Private firms lack equal access to approvals, tax incentives, and administrative support compared to FDI projects, Nguyen Van Vinh, General Director of AMACCAO (a conglomerate with business in a number of industries including energy, industry, and construction), has told Zing News. This is part of increasingly vocal calls for equal treatment between domestic and foreign firms among Vietnam’s business community.
The article also notes that:
- A second business representative criticised a lingering “foreign is better” mindset that disadvantages local firms in regulatory decisions and investment procedures.
- Nguyen Viet Thang, General Director of Hoa Phat Group, welcomed the government’s new recognition of the private sector’s role but said more is needed: fair competition policies, protection for key industries, and clear long-term economic direction.
- According to the Vietnam Federation of Commerce and Industry (VCCI), stronger state agency involvement is needed to help private businesses overcome challenges and become a “lever for a prosperous Vietnam.”
This fits with the broader narrative around the government’s recently announced private sector development objectives. It also speaks to a level of animosity between local and FDI firms not often talked about but very much present in Vietnam.
See also: Vietnam’s Private Sector Development Push: Unpacked