Deputy Prime Minister Nguyen Chi Dung recently signed a decision, approving a program to encourage private enterprises to take part in developing telecommunications, and other infrastructure for national digital transformation through 2030.
Party General Secretary To Lam emphasized that “a strong and prosperous economy cannot rely solely on the state or foreign-invested sectors; it must also draw on the internal strength of a dynamic private sector, which plays a pioneering role in driving national innovation and development.” His remark highlights that the private sector is not merely a component of the economy, but a vital pillar of Vietnam’s growth in the new era.
During the period, more than 231,000 enterprises entered or re-entered the market, up 26% against the same period in 2024 and 1.32 times higher than the number of firms withdrawing.
The programme aims to harness the strengths of the private sector, mobilise all social resources, and use them effectively for developing digital infrastructure.
A UK-based scholar has praised the resolution's specific measures designed to create a level playing field and transparent environment for private enterprises, focusing on improving the institutional framework and reducing administrative procedures in business registration, mergers, acquisitions, and dissolution, while cutting costs and time burdens for enterprises.
According to Brand Finance, Vietnam's national brand value reached 507 billion USD in 2024, ranking 32nd globally and climbing one position from the previous year.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
When large private enterprises of Vietnam participate in urban railway projects, they are expected to make big changes to progress, giving HCM City the opportunity to build an urban railway network in a fast, quality, and cost-saving manner.
Many businesses hope that access to shared equipment will help reduce investment costs, promote innovation, and strengthen cooperation.
The private sector has played a vital role in mobilising resources, spurring economic growth, boosting budget revenues, creating jobs, enhancing living standards, and fostering global integration.
Only about 20 Vietnamese companies can nearly meet the technical, technological, and financial requirements of the demanding North-South high-speed rail project.
Steel production has transformed significantly thanks to active participation from private enterprises, which have invested big in advanced production technologies and completed steel manufacturing lines with high-capacity plants, resulting in diverse and high-quality products.
Bac Ninh is working to support domestic private sci-tech enterprises in accordance with the Party Central Committee's policy, with the goal of making the province a role model in promoting and assisting the private sector.
Recognising the crucial role of the private sector, the Party and State have implemented robust policies to drive its development, aiming for rapid and sustainable economic growth.
