Vietnam accelerates private sector growth via Resolution 68-NQ/TW

Vietnam is implementing Resolution No. 68-NQ/TW to bolster its private sector by addressing critical bottlenecks in land, capital, human resources, and technology. In Phu Tho province, local authorities are prioritizing credit access for small and medium-sized enterprises (SMEs) and supporting industries. For instance, Hoai Trung Tea Co., Ltd. has utilized bank-enterprise connection programs to access capital at interest rates approximately 2% lower than standard market rates.

Nationwide, the implementation of this resolution has led to significant administrative reforms. According to official reports, the government has introduced nearly 20 laws and 25 decrees to institutionalize these policies. These reforms have resulted in the reduction of 697 administrative procedures and the elimination of 1,754 unnecessary business conditions. These changes have reportedly reduced administrative processing time by 53% and compliance costs by 54.6% compared to 2024.

Economic indicators show a surge in business activity. In 2025, nearly 297,500 new or returning businesses were established, a 27.4% increase from the previous year. Total registered capital added to the economy reached approximately 6.4 quadrillion VND, marking a 77.8% increase over 2024. As of mid-2026, the total number of active enterprises in Vietnam has exceeded 1.066 million.