On the afternoon of March 24, Deputy Prime Minister Nguyen Chi Dung chaired a meeting on building the private economic development plan.

Currently, the private economic sector comprises over 940,000 businesses and more than 5 million household enterprises. This sector is a key driver of wealth creation and plays a crucial role in economic growth, job creation, income generation, innovation, poverty reduction, and social stability.

After nearly 40 years of implementing reform policies, the private economy has grown significantly in both quantity and quality, increasingly asserting its role in the national economy.

The private sector contributes approximately 51% of GDP, over 30% of total state budget revenue, more than 30% of total import-export turnover, nearly 60% of total social investment capital, and employs about 82% of the workforce.

Many private enterprises have made remarkable progress, not only dominating the domestic market but also establishing their brands internationally.

However, the private economy still faces numerous challenges and shortcomings, falling short of its potential as the most vital driver of the national economy.

Boosting private sector growth

Commenting on the plan and the Politburo’s resolution, Deputy Prime Minister Nguyen Chi Dung noted that the proposal adequately addresses the situation, role, and importance of the private economy. The drafting committee for the National Congress documents has consistently emphasized that "private economic development is the most important driver for economic growth."

However, the target of reaching 1 million enterprises remains unachieved, despite the 2025 goal being set at 1.5 million and the 2030 goal at 2 million enterprises. This shortfall is attributed to various factors, including difficulties in accessing land and capital.

Following a recent survey trip to China, the Deputy Prime Minister noted that the biggest challenge facing enterprises is their inability to access capital.

He urged ministries, agencies, and departments to invest effort, time, and intellectual resources, working closely with the Ministry of Finance to promptly complete the plan. The final version must adhere to the directives of the Politburo, the General Secretary, and the Prime Minister to ensure it serves as a breakthrough for the private economic sector. It should remove obstacles, generate motivation, instill confidence, and create a transparent and appealing environment that encourages private enterprises to thrive.

"People should feel confident to invest, enter the market, and conduct business efficiently. Even exiting the market should be transparent and straightforward, in line with the government's mission to facilitate market entry and effective business operations that contribute to the economy," the Deputy Prime Minister emphasized.

He reiterated that the resolution of the Politburo must be concise, clear, actionable, and revolutionary, with a high level of feasibility. Policies must be accurate, targeted, powerful, and implementable immediately to impact the private economic sector directly, fostering rapid development and achieving double-digit economic growth in the coming period.

When setting targets, he stressed the need for practical calculations and persuasive reasoning, taking into account real-world conditions and international experience.

"If we aim to travel 2 kilometers, we must set a goal of 3 kilometers. If the goal matches the destination, it will never be achieved. The goal should be higher than reality to create pressure and motivation to strive. The potential remains vast, the demands are high, and the ability exists - the challenge lies in how the state creates an environment where the private sector can operate efficiently, confidently, and boldly," he analyzed.

Tran Thuong