Efforts to develop private economy

(Baoquangngai.vn) - In recent years, the private economy (PE) in Quang Ngai has created jobs and increased income for people and contributed to promoting the province's economic and social development.

Private enterprises are growing stronger and stronger.

In recent years, many private companies and enterprises located in the province have boldly innovated technology, improved productivity, boosted production, business and exported products to international markets.

General Director of Quang Ngai Sugar Joint Stock Company Vo Thanh Dang said that the company has been in the sugar production and processing industry for over 50 years. With strategic orientation, systematic and scientific investment from raw material areas to processing, product quality control, and sales services, the company has expanded its business areas such as confectionery, mineral water, Dung Quat beer, etc., thereby increasing revenue and creating jobs for thousands of workers in and outside the province.

Product booth of Quang Ngai Sugar Joint Stock Company at the Laos - Vietnam Trade Fair 2024. Photo: TL

According to Mr. Dang, the company's products are not only consumed domestically but also exported to other countries, mostly Japan, Korea, and the US. In 2024, the company's revenue will reach more than 10.7 trillion VND, pay more than 1,000 billion VND to the state budget, and create jobs for about 5,000 workers.

As for Hoa Phat Dung Quat Steel Joint Stock Company, in 2017, it invested in the Hoa Phat Dung Quat Iron and Steel Complex project and is currently continuing to invest in the Hoa Phat Dung Quat 2 Iron and Steel Complex, with a total investment of more than 171 trillion VND. After 7 years of implementing the project, the company has contributed nearly 35 trillion VND to the state budget, creating jobs for about 17,000 direct workers, of which local workers account for more than 80% and thousands of workers of the company's contractors and partners; the average income of the company's employees is over 13 million VND/person/month. The company has implemented social security work worth about 150 billion VND.

Employees of Hoa Phat Dung Quat Steel Joint Stock Company check and prepare to export hot rolled steel coil products at Hoa Phat Dung Quat specialized port.

It is expected that by the end of 2025, when the Hoa Phat Dung Quat 2 Iron and Steel Complex project is completed, Hoa Phat's crude steel production capacity will reach about 12 million tons/year; creating more jobs for thousands of workers and contributing greatly to the provincial budget revenue.

In addition, VSIP Quang Ngai Industrial Park, Tinh Phong Industrial Park, Quang Phu Industrial Park, Dung Quat Economic Zone have attracted many domestic and foreign enterprises to invest and create jobs for tens of thousands of workers. According to statistics from the Planning and Business Department (Department of Finance), in the first quarter of 2025, the department received and processed more than 1,550 applications for business registration, with a registered capital of more than VND 942 billion. The whole province currently has about 6,688 private enterprises and tens of thousands of individual business households.

Promoting private economic development

Director of the Department of Finance Nguyen Van Trong said that in recent years, the province has focused on implementing Resolution No. 10-NQ/TW dated June 3, 2017 of the 12th Central Executive Committee on developing the private economy into an important driving force of the socialist-oriented market economy. Thanks to that, enterprises in the province have grown stronger in both quantity and quality.

Production and business activities of Happy Furniture Company Limited (Vietnam) at VSIP Quang Ngai Industrial Park. PHOTO: PD

The development of the private sector has also contributed to promoting economic restructuring, forming a number of new industries and high-quality services such as logistics, modern trade, tourism, and supporting industries. Some private enterprises have also actively invested in urban projects, housing, tourism - resorts, and transport infrastructure, contributing to creating a new look for many areas in the province.

However, the proportion of enterprises in the province with large production capacity, modern technology or capable of participating in the global value chain is still low. Some private enterprises have not yet formed production - consumption - technology linkages, so efficiency is not high.

According to Mr. Nguyen Van Trong, the province's goal for developing the private economy is to attract and facilitate 750 new enterprises each year, and by the end of 2030, the whole province will have at least 14,000 enterprises. To achieve this goal, the province will continue to improve the business environment and quickly resolve investment procedures. On the other hand, it will continue to support enterprises in innovation, provide online public services, improve digital capacity for enterprises, especially support enterprises in applying information technology and digital transformation.

The province will also recommend relevant ministries and sectors to pay attention to supporting and attracting projects related to high-tech industry in the province. At the same time, it will prioritize investment in essential infrastructure, especially transport infrastructure, and facilitate enterprises to access preferential loans; implement policies to reduce and exempt taxes for enterprises, creating motivation for private enterprises to develop.

Article and photos: A. NGUYET

Source: https://baoquangngai.vn/kinh-te/202504/no-luc-phat-trien-kinh-te-tu-nhan-c6006fd/