HCMC – Prime Minister Pham Minh Chinh has asked the Ministry of Home Affairs to study and propose a mechanism that allows leading entrepreneurs to participate more deeply in national governance, as Vietnam pushes to strengthen the role of the private sector.
The request was made on December 20 at a meeting of the Steering Committee for Private Sector Development, reported the Government news website (baochinhphu.vn).
Chinh said implementation of the Politburo’s Resolution 68 on private sector development has produced initial results but remains uneven. Some ministries and local authorities have been slow to act, while coordination across agencies has been weak, limiting policy impact.
He added that many support policies have yet to be fully institutionalized, reducing their reach. Small and micro-sized firms and household businesses in some sectors continue to face difficulties.
The prime minister ordered completion of six remaining tasks under Resolution 68 by year-end. In the first quarter of 2026, ministries and agencies must issue or submit guidance to support the private sector, focusing on land access, production sites, interest rates, technology and digital transformation.
Chinh also asked the Ministry of Industry and Trade to complete a review of the 2021–2025 domestic market development program and submit follow-up proposals in the first quarter of 2026.
The Ministry of Finance was instructed to propose amendments to the law on support for small and medium-sized enterprises, study a law on household businesses and complete the legal framework for corporate bonds.
The Ministry of Agriculture and Environment was told to continue reviewing the Land Law and related regulations, with measures to control land price fluctuations and allocate land for industrial parks, clusters and incubators. It was also asked to finalise land rental support mechanisms for certain businesses.
The State Bank of Vietnam was tasked with drafting a national financial inclusion strategy for 2026–2030 and submitting it in the first quarter of 2026. It was also instructed to direct commercial banks to provide an annual interest rate support of two percentage points for loans to green projects, circular economy initiatives and projects meeting environmental, social and governance standards.
Looking ahead to 2026, Chinh called for faster institutional reform, administrative simplification and digital transformation to implement Resolution 68. He also urged the development of large private firms to support smaller businesses.
The prime minister said Vietnam should build an enterprise database linked to the national database, strengthen cybersecurity protections for firms, combat trade fraud and promote a sound business culture to make the private sector a key driver of the economy.
