Editor’s Notes: There have been many requests for a groundbreaking resolution on policy to develop the private sector. Is another resolution on the private sector necessary? What kind of breakthrough policy is needed for private sector development? The Saigon Times presents discussions among experts on this issue, based on an overview of the current state of the private sector (non-state economy) and the position and role of private enterprises, which form a key component of the private sector. Vietnam has set a goal of developing the private sector into a key driver of its socialist-oriented market economy, with rapid and sustainable growth and high rates of expansion in terms of quantity, scale, quality, and its share of gross domestic product (GDP). The Statistical Yearbook classifies the economy into three sectors: the state sector, the non-state sector, and the foreign direct investment (FDI) sector. The non-state sector includes private enterprises, household businesses, and cooperatives. Data in Table 1 shows that the share of investment capital from the non-state sector has been the largest and has shown an increasing trend from 2010 to 2023, while investment from the state and FDI sectors has declined. The data also indicates that the average growth […]
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