The conference was hosted by the Communist Party of Vietnam Central Committee (CPVCC) Secretariat and co-chaired by Politburo member and permanent member of the Secretariat Truong Tan Sang, Politburo member and Deputy Prime Minister Nguyen Sinh Hung and CPVCC member and Head of the CPVCC Office Ngo Van Du.

350 delegates from centrally-run ministries, sectors, agencies, cities and provinces, and outstanding private enterprises attended the event.

Opening the conference, Mr Sang said the fifth meeting of the CPVCC, ninth tenure, adopted a resolution on the continued renewal of mechanisms and policies encouraging and creating favourable conditions for the development of the private economic sector in order to implement the Resolution of the ninth National Party Congress. He stressed that this conference is aimed at enhancing leadership, information and awareness and creating a high degree of consensus among the entire Party and people as well as sectors and government at all levels about the Party and State’s consistent policy on developing the private economy.

Mr Sang also urged the participants to make suggestions to help the private economic sector overcome its shortcomings and weaknesses to develop strongly on a par with the nation’s potential.

Deputy PM Hung emphasised the role and directions for the development of the private economy in the years to come. He asked the delegates to discuss and put forward solutions to continue renewing, encouraging and creating favourable conditions for the development of the private economic sector, thus turning it into an impetus for the durable and sustainable growth of the whole country.

Over the past eight years, a wide range of policies and regulations have been issued, creating a legal framework and a good environment for the private economy to develop. However, the reform of mechanisms and policies exclusively designed for the private sector has still seen restrictions as a number of regulations are far removed from the current reality.