According to National Assembly deputy Phan Duc Hieu, successful implementation of Resolution 68 could mark the third major breakthrough in the history of Vietnam’s private sector development.

Resolution 68 outlines tax reforms to boost transparency and encourage business formalization.

Addressing a national conference in Hanoi on May 18 on the dissemination and implementation of Resolutions 66 and 68, the leader called for joint efforts to drive Vietnam into a new era — one of development, prosperity, and strength.

The private sector has played a vital role in mobilising resources, spurring economic growth, boosting budget revenues, creating jobs, enhancing living standards, and fostering global integration.

Resolution 68 is expected to help dismantle constraints on both the institutional regime and the prevalent mindset, creating a new environment for private enterprises to thrive.