PM approves plan to boost sustainable growth of private sector
Prime Minister Nguyen Xuan Phuc has approved a plan to boost the sustainable development of the private business sector towards 2025 with a vision to 2030 with six major solutions.
Hanoi (VNA) – Prime Minister Nguyen Xuan Phuchas approved a plan to boost the sustainable development of the privatebusiness sector towards 2025 with a vision to 2030 with six major solutions.
The solutions include continuing to improve the investmentand business environment to ensure trust and promote the sustainable operationof private firms, encouraging businesses to apply sustainable models andcleaner production technology, and saving natural resources and protecting theenvironment.
The plan underlines the promotion of innovative startups andthe effective implementation of policies supporting small and medium sizedenterprises, as well as increasing the capacity of governing and businessmanagement boards.
Private firms will be encouraged to apply advancedtechnologies and exploit opportunities brought about by the Fourth IndustrialRevolution, while business associations will play a greater role in assistingprivate companies to develop in an efficient and sustainable manner, accordingto the plan.
The solutions are designed to increase the quality andefficiency of private businesses, creating a firm foundation and importantmotivation for national socio-economic development.
The plan targets at least 1.5 million firms by 2025 and 2million by 2030, as well as stronger connectivity among private firms.
In 2030, the gap in technology, human resources andcompetitiveness among businesses is expected to have reduced, while the ratioof firms joining regional and global production and value chains is hoped to matchthose in leading ASEAN countries (ASEAN 4).
The plan targets that in the 2021-2030 period, the privatesector will see 6-8 percent expansion in the number of employees per year,while the average growth in income of labourers is expected to reach 25-30percent per year. The sector’s contribution to the State budget is also hopedto increase 23-25 percent annually.
The PM asked ministries, sectors and localities to integratethe solutions into national target programmes to optimize resources.
The People’s Committees of provinces and cities were alsorequested to allocate human resources and an annual budget for theimplementation of the solutions./.
A conference was held in Hanoi on September 18 to discuss the enhancement of the role and initiatives of social organisations in caring for public health.
Minister and Chairman of the Government Office Mai Tien Dung on October 2 affirmed that Vietnam has achieved the highest gross domestic product growth in the past nine years.
The private economic sector invested over 26.8 billion USD in the economy during the nine-month period, accounting for 45.3% of the total social investment capital.
With the current trading band of +/- 5%, the ceiling rate applicable for commercial banks during the day is 26,276 VND/USD and the floor rate 23,774 VND/USD.
Effective from the date of signing on June 18, the decision halts procedures outlined in the 2005 Memorandum of Understanding (MoU) between the governments of Vietnam and Laos on the initial implementation of the Greater Mekong Subregion (GMS) Cross-Border Transport Facilitation Agreement at the Lao Bao–Densavan border gate.
The event aimed to update businesses on new regulations and compliance requirements regarding US tax, trade, and customs policies, while offering practical solutions to facilitate exports amid shifting trade dynamics.
The festival marks a significant milestone in promoting the brand, value, and legacy of traditional fish sauce - a product deeply rooted in the island’s identity and history spanning over 200 years.
According to Mastercard data, Vietnam has recorded a remarkable 92% compound annual growth rate (CAGR) in contactless transaction volume from Q4 2022 to Q4 2024.
Tuan expressed his confidence that LH, with its expertise and experience, would swiftly implement the urban area project, contributing to a modern urban landscape for the province.
With its strategic location, abundant workforce, and modern infrastructure, Vietnam holds significant potential to become a leading centre for power and electronics production in the region and the world.
The renewable energy workforce training and development centre, invested by Germany's GEO Group, is expected to be a cornerstone in shaping Binh Dinh as a renewable energy and innovation hub in central Vietnam, meeting the growing demand for skilled technical personnel in offshore wind, solar farms, and green hydrogen projects.
A notable trend is the shift toward satellite regions. With land scarcity and soaring prices in Ho Chi Minh City and Hanoi, investors are eyeing provinces like Hung Yen, Bac Ninh, and Hai Phong, which are benefiting from improved technical infrastructure and transport connectivity.
To further strengthen private-sector innovation, Bac Ninh plans to accelerate administrative reforms, build a digital, service-oriented government, and develop an integrated innovation ecosystem that connects businesses with domestic and international institutions, universities, and experts.
The participation of H&M, one of the world's largest fashion corporations, in Vietnam International Sourcing 2025 in Ho Chi Minh City in early September is considered a special highlight, opening up many cooperation opportunities for Vietnamese businesses in the fashion, textiles and sustainable supply chains.
This latest order builds on a previous agreement signed at the Singapore Airshow last year for 40 engines, bringing the total number of Trent 7000 engines ordered by the airline to 80.
Minister of Industry and Trade Nguyen Hong Dien acknowledged that despite concerted efforts by ministries and local authorities in combating fake and substandard goods, the situation remains highly complicated, attributing the persistent challenges to high profits luring numerous participants, increasingly sophisticated violations, limited resources within enforcement agencies.
The group also placed among the Top 5 energy companies in Southeast Asia and secured the top spot among the largest Vietnamese enterprises featured on the list.
The zone will cover 1,881 ha, comprising functional areas for production, logistics, trade and services, digital technology industry, information technology, and innovation.
Illustrative image (Source: VNA) 
