Resolutions 57 and 68 poised to drive private sector growth

Resolutions 57 and 68 poised to drive private sector growth

Resolution 57 outlines the strategic shift toward science, technology, innovation and national digital transformation as the foundation for achieving robust, double-digit economic growth in the years to come. Meanwhile, Resolution 68 identifies private enterprises as a pivotal force in realising those objectives.

Yarn production lines at a Logitex facility in Thái Bình Province. —VNA/VNS Photo Thế Duyệt

Two resolutions issued by the Politburo are expected to jointly deliver a significant boost to the development of private enterprises when implemented concurrently, experts have said.

Hồ Đức Thắng, deputy director of the National Digital Transformation Agency under the Ministry of Science and Technology, emphasised the synergy between Resolution 57-NQ/TW and Resolution 68-NQ/TW, which were both issued on May 4. 

Resolution 57 outlines the strategic shift toward science, technology, innovation and national digital transformation as a foundation for achieving robust, double-digit economic growth in the years to come.

Meanwhile, Resolution 68 identifies private enterprises as a pivotal force in realising those objectives, Thắng told thoibaotaichinhvietnam.vn.

With these goals in focus, Việt Nam is entering a transformative phase, moving away from a growth model reliant on natural resources and low-cost labour toward one driven by science, technology and innovation.

This shift aligns with global development trends and Việt Nam’s economic realities, Thắng said, adding that the private sector, particularly small and medium-sized enterprises, continues to play a vital role in enhancing national competitiveness.

Chairman of the National Start-up Association Đinh Việt Hòa emphasised two important points in Resolutions 57 and 68 concerning Việt Nam’s start-up ecosystem. For the first time in history, Resolution 68 positions private enterprises as the national economy's leading force, describing them as front-line soldiers driving economic development.

While Việt Nam has recently witnessed significant progress in business development, the country’s potential remains vast. Despite a population of 100 million, the total number of new businesses is only just over 940,000, Hòa said.

He added that Resolution 68 will be a powerful catalyst for expanding Việt Nam’s business community. However, it also brings heightened competition among enterprises, requiring them to undergo substantial changes.

Businesses should focus on boosting competitiveness, fostering innovation and improving labour productivity to ensure sustainable development in the evolving economic landscape, Hòa said. 

At the same time, he stressed the critical importance of product structure for enterprise sustainability.

Hòa toldthoibaotaichinhvietnam.vn that Việt Nam can no longer rely on competing through cheap labour alone. Instead, the focus must shift toward products with high intellectual content, including innovative and knowledge-based offerings capable of competing on the global stage. 

Yarn production lines at a Logitex facility in Thái Bình Province. —VNA/VNS Photo Thế Duyệt

Transforming vision into results

From a business perspective, experts consider Resolutions 57 and 68 as a golden development framework that paves the way for mastering advanced technologies.

Vice President of MISA JSC Đinh Thị Thúy said that these resolutions present a valuable opportunity, not only fostering digital transformation but also enhancing competitiveness based on genuine capabilities. 

According to Thúy, the successful implementation of State policies requires active and coordinated participation from both Government agencies and businesses, the primary beneficiaries of these policies.

Thúy said she believes that positivity and proactive engagement are needed from both sides. Only then can orientations be transformed into practical actions that yield real results. 

She added that businesses are not just beneficiaries, but also creators.

If businesses simply wait for policies, they risk being passive. Instead, they must reflect the realities on the ground and propose solutions, enabling the State to promptly improve institutions, Thúy noted. 

She also proposed that when transitioning business households into small enterprises, instead of adopting a single shared software solution, clear standards should be established to allow hundreds of software providers to participate and compete fairly. This approach, she argues, not only enhances effectiveness but also promotes creativity, aligning with the spirit of the resolutions.

Experts said that Resolutions 57 and 68 will only drive meaningful change if implemented in a coordinated, ongoing manner and regularly evaluated and adjusted based on market feedback. Achieving this requires strong collaboration among ministries and sectors, along with active participation from the private sector.

The shared vision of the two resolutions goes beyond transformative technology. It calls for a fundamental shift in management approaches and development thinking. Digital transformation, the experts noted, is not just about digitising processes but about reshaping market structures and redefining the role of private enterprises within the knowledge economy. 

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