Establishing a fair competition system for the private economy

Hoàng Văn Minh |

General Secretary To Lam emphasized that Vietnam needs to establish a fair competition system for the private economy.

In the article "New driving force for economic development" published on May 11, General Secretary To Lam emphasized: developing the private economy is not only an important task, but also a strategic driving force to successfully build socialism in Vietnam.

In particular, the General Secretary pointed out a fundamental requirement: Vietnam needs to establish a fair competition system, clearly defining a list of negative impacts on market access and discrimination in competition with the private economy.

This assessment reflects a strong shift in development thinking. Because reality shows that, despite contributing more than 40% of GDP and 80% of jobs to society, the private economic sector, especially small and medium enterprises, is still facing many difficulties: from limitations in access to credit, land, planning information, to non-transparent bidding and investment mechanisms.

Therefore, the requirement to establish a "fair competition system" cannot stop at promulgating laws or policy slogans, but must be an effective enforcement ecosystem, where market distortation is clearly pointed out and strictly handled.

For example, manifestations such as " conditional bidding", "granting in the form of asking - giving", or "prioritizing backyard enterprises" need to be identified as negative impacts on the competitive environment and excluded from the national governance system.

The General Secretary has repeatedly emphasized that in a socialist-oriented market economy, the State must not only manage, but must create and serve. The creativity here is to create an equal and transparent "playground", where all businesses have equal opportunities to develop, contribute and contribute.

If the legal environment is not transparent, if public authorities are still skewed in implementing policies, it will be eliminating the momentum of the private sector.

The establishment of a fair competitive system must also go hand in hand with the transformation of administrative thinking, from control to companionship, from "distributing rights" to "protecting equal rights".

Private economic development policies will only truly be effective if operated in an environment where businesses feel respected, protected and treated fairly.

Fair competition in this case is not only a requirement for economic development, but also a matter of market trust and fairness.

Once private enterprises can operate in a transparent, undiscriminated environment, and are fairly supervised instead of being "examined" in a "bustling" manner, they will boldly invest, be creative and stay with the country for a long time.

A fair competitive environment is not only a requirement for economic justice, but also a prerequisite for the Vietnamese economy to develop sustainably, independently and reaching far.

Hoàng Văn Minh
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