Private sector vital to fuel economy: PM

The private sector is an important driver of economic development, said Prime Minister Nguyen Xuan Phuc at the second Vietnam Private Sector Forum held in Hanoi on July 31.

At the second Vietnam Private Sector Forum (Photo: VNA)

At the second Vietnam Private Sector Forum (Photo: VNA)

The event was organised by the Vietnam Young Entrepreneurs' Association and the Mekong Business Initiative.

The PM said the Government is well aware of the role of the private sector, which was highlighted under the 12th Party Central Committee’s fifth meeting Resolution.

He suggested removing all barriers while creating the best conditions for the private sector to develop.

Government conferences and dialogues have spent plenty of time on matters the private sector encounters, he noted.

The Government has also accompanied businesses and pushed ahead with institutional reform to improve the business environment and facilitate business operation, he said.

The PM affirmed that the key to economic growth lies in the private sector, reiterating the Government’s aim to enable the sector.

He encouraged the business community to raise their voice and help the Government boost the economy.

He cited a representative of the World Bank as saying “Vietnam has a bright future thanks to the private sector and people.”

Chairman and CEO of the technology company FPT Corporation Truong Gia Binh said if all favourable conditions are carried out for private enterprises according to the Government’s policies, the private sector’s growth will reach from 15 percent to 50 percent in the future.

A survey launched before the forum opened indicates that 65 percent of businesses questioned expressed their hope for a government of action.

The main topics under discussion included an action programme for the private sector, digital economy, agriculture and tourism.


Other news

Most view


VNPT & SeABank cooperate to enhance connections

The Vietnam Posts and Telecommunications Group (VNPT) and SeABank just co-signed cooperation agreement, aiming to develop the two sides’ economic, business and investment potential.


Vocarimex plans to expand export markets

The Vietnam Vegetable Oil Industry Corporation -Vocarimex (code: VOC) has set its target the 2018 revenue will reach VND 4,8trillion, an increasing of 9 percent compared to 2017 and pre-tax profit target will be VND 300 billlion ($ 13 million), dividend payment ratio at 12 percent.


Self - introduction

VNPT targets to be leading digital service provider in Vietnam

The grand opening ceremony of the VNPT-Information Technology Company (VNPT-IT), a new member of the Vietnam Posts and Telecommunications Group (VNPT), was held yesterday in Hanoi. With thousands of IT engineers and the focus on developing state-of-the-art technological products related to Artificial Intelligence (AI), Bigdata, and Blockchain, the new company is considered the main force to help VNPT fulfill the goal of becoming a leading digital service provider in Vietnam and an important Digital Hub of the neighborhood as well as the world.

Stock market

BLF & LUT fined VND 145mln

The State Securities Commission of Vietnam (SSC) has just issued administrative fines worth VND 145 million to Bac Lieu Seafood Corp (BLF) and Luong Tai Investment & Construction Corp (LUT).