Eliminate the "sometimes tight, sometimes open" mechanism that makes it difficult for the private economic sector

According to experts, the current "sometimes tight, sometimes open" mechanism causes difficulties and hinders the private economic sector from developing and promoting its role as the driving force of the economy.

During the 12th Congress, our Party has more strongly affirmed to continue to innovate the growth model associated with economic restructuring. The 12th Congress has more clearly defined the basic characteristics of Vietnam's socialist-oriented market economy. In addition to the characteristics mentioned in previous Congresses, for the first time, the 12th Congress Document has added new characteristics, affirming that the socialist-oriented market economy in Vietnam is an economy that operates fully and synchronously according to the laws of the market economy, is a modern and internationally integrated market economy, in which the private economy is an important driving force of the economy...

New perspectives on the private sector

Unlike previous periods, when we considered "the private economy as one of the driving forces of the economy", this time the 12th Congress Document affirmed that "the private economy is an important driving force of the economy".

Prof. Dr. Nguyen Xuan Thang, member of the Party Central Committee, Director of the Ho Chi Minh National Academy of Politics, said that the awareness of the private economy as an important driving force comes from the very vivid reality of the country's economy. Over the years, hundreds of thousands of private enterprises have created dynamic economic development, contributed significantly to job creation, increased people's income, boldly made breakthroughs and pioneered in many new production and business fields. In the integration process, many private enterprises have reached out and affirmed their brands in the world market.

The 12th Congress document affirms that "the private economy is an important driving force of the economy" (Photo: KT)

“The Vietnamese business community is widespread and numerous in all forms and sizes, and is playing an increasingly important role in the country’s development decisions. Therefore, creating favorable conditions for the private sector to develop is also creating conditions to liberate development resources in society, so that the economy can maximize its great potential. Considering the private economy as an important driving force of the economy is certainly a source of encouragement for the spirit of entrepreneurship, innovation and creativity, creating vitality and breakthroughs in the country’s development in the new period,” said Prof. Dr. Nguyen Xuan Thang.

Dr. Nguyen Thi Lan Huong, Vietnam Academy of Social Sciences, also said that the 12th Congress Documents affirmed a new level of the role of the private economy. “The most important point is that the 12th Congress officially affirmed the role of the “important driving force” of the private economy in the economy. Affirming this role shows that our Party is increasingly aware of the role of the private economy and, along with it, respect for private capital ownership and the role of private capital in economic development.

According to Dr. Pham Viet Dung, Communist Magazine, since the 10th Congress, when the private economy was officially identified as an economic sector that was encouraged to develop, without any restrictions on scale, this economic sector has made great contributions to the socio-economic development and international integration of the country. The Resolution of the 12th Congress has taken a new step in recognizing the role of the private economy, which is the confirmation that "the private economy is an important driving force" in the development of the country. This also means that the development of the private economy is considered a part of the development of productive forces in a socialist-oriented market economy.

“In a socialist-oriented market economy, the development of the private economy is also a factor that not only ensures the maintenance of high GDP growth rates, creates revenue for the State budget, but also participates with the State in solving social issues such as job creation, hunger eradication, poverty reduction, and human resource development…” - Dr. Pham Viet Dung commented.

Eliminate the "sometimes tight, sometimes open" mechanism that makes it difficult for the private economic sector

However, according to Dr. Pham Viet Dung, it is also necessary to affirm that no matter how developed the private economy is, it cannot challenge the leading role of the State economy. No matter how rich and successful Vietnamese businessmen are, they can never become a factor challenging the State's economic regulation.

Prof. Dr. Nguyen Xuan Thang, member of the Party Central Committee, Director of the Ho Chi Minh National Academy of Politics, emphasized that determining the State economy to play a leading role and the private economy to be an important driving force of the economy does not imply discrimination but means that it depends on the function of each economic sector to determine their role. The State economy with its resources, tools, and policies plays a key role in orienting and regulating the economy, ensuring a large balance for the economy...

Dr. Nguyen Thi Lan Huong also believes that the perception that “the private economy is an important driving force of the economy” is not a deviation, on the contrary, it shows a more comprehensive and scientific view of the issue of ownership, seeing the close relationship between types of ownership from the perspective of unity between them, instead of looking at this relationship in the direction of absolutizing the contradictions between them. Reality shows that when there are guarantees of rights in the direction of harmonizing the interests between economic entities, it will promote economic and social development.

According to Associate Professor, Dr. Vu Hung Cuong, Vietnam Academy of Social Sciences, the assessment that the private economy is an important driving force of the economy is an important step forward in the Party's thinking and viewpoint on the role of economic sectors from the ownership perspective. The state economic sector gradually gives way to the private economic sector to play the role of a driving force for growth, because only the private economic sector can be dynamic, thereby creating dynamic development of the economy.

“The State economic sector plays a leading role not in the task of orienting the development of the economy, but rather in the role of a conditional, limited-term “foundation” and mainly plays the role of “seed investment” for development, creating a favorable environment for the development of the private economic sector. Affirming more clearly the viewpoint on the role of the private economic sector in economic development in our country like this will guide the planning of mechanisms and policies to create a more equal and favorable business environment for enterprises of all types of economic ownership to develop” - Associate Professor, Dr. Vu Hung Cuong commented.

In order for the private economic sector to be a fundamental driving force for development in Vietnam in the coming period, according to Associate Professor, Dr. Vu Hung Cuong, one of the key viewpoints is to create a basic consensus in the viewpoints in the political system and in the whole society on the role of the private economic sector in the country's development. "The state of the mechanism is sometimes tight, sometimes loose, causing difficulties and obstacles to the development of the private economic sector and promoting the driving role of the private economic sector. It is necessary to propagate so that all social classes are deeply aware of the development of the private economic sector and create conditions for this sector to promote its driving role in economic development"./.

According to VOV