A strategic shift in institutional frameworks is enabling Vietnamese firms to own technology, boost productivity, and assert themselves internationally.

Resolution 68 and its accompanying policies are breathing new life into Vietnam’s private sector. Businesses are reporting a more favorable environment, renewed confidence, and increasing momentum for expansion.

Vietnam’s institutional reforms during the 2021–2025 term have gone beyond legal texts, showing visible impact in construction sites and investment flows across the country.

The twin resolutions are creating fresh incentives for private businesses, yet translating them into real investment requires a predictable, innovation-friendly framework.

Resolution 68-NQ/TW, issued in 2025 by Vietnam’s Politburo, has placed the private sector in its rightful position within the nation’s development structure.

After nearly a decade of delays, legal issues and financial trouble, a $1B private thermal power plant project in Bac Ninh is under close scrutiny.

Prime Minister Pham Minh Chinh chaired the second meeting of the national steering committee for implementing the Politburo’s Resolution No. 68/NQ/TW on the private sector development on November 1.

Vietnam, amid global uncertainty, is determined to boost growth through institutional reform and major investment in infrastructure. These are considered the two core pillars to achieving over 8% growth by 2025 and sustainable development beyond.

Institutional and legal bottlenecks are stalling the development of Vietnam’s private sector, with experts warning that the blurred line between administrative violations and criminal offenses is eroding business confidence.

The rapid evolution of information technology, cloud computing, artificial intelligence (AI), and the Internet of Things (IoT) offers a vast array of opportunities.

Associate Professor, Dr. Tran Dinh Thien says Vietnam’s ability to catch up with the world hinges on private enterprise, not foreign investment.

He also welcomed the “Vietnam Private Sector Panorama” as a platform for dialogue, awareness-raising, and inspiring a wealth-creation movement, emphasising that it must deliver tangible results.

Vietnam's new law allows outsiders to take government leadership roles and earn performance-based pay.

Prime Minister Pham Minh Chinh has been appointed Head of the National Steering Committee for the implementation of Politburo Resolution No. 68 on private sector development, according to Decision No. 1186, which he signed recently.

Finance Minister proposes reforms to elevate business voices in governance.

Xuan Truong Construction Company has proposed investing in an international airport, two main traffic routes, and nine bridges in the newly merged Ninh Binh Province, using only local funds and private sector capital.

In their proposals, VinSpeed plans to implement the North-South high-speed railway project in five years while Thaco, seven years.

Economists all agree that there are no reliable statistics about the size of the private economic sector and call this a ‘gray area’ in statistical work that needs to be clarified.

If Resolution 68 can be implemented effectively, this could mark a pivotal turning point, the third breakthrough in the history of the private sector's development in Vietnam, according to National Assembly Deputy Phan Duc Hieu.