Private economy is an indispensable component in economic development.

The private economy is identified as a highly developed stage of the commodity economy. No country has succeeded in developing a market economy without a private economic sector. The private economy is a driving force to promote the development of commodity production in the market economy.

Proactive and creative in production and business

With the strong development of economic sectors and economic sectors, our Party and State have continuously researched and proposed policies to perfect development support policies, including policies for the development of the private economic sector. This opens up great opportunities for the private economic sector to continuously develop and contribute to the overall development of the country's economy. The Resolution of the 5th Central Executive Committee (9th tenure), the Political Report of the 10th National Congress and Resolution No. 14 of the 11th tenure of the Party have affirmed: "Developing economic sectors, including the private economy, in accordance with the law is an important component of the economy". At the 13th National Congress of the Party, the 13th Congress Document continued to affirm the strong development of the private economic sector in terms of quantity, quality, efficiency, and sustainability, "Really becoming an important driving force in economic development. Eliminate all barriers and prejudices, create all favorable conditions for the development of the private economy". This is a major and consistent policy of the Party, both promoting the continued development of the private economy and promoting the role of this economic sector in socio-economic development, strengthening national security and defense in the new situation. Affirming the important role and driving force of the private economic sector in international integration. The private economy has made an important contribution to mobilizing social resources, shifting economic structure, creating jobs, increasing income for workers, especially in the fields of investment, tourism business, urban areas, high-tech agriculture, trade and services... Implementing resolutions on private economic development in the province, in recent years, although the economy of the whole country in general and Binh Thuan province in particular has encountered many difficulties due to the Covid-19 pandemic and the global economic recession, economic sectors in Binh Thuan province are also affected by these factors. However, with its own advantages, the private economic sector in the province has been proactive and has many creative measures in production, business, and close-to-market sales, so it has still created strong development steps, creating jobs for thousands of workers, contributing to solving socio-economic problems and making great contributions to the development of the province.

Strong resources from tourism (documentary photo)

One of the areas with the strongest private resources in the province is tourism investment. Up to now, the province has more than 380 tourism projects approved for investment that are still in effect with a total registered investment capital of about 70,220 billion VND, including 22 foreign investment projects with a total capital of more than 11,230 billion VND. In addition, accommodation facilities are mainly invested from private economic resources.

To the efforts from businesses

The province's goal is always to develop a healthy, effective, sustainable private economy, truly becoming an important driving force of the socialist-oriented market economy, contributing to the rapid and sustainable socio-economic development of the province, constantly improving people's lives, implementing social progress and equity, ensuring national defense and security. Strive to have about 8,000 enterprises by 2025 and about 11,000 enterprises in operation by 2030. The contribution rate of the private economic sector (including individual businesses) to GRDP by 2025 is about 60%, by 2030 is about 65%. Labor productivity increases by 5%/year.

Business efforts contribute to the overall achievements of development (documentary photo)

Narrowing the gap in technology level, human resource quality and competitiveness of enterprises in the province with enterprises nationwide. Whether or not this goal is achieved requires enterprises to make efforts to overcome difficulties and challenges, in addition, private enterprises must also receive increased support from business associations and localities in supporting private enterprises to develop effectively and sustainably. The Provincial People's Committee regularly organizes thematic dialogue conferences, through which it disseminates the Party's guidelines, policies and laws of the State and the province to the private business community. Functional sectors actively grasp the situation, synthesize difficulties and problems of member enterprises to make recommendations to departments, branches, the Provincial Party Committee, the Provincial People's Council, the Provincial People's Committee and central ministries and branches on administrative procedure reform, programs to improve the investment and business environment for enterprises, preferential policies on tax, land, enhancing provincial competitiveness and enterprise development planning. In addition, enterprises organize associations, gather private sector enterprises to support each other in production as well as competitiveness in the market. Actively seek resources, build and implement plans, programs, and projects to support private sector enterprises to develop...

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