28.9 C
Ho Chi Minh City
Wednesday, July 2, 2025

spot_img

TAG

economic growth

The private sector needs restructuring

“The private sector should demonstrate its internal strengths to better support economic growth and drive the transition from a traditional growth model to a more sustainable and high-quality economy,” said Dr. Le Duy Binh, director of Economica Vietnam, in an interview with The Saigon Times. The main growth driver The Saigon Times: Vietnam has set ambitious economic targets, aiming for high and sustainable growth over the next several decades, driven by science, technology, and innovation. Many believe that for these goals to be met, the private sector—excluding foreign direct investment (FDI)—must serve as the economy’s main pillar and growth driver. What are your thoughts on this? Dr. Le Duy Binh: During the subsidy period, the private sector existed in various forms but remained largely in the shadows. It wasn’t until the start of the renovation period, and particularly after the introduction of the Enterprise Law, that the sector expanded rapidly, becoming a critical force in the economy. In terms of scale, the General Statistics Office reports that the domestic private sector contributes nearly 50% of GDP. Registered businesses account for over 10%, while household businesses, farms, and sole proprietor traders contribute around 10%. Additionally, this sector provides employment for about […]
To read more, please click here.

Credit-driven growth

It is undeniable that Vietnam’s economic growth is increasingly reliant on monetary policy, while the effectiveness and ripple effects of fiscal policy have yet...

NA passes 8% growth target

Legislators have approved an economic growth target of at least 8% for 2025, with the country’s gross domestic product (GDP) expected to exceed US$500...

Banking sector ramps up support for economic growth

HCMC – Vietnam's central bank has pledged to intensify efforts to boost economic growth by expanding credit and ensuring financial stability. The State Bank of...

Where does the money go?

Vietnam’s GDP expanded by an impressive 7.09% last year, one of the highest growth rates in recent years. Despite this economic growth, the stock...

Private sector plays vital role in Vietnam’s growth

HCMC – Vietnam’s private sector should expand by at least 11% per year if the country wants to attain double-digit economic growth, said Minister...

Standard Chartered: Growth prospects positive for Vietnam in 2025

HCMC – Vietnam’s economy is expected to grow by 6.7% this year, according to Standard Chartered’s latest macroeconomic update, falling short of the National...

Government sets GRDP growth target of at least 8% for provinces

HCMC – The Government issued a resolution on February 5, setting a target for all 63 provinces and cities to achieve a gross regional...

Will domestic demand rebound?

In 2024, economic growth reached 7.09%, a little bit higher than the 7% forecast by the prime minister at the National Assembly session in...

Latest news

spot_img