Vietnam

Tăng cường phân cấp, phân quyền trong thúc đẩy phát triển kinh tế tư nhân

Bao Dien Tu | Local Language | News | Jan. 23, 2026 | UndeterminedInitiative

At the 14th National Congress of the Party on January 21, Secretary of the Saigon Ward Party Committee Nguyen Tan Phat outlined a strategy for leading rapid and sustainable private economic development in Saigon Ward, a central urban area in Ho Chi Minh City with significant historical and economic importance. Saigon Ward is a hub for international finance, commerce, and high-end services, featuring a modern urban economy that includes digital, sharing, night-time, financial, and 24/7 service economies. The Ward operates under a two-tier local government system which enables closer engagement with organizations, enterprises, and residents.

The Ward Party Committee has developed a developmental program for high-end trade, services, finance, and international tourism for 2025-2030, aligned with the Politburo Resolution No. 68-NQ/TW and recent amendments supporting special mechanisms and policies for Ho Chi Minh City. Key economic measures include enhancing quality and service in supermarkets, shopping centers, and retail stores, building free trade commercial centers for diverse high-end products, and attracting financial experts and strategic investors to the International Financial Center. Administrative reforms are focused on simplifying procedures, streamlining the apparatus, and accelerating digital transformation to facilitate rapid access to public services.

Economic statistics indicate significant growth in Saigon Ward’s private economy, with 14,283 enterprises and business households as of early 2026, an increase of 966 units since mid-2025. Local budget revenue substantially exceeded the 2025 targets, with state budget revenue reaching 186.67% of the assigned estimate. The 2026 budget sets a target of 10,453 billion VND, with the private economy expected to contribute over 64% of this revenue, underscoring its importance as a dynamic driving force behind local development.

Private sector participation in socio-economic projects and facility development in Saigon Ward has increased, reflecting strong confidence from entrepreneurs and enterprises in the political and socio-economic environment. Nguyen Tan Phat emphasized promoting the Party’s adaptive leadership, encouraging Vietnamese entrepreneurs, and the State’s need to innovate alongside fast-changing market conditions. Harmonizing interests among the State, businesses, and people is essential for sustainable private economic development.

The effectiveness of the market economy relies on competition, innovation, creativity, and adaptability, with decentralization and delegation in economic management identified as critical to promoting private sector growth. Policies around corporate income tax and procedure fees must align with city and national development goals. Saigon Ward, newly established in July 2025 with a population of 47,022 and a strong Party organization, aims to become a dynamic economic and financial center, contributing to Ho Chi Minh City's vision as an international mega-city and Asian destination.

Vietnam Net - E | English | News | Jan. 23, 2026 | Corporate Corruption or Fraud

Le Minh Tri, Secretary of the Party Central Committee and Standing Deputy Head of the Central Internal Affairs Commission, revealed that during the 13th Party Congress term, many large-scale, highly organized corruption cases resembling interconnected "ecosystems" were uncovered and addressed. These corruption networks involved banks, securities firms, valuation agencies, and notary offices, with hundreds of affiliated companies manipulating stocks, rigging auctions, distorting public investment, and exploiting crises like the COVID-19 pandemic. The anti-corruption campaign was comprehensive, consistent, and led directly by the Party, significantly strengthening Party discipline, enhancing public trust, and reducing corruption, waste, and misconduct across government levels.

The campaign's success included improved asset recovery and tighter coordination between Party inspection bodies and judicial agencies. Moving forward under the 14th Party Congress, Le Minh Tri emphasized the need to reinforce Party leadership, uphold discipline, and implement a stricter yet humane legal framework that supports economic growth. He stressed the importance of legal and institutional reforms to close loopholes exploited by corrupt actors, eliminate regulatory deadlocks, and align with recent Politburo resolutions focused on legislative innovation and private sector development.

Prevention efforts will focus on strengthening transparency, expanding asset monitoring, and promoting cashless transactions. Empowering prosecutors to initiate lawsuits protecting public interests and encouraging voluntary cooperation for damage recovery are also priorities. The anti-corruption institutions must be efficient, with clear mandates from central to local levels, and policies should protect innovation while sanctioning irresponsibility. Le Minh Tri highlighted the need to foster a culture of integrity through education and to ensure anti-corruption bodies themselves maintain the highest ethical standards to effectively serve as guardians against corruption.

Vietnam Net - E | English | News | Jan. 23, 2026 | UndeterminedEconomic Growth

During a recent working session leading up to the 14th Congress, Vietnamese delegates engaged in detailed discussions on draft policy documents shaping the country's future development. Prime Minister Pham Minh Chinh highlighted lessons from the previous government term and stressed the importance of institutionalizing the Party’s resolutions to generate new growth drivers. He emphasized economic development as the central goal, with balanced focus on national defense, foreign affairs, security, culture, and social welfare. The Prime Minister pointed to a shift from reactive governance to agile, science-based policy implementation, citing Vietnam’s successful COVID-19 vaccine campaign and responses to global challenges as examples of this new approach. Looking ahead, he reaffirmed the ambition for double-digit economic growth by 2030, requiring bold reforms, strong project execution, and a dynamic mindset.

Deputy Prime Minister Mai Van Chinh underscored “self-reliance and resilience” as key principles underpinning Vietnam’s sustainable rise, aiming to reduce external dependency. He stressed that party documents must be concise, actionable, and clearly assign responsibilities, resources, and outcomes. National defense strategy should clarify allies and challenges while promoting dual-use defense industries to integrate economic and strategic interests. Delegates highlighted the need for concrete growth targets such as per capita income and the Human Development Index, and emphasized strengthening agriculture as a strategic sector with increased public investment to leverage private and foreign capital.

The focus on innovation, sustainability, and technology-driven growth was significant. Delegates from Ho Chi Minh City urged policies to elevate labor productivity, science and technology contributions, and green development. They highlighted Vietnam’s current overreliance on low-value manufacturing and called for digital economy strategies centered on AI, digital governance, and the digital society as new growth engines. Environmental concerns, especially water security and marine resource protection in the Mekong Delta, were also raised. Supporters of shifting towards knowledge-based, innovation-driven growth noted the intensifying global competition in technology and cyberspace and advocated for building strategic autonomy through knowledge power and coordinated diplomacy.

Central to the discussions was the role of the people as the foundation of Vietnam’s strength. Delegates called for clearer policy articulation on empowering citizens as agents of change and for detailed implementation plans to foster national unity and solidarity. Overall, the draft documents were seen as reflecting collective intelligence and will, providing a political foundation as Vietnam embarks on an era characterized by self-reliance, transformative growth, and national pride.