Private economic pillar

Immediately after the August Revolution, the Democratic Republic of Vietnam was born. Businessmen and national capitalists contributed a large amount of money and gold to ensure the operations of the revolutionary government in its early days.

In tune with the implementation of innovation

In a letter of encouragement and affirmation of the role and mission of businessmen on October 13, 1945, President Ho Chi Minh wrote: "While other sectors of the nation are working hard to gain complete independence for the country, the industrial and commercial sectors must work to build a stable and prosperous economy and finance."

Following Uncle Ho's words, through the resistance wars against French colonialism and American imperialism; building and reconstructing the country after the war and carrying out the renovation process, businessmen and enterprises across the country have fulfilled their mission well, creating a part of resources to serve the Party's revolutionary cause.

In particular, since the country implemented the Doi Moi (1986), the private economy has gradually developed in both quantity and quality, becoming one of the important driving forces of the socialist-oriented market economy. Up to now, with more than 940,000 enterprises and over 5 million business households, the private economy contributes about 50% of GDP, more than 30% of total state budget revenue and employs about 82% of the total labor force in economic growth, job creation, etc.

For Lang Son , since the implementation of the Doi Moi process, the private economy has begun to develop clearly when cross-border trade activities were "opened", taking place vigorously with the core force being small traders importing and exporting products, mainly essential goods for production and consumption.

In 1990, the Law on Private Enterprises and the Law on Companies were enacted, creating favorable conditions for the development of the private economic sector. From here, Lang Son's private economic sector began to transform to a new operating model, and small traders accumulated financial resources to establish businesses and companies. An important milestone for the development of Lang Son's private economic sector was in 1997 when the Lang Son Young Entrepreneurs Association was established with about 20 members (later changed to the Lang Son Young Entrepreneurs Association).

After nearly 10 years of implementing the Law on Private Enterprises and the Law on Companies, the number of enterprises in Lang Son has grown to nearly 200. In June 1999, the Law on Enterprises was promulgated and amended and supplemented in 2005, 2014 and 2020, marking an important step forward in perfecting the legal framework for business activities. Since then, the number of newly established enterprises in the province has increased sharply.

In particular, implementing Resolution No. 10 dated June 3, 2017 of the 12th Party Central Committee on developing the private economy into an important driving force of the socialist-oriented market economy in the 2017-2025 period, Lang Son's private economy has grown strongly in quantity and scale.

By 2020, the number of enterprises established and put into operation in the province reached more than 3,200 with a total registered capital of more than 27 trillion VND. From 2021 to the end of July 2025, Lang Son will develop about 2,400 more enterprises, bringing the number of enterprises in the province to more than 5,600 with a total registered capital of more than 62 trillion VND. The whole province has more than 44 thousand business households, of which nearly 31 thousand business households are operating. It is estimated that by the end of 2025, the private economic sector will contribute about 67% to GRDP, pay about 1,000 billion VND to the budget, and create jobs for 50 thousand local workers.

“New wind” from Resolution 68

Despite strong development, Vietnam's private sector still shows limitations. For mountainous and border provinces such as Lang Son, private sector still faces many challenges. Most enterprises are small and micro-sized; lack capital, technology and high-quality human resources, operational efficiency and business capacity are still low compared to the general level. In addition, although the business environment has been improved, there are still barriers in administrative procedures, land access and lack of synchronization in business support policies....

In the context of the private economic sector facing many difficulties, the birth of Resolution No. 68 of the Politburo is like a "new wind" for the private economic sector of the whole country and Lang Son to develop.

Mr. Lai Quoc Toan, Vice Chairman of the Provincial Business Association, General Director of Phu Loc Investment and Construction Group Joint Stock Company, shared: Resolution 68 was received with great enthusiasm by the business community and entrepreneurs because for the first time, the Central Government had very clear and profound instructions on the development of the private economy. The business community of the province looks forward to the implementation of the resolution into life, soon removing obstacles in the operation of private enterprises related to land procedures, construction, environment, etc.

Sharing the same view, Mr. La Giang Nam, Chairman of Lang Son Young Entrepreneurs Association, General Director of Lang Son Construction Joint Stock Company expressed: The young entrepreneur community is the “spearhead” in the flow of private economic development. We hope that when implementing Resolution 68, the province will soon have policies for young entrepreneurs and small businesses to participate in providing public services, soft infrastructure, research and innovation, etc.

In fact, in recent times, Lang Son has implemented many solutions to support businesses. Specifically, such as: creating a favorable investment and business environment for the development of private enterprises; expanding the ability of private enterprises to participate in the market and promoting fair competition; developing infrastructure and enhancing the ability of private enterprises to access resources; ...

Mr. Nguyen Dinh Dai, Director of the Department of Industry and Trade, said: The Department has advised the Provincial Party Committee and the Provincial People's Committee to deploy many solutions to support the development of the private economy, specifically implementing mechanisms and policies on trade and services, industrial development, etc. Accordingly, the Department has promoted the implementation of industrial promotion programs, market infrastructure development, trade promotion, coordinated the implementation of the campaign "Vietnamese people prioritize using Vietnamese goods"; implemented the program "Organizing markets to bring Vietnamese goods to rural areas"; "supporting small traders to develop the digital economy"...

Thanks to these solutions, the private sector of Lang Son province has made significant progress; increasingly contributing significantly to the socio-economic growth and budget revenue of the province.

Immediately after Resolution 68 was issued, the Provincial Party Committee and Provincial People's Committee issued plans and programs for implementation in order to quickly put the resolution into practice.

On that basis, departments and branches have been actively implementing solutions to promote the development of private enterprises. Ms. Duong Thi Hoan, Deputy Director of the Department of Finance, said: The Department of Finance continues to advise the Provincial Party Committee and the Provincial People's Committee to lead and direct the implementation of solutions to improve the investment and business environment, improve the Provincial Competitiveness Index (PCI); promote administrative procedure reform, facilitate businesses to access support policies and focus on production and business activities. At the same time, advise the province to develop and promulgate mechanisms and policies to support small and medium enterprises; propose specific policies to support a number of private enterprises with the potential to develop into "leading" enterprises, leading other enterprises to develop together. Along with that, the Department continues to research and advise the province to develop mechanisms and policies to encourage and attract private investment, mobilize social resources; Closely coordinate with departments and branches in deploying and implementing mechanisms and policies to support enterprises and business households, thereby creating a favorable, fair and effective business ecosystem, contributing to realizing the goals of Resolution 68.

Resolution 68 has become a “compass” for the development of the private economy in the country in general and Lang Son in particular. The business community of Lang Son expects that the solutions proposed by the Central and the province will soon be realized and with the high determination of the Party Committee, the government, and the dynamism of businesses, the private economy of Lang Son will increasingly contribute significantly to the socio-economic development, contributing to the whole country entering a new era.