Mr. ĐẶNG HỒNG ANH, Chairman of the Vietnam Young Entrepreneurs Association, shared that the young business community is very enthusiastic about Resolution 68-NQ/TW on the development of the private economy, which includes many breakthrough mechanisms and policies. Businesses are eagerly awaiting its implementation, particularly hoping for a roadmap to digitize the legal document system and administrative procedures — so they can track where their documents are and how the processing is progressing.
Prompt issuance of the Action Program with 5 key pillars
— How have young Vietnamese entrepreneurs responded to Resolution No. 68-NQ/TW on the development of the private economy, sir?
Mr. Đặng Hồng Anh. Photo: Quang Khánh
– Like the broader Vietnamese business community, members of the Vietnam Young Entrepreneurs Association have enthusiastically welcomed the Resolution. Many of the policies stated in the Resolution were proposals we’ve made over the years — especially those concerning startups, small and micro-enterprises. The Resolution even dedicates an entire seventh group of solutions to "providing substantial and effective support for small, micro-enterprises and household businesses."
Immediately after the Politburo issued the Resolution, on the same day, the Vietnam Young Entrepreneurs Association summarized 27 key points and shared them with its members. On May 8, the Association issued an Action Program with 5 pillars — notably focusing on strengthening internal trade by encouraging members to use each other's products and services, exchange goods, and support one another in sales — thereby enhancing the internal strength of Vietnamese enterprises.
– What specific expectations or proposals does the young entrepreneur community have regarding the implementation of this Resolution?
– We hope that ministries, departments, and localities will promptly issue specific plans and action programs, along with clear and practical guidelines to facilitate both management agencies and businesses in implementation.
Young entrepreneurs often face challenges related to capital and collateral; they mostly have business ideas, good products, and services aligned with trends, but face difficulties accessing bank loans. The Resolution clearly emphasizes the promotion and diversification of funding sources for the private economy through specific solutions, such as encouraging lending based on business models and market expansion plans, cash flow and value chain assessments, and accepting movable assets, intangible assets, future-formed assets, and unsecured loans as collateral. It also calls for accepting objective risks and force majeure conditions in guarantee operations. This not only builds trust and optimism among businesses but also encourages financial institutions to lend more confidently to the private sector. However, for this to be realized, related legal systems need to be reviewed and revised to provide a secure framework for banks when lending to private businesses.
Businesses want the right to decline second inspections
– The Resolution also outlines provisions to improve land access for private enterprises in general, and especially small, medium, and startup businesses. What does this mean for young entrepreneurs?
– Alongside capital, land is a major barrier for most of us young entrepreneurs. Resolution 68-NQ/TW and Resolution No. 198/2025/QH15 on special mechanisms and policies for private economic development clearly address this issue — especially through policies supporting companies investing in industrial and cluster infrastructure.
Many of our members are already investing in industrial parks and clusters. They are willing to allocate land for other private enterprises to lease because they, too, want to see the country grow and the young business community thrive. To encourage industrial infrastructure investments, there must be clear preferential policies at the local level — such as reductions in land use fees, access to loans, and tax incentives.
– Resolution 68-NQ/TW also introduces reforms to inspection and examination practices; it aims to eliminate overlapping, prolonged, and unnecessary inspections, ensuring that each business is inspected only once per year, unless there is clear evidence of a violation. In your opinion, how can we ensure this is properly enforced?
– The Resolution introduces breakthrough reforms in inspection and examination processes. Our business community fully supports this. To ensure the Resolution is implemented as intended, we would like to be granted the right to report inconsistencies in regulatory enforcement, including inspection and examination activities, to the relevant authorities. Specifically, if a business receives a second inspection within a year without clear evidence of wrongdoing, we believe it should have the right to refuse the visit. This would help ensure the Resolution is truly put into practice.
Furthermore, we strongly desire a roadmap for the digitalization of the legal documentation system and administrative procedure workflows for businesses. That way, we can easily review our legal status, check where our applications are in the process, track their progress, and submit requests if things are delayed. This will significantly speed up the resolution of business-related procedures and open up more opportunities for enterprises and young entrepreneurs to grow.
– Thank you very much, sir!
According to Đại Biểu Nhân Dân (The People’s Representative Newspaper)