In the national digital transformation strategy, one of the key tasks is the comprehensive digital transformation of all sectors, agencies, and state organizations, with the goal of enhancing transparency and promoting operation within a digital environment.
In this context, the Government is entrusting the private sector with investing in, building, and developing the national digital infrastructure, instead of relying primarily on state-owned enterprises (SOEs).
Developing a digital economy requires investment in science and technology
The Politburo's Resolution 57-NQ/TW (Resolution 57), issued on December 22, 2024, on breakthroughs in the development of science and technology (S&T), innovation, and national digital transformation, is considered a crucial pillar for private enterprises as well as scientists. Therefore, realizing this resolution through specific policies needs to be implemented quickly, synchronously, and decisively; otherwise, the opportunity for breakthroughs will be missed.
Resolution 57 also clearly demonstrates the Party and State's strong commitment to the development of S&T and innovation, concretized by clearly defined resources. This includes the determination to increase investment in S&T, innovation, and digital transformation.
Accordingly, by 2030, funding for research and development (R&D) will account for 2 percent of the total national GDP, with social funding accounting for over 60 percent; at least 3 percent of the total annual budget expenditure will be allocated to science and technology development, innovation, and national digital transformation, gradually increasing as development needs arise.
In the past, state budget expenditure on science and technology has consistently been below 1 percent of total state budget expenditure. With increased investment under Resolution 57, the Ministry of Finance needs to shift funding towards science and technology, thereby creating a foundation for the development of this important field.
Regarding science and technology, there are currently three important issues that need to be addressed. First, implementing a model to ensure output for businesses; second, maximizing the mobilization of resources for science and technology development; and finally, handling artificial intelligence assets and establishing mechanisms for owning research results to ensure the rights of scientific researchers.
The current reality shows that mobilizing social investment in science and technology also requires appropriate policies. With the proportion of investment from the state budget remaining low, businesses need to play a central role, but legal barriers and management mindsets have not yet been resolved. Along with that, the approach to the scientific community needs to change, empowering them with autonomy and trust, and managing them based on output quality rather than just focusing on input procedures.
Private economy - driving force
A key highlight in Resolution 68-NQ/TW (Resolution 68) dated May 4, 2025, of the Politburo on the development of the private economy is the requirement for the State to accompany and support the development of private enterprises, especially in the fields of innovation, digital transformation, and enhancing competitiveness. In practice, this commitment is most clearly concretized through the construction of a comprehensive digital ecosystem for businesses.
Right from the business registration stage, the implementation of online registration, electronic authentication, and digital licensing helps businesses enter the market faster, at lower costs, and with greater transparency. This is not just an administrative procedure reform, but a crucial first step for private enterprises to fully participate in the digital economy. During operation, the electronic public service system acts as a bridge between businesses and the State.
Procedures related to taxes, customs, insurance, labor, or access to support policies, if integrated and operated on unified digital platforms, will help businesses reduce the burden of compliance and improve forecasting capabilities. This is particularly consistent with the spirit of Resolution 68 on creating the most favorable conditions for the stable and long-term development of private enterprises.
Digital transformation support packages for small and medium-sized enterprises (SMEs) are also a crucial element in realizing Resolution 68. With publicly announced support programs, online registration, and transparent progress tracking, businesses will have more confidence in the policy and be more proactive in investing in technology. This is a key factor in promoting widespread digital transformation in the private sector, instead of concentrating it in only a few businesses.
The increasing prevalence of electronic transactions also opens up new opportunities for innovation. From electronic contracts and digital payments to digital supply chain management, SMEs can operate more flexibly, reduce dependence on traditional processes, and scale up faster. This is especially important in the context of increasingly fierce global competition, where speed and adaptability determine the survival of businesses. The digital environment also helps SMEs easily connect with the global market, aligning with Resolution 68's direction on enhancing integration capacity.
In the long term, Resolution 68 aims not only to increase the number of private enterprises but, more importantly, to form a modern force of private enterprises with regional and global competitiveness. Through digital transformation, private enterprises can restructure their governance models, improve labor productivity, and utilize resources more efficiently. This is the foundation for businesses to enhance their resilience to economic fluctuations and achieve sustainable development.
A strongly digitized private economic sector will contribute positively to the formation of a national digital economy, in line with the spirit of Resolution 68 on harmonious development among economic sectors. Vietnam will have more impetus to improve its competitiveness and position on the international stage.
