The role of the private economy
On April 8, in Hanoi, the Standing Committee of the National Assembly's Economic and Financial Committee held a seminar to collect experts' opinions on perfecting the institution for private economic development.
With a wide scope of activities in all industries, in all areas, contributing to the supply of goods, creating jobs, increasing export turnover and contributing significantly to the GDP structure, the private economy is identified as one of the important driving forces, with many great contributions to the overall Vietnamese economy.
However, according to experts, the private economy in our country is not yet developing commensurate with its potential. One of the reasons for this situation is that the legal system and policies are still inadequate, making it difficult for private enterprises to access resources. The business legal system is unclear, inaccurate, unreasonable, overlapping, contradictory, and does not fully anticipate any problems that may arise.
Dr. Nguyen Dinh Cung - former Director of the Central Institute for Economic Management Research - said that it is necessary to quickly transform the legal system towards ensuring freedom of business, encouraging innovation, expanding and creating development opportunities. In addition, it is necessary to increase support and have outstanding incentives to encourage the development of business households, innovative startups, and small and medium enterprises.
Dr. Nguyen Dinh Cung also proposed building a legal framework to create a channel for mobilizing and accessing medium and long-term investment capital (other than credit), land access, research and development and technology for private enterprises. Along with that is the reform of judicial activities, shortening the maximum time, minimizing costs, ensuring transparency and fairness in resolving contract disputes so that people and businesses can feel secure in investing.
Eliminate the request-grant mechanism
Similarly, Dr. Phung Duc Tung - Director of the Mekong Development Research Institute - said that it is necessary to continue implementing breakthrough reforms in institutions, policies and the business environment. At the same time, amend and provide specific detailed instructions on complying with related legal requirements so that businesses do not need to ask for permission from relevant agencies to eliminate the request-grant mechanism, thereby helping the private economy maximize its potential.
In particular, it is necessary to focus on the legal framework and support policies for businesses and new types of businesses, especially in the digital age.
According to Dr. Phung Duc Tung, it is necessary to promote market competitiveness, ensure an equal business environment among enterprises, effectively manage the role and influence of large domestic private enterprises, FDI enterprises and state-owned enterprises. In addition, it is necessary to motivate small and medium-sized private enterprises to develop, creating favorable conditions for new enterprises to enter the market, turning small and medium enterprises into new growth drivers for the economy.
Member of the Party Central Committee, Vice Chairman of National Assembly Vu Hong Thanh said that during the rapidly developing technology period, it is necessary to change the way of economic development to adapt to the new situation. The streamlined revolution, the apparatus is one of the important drivers for this process.
The Vice Chairman of the National Assembly requested the Economic and Financial Committee and the Ministry of Finance to synthesize experts' opinions and clearly analyze the fundamental and core causes of institutional shortcomings to find appropriate solutions.
