Removing 'bottlenecks' to create momentum for breakthrough in the capital's private economy

Towards the goal of having 300,000 private enterprises by 2030, Hanoi needs to focus on removing "bottlenecks" in institutions and the investment environment.

This is considered a prerequisite to unlock resources and create a breakthrough momentum for the private economic sector - an important pillar in the new growth model of the Capital.

Improve the investment environment

In the 2025 - 2030 term, Hanoi City set a target of an average GRDP growth rate of 11% or more per year, in which the private economy has made important contributions. According to the Standing Deputy Secretary of the Hanoi Party Committee Nguyen Van Phong, the growth target of 11% or more is a huge challenge, a very high target. Therefore, without a breakthrough solution in both thinking and action, it will be very difficult to achieve.

The Hanoi Party Committee aims to develop the private economy into the most important driving force of the capital's economy. By 2030, Hanoi will have about 300,000 private enterprises, contributing strongly to growth, employment and social welfare. Hanoi plans to establish the City's technology enterprises in the fields of science , innovation and digital transformation, playing the role of "guide" for the private sector in the green and digital transformation journey.

Deputy Secretary of the City Party Committee Nguyen Van Phong visited, wished a happy new year and encouraged workers. Photo: Dinh Hiep

Speaking at the scientific conference with the theme "Unlocking resources - Breakthrough in the development of the capital's private economy", Prof. Dr. Hoang Van Cuong, former Vice President of the National Economics University, said that Hanoi must create a truly attractive investment environment so that businesses are willing to spend money to implement projects. "There are many projects in Hanoi that are attractive to businesses. If there is a good mechanism, even 14 urban railway lines, businesses are willing to invest capital", said Mr. Hoang Van Cuong.

According to Dr. Nguyen Minh Thao, Institute for Policy and Strategy Research, Hanoi's GRDP growth tends to be higher than the country's overall growth, but has not yet created a breakthrough. In particular, the number of micro and small enterprises accounts for a large proportion of Hanoi's business sector. Hanoi's business development tends to slow down.

To develop the private economy, Mr. Nguyen Minh Thao proposed that Hanoi urgently implement tasks and solutions in the spirit of the Central Resolution, while creating an open, transparent, stable, safe, and easy-to-implement business environment; putting people and businesses at the center. Regarding public services, it is necessary to upgrade business support services; have a mechanism for dialogue, receiving problems and answering questions and recommendations from businesses and people.

Pillar of competitiveness for the private sector

Dr. Nguyen Dinh Cung, former Director of the Central Institute for Economic Management, emphasized the important role of private economic development in the development of the capital. To do that, the city must first of all strongly improve the investment and business environment.

“We all agree that this solution is not costly but has a great effect on mobilizing investment capital for business development, especially private enterprises, and is the most expected by the business community. In particular, the focus of administrative procedure reform is to remove all barriers for businesses and people to innovate and freely do business in everything that is not prohibited by law,” Dr. Nguyen Dinh Cung emphasized.

Hanoi is focusing on removing administrative barriers to motivate businesses.

In that spirit, Dr. Nguyen Dinh Cung also recommended that the city minimize intervention and eliminate administrative barriers, the "ask - give" mechanism, and the "if you can't manage it, ban it" mindset. At the same time, the city creates all favorable conditions in handling administrative procedures; clearly assigns, decentralizes, and assigns tasks between levels and branches of each agency and unit, and clearly defines the responsibilities of the head in handling administrative procedures.

Also at the workshop, Mr. Nguyen Trung Chinh, Chairman of the Board of Directors of CMC Technology Corporation, said that the digital economy is expected to account for 40% of the city's GRDP in the next 20 years, in line with the orientation of Resolution 57-NQ/TU on breakthroughs in science and technology development, innovation and digital transformation.

Mr. Nguyen Trung Chinh said that to achieve that goal, Hanoi needs to consider digital transformation as the focus and pillar for development, helping to improve productivity, management efficiency and competitiveness for the private economic sector - the development pillar of the capital's economy.

In particular, Hanoi needs to build an "AI development strategy", integrated into the Capital's digital economic and social development strategy to 2030, with a vision to 2045; at the same time, it is necessary to develop a comprehensive innovation ecosystem, improve the capital's science and technology and innovation capacity.

Source: https://baotintuc.vn/kinh-te/go-nut-that-tao-dong-luc-but-pha-kinh-te-tu-nhan-thu-do-20251015105442186.htm