Vietnam’s Party General Secretary Calls for Clear Strategy to Strengthen Private Economic Sector
Hanoi, The Gulf Observer: Vietnam’s Party General Secretary Tô Lâm has emphasized the need for a well-defined strategy to develop Việt Nam’s private economic sector in alignment with the country’s current economic development level and evolving geopolitical and geo-economic landscape. The strategy should ensure strong adaptability, resilience, and competitiveness for the sector.
Chairing a working session with the Party Central Committee’s Commission for Policies and Strategies on Friday, Tô Lâm underscored that the strategy must serve as a roadmap for businesses and economic entities, guiding their investments and development directions. He highlighted the importance of improving infrastructure and human resources to create a conducive environment for business growth.
The Party chief stressed the necessity of changing mindsets and perceptions regarding private sector policies, calling for the elimination of misconceptions and prejudices. He urged a shift from small-scale, fragmented agricultural practices to an industrial mindset focused on large-scale operations and innovation-driven growth.
Recognizing institutional barriers as a major obstacle to economic progress, he called for swift improvements in the business environment, removing regulatory hurdles and implementing comprehensive, flexible support policies. He also emphasized ensuring equality in access to capital and production resources for private enterprises, enabling their participation in key national projects and facilitating their transition from small- and medium-sized enterprises into large corporations.
Additionally, he called for stronger connectivity between businesses and economic sectors to establish a sustainable economic cycle, fostering economic independence and resilience. He stressed the need for continuous reforms and enhanced Party leadership, ensuring the effective implementation of Party resolutions and policies.
Tô Lâm urged the Party Central Committee’s Commission for Policies and Strategies to uphold its role as the Party’s strategic advisory body by proposing innovative policies and decisions that drive Việt Nam’s rapid and sustainable economic development.
