Private economy drives national economy

Tuesday, March 25, 2025 | 16:33:05

(VOVWORLD) -The private economy is the most important driver of economic growth, said Deputy Prime Minister Nguyen Chi Dung at a meeting on Monday with ministries and agencies on a project to develop the private sector.

Private economy drives national economy - ảnh 1

Deputy Prime Minister Nguyen Chi Dung (Photo: chinhphu.vn)

The private economic sector comprises 940,000 businesses and 5 million household enterprises, contributes 51% of GDP, 30% of state budget revenue, 30% of import-export turnover, and 60% of social investment capital, and employs 82% of the workforce.

Mr. Dung called for more innovative solutions, stronger consensus in views, greater confidence, and new momentum and spirit in developing the private economy.

Private economy drives national economy - ảnh 2

(Photo: chinhphu.vn)

According to the Deputy Prime Minister, the project should remove obstacles, generate motivation, instill confidence, and create a transparent and appealing environment to encourage private enterprises to enter the market and help them conduct business efficiently. It must be feasible, targeted, accurate, bold, and within the authorities' jurisdiction, he said.