Prime Minister: Empower the Private Sector to Lead Major, Challenging Projects in Green Transition and New Energy
(Chinhphu.vn) – On the afternoon of November 1, Prime Minister Phạm Minh Chính, Head of the National Steering Committee for implementing the Politburo’s Resolution No. 68-NQ/TW on the development of the private economy, chaired the Committee’s second meeting. The Prime Minister emphasized that Vietnam must boldly entrust private enterprises with major and challenging projects, particularly those in green transition, new energy, and ESG-driven sustainable development.
Delivering his closing remarks, Prime Minister Phạm Minh Chính highlighted the remarkable progress achieved nearly six months after Resolution 68 was issued. The private sector has become an increasingly vital growth driver, reflected in the surge of newly established and reactivated businesses as well as their growing contributions to state revenue.
The Prime Minister reaffirmed that developing the private sector is one of the key pillars of building an independent, self-reliant, and sustainably integrated economy. The Government’s approach, he said, is to “use public investment to lead private investment, and use state resources to activate all resources from the people and businesses.”
“We must create conditions for private enterprises that are ready to take on difficult tasks, particularly large-scale and complex projects with strategic significance in energy, infrastructure, innovation, and the green transition,” the Prime Minister stressed.
Private Sector – The Key Force for Green, Circular, and ESG Projects
The Prime Minister instructed the Ministry of Finance to urgently finalize and submit a Decree on 2% interest rate support for private businesses implementing green, circular economy, and ESG-compliant projects, through both off-budget state financial funds and commercial banks—by November 2025.
The Ministry of Natural Resources and Environment was also tasked with completing the national land database, issuing guidelines for identifying green and circular projects, and integrating environmental, social, and governance (ESG) criteria into project appraisal and investment approval processes.
These policy actions, the Prime Minister noted, will lay the foundation for private enterprises to lead Vietnam’s green transformation, renewable energy expansion, smart infrastructure, and circular economy, all of which demand high capital and technological capacity.
Encouraging Private Investment in Strategic Infrastructure
The Prime Minister emphasized that many private enterprises have expressed strong interest in national key projects such as railways, ports, airports, nuclear energy, social housing, and quality healthcare and education facilities. The Government, he said, welcomes and will create the most favorable policy, legal, and financial conditions for the private sector to engage in these strategic areas.
“When private enterprises are ready to take on difficult missions, state management agencies must enable and support them—not avoid responsibility or respond vaguely with ‘in accordance with the law.’ If obstacles arise, they must be reported and addressed promptly,” the Prime Minister directed.
He also assigned the Ministry of Construction to soon propose a new Government Resolution on social housing development, mobilizing private resources to increase supply and lower housing costs for citizens.
From “Ask–Give” to “Facilitate–Support–Serve”
Prime Minister Phạm Minh Chính reiterated the Government’s commitment to transforming administrative mindset and behavior—from a “request–grant” approach to one that facilitates, supports, and serves enterprises and citizens. Ministries, sectors, and localities must accompany the business community, listen and understand, share a common vision, and act together toward shared prosperity.
So far, 34 provinces and 21 ministries have issued their action plans for implementing Resolution 68. Administrative reforms have resulted in the simplification or reduction of nearly 3,000 business-related procedures, cutting compliance costs by over 34.2 trillion VND annually and reducing administrative processing time by more than 13,000 days—significantly improving the business environment.
Private Sector – A Pillar of Green and Innovative Growth
Since the launch of Resolution 68, an average of over 18,000 new enterprises have been established each month, a 43% increase compared to early 2025. Nearly 262,000 enterprises have been newly registered or resumed operations within ten months, demonstrating the strong vitality and confidence of the private sector.
The Prime Minister underscored that this is the right moment for Vietnam’s private sector to assert its leadership role in innovation, digital transformation, green economy, and strategic infrastructure development—advancing toward a dynamic, resilient, and prosperous nation.
“Solidarity is strength, cooperation brings effectiveness. The State, enterprises, and the people must share one vision, act together, win together, and rejoice together,” Prime Minister Phạm Minh Chính affirmed.
