Resolution 68 fuels private sector growth

Nearly one year after its issuance, Resolution No. 68-NQ/TW dated May 4, 2025 by the Politburo on private sector development (Resolution 68) has generated tangible spillover effects on the growth of Vietnam’s business community.

Workers at a private enterprise in Dong Nai. Photo: Vuong The.

To turn policy into action, a series of cross-sector measures have been rolled out to drive private sector growth. In Dong Nai, authorities are focusing on studying mechanisms and policies, removing bottlenecks and creating favorable conditions for private enterprises to grow stronger and achieve sustainable growth.

Driving force from Resolution 68

The National Steering Committee for the Implementation of Resolution No. 68 of the Politburo assessed that in 2025, Vietnam saw broad-based socio-economic gains across all sectors, highlighting the resilience and momentum of its growth trajectory. These outcomes were partly driven by the effective implementation of Resolution 68, particularly through the contributions of the business community and entrepreneurs. These results have contributed to building momentum, generating a driving force, and establishing a solid foundation to accelerate private sector development in line with set goals, while reinforcing confidence among business community and society in private sector development.

One of the most visible impacts of the resolution and its policy implementation has been the creation of an environment conducive to the establishment and development of businesses. In 2025, Vietnam saw 195,100 newly registered enterprises, with total registered capital exceeding VND1.9 quadrillion and a registered workforce of 1.1 million, marking an increase of 24.1% in both the number of enterprises and capital, and up 15% in employment compared to 2024.

Meanwhile, the Provincial Steering Committee for supporting businesses and economic development has been strengthened to improve the investment climate and attract investment inflows, in line with Resolution 68 and the resolution of the first Dong Nai Party Congress for the 2025–2030 term. The province has identified private economic development as a key goal in its economic development strategy.

According to Ho Si Hung, Chairman of the Vietnam Chamber of Commerce and Industry, the business community has clearly felt the positive changes brought about by state policies and ongoing reforms. Enterprises have also expressed appreciation for the transparency and effectiveness of new policy implementation. If reform momentum is sustained, and bottlenecks in capital, land access and legal procedures are addressed, the growth potential of Vietnam’s business community in 2026 will be significant. This is expected to serve as a pivotal year for enterprises not only to recover but also to expand, deepen integration and contribute more substantially to sustainable economic growth.

As one of the country’s major industrial hubs, Dong Nai has been investing in modern large-scale infrastructure, including expressways, airports, seaports and urban areas, thereby attracting strong foreign investment inflows. This, in turn, creates favorable conditions for private enterprises to grow continuously, particularly in supplying and processing goods for FDI partners within the province.

According to the Department of Finance, since the issuance of Resolution 68, nearly 8,100 new enterprises have been registered in Dong Nai, with total registered capital exceeding VND62.1 trillion. The highest surge in the number of enterprises and registered capital during the 2021–2025 period serves as a key indicator of the effectiveness of the province’s policy measures.

Following the resolution’s introduction, Dong Nai has actively implemented solutions to bring it into practice. On September 4, 2025, the Provincial Party Committee issued Plan No. 23-KH/TU to concretize the goals of Resolution 68. More recently, the Provincial People’s Committee launched a plan to implement the Prime Minister’s decision approving an inter-sectoral legal support program for small and medium-sized enterprises and household businesses for the 2026–2030 period. Provincial departments, agencies, localities and business associations have also rolled out various support measures, creating momentum for private enterprises to connect and grow together.

Placing enterprises at the heart of policy

From the perspective of a national organization representing the business community, Ho Si Hung emphasized the need to establish a solid foundation for the private sector to contribute effectively to high and sustainable growth targets. This includes ensuring a stable, transparent and predictable legal environment. Enterprises are more likely to make long-term investment, innovate and scale up when they feel secure, protected and supported.

Equally important, enterprises need more support to gain access to essential resources such as credit, land and technology. In parallel, strategic solutions are needed to strengthen the internal capacity of enterprises, enabling them to integrate more effectively into global value chains.

To date, more than 115,000 private business entities have been registered across Dong Nai on the national business registration portal. The province aims to establish around 36,000 new enterprises in the 2026–2030 period, with the private sector expected to contribute 55–58% of GRDP, 35–40% of state budget revenue, and generate employment for approximately 84–85% of the workforce.

For Dong Nai, the province regards the development of its business community as synonymous with its own development. Nguyen Kim Long, Standing Vice Chairman of the Provincial People’s Committee, affirmed the consistent principle of “government accompanying businesses.” The province will continue to improve the investment environment, provide maximum support for business development and proactively resolve difficulties and bottlenecks. In governance and administration, local authorities consider challenges faced by businesses as their own, thereby ensuring timely and effective solutions.

For the business community in Dong Nai, the province’s position, potential and advantages have strengthened the enterprises’ confidence in growth prospects. According to Nguyen Duy Khuong, Chairman of the Board of Directors of 939 Investment Trading JSC and Vice Chairman of the Vietnam Young Entrepreneurs Trade and Investment Promotion Club, Dong Nai is well-positioned for experiencing an economic boom in the coming years, offering opportunities for enterprises to expand. He urged young firms to invest in technology, digital transformation and smart logistics to scale up, improve product quality and deepen their participation in production value chains.

By Vuong The – Translated by M.Nguyet, Thu Ha