First is business households, with a huge number and flexibility in trade, services, and small-scale production. Although they are still afraid of complicated procedures, worrying about accounting or inspection costs, the reality shows that they have enduring vitality and the ability to adapt to the markets of each locality.
Meanwhile, private enterprises, although mostly small and micro, have contributed more than 40% to GDP, showing the available potential for breakthrough.
Linking two pieces of the collection of individual business households and private enterprises together is not only a combination to increase quantity but also an opportunity to improve quality.
With business households converting to expand scale, private enterprises innovating to integrate. This is a feasible path for the private economy to become a growth driver in the new era, from "existence" to "reaching far".
And the key to this linkage lies in synchronous policies. For business households, simplifying business establishment procedures through online one-stop gates, initial free start-ups... will eliminate the fear of administrative procedures.
At the same time, preferential credit policies, digital transformation support funds and greening will help private enterprises overcome limitations in capital and technology. For example, a small business household can become a business thanks to an easy process, then apply 4.0 technology to join the global supply chain.
This Domino effect not only increases quantity but also improves quality, turning barriers into a springboard for sustainable development.
Finally, the most important thing is still to arouse the entrepreneurial spirit to be internal motivation. So whether facing concerns about competition or lack of management capacity, both business households and private enterprises carry in themselves creativity and the will to adapt - typical of Vietnamese people.
Successful stories such as local pho stores reaching international standards or small businesses applying greening for export are living proof.
The government can arouse this spirit through active communication, business connection programs and incentives for those who dare to "do great things".
If nearly 5 million individual business households are considered potential "seeds", then nearly 1 million private enterprises in operation are the "big trees" that need to be fertilized.
When fear is replaced by faith, millions of "seeds" will sprout, thousands of "big trees" will certainly grow.
Timely removal of barriers and investment in the right direction, Vietnam will have a strong, multi-layered private economic ecosystem, capable of international competitiveness in the near future.
