Vietnam urges sustainable growth in private sector

According to the plan, the investment environment continues to be improved to maintain trust and enhance suitable investment and operation of the private sector. 

Private firms will be encouraged to apply advanced technologies and exploit opportunities brought about by the Fourth Industrial Revolution, while business associations will play a greater role in assisting private companies to develop in an efficient and sustainable manner, according to the plan.

Accordingly, at least 1.5 million enterprises will be operating by 2025 and the figure will rise to two million by 2030. 

In the 2021-2030 period, it is expected that private sector to see 6-8 percent expansion in the number of employees per year, while the average growth in income of labourers is expected to reach 25-30 percent per year.

The sector’s contribution to the State budget is also expected to increase 23-25 percent annually.