More than 100 representatives from the private sector attended a conference on May 27, organised by the Central Policy and Strategy Commission (CPSC) in coordination with the Viet Nam Chamber of Commerce and Industry (VCCI), to offer ideas on renewing the country’s development model.

With a total investment of 4 billion USD, the Sunshine R&D Centre in Dai Phuoc Urban Area, Dong Nai City, is the largest research and development (R&D) centre investment ambition ever undertaken by Viet Nam’s private sector.

Viet Nam’s private sector stands before a significant opportunity for breakthrough growth, as development policies have become clearer, reform signals stronger, and the sector’s role increasingly central to national development strategies.

A series of Politburo resolutions is placing new demands on Viet Nam’s growth model, particularly in Ho Chi Minh City, making it essential to reassess the roles of key economic sectors and improve coordination between the state and the market to sustain rapid and durable growth.​

In the Mekong Delta, where livelihoods are closely tied to land, unlocking rural potential as a space for business is seen as key to fostering private sector development and improving farmers’ incomes.

The Politburo’s Resolution 68 on private sector development is widely seen as opening new opportunities that enable Dong Nai Province to better optimise its resources and drive stronger economic breakthroughs than ever before.

The documents of the 14th National Party Congress identify the development of the private sector as one of the most important growth drivers — a continuation that builds on and reaffirms the Party’s view set out in Politburo Resolution No. 68-NQ/TW dated May 4, 2025, on private-sector development.

In Ha Noi, the implementation of the Politburo’s Resolution No. 68-NQ/TW on private-sector development has generated strong momentum, helping to revitalise the private sector and affirm its position as the most important driving force of the capital city’s economy.

Prime Minister Pham Minh Chinh called for accelerated digitalisation, greening efforts, resource optimisation, smart governance, and balanced interests among private firms while chairing the fourth session of the National Steering Committee for the implementation of the Politburo’s Resolution 68-NQ/TW on private sector development in Ha Noi on January 31.

A seminar themed “Resolution No. 57-NQ/TW and Resolution No. 68-NQ/TW: Foundation for private enterprises to break through in science, technology, innovation and digital transformation” was held jointly by Nhan Dan Newspaper and the Party Central Committee’s Commission for Policies and Strategies on January 9.

Nhan Dan Newspaper, in coordination with the Party Central Committee’s Commission for Policies and Strategies, held a seminar entitled “Resolution No. 57-NQ/TW and Resolution No. 68-NQ/TW: A foundation for private enterprises to break through in science, technology, innovation and digital transformation” in Ha Noi on January 9.

Prime Minister Pham Minh Chinh underscored the principle of “trust, action, substance, effectiveness, and breakthroughs” for private sector growth in his closing speech at the third meeting of the National Steering Committee implementing the Politburo’s Resolution 68 in Ha Noi on December 20.

The private sector has shown marked progress eight months after the launch of Resolution 68, registering about 18,000 new enterprises monthly and pushing the nationwide total to nearly 1.1 million, Prime Minister Pham Minh Chinh told the third meeting of the National Steering Committee in Hanoi on December 20.

Prime Minister Pham Minh Chinh chaired the second meeting of the national steering committee for implementing the Politburo’s Resolution No. 68/NQ/TW on the private sector development on November 1.

The Viet Nam Young Entrepreneurs Association (VYEA) announced in Ha Noi on October 8 the summary report of Viet Nam Private Sector Forum 2025 (VPSF 2025) and launched a programme to train 10,000 chief executive officers (CEOs) from 2025 to 2030, marking a major step towards implementing initiatives proposed at the forum’s high-level session held last month.

Deputy Prime Minister Nguyen Chi Dung on September 29 signed a decision approving a programme to encourage private enterprises to take part in developing telecommunications and other infrastructure for national digital transformation through 2030.

Young entrepreneurs, experts, and business community representatives joined a high-level dialogue on September 16 to exchange views on opportunities, challenges, and practical solutions to foster the sustainable growth of Viet Nam’s private sector.

Viet Nam now has more than 940,000 private enterprises and over 5 million household businesses, contributing approximately 50% of GDP, over 30% of state budget revenue, and employing 82% of the national workforce.

After nearly 40 years of reform, Viet Nam’s private sector has made remarkable progress in both scale and quality, steadily affirming its role in the socialist-oriented market economy. However, the sector still faces shortcomings that must be addressed swiftly to become a pillar of national economic development.

Prime Minister Pham Minh Chinh has called for the mobilisation of the strength and resources of the entire nation and society to drive economic development as a whole, including the private sector, with the aim of delivering both material and spiritual benefits to the people.