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22 May 2025
T Dao
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Over the past year, the Vietnamese government has actively expanded and updated new policies to strengthen the national economy through redefining various initiatives. Recently, the official issuance of Resolution 68 has embarked on a breakthrough shift in the position of the private sector, from being an important part to becoming a key driver of the national economy. The effect of Resolution 68 signifies the government’s new direction towards an economy driven by fairness, accelerated procedures for entry and access to resources, and elimination of legal barriers that prevent business growth.
This critical milestone opens a bright opportunity for private domestic and FDI enterprises to further enhance their business in Vietnam, contributing to leveraging the national economy’s attractiveness and deep integration into the global supply chain. Resolution 68 lays the foundation for Vietnam to become a leading innovation hub in the region with a focus on innovation, technology, and digital transformation.
The resolution fosters a dynamic and competitive private sector, encouraging collaboration between domestic and foreign enterprises, facilitating technology transfer, and capacity building. This collaborative environment not only enhances the competitiveness of individual companies but also strengthens Vietnam’s position in the global market.
After more than 40 years of implementing economic reforms, the private sector has steadily grown and become a crucial driver in Vietnam’s modern economy. However, there are still many barriers that hinder or complicate the development of the private sector. As a result, Resolution 68 is expected to provide a new stepping stone for the private sector to break through and be given more opportunities to play a more significant role in the national economic development strategy.
The resolution emphasizes the goal of making the private sector “the most important driving force in the economy, a pioneering force to promote growth, create jobs, increase labor productivity, national competitiveness, industrialization, and modernization.” Accordingly, the resolution outlines specific visions, including:
The focus of Resolution 68 includes promoting the private sector’s involvement in innovation, digital transformation, and the development of science and technology. This demonstrates Vietnam’s strong determination to shape its economic development towards modernization, enhancing its position and role in the global innovation process. With the vision of becoming one of the top 5 countries in terms of technological capacity and innovation, the resolution outlines specific policies for this sector, including:
With policies and orientations that emphasize the role of private enterprises in innovation, Resolution 68 is set to create a major turning point for Vietnam to strengthen its position in the global IT value supply chain. This will also open up new opportunities to promote strategic cooperation and collaboration between Vietnamese and international businesses in high-tech research. International enterprises that choose to cooperate and invest in Vietnam will benefit greatly from several factors:
To implement Resolution 68, NTQ will work alongside Vietnamese technology companies to maximize its role and make significant contributions to the national digital economy development process in various aspects, including:
We believe that with our strong commitment to leveraging resource competencies, driving global collaboration, and maximizing new technologies, NTQ will play a key role in advancing the national digital economy, thereby helping to realize the goals and strategies outlined by Resolution 68 from the government.
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