Breakthrough development of cognition and thinking

So what is the basis to prove that the private economy is the most important driving force but the state economy still plays a leading role and guides socialism?

Considering the private economy as the most important driving force of the economy is not only not contrary to, but is being faithful to, creatively applying and supplementing the development of Marxism-Leninism's theory on economic sectors in the transitional period to socialism.

Illustration photo: vov.vn

In theory: In the transition period to socialism, many economic components still exist. V. Lenin explained that the transition to socialism is a period in which components and parts of both capitalism and socialism exist. That shows that the private economy still has a large room to liberate productive forces, so it is necessary to take advantage of it to build a material and technical foundation for socialism. V. Lenin also affirmed: "No uprising can create socialism if this is not economically mature." Economic maturity is the building of modern, superior productive forces and a system of technical and material facilities. From the perspective of developing productive forces, it is clear that in the transition period, we cannot affirm that we are economically mature enough. That also means we need to continue to promote the full driving force in the economy by stimulating and creating conditions for economic sectors, especially the private economy, to develop to gradually achieve economic maturity.

In the transitional period, after all, creating conditions for the private economy to develop is to create conditions for all people to freely produce and do business, to freely enrich themselves legitimately. That is also to comply with the Marxist-Leninist theory on the historical creative role of the revolutionary masses. That is to consider the people as the root, the main driving force of the socialist revolution. In the new era, the role of the people in general, and each private economic entity in particular, is once again positioned and honored in the mission of promoting the combined strength and endless potential to build, develop, and bring the country to prosperity and happiness.

On the other hand, in the draft documents submitted to the 14th Congress, our Party advocates establishing a new growth model based on scientific and technological advances, knowledge, innovation and digital transformation. That can only be done when all potentials of the country are placed in the right position, role, and are aroused and promoted, including the private economy. Therefore, considering the private economy as the most important driving force is to affirm both the viewpoint, policy, and institutions and policies that are ready for this economic sector to fully develop its potential and make worthy contributions in the era of national development.

In practice: The private economy is considered the most important driving force because of its potential and great contribution. Resolution No. 68-NQ/TW affirms: The private economic sector currently has more than 940 thousand enterprises and more than 5 million business households in operation, contributing about 50% of the gross domestic product (GDP), more than 30% of the total state budget revenue and employing about 82% of the total labor force in the economy.

With great potential, the private economy has changed the technological level and the face of the country's economic and social infrastructure, promoting innovation, improving labor productivity, and increasing competitiveness in the economy. Many private enterprises have developed into economic groups with strong potential in terms of capital, human resources, technology, and international competitiveness such as: Vingroup, Hoa Phat, FPT, Truong Hai, Masan ... Many private enterprises have made great contributions to the state budget such as in 2024 Vingroup contributed 56,000 billion VND; Mobile World contributed 19,700 billion VND; Hoa Phat contributed 13,400 billion VND; FPT contributed 9,200 billion VND...

The leading and guiding role of the state economy cannot be denied.

The state economic sector includes state-owned enterprises and key economic resources held by the state such as: National resources, state banks, budgets, national reserve funds... Holding important and key material resources means holding tools and forces strong enough to regulate and stabilize the macro economy, ensure major balances, orient, lead, promote socio-economic development, overcome market defects, steer the economy towards the goal of socialism; ensure good implementation of economic growth and development goals along with implementing social progress and equity.

Practice also affirms the irreplaceable role of the state economy. The state economy directly undertakes key economic sectors related to national sovereignty, national defense, security, energy security, social security, national resources, etc. At the same time, it invests in production and business in sectors, fields, and areas that private enterprises cannot or do not want to do but are necessary for economic and social development, aiming to ensure the interests of the majority of people such as building infrastructure to serve production and daily life; providing public services; investing in research on high technology and core technology, promoting the development of science and technology in the country; investing in sectors that require large capital, low profits, slow recovery time, especially in strategic areas, remote areas, border areas, seas, islands, areas with difficult economic and social conditions, many risks, etc.

Many economic groups and state-owned corporations such as the Military Industry-Telecoms Group; Vietnam Posts and Telecommunications Group; Vietnam Airlines Corporation, Saigon Newport Corporation, Vietnam National Industry-Energy Group, Vietnam Electricity Group... have made great contributions to the country's GDP. In 2024, state-owned enterprises continued to affirm their pivotal role with impressive figures: Total revenue of nearly 3.3 million billion VND, up 24%; pre-tax profit of 227,500 billion VND, up 8%; budget contribution of nearly 400,000 billion VND, up 9% compared to 2023. Many corporations have reached out to the world, affirming their corporate brand and national position. The level of technological modernization in state-owned corporations and groups in the fields of telecommunications, seaports, finance, etc. has greatly contributed to accelerating the process of scientific and technological research and development and digital transformation in the economy.

With its regulatory role, the state economy uses its strong economic resources, through a system of mechanisms and policies to create an environment, framework and conditions for the development of the non-state economic sector such as support and incentives on capital, human resource training, labor allocation; support for essential economic and social infrastructure; promote digital transformation; transfer of science and technology; reduce and overcome market defects; reduce risks from natural disasters, epidemics and non-traditional security factors. At the same time, support to ensure livelihoods for vulnerable groups, vulnerable to risks in life. Creating a stable environment helps economic entities feel secure in production and business, creating more material wealth, enriching families, businesses and society.

The above evidence confirms that the state economy is an irreplaceable force in the leading role, orienting and leading the economy along the orbit of socialism. Accordingly, it is necessary to build a strong enough institution to both promote the role of the private economy as the most important driving force, and at the same time ensure the role of creating, leading, maintaining the socialist orientation, maintaining the strength and promoting the effectiveness of the state economy.

Colonel, Dr. PHUNG MANH CUONG, Deputy Director of the Institute of Military Social Sciences and Humanities/Academy of Politics

    Source: https://www.qdnd.vn/cuoc-thi-bao-chi-bao-ve-nen-tang-tu-tuong-cua-dang-trong-tinh-hinh-moi/private-economic-economic-is-a-mot-mot-mot-luc-quan-trong-nhat-khong-co-nghia-la-phu-nhan-vai-tro-kinh-te-nha-nuoc-840840