Mr. Dang Hong Anh, Chairman of the Vietnam Young Entrepreneurs Association, shares his views on the policy allowing Party members to engage in investment and business activities.
The 4th Plenary Session of the 14th Party Central Committee, held from October 5 to 8, adopted resolutions on key documents, including regulations regarding Party members' participation in investment and business activities.
Specifically, the Central Committee reached a strong consensus on the need to radically shift the mindset regarding Party members engaging in investment and business moving from merely "permitting" such activities to "encouraging and facilitating" them so that Party members can generate legitimate wealth and contribute to the nation.
Delegates discussed and clarified the rights, conditions, and limitations associated with legal status, official duties, and potential conflicts of interest, while emphasizing the protection of lawful economic activities and the monitoring of entities that exercise actual control or derive benefits.
The Central Committee underscored the imperative to prevent the use of power, information, or public assets for personal advantage.
Dan Tri spoke with Mr. Dang Hong Anh, President of the Vietnam Young Entrepreneurs Association, regarding this matter.
As someone directly involved in business and serving as the President of the Vietnam Young Entrepreneurs Association, what are your thoughts on the Central Committee's move to encourage Party members to engage in business and generate legitimate wealth?
- In my view, this represents not merely a change in approach to a specific issue, but a significant shift toward a development-oriented mindset one that maximizes human and social resources for the country's development.
Mr. Dang Hong Anh.
Resolution No. 68-NQ/TW identifies the private sector as a key driving force of the national economy; the shift from merely "permitting" to actively "encouraging and facilitating" Party members' participation in investment and business holds special significance. This policy reflects a growing recognition of the role of entrepreneurs and affirms that legitimate wealth creation driven by competence, intellect, and creative labor is not only a lawful individual right but also a pathway to economic development and a practical contribution to the nation.
One of the greatest values of this shift lies in creating a more favorable environment where social resources can be unlocked and transformed into productive and business capacities. These resources encompass not only capital but also knowledge, management expertise, organizational skills, an innovative spirit, and market connectivity.
When Party members possessing business acumen and entrepreneurial aspirations are encouraged to leverage their strengths, society gains more actors willing to invest, innovate, assume responsibility, and pursue long-term development goals.
Consequently, capital is channeled into production and business activities; knowledge and management capabilities are converted into added value; and enterprises gain opportunities to scale up, create jobs, and enhance their competitiveness.
Notably, this policy serves as a powerful stimulus for the entrepreneurial spirit and the aspiration for legitimate wealth creation among the business community, particularly the younger generation. When business activities are viewed through a lens of encouragement and facilitation, psychological and perceptual barriers can be gradually overcome, empowering capable Party members to invest, launch startups, and grow their businesses with confidence. Party members who run businesses effectively, comply with the law, and demonstrate responsibility toward their employees and the community will serve as exemplars of a pioneering spirit, innovation, and service to society.
According to discussions among delegates at the Central Committee Conference, the policy of "encouraging and creating conditions" for Party members to generate legitimate wealth and contribute to the nation must be accompanied by a clear definition of rights, conditions, and limits taking into account legal status, official duties, and potential conflicts of interest. What are your thoughts on this matter?
- It is crucial that this policy continues to be translated into clear, consistent, and feasible mechanisms so that the spirit of encouragement and facilitation truly transforms into confidence and a driving force for action in practice.
I am confident that as mindsets evolve, institutions are further refined, and social resources are more vigorously unleashed, the private sector will gain new momentum for growth. Embracing the spirit of a "developmental state" and pioneering entrepreneurship, the business community will not only strive for individual corporate success but also actively contribute to growth targets, enhance the economy's self-reliance, and assert the standing of Vietnamese enterprises within regional and global value chains.
Inside the car manufacturing plant
In your view, what specific mechanisms and policies need to be formulated to ensure the aforementioned policy is swiftly implemented and proves effective?
- We need to focus on three key areas.
First, the policy must be rapidly translated into a clear and coherent legal framework governing Party members' involvement in investing in, establishing, managing, and operating enterprises; this framework should clarify their rights, obligations, and scope of responsibility, as well as specify instances requiring control or restriction in accordance with regulations.
These regulations must ensure consistency between Party rules and State laws to prevent divergent interpretations or hesitancy attitudes that might otherwise deter capable individuals from confidently engaging in legitimate business activities.
Concurrently, it is essential to review and ensure alignment across the legal system, particularly regarding laws concerning cadres, civil servants, public employees, enterprises, and the prevention and control of corruption.
Agricultural production
Secondly, it is necessary to facilitate the transformation of Party members' latent capabilities and resources when they engage in investment and business activities into actual productive and commercial capacity. In particular, leveraging the capabilities of Party members who possess professional expertise, experience, and entrepreneurial drive can help establish new enterprises, improve management quality, foster innovation, create jobs, and add value to the economy.
This is precisely how latent resources can be converted into substantive productive capacity, thereby contributing to the nation's growth objectives.
A crucial point is that a "one-size-fits-all" approach should not be applied. For Party members who are cadres, civil servants, or public employees, the exercise of business rights must be considered in relation to their official duties, legal constraints, and the necessity of preventing conflicts of interest.
For Party members working in the private sector, as well as employees and other groups not subject to legal restrictions, favorable conditions should be created to allow them to exercise their right to engage in lawful business activities. Clearly distinguishing between these groups will ensure policies are both flexible and rigorous, preventing ambiguity that might otherwise cause capable individuals to hesitate or feel uncertain about implementation.
Thirdly, mechanisms must be established to control power and prevent special privileges, undue advantages, and conflicts of interest. Encouraging Party members to engage in business does not mean creating a group of enterprises that receive preferential treatment; rather, the aim is to mobilize additional resources for development within the legal framework. Therefore, requirements for openness and transparency must be clearly defined. Oversight mechanisms must be effective; the creation of favorable conditions must go hand-in-hand with discipline, and the encouragement of wealth creation must be coupled with integrity and responsibility. When the legal framework is sufficiently clear, the business environment transparent, and control mechanisms rigorous, Party members will have the confidence to fully utilize their capabilities; meanwhile, the economy will gain the conditions to mobilize capital, knowledge, and management expertise thereby unlocking social resources, fostering an entrepreneurial spirit, and creating new momentum for the growth of the private sector.
Thank you!