Workshop highlights role of private economy in globalization hinh anh 1At the workshop (Source:

Bac Lieu (VNA)
– 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.

During the event, participants highlighted the importance of pushing the development of the private economic area in the context of globalization and the 4th industrial revolution.

They agreed that the private economic sector is one of the crucial factors helping boost the national development, increase establishment of new businesses, create more jobs and effectively tap social resources for the socio-economic development.

Attendees stressed the need to renovate policies for private economic development, which is considered as an important motivation for the socialism-oriented market economy.

Measures to foster private economic development in the Mekong Delta region were also discussed at the event.

According to Le Quoc from the Ho Chi Minh National Academy of Politics, the 4th industrial revolution will be the foundation for strong economic transformation from resource and low cost labour-based models to knowledge economy and artificial intelligence.

Meanwhile, Long Van Nghia from the Manh Long One Member Co., Ltd in Bac Lieu city said the revolution helps improve the competitiveness of the private enterprises through improving labour productivity, output, quality, thus reducing production costs.

Prof. Dr. Nguyen Xuan Thang, Chairman of the Central Theory Council and Director General of the Ho Chi Minh National Academy of Politics, highlighted the significance of the workshop, saying that it aims to create theoretical and practical foundations to prepare for the 13th national Party Congress, which is scheduled to be held in the first quarter of 2021.–VNA