In the context that Vietnam will not be provided with the World Bank's preferential ODA loans since July 2017, along with the downward trend of foreign capital flows, the development of the private economy has become a key issue to the national economy. The importance of this sector has been confirmed, but there are still barriers that need to be addressed.
Having been operational for more than 15 years, this enterprise is now creating jobs for 1 thousand workers. Its products have been present in almost all key national projects.
The enterprise said in order for the private sector to further develop, the government should facilitate their operation.
Although there are preferential policies introduced by the Government, businesses all say they expect a reduction in bureaucracy, abuse of power, abuse of checks and unofficial fees.
During more than 30 years of development, Vietnam's private sector contributed 40% of the country's GDP. By the end of last year, more than 110,000 enterprises had registered to establish. This means that non-state businesses are increasing in number and proportion in the national economy. However, businesses in this area are facing difficulties.
Private businesses are looking forward to removing the barrier in order to further develop.-VNA
