The Ministry of Planning and Investment’s Agency for Enterprise Development (AED) and the US Agency for International Development (USAID) approved the Improving Private Sector Competitiveness (IPSC) project in the Mekong Delta province of An Giang on October 31.

Vietnamese businesses are facing three major challenges in green transition, namely capital, skilled workforce, and technical solutions, according to the Private Sector Development Research Board (Board IV), under the Prime Minister’s Advisory Council for Administrative Procedure Reform.

Corruption in basic public services like health care and education would seriously impact efforts in ensuring citizens' fundamental rights, heard a workshop, themed “Identification and prevention of corruption in public sector related to private sector – international experiences and recommendations for Vietnam” in Hanoi on December 26.

The engagement of the private sector in green and sustainable growth is crucial for Vietnam to complete its target of achieving net-zero emission and raising the green economy scale to US$300 billion in the total national GDP value in 2050, according to experts.

Vietnam will focus on developing its private sector to turn it into an important driving force for the socialist-oriented market economy, contributing to rapid and sustainable socio-economic development and improving the economy's self-reliance.

The private business sector has been an important driving force of the economy and is expected to raise GDP contribution to 55% by 2025, a top economist told the second Private Economic Forum 2023 in Hanoi on April 2.

The Government wants the private sector to be a main driver in the country’s development, with a target of establishing 1.5 million businesses by 2025.

Australian Ambassador to Vietnam Andrew Goledzinowski has affirmed that the northwestern region remains the focus of the expanded bilateral partnership between Australia and Vietnam, especially in terms of clean water, agriculture, transport infrastructure, women's economic empowerment, tourism and private sector development.

Vietnam’s Ministry of Planning and Investment (MPI) and the US Mission to Vietnam, through the US Agency for International Development (USAID), on November 22 announced a new initiative to spur private sector-driven sustainable and inclusive growth across Vietnam.

Green bonds are an innovative tool for businesses to mobilise financing from the private sector such as banks, financial institutions, and especially foreign capital.