All major economic indicators in the first five months of 2025 point to a robust and broad-based recovery, aligning with the Vietnamese Government’s ambitious target of 8% annual GDP growth.

The Politburo’s Resolution 68, signed by General Secretary To Lam on May 5, sends a strong commitment from the Party to turn the private economic sector into the most critical driver of the national economy.

Economists all agree that there are no reliable statistics about the size of the private economic sector and call this a ‘gray area’ in statistical work that needs to be clarified.

From tech-savvy retirees to market vendors, many are struggling to adapt to new tax rules.

The World Bank (WB) has urged Vietnam to take urgent action to adapt to climate change, in addition to its policy recommendations to improve public investment efficiency, strengthen accountability, and enhance the legal framework.

If Resolution 68 can be implemented effectively, this could mark a pivotal turning point, the third breakthrough in the history of the private sector's development in Vietnam, according to National Assembly Deputy Phan Duc Hieu.

Cumbersome processes and administrative gridlock have blocked USD 235 billion worth of investment projects across Vietnam.

"We’re concerned that overly high incentives for household businesses and small enterprises might discourage them from growing," said Finance Minister Nguyen Van Thang during discussions on the draft Resolution on private sector development.

Development must ultimately bring benefits and happiness to the people. That’s why a delicate balance is needed between state power, freedom, democracy, and social dynamism.

Resolution 68 has reignited a national ambition: to transform Vietnam’s private sector into the driving force of the economy. But whether this vision becomes reality depends entirely on how we act.

With the right institutional reforms and belief in its people, Vietnam can achieve sustained growth like its Asian peers.

Experts urge constitutional compliance, institutional overhaul to unshackle businesses.

With trillions in projects stalled, institutional reform emerges as Vietnam’s most urgent national task.

Experts believe that Resolution 68 introduces breakthrough policies to support the rapid, safe, and healthy development of the private sector while restoring confidence and motivation for private enterprises.

According to National Assembly deputy Phan Duc Hieu, successful implementation of Resolution 68 could mark the third major breakthrough in the history of Vietnam’s private sector development.

Vietnamese enterprises call for equal policy support to unleash their full economic potential.

Resolution 68 is expected to help dismantle constraints on both the institutional regime and the prevalent mindset, creating a new environment for private enterprises to thrive.

Although the 2013 Constitution guarantees the right to free enterprise, the investment approval process stipulated in the Investment Law continues to obstruct this constitutional freedom.

From factories halted to licenses denied, small businesses face land access barriers across Vietnam.

While American tech giants lead the world in profits, Vietnam’s banking sector is the top earner.