Breakthrough policies created to boost private sector

Vietnam’s economy is seeing positive growth signs, according to a government report presented at the ongoing session of the National Assembly.
breakthrough policies created to boost private sector hinh 0

Legislators proposed that the government implement breakthrough policies and create conditions to boost the private sector in order to ensure sustainable national growth.

A Party Resolution describes the private sector as an important driving force for national economic growth, thanks to substantial contributions to the GDP.

Eliminating barriers to boost private sector

According to a 2017 survey and business trust index conducted by the Private Economic Forum, enterprises are facing problems concerning licenses and startups. NA deputies say the government has pointed out issues to address in the near future. They called for more effective mechanisms to determine the role of leaders of ministries, sectors, and localities in addressing these problems.

Luu Binh Nhuong is a deputy for Ben Tre province: “The government needs to encourage the public and work with state agencies to check any abuses of power. The National Assembly should improve its oversight on the government and state apparatuses to limit difficulties and obstacles.”

Creating breakthrough mechanism

The private sector has contributed considerably to national development, the state budget, and job generation. Since 2010, it has contributed more than 43% of national GDP. With more open conditions, the private sector is expected to grow 15 to 50% a year, but it will need an equal access to resources. The Vietnamese government has pledged to eliminate all barriers and create favorable conditions to boost the private sector. 

Le Cong Nhuong, a deputy for Binh Dinh province, says it’s necessary to focus on logistics, human resource training, capital utilization, human resource training, and overseas Vietnamese participation in national economic development. 

“We need to create more breakthrough policies. The 6th Party plenum has a resolution on boosting the private sector. We need to pave the way for the sector to increase its contributions to GDP and generate jobs”, says Mr Nhuong. 

Tran Hoang Ngan, a deputy for Ho Chi Minh City, says it’s necessary to focus more on small and medium-sized enterprises and review the Law on SMEs and other legal documents on private sector because they affect to many enterprises. Ngan called for a strategy to increase the private sector’s competitive edge. 

“We hope the government will continue to help Vietnamese enterprises get involved in all sectors in order to ensure sustainability for the national economy", says Mr Ngan. 

The government is urged to take more action to make the private sector central to national economic growth.

VOV5

Other News

SBV raises short-term capital lending cap to 40%

SBV raises short-term capital lending cap to 40%

The new circular will help credit institutions have more room to provide capital to businesses and investment projects to support high economic growth in the next few years, while increasing flexibility in the SBV’s monetary policy management.

Business confidence in Vietnam rebounds strongly: UOB

Business confidence in Vietnam rebounds strongly: UOB

The study found that 85% of Vietnamese enterprises reported positive business sentiment, a sharp increase from 48% in 2025, when business confidence was weighed down by uncertainties surrounding US tariff policies and related trade developments.

Bac Ninh seeks high-quality foreign investment for sustainable growth

Bac Ninh seeks high-quality foreign investment for sustainable growth

According to Vice Chairman of the provincial People’s Committee Pham Van Thinh, the province aims to maintain stable and sustainable growth, improve the competitiveness of both the economy and local businesses, and make better use of free trade agreements (FTAs) to expand and diversify export markets.

Green building trend flourishes in Ho Chi Minh City's real estate landscape

Green building trend flourishes in Ho Chi Minh City's real estate landscape

The International Finance Corporation (IFC) highlighted the city's dominance in green-certified building floor space in Vietnam, reflecting the rapid expansion of the green building market with 780 completed green buildings encompassing over 18.69 million sq.m by 2025, predominantly certified by EDGE and LEED.

UK supports Vietnam in wind power and green finance development

UK supports Vietnam in wind power and green finance development

The United Kingdom officially announced two new climate cooperation initiatives to support Vietnam in its energy transition and green growth journey. These programs focus on offshore wind power development and the creation of a sustainable green financial ecosystem.

Ample room remains for Vietnam–India logistics cooperation

Ample room remains for Vietnam–India logistics cooperation

The GTTCI expert noted that alongside logistics and integrated warehousing, e-commerce is expected to be a particularly high-growth sector in the coming years. He described it as a multi-billion-dollar market with significant untapped opportunities for cooperation between Vietnam and India.

Exports gain momentum from high-tech growth drivers

Exports gain momentum from high-tech growth drivers

According to the Ministry of Industry and Trade, Vietnam’s exports reached 215.66 billion USD in the first five months of 2026, up 19.5% year-on-year. Twenty-six export items generated more than 1 billion USD in revenue each, including seven with turnover exceeding 10 billion USD.

Vietnam–China crossings see spike in ASEAN fresh produce

Vietnam–China crossings see spike in ASEAN fresh produce

Since the start of the summer harvest season, China's two major border gates with Vietnam, Youyi Guan in Pingxiang and Beilun 2 Bridge in Dongxing, have entered their peak period for handling imports of fresh agricultural and seafood products from member states of the Association of Southeast Asian Nations (ASEAN).

Cargo handling operations at Berths 3 and 4 of the Hai Phong International Gateway Port. (Photo: VNA)

AI reshapes logistics, raising bar for workforce skills

According to the Vietnam Logistics Business Association (VLA), the logistics sector will require around 2.2 million workers by 2030, including 1.6 million employees for logistics service providers and nearly 600,000 personnel supporting logistics operations in manufacturing and trading enterprises.

Robust dispute resolution framework key to Vietnam's IFC ambitions

Robust dispute resolution framework key to Vietnam's IFC ambitions

The development strategy for VIFC-HCMC envisions a comprehensive financial ecosystem encompassing green finance, carbon credits, financial technology (fintech), blockchain technology, digital assets, digital banking and other innovative business models. These highly internationalised sectors involve complex cross-border transactions and sophisticated legal structures.