Speaking with VietNamNet, Dr. Nguyen Bich Lam, former Director General of the General Statistics Office, noted that Resolution 68 presents eight comprehensive solution groups ranging from institutional reforms to specific implementation measures, mobilizing the full strength of the political system.

The resolution affirms that private-sector development is one of the country’s most vital driving forces and must be positioned as a leading force in economic growth.

Dr. Lam especially praised the solution group focused on reforming, improving, and enhancing the quality of institutions and policies - particularly the commitment to effectively ensuring and protecting ownership rights, property rights, freedom of business, and equal competition in the private sector.

According to Lam, this is a pivotal solution, reinforcing business community confidence by safeguarding lawful ownership and property. This, in turn, will ignite motivation and unleash the intellectual potential of Vietnam’s entrepreneurs. If executed effectively, this approach will not only foster trust and momentum but also mobilize internal resources and talent from within the private economy.

Another major concern for businesses is how violations are handled. Resolution 68 clearly states that in civil, administrative, or economic matters, priority will be given to civil, administrative, and economic remedies.

If legal interpretations leave room for either criminal or non-criminal resolution, the resolution insists on not pursuing criminal charges. If a case necessitates criminal proceedings, economic measures must be applied first to remedy the consequences, and the results of those efforts should serve as a basis for mitigating criminal liability if the business has made active reparations.

Dr. Lam emphasized that this solution is fundamental to promoting trust and reassurance, preventing production disruptions when an individual or group within the private sector violates regulations.

He also highlighted the importance of solutions that make it easier for the private economy to access key resources such as land and high-quality human capital - areas where private enterprises have historically faced major obstacles.

These solutions will help remove bottlenecks and create equality in economic activity across sectors. In the past, many experts have remarked that policy often treated state-owned enterprises as the “biological children,” foreign-invested enterprises (FDIs) as the “adopted children,” and private domestic enterprises as the “stepchildren.”

The fifth group of solutions - enhancing connectivity - is equally important. Dr. Lam noted that the current private sector lacks internal cohesion and coordination with state-owned and FDI enterprises.

“With the current state of Vietnam’s private economy, establishing stronger linkages is crucial for entering domestic supply chains and expanding to global markets. We need national private enterprises to lead and connect others,” Lam stressed.

Turning the resolution into reality

Dr. Can Van Luc, Chief Economist of BIDV and member of the National Financial and Monetary Policy Advisory Council, remarked that Resolution 68 has long been awaited by citizens and businesses, particularly the private sector. Every solution it presents is a game-changer, aimed at enabling the private sector to grow faster, safer, and more sustainably.

According to Luc, the state is now playing a truly enabling role, allowing the private sector to thrive. He emphasized the importance of the eighth solution: private enterprises must operate ethically, comply with the law, and contribute meaningfully to national development rather than becoming obstacles to socioeconomic progress.

To implement Resolution 68, Dr. Lam proposed that the government establish a dedicated steering committee to regularly review progress - monthly, quarterly, and annually - on the resolution’s implementation.

Dr. Luc added that while the resolution is comprehensive, the key challenge now is execution and integration into daily life.

“The government should prepare several decrees to guide implementation. For instance, a decree for household businesses, and guidance on private enterprise access to land, capital, science and technology, and skilled labor. Some matters will eventually require legislation - ideally, a Private Sector Law as I’ve previously proposed,” Luc said.

He also emphasized the need for a capacity-building program for civil servants and officials who support both public and private sector enterprises.

“Most importantly, it’s time to increase accountability and assign KPIs to local governments and ministries regarding business development - including state-owned enterprises, private companies, and household businesses,” Dr. Can Van Luc concluded.

Nguyen Le