, building a modern entrepreneurial class, and improving institutions to protect property rights and the right to do business.
- The four breakthrough resolutions, including Resolutions 57, 59, 66, and 68, set institutional cornerstones to propel Vietnam forward in the new era, with the ultimate vision of becoming a developed, high-income nation by 2045.
- In his keynote speech, General Secretary Tô Lâm highlighted the importance of Resolution 68, viewing it as a monumental leap in the Party's theoretical thinking and practical leadership that would drive a comprehensive shift in private economic development policy.
- Resolution 57, as defined by the top leader, identifies science, technology, innovation, and digital transformation as strategic breakthroughs, essential for modernizing the country, reforming national governance, and achieving rapid and sustainable socio-economic development.
- Achieving these ambitious goals requires society-wide awareness, a break from outdated thinking, a strengthening of political will, improved institutions, the removal of legal and administrative barriers, and the creation of an environment conducive to innovation and technology application.
- The spirit of reform in Resolution 66 emphasizes a proactive and forward-thinking approach to law-making, promoting digital transformation for transparency and user-friendliness, with accountability, the elimination of special interests, and clear decentralization and delegation of authority as essential components.
- By addressing systemic barriers, introducing supportive policies, and setting ambitious growth targets, the private sector in Vietnam is poised to not only sustain economic growth but also to accelerate socio-economic development in tandem with the broader aims of the nation.
- As the national conference on private economy comes to a close, delegates, government officials, and the private sector will collaborate to implement Resolutions 66 and 68, with the goal of renewing law-making and law enforcement efforts and developing Vietnam's private economy.
- The strategic choice to lead development, not just supplement it, as outlined in Resolution 68, aligns with the broader aspirations for a strong and prosperous nation by the mid-21st century.
- The Conference on Education and Self-Development and Personal Growth, held in conjunction with the national conference, serves as a platform for fostering a culture of lifelong learning, essential for adapting to the demands of the evolving economy and for ensuring that Vietnam remains competitive in the global arena.
