The key role of the private enterprise sector
During more than 40 years of innovation and integration, Ho Chi Minh City has always held the role of economic locomotive, being the largest financial - trade - service - science and technology center in Vietnam. With a contribution of nearly 23% to the country's GDP, more than 27% of national budget revenue and being the leading FDI attractor, Ho Chi Minh City not only affirms its role as an economic center but also shapes new development trends for Vietnam.
In the context of globalization and increasingly fierce international competition, Ho Chi Minh City's mission of becoming the center of Vietnam's private economic sector is a strategic breakthrough step. This is not only a simple economic goal but also shows the desire to reach new heights and enhance the city's international position.
Private enterprises are increasingly affirming their important role in the economic structure of Vietnam. According to data from the General Statistics Office, the private enterprise sector currently contributes about 42% of GDP and attracts more than 85% of the non-state workforce. Ho Chi Minh City is the "golden land" that gathers the largest number of private enterprises in the country, from large corporations to hundreds of thousands of small and medium enterprises (SMEs), technology startups, and e-commerce.
Ho Chi Minh City's determination to develop the private economic sector is not only to create growth momentum but also to promote the spirit of entrepreneurship, creativity and international integration. Private enterprises are the most dynamic force, ready to adapt quickly to market changes, have high competitiveness and play an important role in the country's industrialization and modernization process.
Mr. Dinh Hong Ky - Chairman of the Board of Directors of Secoin Joint Stock Company said that in the past 40 years, Vietnam's private economy has made a big change. The government's recognition as well as the society with the private economy has made a big change. According to the instructions in the article of General Secretary To Lam, the private economy has become a very important motivation, a leverage of development of Vietnam's economy, this is a very important step in the policy of the Party, Government and State.
The Government hopes to develop Vietnam's economy from 2025 onwards with double-digit growth. Therefore, there is a lot of room for private economic development. If there is momentum to develop from this space, the private economy will become a huge development lever for the country's economy.
Mr. Johnathan Hanh Nguyen - Chairman of Pacific Inter -Pacific Group - assessed: "Vietnam has begun to enter the development race, and I have been a companion for the past 40 years, have the opportunity to witness that difference. We can affirm that Vietnam is in a strong acceleration period, and I believe that in the next 20-30 years, the country will develop more and more for the future of the younger generation. At this stage, I only try to accomplish the goals and unfinished things in the next 5 years to continue contributing to the development of the country. "
A fulcrum for private enterprise development
Ho Chi Minh City has been implementing many important strategies such as the "Smart City" Project, the " international financial center" Project, developing the Eastern Creative Urban Area (Thu Duc City), ... All of which are aimed at improving competitiveness and strongly attracting private enterprises.
According to Mr. Nguyen Ngoc Hoa - Chairman of the Ho Chi Minh City Business Association, when making the biggest and most focused recommendations, the city's businesses will often revolve around many groups of issues. However, basically, it can be divided into three main key groups that businesses are particularly interested in.
The first is the group of input factors serving production and business activities. These are issues related to access to resources such as land, capital, credit, etc. Enterprises hope to make it easier to access these input factors, in order to facilitate business operations.
Second is the group of policies to create "bridges" - that is, create new markets and business opportunities for businesses. Currently, the State is boosting public investment and implementing many large infrastructure projects. This is a very important opportunity for private enterprises to participate in those projects, from road construction, infrastructure to other related fields. When the State creates a large "connector", private enterprises will have the opportunity to participate more deeply in the economy.
The third is a group related to the legal framework. The legal here includes both domestic and international. In the country, the Party and the State also have many specific guidelines, such as reducing 30% of procedures and papers to facilitate businesses to operate. However, in international legal, this is a big challenge for businesses, especially small and medium -sized enterprises. In the context that Vietnam is outdated, especially with key markets, the possibility of businesses will face international trade lawsuits is very high. Meanwhile, small and medium -sized enterprises are very difficult to have enough resources and legal capacity to monitor, handle or protect themselves in these complicated cases.
In addition, in solutions to facilitate the private economy, Ho Chi Minh City has increased investment in infrastructure. Associate Professor, Dr. Tran Hoang Ngan - National Assembly Delegate of Ho Chi Minh City said: "Enterprises need infrastructure, especially connecting transport infrastructure. In Ho Chi Minh City's plan from 2021-2025, each year of public investment is 50,000 billion VND and in 2025 alone is 100,000 billion VND. Plan 2026-2030, each year public investment from 120,000-150,000 billion VND. All of this shows that public investment resources are huge".
With strong internal strength, a spirit of continuous innovation and the desire to reach out, Ho Chi Minh City can completely realize this goal, putting Vietnamese private enterprises on par with international powers.
