Harnessing Party members’ potential in business

As Vietnam strives to achieve its goals of rapid and sustainable development, tapping the economic potential of Party members is not merely a matter of their participation in business. It is also a requirement for building a contingent of Party members who demonstrate strong political commitment, dynamism, creativity and social responsibility.

According to statistics from the Vietnam Chamber of Commerce and Industry, by May 2026, Vietnam had approximately one million enterprises in the private sector, accounting for 97% of all businesses nationwide, contributing more than 50% of gross domestic product (GDP) and over 30% of total state budget revenue.

Economic experts believe that for the private sector to truly become “one of the most important driving forces” as outlined in the Party’s new orientation, the country needs an institutional environment that is sufficiently open and secure.

A recent national conference to disseminate and implement Regulation No. 224-QD/TW, dated October 14, 2026, issued by the 14th Central Committee of the Communist Party of Vietnam on Party members’ participation in investment and business activities, replacing Regulation No. 15-QD/TW dated August 28, 2006, is considered more in tune with the demands of the times.

The new regulation is expected to create favorable conditions for Party members engaged in business to develop in the right direction and generate material wealth, jobs and revenue for the country. At the same time, it aims to ensure that public authority is not commercialized or abused to serve personal interests or those of vested-interest groups.

The city has cut administrative processing time by at least 50%; digitized and verified 1,114,746 land parcels in the National Land Database; integrated its shared data repository with 783 datasets and 335 data entities; and operated an Intelligent Operations Center (IOC) with 22 monitoring indicators, alongside the AI-powered 1022 chatbot, which provides round-the-clock support for residents and businesses.

These measures help remove bottlenecks related to land, capital and administrative procedures, enabling private enterprises to invest with confidence over the long term and venture into challenging fields and strategic technology industries of the nation and the city.

The city has also promptly approved a scheme to establish and develop startup, innovation and artificial intelligence zones and centers, while implementing training programs to support innovation and strengthen the management capacity of small- and medium-sized enterprises.

All 114 communes, wards and special administrative zones in the city have established task forces to support business households in transitioning to the enterprise model, with 177 business households converted into enterprises from May 2025 to August 2026.

Alongside institutional breakthroughs that shift the mindset from “permission” to “encouragement and facilitation”, promoting a pioneering, dynamic and creative spirit in the pursuit of legitimate wealth while upholding the rule of law will enable Party members nationwide, including those in Hai Phong, to contribute to the country’s rapid and sustainable development.

LE OANH