Hanoi alone sees over 25,000 new businesses registered annually, on average, bringing the total number of active enterprises in the city to approximately 410,000, with the vast majority being small and medium-sized enterprises (SMEs).

Currently, Vietnam has over 940,000 active businesses, with SMEs accounting for 97% of the total.

With the Politburo's Resolution No. 68 on private economy development, Vietnam aims to have 2,000,000 businesses by 2030, meaning two enterprises for every 1,000 people. To achieve this goal, it is crucial to enhance the competitiveness of private enterprises to ensure their sustainable and highly competitive development. This means not only excelling in the distribution and supply of products and services in domestic markets but also successfully integrating private enterprises into global markets.

Mr. Mac Quoc Anh, Vice Chairman of the Hanoi Association of Small and Medium Enterprises, emphasized that the private sector has played a significant role in promoting administrative procedure reform and institutional improvements. It has also proactively engaged in dialogue with state agencies, the government, and various ministries and sectors to resolve numerous difficulties and obstacles.

To enhance the competitiveness of private enterprises, Resolution No. 68 has provided a significant boost, calling for a reduction of over 30% in administrative procedures. This creates new opportunities and room for private enterprises to develop.

The banking system has allocated preferential capital and eased lending conditions for private enterprises. Beyond capital and market access, Resolution 68 also requires private enterprises to innovate in science and technology and successfully integrate globally.

Regarding the overall contribution to the economy, in the first eight months of 2025, the number of newly established businesses and those re-entering the market increased by over 20%. Registered capital flowing back into the market also rose by over 30%. This clearly demonstrates that the private sector's contribution has effectively realized the practical and meaningful impact of Resolution 68.