Many businesses say state officials are not enthusiastic in solving enterprises’ problems and don’t even take applications to at least discover the enterprises’ problems.

In addition to using contributions from FIEs, it's now the time to develop the private sector quickly and sustainably, VCCI (Vietnam Confederation of Commerce and Industry) deputy secretary general Dau Anh Tuan has stated in an article on VietNamNet.

Although top 500 largest Vietnamese private enterprises (VPE500) represents a small part of the number of enterprises, it has greatly contributed to the operations of the private enterprise sector and the national economy, according to insiders.

Forbes Magazine recognized seven Vietnamese billionaires in it 2021 issue, which came as great news for the private sector. This news may now encourage other Vietnamese business people to look more towards development and new ideas.

How will Vietnam overcome challenges to realize its development plans? Nguyen Dinh Cung, former head of Central Institute for Economic Management (CIEM), shares his perspective with VietNamNet.

Many Vietnamese tycoons regret that the largest beer company in Vietnam, the Saigon Alcohol Beer and Beverage Joint Stock Corporation (Sabeco), has fallen into the hands of Thai investors.

The growth of domestic firms, especially private ones, is expected to cause a significant qualitative change in FDI and export attraction.

The private sector in Viet Nam should receive support to become a pillar of the local economy, said Nguyen Thi Nga, chairwoman of BRG Group.

With a surge of domestic private enterprises spurred on by a more business-friendly climate, the government is vehemently pushing up administrative reforms in favour of investors and businesses.

The State must play a key role in investing in the national railway infrastructure to boost development and attract more private investment, experts have said.

Vietnamese businesses are further participating in the global value chain and reaching out to the world market.

Economist Dr Dinh The Hien, president of the Institute of Information and Economic Research (IIB), talks to Kinh tế & Đô thị (Economic and Urban Affairs) newspaper on the support the private sector wants to receive from the Government.

 VietNamNet Bridge – Minister of Planning and Investment Nguyen Chi Dung talks to Vietnam News Agency on the Government’s resolve to help private enterprises become a mainstay in the national economy.

VietNamNet Bridge - The statistics on the number of private businesses released by state management agencies vary.

 VietNamNet Bridge – Ho Xuan Hung, chairman of the Viet Nam Confederation of Agriculture and Rural Development,

 VietNamNet Bridge – A lot of private enterprises in Vietnam are shoring up offshore investment activity, particularly in regional markets, to make the most of material sources and tap into opportunities presented by these growing markets.

VietNamNet Bridge – The Foreign Investment Agency has estimated the number of offshore projects to be licensed for local enterprises this year at around 150, and registered capital for fresh and operational projects at US$1.5-2 billion.

 VietNamNet Bridge – Vietnam is likely to come back to the growth model fueled by the State sector rather than private enterprises in the coming years if strong investments from the former continue.

VietNamNet Bridge – The private sector's role in scientific and technological developments is very low in Viet Nam, Ho Ngoc Luat, director of the Department for Science and Technology for Localities, tells Dat Viet (Viet Land)