Van Don International Airport, developed by private Sun Group, was put into operation on December 30, 2018 (Photo: VNA) Hanoi (VNS/VNA) - Vietnam willcontinue to hasten efforts to improve the business climate in terms of qualityto create favourable conditions for the private sector to play its role as adriver in promoting rapid and sustainable economic growth.
The country targeted to have one million firms by 2020, of which, there wouldbe a lot of large private corporations who were arising strongly in bothdomestic and international markets in key sectors like manufacturing, aviation,finance and banking, agriculture and telecommunications.
According to Nguyen Xuan Thang from the Ho Chi Minh National Academy ofPolitics, the private sector was still facing difficulties in accessingresources, market opportunities and advanced technologies.
President and CEO of Vietjet Nguyen Thi Phuong Thao said at the VietnamEconomic Forum 2019 that Vietnam in recent years had sent a strong messageabout building a constructive government with open mechanisms for the privatesector.
However, Thao said it was necessary to speed up the privatisation ofState-owned enterprises (SOEs) and the restructuring of the banking sector tominimise the negative impacts on macro-finance and growth prospects.
She also urged the Government to develop mechanisms and policies to exploitresources of the private sector for infrastructure development and enable themto grasp opportunities from Industry 4.0 to enhance productivity.
The private sector should be encouraged to participate in what they could dowell, Thao said, stressing that private firms expected to have a fairplayground with other economic sectors.
Prime Minister Nguyen Xuan Phuc said in a dialogue at the World Economic Forumin Davos that the private economic sector was an important driver for growth ofVietnam amid an anticipated slow-down of the global economy.
The PM added that attracting foreign direct investment together with enhancinglinkage with the domestic sector also played a significant role in promotingeconomic development.
According to Ousmane Dione, World Bank Vietnam’s Country Director, Vietnamfaced a significant opportunity in upgrading its domestic value contribution tocapture the benefits of FDI inflows and global value chains.
This required enhancing linkages with the domestic economy, he stressed.
Vu Dai Thang, Deputy Minister of Planning and Investment, said that the goal ofhaving one million firms by 2020 was within reach, given the efforts ofimproving the business climate.
The Ministry of Planning and Investment recently made public a draft law toamend the Law on Investment and the Law on Enterprise, which aimed to createfavourable conditions for the businesses and private sector to develop.
Vietnam set goal of increasing the contribution of the private sector to thecountry’s gross domestic product (GDP) to 50 percent by 2020, 55 percent by2025 and 60-65 percent by 2030.
Every year, the private sector generated 1.2 million jobs and contributed 43 percentto GDP. — VNS/VNA
The country targeted to have one million firms by 2020, of which, there wouldbe a lot of large private corporations who were arising strongly in bothdomestic and international markets in key sectors like manufacturing, aviation,finance and banking, agriculture and telecommunications.
According to Nguyen Xuan Thang from the Ho Chi Minh National Academy ofPolitics, the private sector was still facing difficulties in accessingresources, market opportunities and advanced technologies.
President and CEO of Vietjet Nguyen Thi Phuong Thao said at the VietnamEconomic Forum 2019 that Vietnam in recent years had sent a strong messageabout building a constructive government with open mechanisms for the privatesector.
However, Thao said it was necessary to speed up the privatisation ofState-owned enterprises (SOEs) and the restructuring of the banking sector tominimise the negative impacts on macro-finance and growth prospects.
She also urged the Government to develop mechanisms and policies to exploitresources of the private sector for infrastructure development and enable themto grasp opportunities from Industry 4.0 to enhance productivity.
The private sector should be encouraged to participate in what they could dowell, Thao said, stressing that private firms expected to have a fairplayground with other economic sectors.
Prime Minister Nguyen Xuan Phuc said in a dialogue at the World Economic Forumin Davos that the private economic sector was an important driver for growth ofVietnam amid an anticipated slow-down of the global economy.
The PM added that attracting foreign direct investment together with enhancinglinkage with the domestic sector also played a significant role in promotingeconomic development.
According to Ousmane Dione, World Bank Vietnam’s Country Director, Vietnamfaced a significant opportunity in upgrading its domestic value contribution tocapture the benefits of FDI inflows and global value chains.
This required enhancing linkages with the domestic economy, he stressed.
Vu Dai Thang, Deputy Minister of Planning and Investment, said that the goal ofhaving one million firms by 2020 was within reach, given the efforts ofimproving the business climate.
The Ministry of Planning and Investment recently made public a draft law toamend the Law on Investment and the Law on Enterprise, which aimed to createfavourable conditions for the businesses and private sector to develop.
Vietnam set goal of increasing the contribution of the private sector to thecountry’s gross domestic product (GDP) to 50 percent by 2020, 55 percent by2025 and 60-65 percent by 2030.
Every year, the private sector generated 1.2 million jobs and contributed 43 percentto GDP. — VNS/VNA
VNA
