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Khanh Hoa aims to have 30,000 private businesses by 2025

Authorities in the south central province of Khanh Hoa plan to improve the quality and performance of businesses in the private sector, striving to have 30,000 businesses by 2025 and 35,000 by 2030.
Khanh Hoa aims to have 30,000 private businesses by 2025 ảnh 1Illustrative image (Photo: VNA)
Hanoi (VNS/VNA) - Authorities in the south central province of Khanh Hoa plan to improve the quality and performance of businesses in the privatesector, striving to have 30,000 businesses by 2025 and 35,000 by 2030.

The provincial People's Committee issued a plan to implement the Prime Minister's Decision,dated 11 October last year, approving a sustainable development plan forprivate enterprises by 2025, with a vision to 2030.

It also targets the total balanced budgetrevenue from the private sector to be around 39 percent by 2025, and 44 percentby 2030.

The province targets its private economy tocontribute about 97 percent to provincial export turnover by 2025 and about 98 percentby 2030.

To achieve the aforementioned goals, theprovincial people's committee sets out six major task groups and solutions.

Particularly, the province will continue topromote the improvement of the business investment environment to ensure themaintenance of trust and enhance sustainable business investment of privatesector businesses; at the same time, encouraging businesses to applysustainable business models and cleaner production technology, efficient use ofnatural resources and environmental protection.

The province will also promote creativestart-ups and effective implementation of policies to support small andmedium-sized businesses.

It will help to improve labour productivityin enterprises, develop high quality human resources and improve management andcorporate governance capabilities.

Especially, the province will encourage theprivate enterprises to apply science and technology, exploiting theopportunities of the fourth industrial revolution.

Finally, it will strengthen the role ofbusiness associations in supporting private sector businesses to developeffectively and sustainably.

Last year, there were nearly 1,900newly-established enterprises in the province, with a total registered capitalof 17.58 trillion VND (757.8 million USD), down by 1.12 percent and 8.85 percentover the same period last year, respectively.

In addition, 447 enterprises returned tooperation, a year-on-year increase of 42.8 percent, bringing the total numberof currently operating enterprises in 2019 to 2,305, up 5.16 percent.

Three hundred and one enterprises dissolvedlast year, a year-on-year decrease of 33.8 percent. The number of enterprisestemporarily ceasing operations was 669, up 11.13 percent./.
VNA

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