HCMC – Party General Secretary Nguyen Phu Trong has signed a new Politburo resolution which indicates that the criminalization of economic relations should be avoided to foster the development of the Vietnamese business community.
Vietnam’s overarching goal is to cultivate a new generation of Vietnamese entrepreneurs who possess a diverse set of qualities, such as a resilient organizational structure, a forward-thinking perspective, sharp intellectual power, ethics, a vibrant entrepreneurial spirit, and corporate culture that reflects national identity.
By 2030, Vietnam aims to establish a solid business community characterized by its scale, capabilities, and requisite qualifications to effectively realize the nation’s industrialization and modernization goals.
The plan primarily focuses on expanding the number of businesses that operate in the region and elevating certain companies that can go global. The outlook for local firms includes securing prominent positions in key industries and sectors and establishing a strong presence in global supply chains.
In addition, the plan seeks to integrate businesses into various industrial and agricultural value chains, ensuring their competitiveness in core and pioneering industries worldwide.
To achieve the country’s status as a developed nation by 2045, the strategy aims to build internationally recognized brands and develop enterprises that lead multiple supply and value chains.
The resolution of the Politburo outlines seven tasks and solutions for achieving the objectives. Raising awareness about the role of businesspeople in accomplishing Vietnam’s development goals and streamlining the country’s legal frameworks is part of the effort to create a fair, secure, and equitable business environment for local entrepreneurs.
The Politburo emphasizes the need to implement appropriate economic sanctions to handle specific violations, notably avoiding the criminalization of economic relations. Additionally, the Politburo underscores the importance of establishing a stable, synchronized, unified, transparent, and fair legal framework, particularly with regards to access to land, financial, and technological resources.
The resolution also intends to provide conducive conditions for the growth of small and medium-sized enterprises, enabling them to enhance their reach, competitiveness, and production capabilities. It aims to facilitate the establishment of business models that prioritize innovation, digital economy, and green economy.
