Private economy - an important driving force of Lam Dong

The private economy in Lam Dong is constantly growing, gradually affirming its pivotal role and making important contributions to economic growth, job creation, and social security.

Changing Perception

According to statistics, the total number of private enterprises operating in Lam Dong province is over 23,800, with a total registered capital of hundreds of thousands of billions of VND. In recent years, the private economy in Lam Dong has grown steadily. From being a supporting economic sector, the private economy has become an indispensable pillar, contributing positively to GDP growth, job creation, promoting innovation, etc.

Lam Dong province currently has over 23,800 operating enterprises, with a total registered capital of hundreds of thousands of billions of VND.

However, in order to develop step by step, the private economic sector has had to overcome many prejudices in recent times. This has invisibly become a barrier to the development of this economic sector. One of the common prejudices is that private enterprises only care about profits, ignoring social or environmental responsibilities. Activities belonging to the private economic sector are small, fragmented, and unsustainable. Some private enterprises violate the law or are involved in negativity, making it easy for public opinion to have a one-sided view of this entire sector. In addition, many people also perceive that the State economy is the main one, the private sector is only supplementary...

In recent years, the private economy in Lam Dong is increasingly asserting its position.

To unleash and maximize the potential of this area, changes are needed from both policy, media and society. Private enterprises themselves must also improve their capacity, increase transparency, and demonstrate social responsibility to strengthen trust. Chairman of the former Dak Nong Business Association Nguyen Tri Ky emphasized that changes must come from each person's own awareness. In fact, many private enterprises today have dramatically changed their thinking, aiming for sustainable development. Many units invest in areas such as education, healthcare, clean energy, and regularly carry out charity programs. "Most small and medium-sized private enterprises in Dak Nong have affirmed their position. They are at the forefront of technological innovation and modern management. The strong development of the private sector is proving that "private" is no longer synonymous with "lack of stature", Mr. Ky emphasized.

Many private enterprises in Lam Dong increasingly demonstrate their role in society.

According to Ms. Nguyen Thi Minh Nguyet, Director of Hong Duc Company Limited, Nhan Co Commune, the idea that private enterprises are prone to negativity is incorrect. Negative phenomena are not specific to private enterprises but can occur in any sector if there is a lack of control. “Many private enterprises are pioneering the application of transparent standards in governance and financial disclosure. Enterprises themselves proactively comply with the law to develop sustainably and attract investment,” Ms. Nguyet affirmed.

According to the development plan for the 2025 - 2045 period, Lam Dong aims to have about 33,000 enterprises by 2030 and 78,000 enterprises by 2045.

Become the "leader"

The 10th and 11th Party Congresses identified the private economy as “one of the driving forces of the economy”. The 12th and 13th Party Congresses assessed the private economy as “an important driving force” of the economy. This economic sector is no longer a subsidiary sector, but a pillar that goes hand in hand with the State economy to promote national growth and development.

Many products and goods of Lam Dong enterprises are introduced to domestic and international partners through seminars.

According to Lam Dong Department of Finance, not only creating economic value, the private sector also contributes greatly to job creation and increasing income for workers. With tens of thousands of businesses in operation, the private economy is where the majority of the workforce is absorbed. From here, this economic sector has contributed to reducing pressure on the public sector and enhancing social security.

For example, in the old Dak Nong area, out of more than 4,800 enterprises operating in Dak Nong, 3,200 enterprises declare taxes. This group of enterprises has created jobs for about 35,000 workers. In the old Lam Dong, the number of enterprises operating is over 15,000 units. This group of enterprises has created jobs for hundreds of thousands of workers. Only from the period 2014-2025, the number of workers created jobs in the old Lam Dong is more than 248,000 people.

Many Lam Dong enterprises expand domestic and foreign markets to increase competitiveness.

Many private enterprises have also demonstrated increasing social responsibility through volunteer activities, supporting education, health and the environment, contributing to building a sustainable community. Many enterprises have become typical examples in the movement of gratitude, social charity, hunger eradication and poverty reduction... Up to now, some Lam Dong enterprises have accepted to support Vietnamese Heroic Mothers for life, regularly support wounded and sick soldiers in difficult circumstances, build schools, classrooms, welfare projects...

In the digital transformation era, private enterprises are the leading force in applying technology, developing new products and improving production processes. They are a strong source of innovation energy, playing an important role in improving labor productivity and the quality of economic growth.

The private sector contributes greatly to job creation and income improvement for workers.

According to the Department of Finance, in order for the private economy to truly become a driving force for economic development, there needs to be synchronous support policies. From reforming administrative procedures, improving the investment environment, increasing access to capital, land to technology and human resources must go hand in hand. Private enterprises themselves must also improve their competitiveness, transparency in governance and aim for sustainable development.

During nearly 40 years of renovation, the private economic sector has developed strongly, contributing greatly to GDP, creating jobs, promoting growth, innovation and international economic integration. The role of the private economic sector continues to be strongly affirmed in Resolution No. 68-NQ/TW dated May 4, 2025 of the Politburo, when for the first time "the private economy was identified as the most important driving force of the national economy". With the right orientation, appropriate support mechanisms, and efforts from the whole system, the private sector will continue to be the "leading bird" to bring Lam Dong's economy to develop strongly in the coming time.

Source: https://baolamdong.vn/kinh-te-tu-nhan-dong-luc-quan-trong-cua-lam-dong-382522.html