By the end of April 2025, the province had more than 17,000 registered enterprises, of which private enterprises accounted for more than 90%. In the first 4 months of 2025 alone, the province had 547 newly registered enterprises, with a total registered capital of VND 3,378 billion. Notably, the rate of newly registered enterprises online reached 100%, demonstrating a clear improvement in administrative reform, contributing to creating a transparent investment and business environment.
In order to promote innovation in enterprises, the province has built a favorable investment environment for the private economic sector; organized dialogues, promptly removed difficulties and obstacles for enterprises; implemented many practical support programs such as supporting enterprises in digital transformation, organizing training courses on business administration, technology application, supporting scientific research, technology, and innovation activities in enterprises.
Consulting and support activities for startups; establishment of creative startup clubs are encouraged to develop, especially at universities and colleges in the province.
Many businesses have also proactively connected with foreign direct investment (FDI) enterprises, aiming to participate in the global supply chain. At the Techfest Vinh Phuc event at the end of December 2024, Toyota Vietnam Automobile Company signed a Memorandum of Understanding to support businesses in the automotive support industry, contributing to promoting the province's economic growth. Samsung Group also supports Accuracy Joint Stock Company in building a smart factory.
According to the Provincial Statistics Office, in the period of 2017 - 2023, the contribution to the State budget of the private economic sector has grown significantly, from VND 1,190 billion (accounting for 3.96% in 2017) to VND 1,700 billion (accounting for 5.62% in 2023). In terms of human resources, the number of workers in this sector also tends to increase steadily, from 190,850 people (in 2017) to nearly 220,000 people (in 2023), an average increase of nearly 4,000 workers per year.
Responding to the Government 's policy of localizing auto and motorbike spare parts and developing supporting industries, Accuracy Joint Stock Company was established with 100% domestic capital. The company is committed to providing high quality products at reasonable prices, effectively serving both the domestic market and international partners.
To increase competitiveness and export orientation, the company has invested in modern production lines from Japan and Taiwan (China); at the same time, it focuses on training high-quality human resources.
After more than 2 years of building a smart factory (2022 - 2023), Accuracy has been trained by experts from Samsung Electronics Vietnam Co., Ltd. and the Ministry of Industry and Trade in production management, strategic planning and business management.
Currently, the company has improved its machinery system, increased labor productivity, and maintained effective quality management systems such as 5S and 3D. Thereby, the company not only increases product quality and productivity but also minimizes risks, waste, and inventory, thereby enhancing competitiveness and expanding the market.
In order for the private economic sector to truly become an important driving force of the economy in the new era, the province continues to research and issue specific policies suitable to local realities; simplify processes, shorten processing time for business registration dossiers and procedures related to investment, land, and construction; invest in infrastructure development to connect areas in the province with neighboring localities; develop market information systems, and support e-commerce.
At the same time, businesses need to proactively innovate management thinking, apply modern technology, strengthen links and cooperation with domestic and foreign partners; develop high-quality human resources, have many policies to treat employees, thereby creating products and services with high added value, better meeting domestic and foreign market needs.
Nguyen Huong
Source: http://baovinhphuc.com.vn/Multimedia/Images/Id/129229/Dong-luc-doi-moi-sang-tao-cho-doanh-nghiep-phat-trien
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