Opportunities for foreign firms in Vietnam arising from Resolution no. 68-NQ/TW

The Vietnam Politburo in May 2025 issued Resolution No.68-NQ/TW, regarding private sector development in Vietnam. This Resolution serves as a launchpad for private sector growth, simultaneously opening new opportunities for foreign firms and international partners—especially in the financial services and payment field.

The relationship between Foreign Firms and Private Sector in Vietnam

In the context of a globalized economy, both domestic private enterprises and international businesses are essential economic drivers—and more importantly, mutually reinforcing partners.

Vietnam’s private sector brings agility, local market insights, and operational flexibility. International firms, in turn, offer huge capital. Together, they form high-value partnerships across supply chains, production, distribution, and especially digital payment solutions.

Notably, in fintech, local platforms like 9Pay—a licensed intermediary payment provider—are acting as crucial bridges, enabling secure, transparent, and scalable transaction connectivity between international partners and the Vietnamese market.

Resolution 68: Momentum for Private Sector Growth

Resolution 68 marks a significant shift in Vietnam’s policy direction, recognizing the private sector as a central pillar of national economic development, particularly in the digital era.

It introduces concrete measures to dismantle institutional and administrative barriers, foster a more transparent and investor-friendly environment, and enhance private enterprises’ access to resources, finance, and data. These efforts aim to usher in a new growth phase for domestic businesses—and in turn, broaden cooperation potential with foreign partners.

Why Private Sector Growth Matters to International Businesses

Resolution 68 includes provisions to strengthen linkages between domestic and foreign enterprises, creating direct and indirect benefits for international players:

• Access to capable local partners: As domestic firms upgrade capacity and scale, international businesses gain access to high-quality, reliable partners—lowering market entry costs and risks.

• Transparent and efficient business climate: A thriving private sector supports regulatory reform, reduces red tape, and improves ease of doing business—key for successful foreign market entry.

• Growing consumer market: Economic expansion and rising incomes drive consumption—providing an ideal landscape for scaling products and services.

• Rapidly advancing digital infrastructure: Resolution 68, combined with Vietnam’s national digital transformation agenda, is accelerating the development of a modern, interoperable digital economy. The financial infrastructure—especially in payments—is expanding quickly. Fintechs like 9Pay enable seamless integration of localized payment solutions, cross-border settlement, and a fully connected financial ecosystem.

In summary, as Resolution 68 takes effect and Vietnam’s private sector thrives, international businesses stand to gain—from a more open and efficient market, robust joint venture prospects, and a government agenda that prioritizes long-term global integration.

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Vietnam’s Fintech and digital payments at golden turning point as private sector gains momentum