Emphasizing private economy and developing economic components

Dong Nai is one of the localities with a large economic scale and one of the country's most dynamic business communities. In recent years, the province's entrepreneurial team has affirmed its important role in socio-economic development, serving as a pioneering force in investment, production, and business; contributing to job creation, increased budget revenue, promotion of digital transformation, and innovation... After merging with Binh Phuoc, the potential and opportunities for the private economic sector and other economic sectors to breakthrough have become even wider.

Thuan Loi Rubber Co., Ltd. (Thuan Loi commune) is among the Top 12 national strong brands - Viet Nam Top Brands 2025. Photo: Tran The

The political report presented at the first Congress of the Dong Nai provincial party Committee, term 2025-2030, determines to strongly develop the private economy, expand economic components, contributing to achieving double-digit growth. This is one of the important tasks for transforming the growth model; taking science, technology, innovation, digital transformation, shared economy, and knowledge economy as the main driving forces.

Affirming the role of the private economy

From the general perspective of the whole country, as Vietnam is strongly integrating, the private economy, the entrepreneurial community, and Vietnamese community of entrepreneurs and enterprises play an increasingly important role. The Party and State have new policies to better promote the role of the private economy in the national economy, considering it the main driving force for national development. Notably, Resolution 68-NQ/TW issued by the Politburo on April 5, 2025, on the development of the private economy (Resolution 68-NQ/TW), marks a historical step by establishing the private economic sector as the most important driving force of the Vietnamese economy.

According to Associate Professor, Dr Tran Dinh Thien, former Director of the Vietnam Institute of Economics, overall, Vietnamese enterprises are good at withstanding shocks but are slow to grow for many reasons. Growth resources need to be unleashed so the private economy can access them, thereby giving the enterprises more motivation and strength to develop, especially credit capital, land, resources, and high-quality human resources, particularly in technology, engineering, and finance sectors... Resolution 68-NQ/TW was born as a "key" to removing difficulties, paving the way for the breakthrough development of this sector, thereby shaping the national economy.

At the local level, Dang Van Diem, Chairman of the Dong Nai Business Federation stated: Through surveys, the business community desires to be facilitated in accessing land, production premises, green credit capital flows, and support for connecting to the production supply chain. The business community hope the government continues to improve the business environment, creating conditions for the enterprises to develop, especially in the current difficult context.

The encouraging thing, according to Dang Van Diem, is that with Resolution 68-NQ/TW, for the first time, the role of the private economy is identified as the most important driving force for development. Over the past time, to concretize the above resolution, many policy programs and activities of the Government, ministries, sectors, and localities have been implemented to affirm and promote the development of the private economy. This is both an opportunity and a challenge, requiring the business community to be dynamic in seizing opportunities and striving to develop.

On the government side, in many programs to meet and interact with the business community in the area, Comrade Vo Tan Duc, Deputy Secretary of the Provincial Party Committee, Chairman of the Provincial People's Committee, affirmed: Dong Nai determines the private economy plays an important role in the local economic development. The private economy contributes over 60% of the total social investment capital and makes a large contribution to the state budget. Therefore, the province is building policies to support small, micro, and medium-sized businesses, and business households to convert their business type into enterprises. Dong Nai will gradually remove bottlenecks, barriers, and obstacles and pay attention to listening to the opinions of the business community, including private enterprises, to create a competitive environment and development advantages for local enterprises.

Strongly developing economic components

The Resolution of the first Dong Nai provincial Party Congress, term 2025-2030, determines that the province will expand economic components, contributing to achieving double-digit growth.

Accordingly, Dong Nai will establish a fair and transparent business environment to support the sustainable development of enterprises and economic components. The province will accelerate the development of the private economy, exploiting the potential and creativity of the people and enterprises. Dong Nai will develop a team of entrepreneurs with ethics, business culture, patriotism, bravery, intellect, national self-esteem, and aspiration for contribution. Its orientation also includes the development of state-owned enterprises with a leading role and international competitiveness in key areas such as: technology, digital transformation, finance, agriculture, and telecommunications. Dong Nai will enhance the mechanism for assigning strategic tasks to capable businesses.

Focus will be placed on improving the capacity and scale of local enterprises. Innovating and enhancing the efficiency of the collective economy will be associated with encouraging types of cooperatives to grow strong. Priority will be given to the development of the collective economy associated with high-tech agriculture, digital economy, green economy, and circular economy, shared economy.

According to experts' assessments, the merger to form the new Dong Nai province will help the locality promote its inherent advantages, continue to attract investment capital, and expand the development space into high-competition industries and sectors.

Many policies supporting enterprises' access to land

Implementing Resolution 68 of the Politburo on May 4, 2025, on the development of the private economy, the National Assembly passed Resolution 198 of 2025 on May 17, 2025. Resolution 198 sets out many special mechanisms and policies to create favorable conditions for the private economic sector to develop strongly and sustainably, including the issue of land access.

Accordingly, localities are entitled to use the budget to support investment in infrastructure for industrial parks and industrial clusters, creating conditions for small and medium-sized enterprises, high-tech enterprises, and innovative start-up enterprises.

Some specific policies are: Allocating a minimum of 20 hectares/industrial park or 5% of the total area of the industrial parks for high-tech enterprises belonging to the private economic sector, small and medium-sized enterprise, and innovative start-up enterprises to lease or sub-lease.

A minimum 30% reduction in land sub-lease payments for the first 5 years from the date of signing the land lease contract with the industrial park or industrial cluster infrastructure business investor, or technology incubator. This support amount will be reimbursed to the investor by the State.

In addition, in cases where a newly established industrial park or industrial cluster has not received support from the State, if no enterprise eligible for preferential land lease is present after 2 years from the date of infrastructure completion, the industrial park or industrial cluster infrastructure investor is entitled to lease or sub-lease the land to other enterprises.

Recorded by Van Gia

In parallel, the economic scale and geographical location also create conditions for enterprises in the province to connect and cooperate for mutual development. For example, with the Dong Nai young Entrepreneurs Association, after merging with the Binh Phuoc young Entrepreneurs Association, the association now has over 700 members. Dang Quoc Nghi, Chairman of the Dong Nai young Entrepreneurs Association, said: Connecting members and creating opportunities for enterprises to cooperate is a regular activity of the association. The Dong Nai young Entrepreneurs Association also encourages enterprises to cross-use each other's products, goods, and services, promoting linkage and cooperation activities within the young entrepreneurial community and linking and cooperating with external organizations and enterprises. At the same time, the association will actively act as a "bridge" between the State and enterprises for the common development goal of the locality.

By Vuong The - Translated by Diec Quyen – Thu Ha