Hanoi (VNA) – Innovation and private sector development should have no bounds, aiming to achieve the national goals of prosperity, strength, democracy, equity, and civilised society in this new era, said Prime Minister Pham Minh Chinh.

The cabinet leader made the statement on May 8 at a working session with the Government's policy advisory council to gather input on the National Assembly (NA)’s draft resolution concerning specific mechanisms and policies to promote the development of the private economic sector, in line with the Politburo’s Resolution No. 68-NQ/TW, dated May 4 this year.

The proposed policies are grouped into three categories. The first two involve mechanisms requiring immediate legal codification or amendment. The third includes longer-term, strategic orientations that are not urgent and necessitate thorough study and evaluation.

Discussions at the session centred on proposals regarding land and production site access; access to capital, training and utilisation of high-quality human resources, support for science and technology application in business operations, tax, fee, and charge frameworks, and administrative reform and simplification, among other issues.

Noting the principle of a facilitating state, people as the foundation, enterprises at the centre and as key actors, and institutions and policies as the driving force, the Government leader required the forthcoming NA resolution institutionalise Resolution 68 to enable the rapid, sustainable growth of the private sector, positioning it as a principal engine of the national economy.

PM Chinh called for a comprehensive review and revision of policies to encourage business freedom, foster healthy competition among enterprises, and ensure equal access to capital, land, and public assets. He also highlighted the need for market-oriented training, tailored to enterprise needs, through mechanisms allowing businesses to commission educational institutions.

In addition, he directed the development of a legal framework that recognises and clearly defines intangible assets held by enterprises, while reaffirming the principle that civil and economic relations must not be criminalised.

✅ The PM requested the drafting committee finalise the draft resolution, solicit input from cabinet members, provincial and municipal People’s Committee chairpersons, business associations, and the wider business community, before submitting the completed document to the NA by May 12. It is scheduled for review and adoption by the legislature before May 18./.