Party leader To Lam speaks at a working session with the Party Central Committee’s Commission for Policies and Strategies, Hanoi, March 7, 2025.

Chairing a working session with the Party Central Committee’s Commission for Policies and Strategies, Party leader Lam emphasized that the private sector—together with the state and collective economies—is a pillar of Vietnam’s socialist-oriented market economy and sustainable development.  

He stressed the need for a unified understanding of the private sector’s role, ensuring that private enterprises can operate in all sectors not explicitly prohibited by law.  

"There must be a clear strategy for private sector development that aligns with the country's economic landscape and the evolving geoeconomic and geopolitical environment, ensuring adaptability, resilience, and competitiveness. It is crucial to improve infrastructure and human resources to support the private sector,” he said.

General Secretary Lam called for breakthrough policies to establish large-scale, leading private enterprises in key industries, along with enhancing the business and investment climate to support the sector’s long-term, sustainable growth.