The newly-issued Resolution No. 68-NQ/TW of the Politburo on the development of the private economic sector has garnered strong support from experts and the business community, being hailed as a potential turning point in Vietnam's economic situation.

VOV.VN - Private firms in Vietnam continue to face challenges in accessing development resources, prompting calls for more equitable policies across business sectors, according to industry insiders.

The Vietnam Institute for Development Strategies, the Ministry of Planning and Investment, and Konrad-Adenaeur-Stiftung Vietnam (KAS) on August 31 held a workshop on the assessment of the top 500 Vietnamese private enterprises (VPE500) in the 2021-2022 period when Vietnam’s economy was hit by the COVID-19 pandemic.

Many businesses say state officials are not enthusiastic in solving enterprises’ problems and don’t even take applications to at least discover the enterprises’ problems.

Domestic private enterprises in the southern province of Dong Nai earned nearly US$5.8 billion from export activities in 2022, a record so far, according to the provincial Department of Industry and Trade.

VOV.VN - Although top 500 largest Vietnamese private enterprises (VPE500) represent a small part of the number of local enterprises, they has greatly contributed to the operations of the private economic sector and the national economy, according to insiders.

The numbers of enterprises and employees working in the non-state and FDI sectors increased rapidly, but reduced markedly in the state-owned sector during 2016-2020, according to the General Statistics Office of Vietnam (GSO)’s freshly released 2021 economic census.

Although the 2020-2022 period was a tough time for both State-owned and private enterprises due to macro-economic fluctuations after the COVID-19 pandemic, it provided a good chance for businesses that managed to exist and make breakthrough growth, according to a report by Vietnam Report JSC.

Deputy Prime Minister Le Minh Khai has signed a decision approving a programme to support private enterprises in sustainable business development in the 2022-2025 period.

Private enterprises do not need money but institutional support to enjoy a stable and safe business environment, bringing them equality and respect.