28.9 C
Ho Chi Minh City
Saturday, May 31, 2025

spot_img

TAG

SMEs

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.

HCMC credit continues expanding in January

HCMC - Credit totaled VND3,940 trillion in HCMC in January, up a mere 0.04% against the end of 2024 but a staggering 12.43% year-on-year,...

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...

A rough ESG ride

Adopting ESG (environmental, social, and governance) practices is a long-term commitment, but small and medium-sized enterprises (SMEs) in Vietnam often face significant hurdles due...

Opportunities for SMEs

“Although the corporate bond market has shown signs of recovery, the pace might be slow. We need more synchronized solutions to boost this market...

PM urges businesses to lead innovation and growth

HCMC – Prime Minister Pham Minh Chinh has called on Vietnamese companies to lead the way in innovation and drive the country's progress towards...

HCMC assists SMEs with digital transformation

HCMC – The government of HCMC has unveiled a plan to assist small and medium-sized enterprises (SMEs) with digital transformation until 2025, aiming to...

Private sector’s polarization

The list of the top 100 private companies that contribute the most to Vietnam’s budget revenue, according to a recently published ranking, is unsurprising....

Vietnam, South Korea boost cooperation in SME sector

HCMC – Vietnam and South Korea are enhancing their cooperation in the small and medium-sized enterprise (SME) sector, aiming to create new opportunities for...

Softer tax for micro enterprises

To support micro and small enterprises in capital accumulation and business development, the Ministry of Finance has proposed a tax rate of 15-17% for...

Latest news

spot_img