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Vietnam’s Economy in 2024: A Brief Recap
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Tag: vietnam-private-sector-development
The Vietnam Private Sector category tracks the country’s shift toward a more dynamic, market-driven economy. It explores private enterprise growth, SOE reform, equitisation, SME development, capital market access, and investment climate improvements, helping businesses and investors understand the evolving business landscape.
Private sector development: Vietnam business leaders call for treatment equal to FDI firms
Private firms lack equal access to approvals, tax incentives, and administrative support compared to FDI projects, Nguyen Van Vinh, General Director of AMACCAO, has told Zing News. This is part of increasingly vocal calls for equal treatment between domestic and foreign firms among Vietnam’s business community.
Private sector development: Vietnam National Assembly approves support package for private sector
Vietnam’s National Assembly has passed a resolution with nearly 90 percent support to strengthen mechanisms for private economic development. Policies include land rent subsidies, interest rate support, tax exemptions, inspection limits, and legal protections for private enterprises, SMEs, and startups, Vietnam Biz has reported.
Private sector development: Vietnam government issues resolution aimed at private sector boost
Vietnam’s Politburo has released Resolution No. 68-NQ/TW, a directive that repositions the private sector as “the most important driving force” of its socialist-oriented market economy. It calls for sweeping reforms to remove systemic barriers and elevate the private economy’s share of GDP beyond 60 percent by 2045.
Vietnam’s Private Sector Development Push: Unpacked
Last week, Vietnam’s relatively new General Secretary, To Lam, announced that he wanted to see Vietnam’s private sector expand to 70 percent of GDP by 2030. This is not a new concept but it has historically been somewhat of a struggle to realise. With this in mind, this article looks at Vietnam’s private sector development, why it has failed to break out, and what might be different this time around.
Vietnam private sector uses HUBA workshop to call for equal treatment
Private business leaders voiced frustration over long standing inequalities in state policy, especially compared to state-owned enterprises, at a workshop hosted by the Ho Chi Minh City Business Association (HUBA), Friday. The leaders highlighted a need for institutional reform, transparency, and better access to land, finance, and international markets, VNExpress is reporting.
ADB to invest US$150 million in Vietnam’s private education sector
The Asian Development Bank (ADB) has announced its first private sector investment in Vietnam’s education sector, leading a US$150 million sustainability-linked loan to Vinschool. The loan will reportedly support new facilities for 20,400 students in Hanoi, Ho Chi Minh City, and Hung Yen, The Asset is reporting.
Vietnam GS outlines vision for economic develop through private enterprise
General Secretary of the Communist Party of Vietnam, To Lam, has penned a statement published in Vietnam’s official Government of Vietnam newspaper in which he outlines a private sector led development trajectory for Vietnam moving forward.
State Bank of Vietnam Deputy Governor raises concerns re: private debt to GDP
Deputy Governor of the State Bank of Vietnam Dao Minh Tu has raised concerns with respect to Vietnam’s private debt to GDP, currently about 135 percent, with a private lending growth target that if reached will see that figure hit 145 percent.
Private sector CEOs in Vietnam on almost double SOE counterparts
Notably, earlier this year the Prime Minister of Vietnam, Pham Minh Chinh, suggested SOEs should consider foreigners for executive positions. He went on to say that better remuneration packages and higher salaries would be key. This latest development adds some context to the Prime Minister’s remarks and suggests that improvement in remuneration would need to be sizable.
April 2025
Labour Market Report
Q1 2025
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