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.
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.
The Vietnam Institute for Development Strategies, the Ministry of Planning and Investment, and Konrad-Adenaeur-Stiftung Vietnam (KAS) on August 31 held a workshop on the assessment of the top 500 Vietnamese private enterprises (VPE500) in the 2021-2022 period when Vietnam’s economy was hit by the COVID-19 pandemic.
The private business sector has been an important driving force of the economy and is expected to raise GDP contribution to 55% by 2025, a top economist told the second Private Economic Forum 2023 in Hanoi on April 2.
Domestic private enterprises in the southern province of Dong Nai earned nearly 5.8 billion USD from export activities in 2022, a record so far, according to the provincial Department of Industry and Trade.
Deputy Prime Minister Le Minh Khai has signed a decision approving a programme to support private enterprises in sustainable business development in the 2022-2025 period.
The number of newly established private enterprises in Vietnam has increased steadily every year, from 70,900 in the 2015-2020 period to 112,500 in the 2015-2020. Not only quantity, capital scale and capacity of private enterprises have also improved.
The 2021 list of the 500 fastest-growing companies in Vietnam (FAST500) was released by the Vietnam Report JSC and the VietNamNet e-newspaper on March 10.
The Vietnamese Ministry of Industry and Trade is actively implementing a lot of supporting industry development programmes, given the great importance of supporting industries.
An online forum entitled "From survival to prosperity: Stay firm to overcome crisis" was held on August 20 to discuss measures to combat the "COVID-19 storm”.
Many private enterprises said they want to invest in building renewable energy infrastructure, but Vietnam still lacks mechanisms to encourage private enterprises to participate in this activity.
Barriers in the business environment must be removed to promote the development of private enterprises, which is considered a push for post-pandemic economic growth, experts said.
