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Prime Minister advocates for unrestricted growth in the private sector's economic expansion.

Enterprise tangible assets gain legal recognition, as government establishes a framework, emphasizing that civil and commercial interactions remain detached from criminal proceedings.

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Government head plans legal structure to acknowledge and clarify intangible enterprise assets,...
Government head plans legal structure to acknowledge and clarify intangible enterprise assets, emphasizing that non-criminalization of civil and economic ties is paramount.

Prime Minister advocates for unrestricted growth in the private sector's economic expansion.

🔥 Hacking through the Cubicle Jungle:

Here's the scoop on Vietnam's Prime Minister, Pham Minh Chinh, bustling through economic policies like a boss at a recent meet with the Government's policy advisory council.

The agenda? A draft resolution all about boosting the private economic sector, line by line, in harmony with the Politburo's Resolution No.68(NQ/TW) - a sweet date back in May.

This resolution, as it turns out, has three thrilling categories:

  1. Statutes, Statutes Everywhere: Quickfire legal codifications and amendments to wrestle with.
  2. Long Game Thinking: Strategic orientations that need deep-dive evaluations — no rush here, fam.
  3. Meeting of the Minds: Sessions (well, discussion) on issues like land and production site access, capital, skilled workforce, technological advancements, taxes, fees, charges, and administrative reform — you know, just casual stuff.

With the motto of "A state that helps, people rule, enterprises reign," PM Chinh eyes the resolution to rocket-boost the private sector, making it the key engine powering Vietnam's economy.

He's got his eyes set on a sweeping review of policies to spur business guns-a-blazing, level the playing field for competition, and deliver equal access to capital, land, and public assets. And yes, he wants tailored training through mechanisms that let businesses call the shots on educational institutions.

Chinh also touched on the need for a legal framework that identifies and clarifies intangible assets and reaffirms the principle against criminalizing civil and economic relations.

The drafting committee's on the clock to nail down the draft resolution, gather insights from cabinet members, provincial leaders, businesses, and the whole business community, before submitting the draft to the National Assembly by May 12. The Assembly is penciling in a review and adoption session by May 18.

Prime Minister Phạm Minh Chính at May 8 with Government's policy advisory council. - VNA/VNS Photo

Now, to fill you in on some fun facts from the enrichment data:

  • Administrative Simplification: The government's kickin' it old-school with plans to ease administrative procedures for private businesses, especially in business registration, to promote smoother operations [4][5].
  • Equal Access: PM Chinh's tightening the reins to ensure fair and transparent access to capital, land, and public assets for all private enterprises [5].
  • Business-oriented Training: The focus is on market-oriented training tailored to enterprise needs, where businesses get to steer the ship on commissioning educational institutions for relevant skills development [5].
  • Tax Environment: The government's aiming for a more supportive tax policy landscape, with an eye on boosting the business environment for private companies [5].
  • Science and Technology: The government's backing initiatives to boost the application of science and technology in business operations, driving up the competitiveness of private enterprises [5].
  • Healthy Competition: Policies are being devised to ignite the compete-o-meter among enterprises and encourage business freedom, creating a level playing field for all private businesses [5].
  1. Prime Minister Pham Minh Chinh is working on economic policies, focusing on the private sector, aiming to make it the main engine for Vietnam's economy.
  2. The draft resolution includes three categories: quickfire legal codifications and amendments, strategic long-term evaluations, and discussions on issues like land, capital, workforce, technology, taxes, and administrative reform.
  3. The government aims to ease administrative procedures for private businesses and promote smoother operations.
  4. PM Chinh is ensuring fair and transparent access to capital, land, and public assets for all private enterprises.
  5. The government is planning market-oriented training, tailored to enterprise needs, where businesses will get to steer educational institutions for relevant skills development.
  6. The government aims to create a more supportive tax policy landscape to boost the business environment for private companies.
  7. The government is backing initiatives to boost the application of science and technology in business operations, aiming to drive up the competitiveness of private enterprises.
  8. Policies are being devised to encourage healthy competition among enterprises and foster business freedom, creating a level playing field for all private businesses.
  9. The government is working on a legal framework that identifies and clarifies intangible assets and reaffirms the principle against criminalizing civil and economic relations.

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