Unblocking bottlenecks for private economy

Enterprises expect Resolution 68 to create momentum to promote stable and sustainable development (Photo: workers of Van Phuc Cosmetics Production, Trade and Service Company complete products to deliver to partners)

Create strong motivation

The private economy has truly become the leading driving force for growth and innovation in the province; has had positive developments in terms of quantity, scale and quality; has made important contributions to GRDP growth, economic restructuring and job creation, improving income and quality of life for the people.

According to the People's Committee of Tay Ninh province, the private economic sector contributes 60.4% of the economic scale, 24.2% of the total budget revenue and creates jobs for more than 77% of the province's workforce. Many private enterprises are constantly growing, affirming their brands, and reaching out to regional and international markets. This is the clearest evidence of the potential, courage and aspirations of the Tay Ninh private business community.

Van Phuc Cosmetics Production, Trade and Service Company has gradually affirmed its brand in the market. Facing many difficulties, the enterprise has gradually innovated, creating a high value chain in the market. The company's products have been exported to India and Southeast Asia.

According to Director of Van Phuc Cosmetics Production, Trading and Service Company Nguyen Thanh Hung, in addition to self-improvement of quality and increasing market search for products, timely support from mechanisms and policies of the State and local authorities has also helped enterprises gradually stabilize production and business. In particular, the issuance of Resolution 68 by the Politburo not only recognizes the contributions of the private economy to the development of the country but also motivates small and medium enterprises to continue to make efforts and develop. The resolution demonstrates great determination in supporting and promoting all aspects for domestic enterprises.

Lomeko Vietnam Joint Stock Company has invested in the province since 2023. During its operation, the local authorities promptly resolved the company's difficulties, helping the company feel secure in developing production and business.

According to the representative of Lomeko Vietnam Joint Stock Company, Vo Nguyen Thien Du, the province creates very favorable conditions for businesses in the process of operation. "In addition, Resolution 68 will create motivation, create a complete legal framework, support easy access to capital, thereby promoting innovation and comprehensiveness for businesses. We expect Resolution 68 to create a transparent, competitive, equal and risk-minimizing investment and business environment, creating momentum for sustainable development of the private economic sector."

Strongly developing the private economic sector in the new period is an inevitable and urgent requirement, both an important driving force and a breakthrough solution.

To bring resolution 68 into life

Tay Ninh strives that by 2030, the private economic sector will maintain an average growth rate of about 10% per year, contributing over 62% of GRDP, over 35% of total budget revenue, and at the same time creating jobs for about 84% of the workforce (Illustration photo)

According to the Provincial People's Committee, the private economic sector is still facing many difficulties and challenges. Most enterprises are small-scale, so their financial capacity is limited; their management, science and technology levels do not meet the requirements in the context of increasingly fierce competition; labor productivity, production and business efficiency and competitiveness are still low compared to their potential; etc.

Removing barriers, clearing bottlenecks, and creating a favorable environment for the development of the private economic sector have become urgent requirements and has strategic significance for local development. The province has been realizing Resolution 68 through programs and plans with specific goals.

By 2030, the province strives to have over 66,000 enterprises, forming large enterprises capable of participating deeply in domestic, regional and global value chains; the private economic sector maintains an average growth rate of about 10%/year, contributing over 62% of GRDP and over 35% of total budget revenue, and at the same time creating jobs for about 84% of the workforce.

By 2045, Tay Ninh province is expected to have over 160,000 enterprises, the private economic sector will contribute over 65% of GRDP and over 40% of total budget revenue; create jobs and form a number of large private economic groups with strong brands in the country and the region.

Vice Chairman of the People's Committee of Tay Ninh province Huynh Van Son emphasized that strongly developing the private economic sector in the new period is an inevitable and urgent requirement, both an important driving force and a breakthrough solution to help Tay Ninh province become a rich, beautiful, civilized and modern locality.

The province focuses on key tasks to sustainably develop the private economy. In particular, it continues to innovate thinking and perfect institutions, promote administrative reform, build a transparent, open, and competitive investment and business environment; expand access to development resources for the private sector; closely link vocational training and higher education with the practical needs of businesses; promote technological innovation, digital transformation and green development, encourage businesses to invest in advanced technology, improve productivity, and participate deeply in domestic and global value chains./.

By Thanh My -Translated by Lien Thanh

Source: https://baolongan.vn/khoi-thong-diem-nghen-de-kinh-te-tu-nhan-but-pha-a202273.html