Vietnamese party leaders and the business community convened on May 10 in Hanoi in a landmark event to delve into the implementation of Resolution 41, a Politburo resolution designed to empower Vietnamese entrepreneurs in the modern era.

The conference, a collaborative effort by the Central Propaganda Department, the Central Economic Committee, and the Vietnam Confederation of Commerce and Industry (VCCI), witnessed a gathering of over 4,300 participants, both physically present and virtually connected.

Esteemed attendees included Nguyen Trong Nghia, Secretary of the Party Central Committee and Head of the Central Propaganda Department, and Le Minh Khai, Secretary of the Party Central Committee and Deputy Prime Minister.

Nguyen Duc Hien, Deputy Head of the Central Economic Commission, took the stage to elucidate the key tenets of Resolution 41, a blueprint aimed at cultivating a robust and dynamic private sector.

The resolution places a strong emphasis on fostering a favorable business environment, enhancing competitiveness, and promoting innovation as cornerstones of economic growth.

Tran Duy Dong, Deputy Minister of Planning and Investment, unveiled the government's action program for implementing the resolution, showcasing initiatives to streamline administrative procedures, reduce regulatory burdens, and expand access to finance.

These strategic measures are intended to create a conducive environment for businesses to flourish.

Pham Tan Cong, Secretary of the Party Union and Chairman of VCCI, shared the VCCI's action plan, spotlighting the organization's commitment to strengthening the capacity of Vietnamese businesses, promoting corporate social responsibility, and advocating for business-friendly policies.

This multi-pronged approach aims to empower businesses to contribute meaningfully to society while ensuring a level playing field.

The government has set its sights on ambitious targets for the development of the Vietnamese private sector. By 2030, the vision encompasses at least two million businesses, with many entrepreneurs at the helm of strong economic corporations that compete effectively both domestically and internationally.

Additionally, the government envisions at least ten Vietnamese businessmen on the list of world billionaires and five among the most powerful in Asia, underscoring the aspiration for global recognition and influence.

Looking further ahead to 2045, the government's ambition extends to Vietnamese corporations leading industrial and agricultural value chains.

This would be coupled with the emergence of a cohort of Vietnamese entrepreneurs equipped with the scale, capacity, and qualifications necessary to meet national development goals while achieving high income, position, and prestige on the regional and international stage.

The recent issuance of Resolution 66/NQ-CP on May 9, 2024, serves as a testament to the government's dedication to implementing Resolution 41.

This resolution aligns seamlessly with the government's overarching socio-economic development strategy and its unwavering commitment to fostering a market-oriented economy.

The Hanoi conference stands as a pivotal moment in the government's concerted efforts to nurture a thriving private sector. By forging a strong partnership with the business community, the government aspires to unlock the full potential of Vietnamese entrepreneurs and propel economic growth to new heights.

As the implementation of Resolution 41 unfolds, its transformative impact on the Vietnamese economy is eagerly anticipated. By empowering entrepreneurs and fostering a dynamic private sector, the government aims to create employment opportunities, enhance productivity, and elevate living standards.

The Hanoi conference, therefore, represents a crucial milestone in this journey, and the progress made in implementing the resolution will undoubtedly capture the attention of businesses and investors worldwide.