Private enterprises need to compete equally.

On June 5, in Ho Chi Minh City, Nguoi Lao Dong Newspaper organized the second discussion session of the Vietnam Economic Forum 2025 with the theme: "Private economy: Removing barriers - Assigning responsibilities".

Associate Professor, Dr. Tran Dinh Thien speaks. Photo: Duy Phu

Identify barriers

At the forum, Associate Professor Dr. Tran Dinh Thien, member of the Prime Minister's Policy Advisory Council, emphasized that the capacity and competitiveness of the private economic sector are facing many difficulties and limitations. Specifically, domestic private enterprises only contribute about 10% of GDP, which is quite modest compared to the FDI sector, which contributes up to 22% of GDP. The reason is that about 95 - 96% of private enterprises are medium, small and micro enterprises, with limited potential.

Regarding large enterprises doing key transport infrastructure projects, Mr. Phan Huu Duy Quoc - Chairman of the Board of Directors of Construction Corporation No. 1 - JSC (CC1) affirmed that large corporations and enterprises doing infrastructure in the country currently do not have enough capacity to undertake projects with a scale of billions of USD, but need to cooperate with large foreign corporations. For example, the Long Thanh airport project is led by a corporation from Türkiye, in coordination with the participation of Vietnamese enterprises in the construction chain.

Chairman of the Board of Directors of Vietravel Group Nguyen Quoc Ky. Photo: M. Tuan

Regarding tourism businesses, Mr. Nguyen Quoc Ky, Chairman of the Board of Directors of Vietravel Group, pointed out that the lack of capital and difficulty in accessing financial resources makes businesses unable to expand their scale or invest in depth. Meanwhile, the management capacity of many businesses is still weak, not keeping up with the requirements of modernization.

On the other hand, the quality of labor has not met the requirements of expertise, skills and industrial style. The lack of investment in innovation makes products and services uncompetitive, unable to create a difference in the market,...

According to businesses, in some areas, businesses still feel the management mindset of "if you can't manage, ban" instead of creative thinking. This is the biggest obstacle that makes businesses continue to face difficulties in the development process.

Resolution 68 has "saved" the private economy.

Assessing the role of the resolutions, Dr. Tran Du Lich, former Director of the Ho Chi Minh City Institute of Economics, emphasized that Resolutions 68, 57, 59 and 66 are considered the "four pillars" that create a consistent strategic whole, opening up opportunities for the country to break through in the new era. To successfully implement them, it is necessary to carry out a revolution in the arrangement and reform of the state apparatus. In particular, Resolution 68 on private economic development has been identified as one of the most important driving forces of the economy.

Journalist To Dinh Tuan - Editor-in-Chief of Nguoi Lao Dong Newspaper speaking at the forum. Photo: Duy Phu

Sharing the same view, according to Associate Professor Dr. Tran Dinh Thien, not only Resolution 68, businesses need to synchronously apply other resolutions such as 57, 59 and 66, creating a comprehensive strategic framework, to ensure that new initiatives are strongly supported.

Regarding the direction, Mr. Phan Huu Duy Quoc stated that Vietnamese enterprises need to seek strong partners to learn from, thereby improving their capacity in human resources, finance and management. That is also a stepping stone to becoming a strong enterprise, with a long-term and sustainable development strategy.

"With the political determination from Resolution 68, I expect Vietnamese businesses to gradually grow stronger," Mr. Quoc stated his opinion.

BKAV Group General Director Nguyen Tu Quang. Photo: M. Tuan

From the perspective of a technology enterprise, Mr. Nguyen Tu Quang - General Director of BKAV Group believes that fair competition is the key factor for Vietnamese private enterprises to develop strongly.

"It is necessary to build a clear and transparent legal corridor, with mechanisms and policies that create a fair playing field for all businesses. Only then will Vietnamese businesses have the opportunity to break through and truly contribute to the country's development," Mr. Quang said.

According to the delegates attending the forum, it is necessary to eliminate overlapping and unreasonable business conditions. Supporting businesses should not only stop at loans but also expand to policies that ensure equal rights in production and business, creating conditions for businesses to develop stably and sustainably, contributing to the overall development of the economy.

Source: https://hanoimoi.vn/doanh-nghiep-tu-nhan-can-duoc-canh-tranh-binh-dang-704599.html