PM holds policy dialogue with leading private firms

PM Phuc praised the production and business achievements of the participating firms, which he described as important contributions to the economy.

The dialogue is a chance for private enterprises to the businesses to talk about their difficulties and challenges. Photo: vneconomy.vn

The PM said he wants the businesses to frankly talk about their difficulties and challenges, stressing that the dialogue was a concrete action to implement the Resolution on the development of the private sector, which was adopted at the 12^th Party Central Committee’s fifth plenum.

The government leader highlighted the recent substantial progress achieved by the private sector, but also pointed to a lack of large-scale private companies. Most of Vietnamese private enterprises are of micro-, small- and medium-sized firms, he said.

PM Phuc affirmed that the Government will collect feedback from the companies to complete relevant policies, improve the business climate, and remove bottlenecks in order facilitate the private sector’s development.

According to the Business Development Department under the Ministry of Planning and Investment, the private economic sector contributes 43.22 percent to the country’s gross domestic product (GDP), accounts for 39 percent of the total social investment, and generates 11.9 percent of all jobs. Meanwhile, the State economic sector contributes 28.69 percent to the GDP.

At the dialogue. (Photo: vneconomy.vn) 

In 2016, the number of newly-established enterprises nationwide hit a new record with more than 110,000, up 16 percent annually. In the first nine months of 2017, an additional 94,000 firms were established with a combined registered capital of VND 900 trillion (USD 39.6 billion).

Source: VNA