The beginning is not in policy.

In the context of the world facing many fluctuations, from geopolitical instability, supply chain disruptions to green transformation and digitalization pressures, the Vietnamese economy is also entering a new phase with stricter requirements on internal capacity. Growth cannot rely solely on the FDI sector or public investment but must rely on the private sector as a key driving force.

The project to invest in construction and business of infrastructure of Song Cong II Industrial Park - Phase 2 is being implemented smoothly and will continue to attract many large investors. Photo: TL

The issuance of Resolution No. 68-NQ/TW dated May 4, 2025 by the Politburo on private economic development has become a strategic orientation and an affirmation that there cannot be a self-reliant economy without strong private enterprises.

In particular, a very specific target is set for the private economic sector to grow by an average of 10-12% per year; by 2030, it will contribute 55-60% of GDP, becoming a pioneer in innovation, industrialization and modernization of the country.

Looking from Thai Nguyen , a locality with a dynamic industry, developed infrastructure and abundant human resources, this policy is not new but continues to pose an urgent requirement to shift from supportive companionship to creating a sustainable development environment for businesses.

By early 2025, Thai Nguyen had more than 10,000 operating enterprises, most of which were small and medium-sized enterprises. In recent years, the province has always adhered to the viewpoint of "3 companions, 5 supports" with enterprises, established a modern public administrative service center, perfected mechanisms on land access, production premises, human resource training, promoted administrative procedure reform, etc.

Not just stopping at slogans, meetings and dialogues with businesses are held regularly, demonstrating the government's open spirit.

However, as many business representatives have shared, for a business to develop sustainably, the important thing is not only having policies, but whether the policies reach the right people at the right time.

The current problem is not a lack of policies, but how to effectively implement them, avoiding delays that cause lost opportunities for businesses, especially small-scale startups with limited potential.

In the context of increasingly fierce international competition, the wave of FDI pouring into Vietnam in general, and Thai Nguyen in particular, is creating considerable pressure for domestic enterprises. Many enterprises are worried about being "disadvantaged" right at home.

But if supported promptly in terms of capital, digital transformation, technological innovation, and market connectivity, the domestic private sector will be the force that protects the long-term competitiveness of the local economy.

The good news is that Thai Nguyen has many businesses making efforts to move up the value chain, gradually participating in supporting industries, green production, and exporting high-quality goods.

True to the spirit of Resolution No. 68-NQ/TW emphasizing the promotion of business ethics, many production and business enterprises have actively associated themselves with social responsibility; entrepreneurs are not only people who enrich themselves but also people who create value for society.

With what has been done, Thai Nguyen has grounds to believe in a new development phase, in which private enterprises truly become the creative subjects.

The business community will develop quickly, strongly and sustainably when placed in a transparent, trustworthy environment and given timely support, with each step having the active and effective support of the government and specialized agencies.

Source: https://baothainguyen.vn/kinh-te/202507/khoi-dau-khong-nam-o-chinh-sach-49908d2/