Major private enterprises’ pioneering role in socio-economic development highlighted

The private sector currently plays an important role in the national economy, contributing nearly 45% to the country's GDP, and more than 40% of the total investment capital. In addition, it also creates jobs for 85% of the country's workforce; accounting for 35% of total import turnover and 25% of total export turnover. Many corporations have since reached out beyond the nation and have asserted their presence as respectable businesses both regionally and globally.

The conference aims to exchange views with private enterprises on ways in which to timely remove difficulties and obstacles in production and business activities of large-scale private enterprises, while seeking researching and proposing mechanisms and policies aimed at promoting the strengths of big private enterprises in the wider sustainable and powerful socio-economic development of the nation.

In his speech, the cabinet leader emphasized that the Party and State of Vietnam identify private economic development as both an urgent and regular task in the process of fine-tuning the socialist-oriented market economic institution; considering the private economic sector as an important method to liberate labour and production, as well as to mobilize, allocate, and effectively use all resources for the purpose of national development.

The conference with large private enterprises affirms the interest and expectations of the Government and cabinet leaders for the pioneering, breakthrough, and leadership capabilities of these enterprises in particular, along with the strong and sustainable development of the private economic sector in general.

PM Chinh said he hopes that the conference will receive enthusiastic, responsible, and constructive contributions from participants as they come together to advise the Government and the Prime Minister on policies to unlock resources, create breakthroughs, and to enhance the role of large private enterprises with the motto of harmonious benefits and shared risks.

At the conference, delegates focused on discussing a number of basic issues, including identifying and specifically evaluating the position and role of large-scale private enterprises in implementing the goals, tasks, and solutions stated in Resolution No. 01 towards fulfilling the five-year socio-economic development plan for the 2021 to 2025 period and the 10-year socio-economic development strategy from 2021 to 2030. This is in addition to clearly defining the participation and tasks of large private enterprises in the economic development process.

The participation of large private enterprises in big, difficult, and breakthrough tasks is  to create momentum for the purpose of socio-economic development, especially in new fields, thereby catching up with the trend of science and technology and innovation, green development trends, the circular economy, sustainability such as electric cars, the semiconductor industry, artificial intelligence (AI), higher general artificial intelligence (AGI), and high-quality and low-emission agriculture, the Government leader said.

From identifying the leading role in the private economic sector, large private enterprises have shared goals and tasks to promote the efficiency of production, business, and investment development for this year and beyond. Delegates also raised difficulties and put forward recommendations and proposals of their businesses regarding the State's policies and the implementation of social responsibilities of firms, especially while people are trying to overcome the severe damage and consequences caused by storms and floods.