“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 […]
“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 […]
“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 […]
HCMC - Green Transition: Hub (GT: Hub), a platform streamlining the adoption of sustainable practices in Vietnamese businesses, will be launched this month, offering...
The October 17 Danang City visit by five Gulfstream jets with high-profile passengers onboard has drawn attention and shown the city’s potential for luxury...
To ensure sustainable development, Vietnam will need to strike a delicate balance between attracting foreign investment and fostering domestic capability.
Vietnam’s economy expanded at an...
Editor’s Note: Thai Doan Hoang Cau has a doctorate in economic behavior in electricity markets and over 25 years’ experience in researching and working...
In an exclusive interview with The Saigon Times, Dominik Meichle, chairman of the European Chamber of Commerce (EuroCham) in Vietnam, emphasized the importance of...
Sustainable development is emerging as an undeniable trend within the finance and banking sector. Beyond traditional economic and capital safety considerations, financial and banking...
Last week, the social enterprise, Dear Our Community (DOC), launched its “Sustainability Incubator with Youth” program to leverage corporate capabilities in unlocking the potential...