PM underscores stronger reforms, better institutions for private economic development

(VOVWORLD) -Prime Minister Pham Minh Chinh on Saturday requested the acceleration of reforms, the enhancement of institutions and policies, and the effective guarantee and protection of ownership rights, property rights, freedom of business, and equal competition rights of the private economy.

PM underscores stronger reforms, better institutions for private economic development - ảnh 1Prime Minister Pham Minh Chinh speaks at the meeting. Photo: Lai Hoa/VOV

Concluding the fourth meeting of the National Steering Committee for the implementation of Resolution No. 68 of the Politburo on private economic development in Hanoi, Prime Minister Chinh, Head of the Steering Committee, stressed the need to facilitate the private sector's access to resources like land, capital, and high-quality human resources.

He also urged for promoting science and technology, innovation, digital transformation, green transformation, and efficient and sustainable business in the private sector.

The Prime Minister also requested strengthening connections between private enterprises, between private enterprises and state-owned enterprises and foreign direct investment (FDI) enterprises.

Efforts should be made to rapidly form and develop large and medium-sized enterprises, and private economic groups of regional and global scale, while providing substantive and effective support to small, micro, and household businesses.

PM underscores stronger reforms, better institutions for private economic development - ảnh 2Prime Minister Pham Minh Chinh speaks at the meeting. Photo: Lai Hoa/VOV

Prime Minister Chinh suggested that private enterprises implement "digitalization, greening, resource optimization, smart governance, and harmonization of interests".

Ministries, sectors, and localities must create transparent institutions and procedures, boosted coordinated and smooth infrastructure, fostered human resources and smart governance, while ensuring the availability of resources for private enterprises and resolving difficulties facing businesses, he said. Businesses must be pioneers in the development of science and technology, innovation, digital transformation, green transformation, and economic restructuring.

The Prime Minister called for a thorough review and evaluation of programs and projects aimed at fully institutionalizing the Party's guidelines on private sector development. He emphasized accelerating administrative procedure reforms and delivering policies to improve the investment and business environment and reduce business costs.

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