Overview of the national conference to roll out Resolution 79- on State Economic Development and Resolution 80 on Vietnamese Culture Development (Photo: VOV)

The State economy must  safeguard economic security and sovereignty, resiliently regulate and stabilize economic activity, guide the private sector, spearhead innovation and core technologies, and set standards for governance and public integrity in economy. These functions must be translated into detailed action programs with clear goals, measurable indicators, timelines, monitoring mechanisms, and transparent governance sanctions.

State sector plays core role

At the conference, the national leaders reaffirmed that the State economy is a force that ensures sustainable development and social stability. In the new era, it must continue to play a leading role, not through subsidies or the broad dispersal of resources, but through quality, efficiency, and its capacity to guide development.

Playing a leading role does not mean expanding scale inefficiently. Rather, it requires enhancing competitiveness, increasing technology localization rates, reforming corporate governance, accelerating digital transformation, and prioritizing green, sustainable growth.

This is a shift in mindset, from “existence because of scale” to “existence and thriving through efficiency and competitive strength” in a globalized environment.

Head of the Party Central Committee's Commission on Policy and Strategy Nguyen Thanh Nghi speaks at the conference. (Photo: VOV)

Nguyen Thanh Nghi, head of the Party Central Committee’s Policy and Strategy Commission, said: "Resolution 79 introduces breakthrough perspectives on allocating, managing, and utilizing state economic resources, while emphasizing new breakthrough approaches that resource allocation must operate under market principles. State resources must be reviewed, inventoried, evaluated, and accounted for in accordance with market mechanisms. Assessments of public investment must include impact evaluations and cost-benefit analyses aligned with international practices."

A point highlighted at the conference was that the State economy must not operate in isolation but should foster and support other economic sectors. Effective coordination among sectors creates the combined strength of the national economy.

Party General Secretary To Lam deliver a key note speech at the conference (Photo: VOV)

Party General Secretary To Lam said: "A strong State economy is not meant to overshadow other sectors, but to serve as a foundation and catalyst, enabling private enterprises to integrate more deeply into value chains, develop supporting industries, raise localization rates, and establish industry clusters with leading firms capable of regional and global competition. When the State economy fulfills its guiding role effectively, the private sector will have a solid platform for sustainable growth, thereby enhancing the overall strength of the economy."

The conference also set high standards for State-owned enterprise governance. Once identified as playing a leading role, the State economy must meet even stricter requirements in transparency, discipline, and accountability. Resolution 79 points out that the effectiveness of State capital is measured by tangible outcomes, that governance approaches international standards, and that supervisory mechanisms are robust without stifling innovation.

Delegates attend the conference in Dien Hong Hall, National Assembly Building. (Photo: VOV)

Resolute implementation with concrete action

The new era presents many opportunities but also multiple challenges. Global supply chain shifts and technological competition require Vietnam to establish strong “locomotives” to maintain momentum and strategic direction. When streamlined, transparent, and innovation-driven, the State economy will be both a stabilizing pillar and a pioneering force in realizing the nation’s aspiration for prosperity and strength.

Enhancing the State economy’s role calls for concrete actions and clearly defined implementation mechanisms.

Deputy Prime Minister Nguyen Hoa Binh said: "99 specific tasks have been identified. They are focused on building a comprehensive legal framework, developing high-quality human resources, constructing strategic infrastructure, and designing special incentive mechanisms to ensure effective implementation. Clear definitions of responsibilities, task assignments, and implementation roadmaps for ministries, agencies, and localities are also required."

Implementing Resolution 79 is an immediate political task and also a step towards realizing awareness and action, positioning the state-owned economy as a guider in the nation's journey into a new era of development.