Parliament urged to enact a framework law to guarantee private sector development rights.

Delegates urged the National Assembly to include in the legislative program a foundational framework law to ensure the rights to develop the private economy, as lawmakers continued deliberations on the implementation of the 2025 socio-economic development plan, the state budget, early conditions in 2026, and the five-year plan for 2026–2030.

Administrative procedures and the push for “two-digit” growth

At the afternoon session on April 20, during the second session of the first plenary, 25 deputies proposed solutions and commitments from the Government, the Prime Minister, the National Assembly, and the public to support socio-economic development in the next period—particularly the goal of achieving “two-digit” growth.

Deputy Hoang Minh Hieu (Nghe An) said administrative procedures remain burdensome for both people and enterprises. He cited the Provincial Competitiveness Index (PCI) 2024, noting that nearly 24% of enterprises spend more than 10% of working time to understand and comply with administrative procedures. He argued that simplifying procedures should be treated not only as an administrative task, but as a central solution to unlock resources, improve competitiveness, and strengthen market confidence.

“We must review which procedures are necessary, and which are outdated and should be scrapped,” he said.

Private sector role, export gap, and credit access

Deputy Pham Trong Nhan (Ho Chi Minh City) focused on the private sector’s role and the barriers it faces. He cited government GDP projections for 2025 of 8.02%. He said the private sector contributes about 51% of GDP, more than 30% of the state budget, and provides jobs for over 82% of the labor force and around 60% of total social investment.

Despite accounting for more than half of GDP, the private sector represents only about 30% of exports, with the remainder coming from foreign direct investment (FDI). Deputy Nhan said this indicates the private sector is largely concentrated in domestic markets, outsourcing, or lower-value segments, while strategic areas such as high technology and infrastructure lack strong private-sector leadership.

He also pointed to PCI findings that access to credit remains the biggest challenge for the private sector, with only about 30% of firms able to access formal credit.

Deputy Nhan said that while there are existing legal instruments—including the Enterprise Law, the Investment Law, and the SME Support Law—these laws mainly regulate separate areas. What is missing, he argued, is a guiding foundational principle that guarantees the private sector’s rights and builds trust across the legal system.

“It is urgent for the National Assembly to include in the legislative program a foundational framework law that guarantees the right to develop private economy, and it cannot be delayed any longer,” he said.

Policy direction: productivity, R&D, and higher-quality FDI

In follow-up remarks, Deputy Pham Trong Nhan emphasized long-term development. To achieve “two-digit” growth, he said Vietnam needs to shift from growth driven by breadth to growth driven by depth, with productivity and science- and technology-led innovation as the core engine.

He proposed raising research and development (R&D) investment to at least 1.5% of GDP. He also suggested encouraging firms to allocate funds to a Science- and Technology Fund, exempting taxes on applied R&D activities, and establishing a National Innovation Support Fund to support technology firms, the supporting industry, and digital transformation.

On FDI, he said attracting foreign investment should move from quantity to quality, prioritizing projects with technology transfer commitments, using domestic labor, and linking with domestic firms.

Revenue measures and efficiency considerations

Deputy Tran Van Lam argued for budget savings and revenue enhancement to maximize efficiency and support sustainable development. He said if higher revenue dampens production or business activity, or undermines long-term growth potential, the effectiveness of revenue measures should be reconsidered using a holistic approach—linking the goal of improving resource-use efficiency to rapid and sustainable development.

Next steps in the National Assembly’s agenda

On April 21, the National Assembly continued discussions on budget performance, the five-year plan for 2026–2030, mid-term public investment, and the five-year financial plan for 2026–2030.

In the morning session, lawmakers heard the Government’s proposal to establish Dong Nai City as a centrally governed city. After group discussions, most deputies agreed with the proposal and the appraisal report, and suggested that the effective date of the resolution be April 30, 2026.