Many experts and businesses agree that, in fact, recently, the private economic sector has been "inferior" in accessing resources for business development.
Currently, the private economy has been playing an important role in Vietnam's economy, contributing about 40% of GDP and more than 30% of total state budget revenue (according to 2023 data).
However, most private enterprises are still small and medium-sized enterprises, facing many barriers in expanding their scale and improving their international competitiveness, lacking leading enterprises with great influence in the region and globally.
Mr. Le Tri Thong, General Director of Phu Nhuan Jewelry Joint Stock Company - PNJ said: "Regarding support policies to create a common ground in accessing resources such as capital, resources, locations... among the three components, the private economy is "inferior" to FDI and state-owned enterprises. Just being equal is enough to unleash resources for the private economy."
According to economic experts, there has been a significant change in the perception of the Vietnamese Party and State on the position and role of the private economy. In 2011, Vietnam identified the private economy as one of the driving forces of the economy; in 2017, it was identified as one of the important driving forces and in 2025, it is considered the most important driving force.
From there, both experts and businesses believe that along with that recognition and determination comes the removal of policies. Previously, the private economy was discriminated against because it was not placed in the right position and role. Now, all of that has changed, the most important thing is that the State creates an equal business environment, raising policies for private enterprises to the same level as other business sectors.
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