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.

Prime Minister Pham Minh Chinh.

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.

Viet Nam, US step up negotiations on economic, trade issues

Minister of Industry and Trade Nguyen Hong Dien, who leads the Government’s negotiation delegation on reciprocal trade agreement with the US, met with US Ambassador Marc E. Knapper in Ha Noi on May 7 to advance ongoing negotiations addressing bilateral economic and trade matters.

Rollout of 500-trillion-VND credit package for infrastructure, technology firms accelerated

The credit package was initiated by the Prime Minister in late March, following the positive results of the earlier credit package for agriculture, forestry, and fisheries, which was quickly expanded from its initial 15-trillion-VND scale.

 

HCM City needs over 10,000 workers

In addition to complying with regulations in the Labour Code, many companies offer extra benefits such as employee shuttle services, fuel allowances, housing support, and meal subsidies.

 

Bac Giang ranks fourth nationwide in provincial competitiveness index

BAC GIANG - On May 6 in Hanoi, the Vietnam Chamber of Commerce and Industry (VCCI) held a ceremony to release the 2024 Provincial Competitiveness Index (PCI) report. The event was attended by VCCI Chairman Pham Tan Cong and Bac Giang delegates including Nguyen Van Gau, Member of the Party Central Committee and Secretary of the Provincial Party Committee, and Nguyen Viet Oanh, Chairman of the Provincial People’s Committee.

FDI inflow into Vietnam surges by nearly 40% in four months

While newly-registered capital declined by 23.8% to 5.59 billion USD, additional capital injections into existing projects increased nearly 3.9 times to 6.4 billion USD. Capital contributions and share purchases in the four months reached 1.83 billion USD, or a 2.1-fold increase year-on-year.

 

Viet Nam posts trade surplus of 3.79 billion USD in four months

Viet Nam’s export earnings grew by 13% to 140.34 billion USD, while its import turnover rose by 18.6% to 40.74 billion USD, resulting in a trade surplus of 3.79 billion USD in the reviewed period.