This article raises two essential questions: “Where is the private sector in Vietnam’s national economic development picture?” and “What conditions are necessary for a real breakthrough in the private sector?” Once seen as vague and unofficial in the early days of Vietnam’s Doi Moi (renovation) period, the private sector has made a remarkable transition—from the margins to the mainstream. Over four decades, statistics have reinforced a clear reality: the private sector now stands as one of the key pillars of economic growth, generating not only direct value but also positive spillover effects across the broader economy. In this context, dismantling structural barriers and broadening the development space for the private sector is no longer optional; it has become a strategic imperative. Structure and scale of the private sector According to Resolution 68 of the Politburo, Vietnam’s private sector currently has fewer than one million active businesses, including private enterprises, business households, and cooperatives. As for statistical terms of the General Statistics Office, the private sector is often represented by the ‘non-State economy’ classification. From 2010 to 2023, the non-State sector consistently contributed between 49.7% and 50.4% of Vietnam’s GDP, reflecting a relatively stable share over more than a decade. This […]

This article raises two essential questions: “Where is the private sector in Vietnam’s national economic development picture?” and “What conditions are necessary for a real breakthrough in the private sector?” Once seen as vague and unofficial in the early days of Vietnam’s Doi Moi (renovation) period, the private sector has made a remarkable transition—from the margins to the mainstream. Over four decades, statistics have reinforced a clear reality: the private sector now stands as one of the key pillars of economic growth, generating not only direct value but also positive spillover effects across the broader economy. In this context, dismantling structural barriers and broadening the development space for the private sector is no longer optional; it has become a strategic imperative. Structure and scale of the private sector According to Resolution 68 of the Politburo, Vietnam’s private sector currently has fewer than one million active businesses, including private enterprises, business households, and cooperatives. As for statistical terms of the General Statistics Office, the private sector is often represented by the ‘non-State economy’ classification. From 2010 to 2023, the non-State sector consistently contributed between 49.7% and 50.4% of Vietnam’s GDP, reflecting a relatively stable share over more than a decade. This […]