The “Panorama of Vietnam’s Private Economy” Model

The “Panorama of Vietnam’s Private Economy” model aims to build an effective bridge between the private business sector and the government.

On September 11, the official launch ceremony for the “Panorama of Vietnam’s Private Economy” model was held in Hanoi. The event also introduced the Executive Council and key personnel of various committees. It was attended by a large number of business leaders, experts, and associations, affirming the private sector’s role as a crucial driver of sustainable economic development. The event underscored the growing importance of the private sector and implemented strategic directives from the Government and the Politburo.

Private Enterprises Collaborate with the State in a New Model

A representative from the Research Board for Private Sector Economic Development (Board IV) stated that during a meeting with Board IV, Prime Minister Pham Minh Chinh emphasized that the “Panorama of Vietnam’s Private Economy” model must be implemented in a substantive and effective manner. It should mobilize the combined strength of the private sector to help realize the goals of Resolution No. 68-NQ/TW of the Politburo.

Resolution No. 68-NQ/TW of the Politburo

Core Content: This resolution is one of the most important documents providing a strategic direction for the development of Vietnam’s private economy. It affirms that the private economic sector is a crucial driver for developing a socialist-oriented market economy.

Significance: Resolution 68-NQ/TW paves the way for policies that support and create favorable conditions to fully unleash and exploit the potential of the private economy. The launch of the “Panorama of Vietnam’s Private Economy” model is a concrete step toward realizing the objectives outlined in this resolution.

Following the directive in Conclusion No. 436/TB-VPCP dated August 22, 2025, and after years of foundational preparation and close collaboration within the business community, Board IV organized the launch ceremony for the model, along with the introduction of its Executive Council and key committee personnel—all within the framework of the First Vietnam Private Economic Panorama Program.

Conclusion No. 436/TB-VPCP dated August 22, 2025

What is the role of this document? This is a directive from the Government Office, which specifies the requirements from Prime Minister Pham Minh Chinh for the substantive and effective implementation of the “Panorama of Vietnam’s Private Economy” model.

Key Point: This conclusion emphasizes the need to mobilize the combined strength of the private sector, creating a mechanism for them to participate more deeply in the process of economic policy formulation and implementation.

The event was attended by members of the Executive Council, leaders of the committees, and working groups, as well as representatives from numerous businesses in innovation, manufacturing, infrastructure, logistics, services, and human resources. Experts, association representatives, exemplary entrepreneurs, and media agencies were also present.

Convening Large-Scale Business Forces

According to Mr. Truong Gia Binh, Head of Board IV and a member of the Executive Council of the Vietnam Private Economic Panorama, the model is aimed at “Public-Private Nation Building: Strong and Prosperous.” Mr. Binh emphasized that this will be a mechanism for shared work and shared responsibility between the private sector and the State, as well as a place to converge the intellect, resources, voices, and major solutions from the business community.

The “Public-Private Nation Building” program sets three symbolic numbers: 20, 200, and 2,000. Specifically, it will build at least 20 national-level public-private models, establish 200 strong national enterprises, and mobilize at least 2,000 intellectuals and entrepreneurs both at home and abroad to participate.

Ms. Pham Thi Ngoc Thuy, Director of the Board IV Office, affirmed that the model’s distinctive feature is its assembly of the largest and most professional private business forces. The model operates continuously and long-term, without a focus on group interests, and instead prioritizes the responsibility of designing and implementing comprehensive solutions for economic development.

The program’s objective and mission are to promote the private sector as a crucial driver of growth, contributing to building an independent, self-reliant, and sustainable economy. At the same time, the model will accompany businesses in solving national problems based on science and technology, innovation, digital transformation, and global integration.

The Executive Council of the Vietnam Private Economic Panorama includes many prominent businesspeople, such as Mr. Truong Gia Binh (Chairman of FPT Group, Head of Board IV), Mr. Don Lam (CEO of VinaCapital), Mr. Mai Huu Tin (CEO of U&I Group), Mr. Vu Van Tien (Chairman of Geleximco Group), Ms. Nguyen Thi Phuong Thao (Chairwoman of Sovico Group), Ms. Cao Thi Ngoc Dung (Chairwoman of Phu Nhuan Jewelry JSC-PNJ), and key leaders of committees representing businesses such as: Gemadept, Shinec, Eurowindow, Dai Dung, Thai Hung, AA Corporation, Vinh Hiep, Hanel PT, and TMG.

Mr. Phan Duc Hieu, a member of the National Assembly’s Economic Committee, praised the “Public-Private Nation Building” initiative, stating that it spreads an entrepreneurial spirit into the public sector, creating positive change. Mr. Hieu suggested that businesses should not only provide feedback but also proactively propose specific policies, especially as the National Assembly prepares to amend 48 laws related to business activities.

In addition to the Executive Council, the committees and working groups were also introduced. This is an important step to detail the model’s objectives, values, and operational methods.

According to a representative from Board IV, the larger event—the First Vietnam Private Economic Panorama—is scheduled to take place on October 10, 2025, in Hanoi, in conjunction with Vietnam Entrepreneurs’ Day. This will be an opportunity for the entire business community, along with the Government, ministries, and localities, to continue discussing and designing collaborative solutions for the goal of “Public-Private Nation Building: Strong and Prosperous.”

Source: baochinhphu.vn