On the afternoon of November 1, Politburo member and Prime Minister Pham Minh Chinh - Head of the National Steering Committee for the implementation of Resolution No. 68-NQ/TW of the Politburo on private economic development, chaired the 2nd meeting of the Steering Committee.
According to the plan to cut and simplify administrative procedures approved by competent authorities, it is expected that the total number of procedures related to production and business activities will be cut and simplified to 2,941 procedures, accounting for 60.2% and cutting 2,263 business conditions in conditional business sectors and professions, reaching 31%.
The total estimated time for handling administrative procedures is reduced to 13,182 days and the cost of compliance with administrative procedures is reduced to more than VND34.2 trillion/year (reaching nearly 29%).
As of October 24, 2025, the whole country has over 1 million enterprises operating in the economy.
From May 2025 since the Politburo issued Resolution No. 68, there will be an average of more than 18,000 newly established enterprises per month, an increase of nearly 43% compared to the average of the first 4 months of 2025.
It is estimated that in the first 10 months of 2025, the whole country will have nearly 262,000 newly registered and returning to operation, an increase of nearly 30% over the same period in 2024 with the total additional capital to the economy estimated at more than 5.1 million billion VND.
In his concluding remarks, the Prime Minister requested the Ministry of Finance to ensure funding for implementing policies and programs to support businesses and business households from the central budget; prioritize the allocation of funding for implementing programs and projects as stipulated in the Government's Resolution.
Regarding the proposal of private enterprises to participate in major, important national projects, including railway projects, defense projects, etc., the Prime Minister said that ministries and branches have prepared very actively and worked with enterprises.
Requesting businesses to actively participate in developing social housing, the Prime Minister directed the Ministry of Construction to quickly submit and issue a Government Resolution to mobilize businesses' resources to contribute to increasing supply and reducing housing costs for people.
The Ministry of Finance urgently completes and submits a trial mechanism for developing a circular economy in November 2025; decree guiding the policy of supporting 2% interest rates for businesses to borrow capital to implement green, circular projects, apply environmental, social and governance standards (ESG) through non-budgetary state financial funds (completed in November); decree on the operation of small and medium-sized enterprise development funds (completed in December);
Complete the training program to train 10,000 executives and the development program of 1,000 typical and pioneering enterprises (strive to complete in 2011.
The Ministry of Agriculture and Environment urgently completes the construction of a land database, connecting to the national data center and issuing regulations on management, operation and exploitation in December 2025.
Submit to the Prime Minister to issue a decision guiding the determination of green, circular projects, applying environmental, social and governance standards (in December).
The State Bank of Vietnam urgently completes the Decree guiding the policy of supporting 2% interest rates for businesses to borrow capital to implement green, circular and ESG projects through commercial banks in November 2025.
The Ministry of Justice urgently completes and submits to the Prime Minister an inter-sectoral legal support program for small and medium-sized enterprises and business households.
