To enable the private sector to accelerate

The private sector in Hai Phong city needs support and assistance in overcoming difficulties and obstacles to become a driving force for sustainable growth.

Báo Hải Phòng•04/06/2026

dong-tau-1-(1).jpg — Private businesses in the city are currently facing many difficulties in accessing land resources and capital.

Businesses are numerous but not yet strong.

According to the Department of Finance, as of the end of May 2026, there were 54,005 operating businesses in the city. However, small and medium-sized enterprises (SMEs) accounted for the majority. Hai Phong currently lacks large-scale private enterprises with a "city brand" capable of leading the supply chain.

Therefore, the contribution of the private sector has not met expectations. Specifically, in terms of employment in 2025, this sector will handle 49% of the workforce; in terms of domestic budget revenue, this sector will contribute 55% in 2025 and approximately 61.2% in the first quarter of 2026.

The city's private sector is facing numerous challenges. In the first five months of 2026, the city saw the establishment of 3,571 new businesses, a 34.2% increase compared to the same period last year; registered capital amounted to over 26,947 billion VND, a 7.33% decrease compared to the same period. Of particular concern is the fact that the number of businesses temporarily ceasing operations or registering for dissolution exceeded the number of newly established businesses, reaching 3,730.

Industrial production in the city increased by 14.56% in the first five months. — Participation of supporting businesses in the city in the supply chain of FDI enterprises faces many obstacles.

The biggest challenges facing the business community are concentrated in three pillars: capital, land, and administrative procedures. Access to capital for businesses has improved significantly. It is estimated that by the end of May 2026, outstanding loans to the private sector reached VND 522,013 billion, accounting for 96.94% of the total outstanding loans in the area, an increase of 4.82% compared to the end of 2025. However, more than 50% of small and medium-sized enterprises (SMEs) still find it difficult to access capital due to collateral requirements and lending standards.

According to Tran Van Thang, Chairman of the Hai Phong Business Association, the most pressing issue for small and medium-sized enterprises right now is increasing their access to capital and production space in industrial zones and clusters.

Policies related to taxation, training, and business registration still face obstacles. As a result, a large number of Hai Phong businesses are withdrawing from the market. The participation of supporting businesses in the supply chains of FDI enterprises remains limited.

Removing bottlenecks to facilitate the development of private enterprises.

Representatives from businesses in the city attended the conference. — Training and capacity-building activities for small and medium-sized enterprises need to be conducted in a practical and effective manner.

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Nghe An still has nearly 90 long-standing projects facing obstacles.The handling process is carried out according to the principle of clarity regarding personnel, tasks, deadlines, responsibilities, outcomes, and authority; resolutely refusing to legitimize violations and preventing new violations from occurring.

Chairman of the Hai Phong Business Association, Tran Van Thang, believes that for Resolution 68 to truly become a "launching pad" for the private economy, including small and medium-sized enterprises, the city needs to accelerate improvements in the investment and business environment and reduce administrative procedures in a substantive manner.

First, the city needs to investigate and assess the "health" of businesses in order to categorize them and provide specific, practical support to help them thrive.

According to the Department of Industry and Trade, to promote and support business development, the department is focusing on building a mechanism for businesses to progress together and a plan to develop large enterprises to participate in global value chains. Accordingly, this June, the Department of Industry and Trade, in coordination with relevant departments and agencies, will draft the Local Go Global Program for the period 2026-2030 to be submitted to the City People's Committee.

Simultaneously, the plan involves building business linkages based on industry clusters, value chains, and supply chains, focusing on selecting leading enterprises in the city capable of leading domestic/global supply chains to participate in at least five industry linkages in key sectors: electronics - ICT - semiconductors; mechanics - automotive parts - smart manufacturing; logistics - seaports - supporting services; textiles - accessories - high-tech fashion ; food processing - seafood - exports.

Specifically, to increase the localization rate in priority sectors by 10-15% by 2030, the Department of Industry and Trade is working with large-scale FDI enterprises in Hai Phong to identify business needs in order to attract investment and support industry enterprises.

To address businesses' capital shortages and harmonize interests, credit institutions are considering shifting from lending based on collateral to assessing cash flow and viable business plans.

Regarding land access, the city has completed the digitization and synchronization of 100% of the data of more than 1.1 million land parcels into the national land database, along with the public disclosure of all land use plans and schemes on electronic portals, helping investors when seeking investment opportunities in production and business.

The Department of Finance has developed a training program for small and medium-sized enterprise (SME) leaders in the city by 2030 to train and develop 3,000 executives. The program focuses on training business leaders in the city's strong sectors such as: seaports, logistics, shipbuilding, industrial park infrastructure, electronics, semiconductors, and high-tech industries.

The target for the city by 2030 is to have 87,000 businesses. Therefore, in the next four years, the city needs approximately 33,000 new businesses, averaging over 8,000 new businesses established each year.

This is no easy task. According to the Business Performance Index (BPI) – an assessment of the efficiency of the private sector applied by the Vietnam Chamber of Commerce and Industry (VCCI) – factors related to a business's "survival" and profitability, such as revenue per employee, revenue growth, job growth, and profit margin, need to be emphasized. Businesses in Hai Phong not only need to be numerous but also healthy and contribute more to growth.

Targets by 2030:

+ Hai Phong aims to have over 87,000 businesses operating within the city.