On May 4, 2025, Vietnam marked a turning point in its economic strategy with the signing of Resolution No. 68 by Party General Secretary Tô Lâm, establishing the private sector as the central force in the country’s socialist-oriented market economy. This landmark directive aims to empower private enterprises to lead Vietnam’s growth, innovation, and global competitiveness. It proposes sweeping reforms, ambitious targets, and a call to eliminate long-standing biases and barriers that have historically hindered private sector development. Since the Doi Moi reforms of the 1980s, Vietnam’s private sector has evolved from small family-run shops into a vital economic pillar, contributing significantly to GDP, employment, and innovation. Despite this progress, Resolution 68 acknowledges that growth has been held back by outdated perceptions, legal inconsistencies, and limited access to resources. The resolution outlines a bold vision to address these challenges and unlock the sector’s full potential, positioning it as a driving engine of the national economy and a key player in achieving Vietnam’s long-term development goals. (ICE HO CHI MINH CITY)

Fonte notizia: The Saigon Times