(VOVWORLD) - Prime Minister Pham Minh Chinh has emphasized the need for administrative procedures to be as fast, simple, and low-cost as possible to facilitate the private sector.
 PM Pham Minh Chinh speaks at a Government meeting on promoting the private sector, Hanoi, May 7, 2025. |
Vietnam aims to have 2 million businesses by 2030, twice the current number, the PM said at a Government meeting on drafting a National Assembly resolution on special mechanisms and policies to promote private sector development.
“We must accelerate procedures for business establishment, dissolution, and bankruptcy. It is crucial to help small businesses grow into large ones, and large businesses become even larger.”
The Prime Minister called for greater decentralization to ministries, sectors, and localities in engaging private enterprises in investment projects, emphasizing the need to ensure progress, quality, cost efficiency, and zero tolerance for corruption, waste, or negativity.