Legal assurance, innovation support key to private sector’s development: Top legislator
The National Assembly (NA)’s Standing Committee on May 14 afternoon deliberated on a draft resolution aimed at unleashing the potential of the private sector, with NA Chairman Tran Thanh Man underscoring the State’s support in legal frameworks, digital transformation, and innovation for the sector’s growth.
NA Chairman Tran Thanh Man (centre) at the 45th session of the NA's Standing Committee (Photo: VNA)
Hanoi (VNA) – The National Assembly (NA)’s Standing Committee on May 14 afternoon deliberated on a draft resolution aimed at unleashing the potential of the private sector, with NA Chairman Tran Thanh Man underscoring the State’s support in legal frameworks, digital transformation, and innovation for the sector’s growth.
According to the Government's proposal, the draft resolution seeks to institutionalise the Politburo's Resolution No. 68-NQ/TW on private economic development, expected to create a new lever and foundation for the sector’s production capacity. The main focus areas that the Government recommended comprised improving the business climate, easing access to land and production sites, providing financial, credit, and public procurement support, facilitating innovation, digital transformation, and workforce development, and promoting the formation of medium and large-sized enterprises.
The draft, comprising seven chapters and 17 articles, outlines principles for business inspections, licensing and certification, including limiting checks to once yearly except in case of evident violations, and shifts toward remote, electronic monitoring rather than physical inspections for compliant businesses.
NA Chairman Man called for concise content of the draft, focusing on breakthroughs that cou♉ld tangibly propel the private sector’s development.
At the 45th session of the NA's Standing Committee (Photo: VNA)
Laying stress on the significance of a shift in governance mindset, from control to facilitation, he stated that the State should neither stand outside the market nor intervene too deeply in business operations. He highlighted the need for consistency with existing laws and those under amendment, including the Law on Investment, the Law on Corporate Income Tax, and the Law on Science, Technology and Innovation.
Finally, he noted that financial backing will be essential to realise the resolution’s goals. From infrastructure investments to rent subsidies for high-tech firms, from tax incentives to credit support for small- and medium-sized enterprises and, the policies will require significant fiscal resources.|
The NA Cꦺhairman also called for careful scrutiny of beneficiaries and eligibility conditions./.
Steel production has transformed significantly thanks to active participation from private enterprises, which have invested big in advanced production technologies and completed steel manufacturing lines with high-capacity plants, resulting in diverse and high-quality products.
Party General Secretary To Lam has recently signed Resolution No. 68-NQ/TW of the Politburo on private sector development. The resolution sets the goal that by 2030, the private sector will become the most important driver of the national economy, taking the lead in science and technology, innovation, and digital transformation.
Prime Minister Pham Minh Chinh called for a comprehensive review and revision of policies to encourage business freedom, foster healthy competition among enterprises, and ensure equal access to capital, land, and public assets
Ha expressed his hope that cooperation in science and technology, agriculture, and natural resources would emerge as new focal points and engines of growth in Vietnam–China relations.
Giang said he believes that building on the solid foundation nurtured over the past half-century and the strong determination of both nations, the Comprehensive Strategic Partnership will continue to grow in a more robust, comprehensive, and extensive manner, thus bringing more practical benefits to the two nations' people.
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Vietnam and Indonesia reaffirmed their commitment to strengthening cooperation in combating terrorism as it remains a threat to peace, security, and stability across their respective nations, the broader region, and the international community.
The Vietnamese representative also emphasised the shared responsibility of relevant parties to build trust, enhance cooperation, and jointly manage the risks of conflict, thus safeguarding long-term peace and stability in the East Sea.
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The Party leader asked the new HCM City to embrace a multi-centre and integrated urban ecosystem where each development pole functions as a link complementary to and intelligently connected with each other in a harmonious whole.
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The Vietnamese Embassy in Israel has advised Vietnamese people living there to proactively prepare and seek ways to leave the country via land border crossings, especially toward Jordan or Egypt, when security and safety conditions allow.
