Hanoi: The 15th National Assembly (NA) approved a resolution supporting private sector development with an overwhelming majority on May 17. Out of the 434 legislators present, 429 voted in favor during the 9th session of the assembly, signaling strong legislative backing for enhancing private sector engagement in the economy.

According to Vietnam News Agency, the newly approved resolution consists of seven chapters and 17 articles. It aims to swiftly institutionalize the Party’s guidelines from Resolution No. 68-NQ/TW. This initiative focuses on improving the investment and business environment, facilitating access to resources for the private sector, and promoting advancements in science, technology, innovation, and digital and green transformation. Additionally, the resolution seeks to develop human resources and increase the participation of private enterprises in national key projects. The resolution officially came into effect on May 17, marking a significant milestone in the government’s efforts to bolster private sector growth.