Southeast Asia Information Port (www.dnyxxg.com) – After 40 years of reform and development, Vietnam's private sector has been identified by the Communist Party of Vietnam as one of the most important drivers of the national economy and a pioneer in developing science and technology. It has become a major force in promoting economic growth, creating jobs, contributing to fiscal revenue, and fostering innovation.
Data from the Statistics Department of the Ministry of Finance shows that Vietnam's private sector currently contributes approximately 42.3% of GDP, accounting for over 85% of all operating enterprises nationwide. It is the most active economic sector, providing jobs for over 45% of the total employed population and 83.7% of the informal workforce. Some enterprises have already entered the international market, helping to enhance Vietnam's international standing.
Industry experts point out that while Resolution No. 68 of the Politburo of the Communist Party of Vietnam established the strategic position of the private sector in the new era, its development still has shortcomings: the target of 1.5 million enterprises by 2025 has only reached nearly 1 million, and the number of enterprises per 1,000 people is lower than in some other countries in the region; most enterprises are small in scale, with limited financial and management capabilities, and their technological innovation and competitiveness need improvement; some support policies are still not fully implemented.
To promote the development of the private sector, the Vietnamese Party and State have introduced a number of policies to address bottlenecks in the system, mechanisms, and credit. Among these, Resolution No. 68, issued in May 2025, clearly states that by 2030, Vietnam aims to have 2 million operating enterprises nationwide, 20 enterprises per 1,000 people, and at least 20 large enterprises participating in global value chains. In the future, Vietnamese private enterprises and entrepreneurs will need to intensify their efforts to fully realize their core role. (End)
