Speaking at a seminar organized by Tien Phong Newspaper on 6/2, economic expert Pham Chi Lan stated that the issuance of Resolution 79 is a crucial piece that clarifies the role of the state economic sector, completing the picture of the economy's driving forces.

However, she emphasized that economic development cannot solely be a story of competition among major players. The two most important economic sectors, state and private, must work alongside each other to utilize national resources most effectively for the common good.

Pham Chi Lan suggested that the state should pioneer investment in strategic areas, establishing an initial foundation. Subsequently, the state should gradually cede these roles to the market when the private sector develops sufficient capacity to take over.

"The state and private economic sectors are not engaged in a 'win-lose' game or a pursuit of one sector's benefit, but rather aim for the sustainable development of the economy," she stated. According to her, both sectors can achieve success and develop through cooperation and a rational division of labor. Therefore, state-owned and private enterprises need to convene to clearly define responsibilities, ensuring that "whoever excels in a particular area focuses on it, avoiding waste and missed opportunities."

Pham Chi Lan, an economic expert, speaks at a seminar on state economic development on 6/2. *Photo: Tien Phong Newspaper*

Associate Professor Dr. Hoang Van Cuong, from the Finance and Budget Committee of the National Assembly, echoed this view, suggesting that policymakers must clearly delineate the playing field for state and private sectors. The state needs to maintain control over certain key areas, such as managing aviation and maritime sectors related to national sovereignty and security. However, in other sectors like energy, private entities can also participate.

Through restructuring, the number of state-owned enterprises (SOEs) has significantly decreased, from approximately 12,000 to nearly 1,300 entities. The majority of these SOEs now operate in pivotal, essential fields, contributing to macroeconomic stability and national security.

Resolution 79 of the Politburo on state economic development, issued earlier this year, highlights that the state economic sector will maintain a leading role in the economy. It serves as an important resource for the state to stabilize macroeconomics, guide development, and intervene when necessary. Nevertheless, this sector is also equal before the law with other economic sectors, engaging in cooperation and fair competition.

At the seminar, Doan Thanh Tuan, Deputy Director of the Department of State Enterprise Development (Ministry of Finance), explained that Resolution 79 proposes solutions for concentrating on developing strong, large-scale economic groups and state-owned enterprises that play a leading role.

Accordingly, the selected industries and sectors must be the "lifeblood" of the economy, ensuring national, economic, and social security. These should also be areas where the private sector lacks sufficient capacity, requiring state-owned enterprises to pave the way.

"State-owned enterprises will act as 'seed capital,' activating and guiding investment resources from across society," Tuan said.

Regarding solutions for developing the state enterprise sector, Doctor Nguyen Nhu Quynh, Director of the Institute of Economic Strategy and Policy, emphasized that the human factor is decisive. Therefore, the staff within these enterprises must understand the market, possess innovative thinking, dare to act, take responsibility, and be protected in their execution.

From a business perspective, Le Quang Vu, Board Member of Vietnam Expressway Development Investment Corporation (VEC), suggested that policymakers need to create conditions for state-owned enterprises to have sufficient competitive capacity. This involves shifting their thinking from "management" to "development creation."

He noted that state-owned enterprises do not need to hold a primary role in all sectors. Instead, they should focus on key, pillar industries and sectors of the economy. Concurrently, the state must grant state-owned enterprises autonomy under market mechanisms, coupled with transparency and accountability.

Phuong Dung