While Resolution 79 establishes the guiding, stabilizing, and orienting role of the state economy, Resolution 68 expands development space and unleashes the full potential of the private sector. The two resolutions are not separate but complementary, creating a synergistic push for the structure and growth drivers of Vietnam’s economy in the coming period.

Resolution 79-NQ/TW emphasizes that the state economy plays a leading role in ensuring macroeconomic stability and maintaining strategic pillars such as energy security, finance and banking, and critical infrastructure. Its focus is not merely on scale, but on improving the quality and efficiency of state-owned enterprises (SOEs).

The document sets ambitious targets: by 2030, approximately 50 SOEs are to be among the Top 500 largest enterprises in Southeast Asia, with at least 1–3 enterprises entering the Global Top 500. This is not simply a goal for rankings; it reflects the requirement to elevate the competitiveness, governance, and innovation capacity of the state economic sector amid deep integration. 

Resolution 79 requires SOEs to pioneer digital transformation, apply new technologies, and lead foundational economic sectors, thereby creating a "backbone" for the economy and minimizing risks from external shocks.

While Resolution 79 consolidates the pillar of stability, Resolution 68-NQ/TW creates a turning point in developmental thinking by affirming for the first time that the private economy is the most important driver of the national economy. This is not just a change in terminology, but a repositioning of the private sector's role in the long-term growth structure.

Resolution 68 sets clear indicators for 2030: approximately 2 million active private enterprises, contributing 55–58 percent of GDP, creating jobs for 84–85 percent of the workforce, and contributing 35–40 percent of total state budget revenue. 

The vision for 2045 is even more ambitious, with a target of at least 3 million private enterprises contributing over 60 percent of GDP. More importantly, Resolution 68 focuses on removing structural bottlenecks that have constrained the private sector for years, particularly in accessing capital, land, resources, and investment opportunities, while emphasizing the protection of property rights and the freedom of business.

2 solutions, 1 goal

One of the most significant synergistic impacts of Resolutions 79 and 68 is the promotion of more consistent institutional reform. When the state economy is required to operate under market principles with transparency and efficiency, the overall competitive environment improves, creating fairer conditions for private sector development.

Conversely, the growth of the private sector exerts positive pressure on SOEs to innovate governance, optimize resources, and improve efficiency. This two-way interaction helps reduce the “ask–give” mechanism, limit market distortions, and enhance investor confidence, both domestic and foreign.

The two resolutions also clearly allocate roles to optimize economic strength. Resolution 79 directs the state economic sector to focus on the fields where the private sector finds it difficult or is not yet able to participate effectively, such as strategic infrastructure, energy security, finance and monetary systems, and foundational industries. This role helps create a runway for long-term and stable growth.

Meanwhile, Resolution 68 expands space for the private sector in mobilizing capital, accessing land, technology, and labor. When both resolutions are implemented in a coordinated manner, social resources can be allocated more efficiently: the state economy provides leadership and stability, while the private sector brings flexibility, creativity, and efficiency in production and business. This synergy is most evident in public–private partnership models, where both sectors jointly invest and develop markets.

The resolutions also reinforce innovation-driven growth, shifting from extensive to intensive development. Resolution 68 emphasizes fostering entrepreneurship, promoting innovation, and improving labor productivity in the private sector. Meanwhile, Resolution 79 requires SOEs to pioneer technological application, digital transformation, and leadership in key industries.

If so, the economy can form new linkages in which SOEs act as technology, standards, and market anchors, while private enterprises participate deeply in production, services, and innovation. This forms the foundation for transforming the growth model from extensive to intensive, based on quality and efficiency.

Conditions to be effective

The synergistic impact of Resolutions 79-NQ/TW and 68-NQ/TW will only materialize with consistent and coordinated implementation. This requires completing the legal framework, strengthening policy execution capacity, and enhancing coordination across levels and sectors.

Tu Giang