Hanoi (VNA) – Resolution No. 68-NQ/TW of the Politburo on the development of the private economic sector has been warmly welcomed by the business community, as it introduces a wide range of comprehensive, innovative and breakthrough measures capable of mobilising the sector's resources for socio-economic development, particularly in major infrastructure projects, an official has said.
Trinh Thi Huong, Deputy Director of the Agency for Private Enterprise and Cooperative Development under the Ministry of Finance, told the Vietnam News Agency that the measures include proactive state commissioning, limited or designated bidding, as well as preferential and incentive mechanisms to encourage private participation alongside the state in investment in strategic infrastructure projects. These include digital infrastructure, energy infrastructure, logistics systems and green transport. She added that the resolution also promotes solutions to diversify and enhance the effectiveness of public-private partnership (PPP) models, such as public leadership–private governance, public investment–private management, and private investment–public use in economic infrastructure. These approaches are expected to expand opportunities for the sector’s involvement in key national projects.
According to official figures, following three waves of ground-breaking and inauguration of major projects, there are currently around 564 underway, with total mobilised capital of approximately 5.1 quadrillion VND (194 billion USD). Of this, the private economic sector has contributed more than 3.8 quadrillion VND, or 74.6% of the total.
However, Huong noted that several bottlenecks and challenges remain in mobilising private capital for socio-economic development, particularly in the implementation of large-scale projects.
Overlapping administrative procedures, licensing requirements and inter-agency coordination have led to significant delays, higher costs and, in some cases, missed business opportunities. Meanwhile, between 98% and 99% of Vietnamese enterprises are micro-, small- or medium-sized. Large projects require substantial capital, yet most private firms remain undercapitalised. A further challenge relates to contractual risks during implementation, which can adversely affect corporate cash flow.
According to the official, to address these difficulties, in early 2026, the finance ministry advised the Government on the issuance of Resolution No. 01 on socio-economic development and Resolution No. 02 on improving the business environment and enhancing national competitiveness. The ministry has also proposed refinements to policies under the investment law, reductions in conditional business requirements, and amendments to the laws on bidding and PPP, with a view to diversifying and improving the effectiveness of public-private cooperation models.
Recently, the ministry submitted to the Government a draft decree detailing the implementation of several provisions of National Assembly Resolution No. 198/2025/QH15 on special mechanisms and policies for private economic development. Under the proposal, eligible research and development (R&D) expenses will be deductible at twice their actual cost for corporate income tax purposes, and enterprises will be allowed to allocate up to 20% of taxable income for R&D investment.
In addition, the ministry has proposed two programmes to the Prime Minister: one to develop 1,000 pioneering enterprises, and another to train 10,000 chief executive officers for the sector.
The Government, along with ministries, sectors and local authorities, is currently intensifying efforts to reduce costs, administrative procedures and business conditions by 30% each.
Huong said another key solution that requires stronger implementation in the near future is enhancing the capacity of local administrations, particularly at the commune level, in order to foster a more enabling business environment for the sector./.
VNA
