Immediately after Resolution 79 was announced, some extremist and ill-intentioned organizations and individuals distorted it, claiming it was merely a "rehash of old ideas," continuing to "protect" the sector they labeled as inefficient. Some even argued that affirming the leading role of the state-owned economy was a manifestation of "conservatism" and "stubbornness," while the private sector was the one making the largest contribution and "deserving" of a central position.

These arguments are not only one-sided but also deliberately distort the concept. Their ultimate goal is to deny the role of the state economy, thereby weakening the material foundation of socialist orientation and steering the economy off the path chosen by the Party and the people.

In fact, Resolution 79 does not deny or diminish the role of the private economy. Prior to that, on May 4, 2025, the Politburo issued Resolution No. 68-NQ/TW on the development of the private economy, identifying the private economy as "one of the most important driving forces of the national economy," a pioneering force in promoting growth and enhancing national competitiveness.

Resolution 68 also calls for the complete elimination of all prejudices and barriers, creating the most favorable conditions for the strong, equal, and transparent development of the private economy. In the overall context, Resolution 79 and Resolution 68 are not contradictory but complement and support each other. One emphasizes the leading role of the state economy; the other affirms the important driving role of the private economy. This is a comprehensive approach, consistent with the characteristics of Vietnam's socialist-oriented market economy – where all economic sectors coexist, develop sustainably, compete fairly, and cooperate equally under the management of a socialist rule of law state.

In practice, the state-owned economy holds control over key sectors such as energy, finance and banking, telecommunications infrastructure, strategic infrastructure, defense and security, and vital resources. These are areas of vital importance to national sovereignty and long-term stability, and cannot be left to the mercy of a purely market mechanism.

The total annual net revenue of the state-owned enterprise sector is now many times higher than it was 20 years ago, increasing from approximately 610 trillion VND to over 4.3 million trillion VND; tax contributions to the state budget have increased nearly fivefold, reaching over 180 trillion VND each year.

According to data released by regulatory agencies, the total annual net revenue of the state-owned enterprise sector is now many times higher than it was 20 years ago, increasing from approximately 610 trillion VND to over 4.3 million trillion VND; tax contributions to the state budget have increased nearly fivefold, reaching over 180 trillion VND per year.

Furthermore, this region plays a crucial role in infrastructure development investment, implementing large-scale projects with high spillover effects that the private sector finds difficult or unwilling to participate in due to long payback periods and high risks.

Notably, during challenging times such as the global financial crisis, pandemics, and major natural disasters, the state-owned economic sector has served as a "pillar," contributing to market stability, ensuring the supply of essential goods, maintaining employment, and ensuring social security. This is vivid evidence of the State's regulatory, guiding, and responsive role through economic instruments.

However, affirming the leading role does not mean avoiding limitations. Resolution 79 frankly acknowledges the shortcomings of the state-owned economy: the operational efficiency of some enterprises is not commensurate with the resources they possess; governance remains inadequate; the mechanisms for supervision, decentralization, and delegation of power are sometimes unclear; and the situation of scattered investment and slow technological innovation still occurs.

Identifying these bottlenecks demonstrates a proactive spirit and a genuine determination for reform, not just excuses. A prominent new feature of Resolution 79 is the strong shift in thinking from administrative command-based management to development-oriented management; from micro-level intervention to macro-level guidance; and from subsidies and protectionism to fair, transparent competition under a market mechanism with state management.

The document emphasizes the need to clearly separate the functions of state ownership from the functions of state management; to clearly delineate political tasks from production and business tasks; and to raise corporate governance standards in accordance with international practices. The resolution also addresses the improvement of institutions related to ownership, investment, bidding, and capital management; the development of a synchronized digital data system for monitoring and evaluating operational efficiency; and the promotion of digital transformation and innovation in the state-owned economic sector. These are fundamental solutions aimed at improving productivity, quality, and competitiveness, not just increasing scale.

Notably, Resolution 79 encourages the development of flexible, equitable, and transparent public-private partnership models; promotes the mechanism of "public investment - private management" or "private investment - public use" in appropriate fields, thereby expanding the scope of cooperation, leveraging the strengths of each economic sector, and creating a symbiotic development ecosystem.

In the context of increasingly fierce strategic competition among nations, the need to ensure economic security and self-reliance in technology, energy, and finance has become more urgent than ever. An economy lacking a strong core force to lead and regulate it is susceptible to dependence and vulnerability to external shocks. Therefore, strengthening and improving the efficiency of the state-owned economic sector is not merely a purely economic issue but also a strategic requirement for politics, security, and sustainable development.

Simultaneously, the private sector continues to be given favorable conditions to thrive, becoming a crucial driving force for growth. These two sectors do not negate each other but complement one another. The state-owned economy plays the role of "conductor," creating the environment and ensuring macroeconomic stability; the private sector leverages its dynamism, flexibility, and creativity in market exploitation and product and service innovation. When placed within a transparent institutional framework and fair competition, this combination will create synergistic strength for the economy.

It can be affirmed that Resolution 79 is a strategic step aimed at elevating the leading role of the state economy in a modern sense, consistent with the market economy and the requirements of integration.

Properly defining the leading role of the state-owned economy is not only aimed at protecting a particular economic sector, but also at ensuring the material foundation for the chosen development path; so that the Vietnamese economy can be self-reliant, flexible, and resilient in the face of all changes.

When the state-owned economy is reorganized towards a streamlined, efficient, transparent, and modern direction; when the private economy is freed from all creative resources; and when all economic sectors operate within a synchronized and stable system, then the goal of rapid and sustainable development, advancing towards socialism, will have more solid guarantees from practical experience.