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)
Hanoi (VNA) – The private sector is animportant driver of economic development, said Prime Minister Nguyen Xuan Phucat the second Vietnam Private Sector Forum held in Hanoi on July 31.
The event was organised by the Vietnam YoungEntrepreneurs' Association and the Mekong Business Initiative.
The PM said the Government is well aware of therole of the private sector, which was highlighted under the 12th PartyCentral Committee’s fifth meeting Resolution.
He suggested removing all barriers whilecreating the best conditions for the private sector to develop.
Government conferences and dialogues have spentplenty of time on matters the private sector encounters, he noted.
The Government has also accompanied businessesand pushed ahead with institutional reform to improve the business environmentand facilitate business operation, he said.
The PM affirmed that the key to economic growthlies in the private sector, reiterating the Government’s aim to enable thesector.
He encouraged the business community to raisetheir voice and help the Government boost the economy.
He cited a representative of the World Bank assaying “Vietnam has a bright future thanks to the private sector and people.”
Chairman and CEO of the technology company FPTCorporation Truong Gia Binh said if all favourable conditions are carried outfor private enterprises according to the Government’s policies, the privatesector’s growth will reach from 15 percent to 50 percent in the future.
A survey launched before theforum opened indicates that 65 percent of businesses questioned expressed theirhope for a government of action.
The main topics under discussion included anaction programme for the private sector, digital economy, agriculture andtourism.-VNA
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The Ministry of Planning and Investment held the 2017 Vietnam Business Development Forum in Hanoi on June 22 to discuss how to develop the private economic sector robustly.
A national conference for Party officials to study the three resolutions related to the economy adopted at the fifth plenum of the 12th Party Central Committee was opened in Hanoi on June 29.
The second working day of the third meeting of the APEC Business Advisory Council (ABAC III) on July 25 focused on finance and business development in the era of innovation and digitalisation.
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This year’s event attracted more than 350 entries from cities and provinces across the country, reflecting growing interest in and commitment to the Fourth Industrial Revolution.
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PwC Vietnam forecasts a vibrant M&A market in Vietnam’s healthcare sector in 2025, driven by rising demand for high-quality medical services and a growing middle class. Pharmaceutical companies, private hospitals, and specialised medical facilities, particularly in ophthalmology and oncology, are predicted to be key targets for M&A.
The central province of Quang Nam is set to become a hub for the medicinal plant industry, with Ngoc Linh ginseng designated as the core crop, under the Prime Minister's decision issued earlier this year.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
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A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
At the second Vietnam Private Sector Forum (Photo: VNA)
