On the morning of July 7, the Vietnam Fatherland Front Committee of Ho Chi Minh City held a survey conference on policies to support and develop the private sector in the city.
The conference was chaired by Truong Thi Bich Hanh, Standing Vice Chairwoman of the Vietnam Fatherland Front Committee of Ho Chi Minh City.
At the conference, Pham Minh Tuan, Vice Chairman of the Vietnam Fatherland Front Committee of Ho Chi Minh City, said the survey aims to gather feedback from businesses, cooperatives, household businesses, and business associations to evaluate the effectiveness of mechanisms and policies supporting private sector development. The survey results will serve as the basis for recommendations to further improve policies and mechanisms, enhance the investment and business environment, and improve the implementation of Resolution 68.
According to businesses, Resolution 68 represents a shift in governance from control to development facilitation, from pre-approval to post-inspection, from procedure-based management to risk-based management, while promoting closer cooperation with businesses.
However, some participants said a considerable gap remains between policy direction and implementation. Businesses said they expect adopted policies to be put into practice quickly and produce tangible improvements in production and business activities.
Chairman Nguyen Vinh Huy of the Saigon Central Area Business Association said small and medium-sized enterprises continue to face heavy pressure from financing costs, business premises, logistics, digital transformation, legal compliance costs, and delayed payments that tie up capital. He said authorities should move more decisively from a regulatory mindset to one focused on partnership and development so that policies translate into tangible benefits for businesses.
The issue raised most frequently by businesses at the conference was access to financing. Representatives from Bcons Construction Investment JSC, Southern Construction Works Company, Novatech Group, and several business associations said that although the Government and the State Bank of Vietnam have introduced numerous policy measures, small and medium-sized enterprises still struggle to obtain financing at reasonable costs. Many businesses also said lending interest rates remain high, while loan eligibility continues to depend heavily on collateral.
Based on these concerns, businesses proposed the prompt strengthening of the Credit Guarantee Fund for Small and Medium-sized Enterprises, the expansion of medium- and long-term credit packages, and the development of lending mechanisms based on cash flow, operational performance, and business credibility rather than primarily on collateral.
Business representatives also called for continued administrative reform, shorter tax refund processing times, lower logistics costs, faster digitalization of administrative procedures, stronger data connectivity and sharing between government agencies and businesses, and solutions to obstacles related to land, production sites, workforce training, digital transformation, and green transition.
From the perspective of a manufacturing business, Phung Quoc Man, General Director of A&M Flooring Company, said the key priority is ensuring that policies are implemented effectively. He said monitoring mechanisms are needed to ensure businesses genuinely benefit from support policies, particularly in the areas of credit, tax refunds, logistics, and human resource development.
Representatives of logistics, technology, and food industry associations also called for further reductions in compliance costs, accelerated digitalization of customs procedures, improved data-sharing mechanisms, and the development of pilot programs for technology companies.
Concluding the conference, Standing Vice Chairwoman Truong Thi Bich Hanh of the Vietnam Fatherland Front Committee – HCMC said participants shared the view that Resolution 68 is a sound policy that opens new opportunities and strengthens confidence within the business community. She said support policies should continue to be reviewed, refined, and implemented more vigorously and in line with practical needs, particularly for small and medium-sized enterprises.
She said the city measures the success of Resolution 68 by business satisfaction, stronger competitiveness, the growth of private enterprises, and the sector's increasing contribution to the development of Ho Chi Minh City.
