Resolution 68 marks a pivotal shift in Vietnam’s economic philosophy. For the first time, the private sector is officially recognized as “one of the most important driving forces” of the national economy - on equal footing with the state-owned and collective economies. Together, these three pillars are envisioned as the tripod foundation of an independent, self-reliant, and deeply integrated economic system.

This recognition demands a transformative change in how the private sector is treated. It calls for firm protection of property rights and the freedom to do business; dismantling barriers to land access, credit, market entry, and technology; fostering a level playing field; supporting a thriving startup ecosystem; and cultivating a new generation of entrepreneurs with competence, integrity, and global vision.

Resolution 68 lays the foundation for building strong private corporations capable of participating in global value chains.

From applying technology to mastering it

Resolution 57 defines science, technology, innovation, and digital transformation as the backbone and primary engine of Vietnam’s new growth model.

It signifies a paradigm shift - from merely “applying technology” to “mastering technology,” and from viewing science as supportive to making it central to development. The resolution urges the removal of outdated mindsets and promotes a culture of bold thinking, action, and innovation. It calls for institutional reform toward openness and enablement, building a national innovation ecosystem, boosting enterprise R&D, and developing digital platforms and data infrastructure.

Without this pillar, Vietnam will struggle to generate endogenous productivity growth - critical for competing in the digital economy and Industry 4.0 era.

Modern law as the ‘operating system’ of the economy

Resolution 66 targets the very foundation of governance: comprehensive reform in lawmaking and enforcement. It shifts the legal mindset from “management” to “service,” and from reactive regulation to proactive, guiding legislation.

This means building a legal system that is consistent, transparent, predictable, and stable. Lawmaking must be proactive, scientific, and closely aligned with fast and sustainable development goals. Legal enforcement must be strict and come with clear accountability. Decentralization must go hand-in-hand with eliminating the outdated “ask-give” mechanism.

A modern legal system acts as the operating system of the entire economy. Without deep reform, efforts to develop the private sector or drive innovation will inevitably be stifled.

Integration as a strategic engine for national progress

Resolution 59 positions international integration as a strategic driver of national development. Integration is no longer seen as a government-led initiative - it is a national mission, with citizens and businesses at its core.

The resolution emphasizes that domestic strength is decisive in determining integration outcomes, while external support remains complementary. Integration must be proactive, adaptive, and deeply tied to the goal of building an independent, self-reliant economy.

Key directives include: leveraging new-generation free trade agreements (FTAs); expanding into the digital economy, green economy, and circular economy; strengthening strategic partnerships; enhancing workforce quality; and developing globally competent integration experts. Effective integration will expand markets and bring capital, technology, and knowledge into the domestic economy.

A synergistic reform ecosystem

These four resolutions reinforce one another: without transparent laws, private enterprises cannot thrive; without strong private players, innovation lacks scale; without innovation, integration adds little value; and without active integration, the momentum for domestic reform fades.

If implemented thoroughly and decisively, this quartet could represent Vietnam’s second Doi Moi (renovation) - a breakthrough moment to transcend the limitations of the old growth model, escape the middle-income trap, and embark on a new era of prosperity with the goal of becoming a high-income developed country by 2045.

Lan Anh