Clear mechanisms and policies play a specially important role as a launching platform for the private economic sector to make breakthroughs and greatly contribute to the national economic development.
The private sector is seen as a mainstay of Hanoi’s economic development as the nearly 250,000 firms make up 40 percent of gross domestic product (GDP) and generate jobs for over 50 percent of the labourers in the city.
In experts’ view, the transfer of households to enterprises is necessary to standardise and avoid the current abuse. However, the problem is that it is difficult to transfer all of them immediately.
Cao Duc Phat, deputy head of the Party Central Committee's Economic Commission, and Bouasone Bouphavanh, head of the Lao National Economic Research Institute, exchanged experience in building socio-economic development policies during a working session in Hanoi on March 19.
Minister of Planning and Investment Nguyen Chi Dung talks to the Vietnam News Agency on the Government’s resolve to help private enterprises become a mainstay in the national economy.
The private economic sector has greatly contributed to promoting socio-economic development of the country, heard a workshop in the Mekong Delta province of Bac Lieu on January 5.
The increasing number of newly-established firms in the southern region in recent years has demonstrated their stronger confidence in Party and State policies designed to support the development of the private economy.
Management agencies need to focus on financial and monetary policies besides long-term solutions such as restructuring the economy, reforming State-run businesses, and developing private economy.
A national conference for Party officials to study the three resolutions related to the economy adopted at the fifth plenum of the 12th Party Central Committee was opened in Hanoi on June 29.
Party General Secretary Nguyen Phu Trong has signed into issuance three resolutions adopted at the 12th Party Central Committee’s fifth plenary meeting that took place in early May.
The fifth plenum of the 12th Party Central Committee discussed many important issues related to major orientations for national socio-economic development and Party building and revamping.
Private economy was earlier only acknowledged as part of the multi-sector economy, but it has been regarded a key driving force for the economy and a vital factor to fulfill set tasks of the State.
Vietnam needs a number of large and medium-size firms in order to mentor and push forward small businesses, which are the backbone of a healthy economy, according to VCCI General Secretary Pham Thi Thu Hang.
Experts discussed measures to realise Vietnam’s aspirations of dynamic private economic development and institutional modernisation during a workshop in Ho Chi Minh City on June 16.
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