In addition to using contributions from FIEs, it's now the time to develop the private sector quickly and sustainably, VCCI (Vietnam Confederation of Commerce and Industry) deputy secretary general Dau Anh Tuan has stated in an article on VietNamNet.
How will Vietnam overcome challenges to realize its development plans? Nguyen Dinh Cung, former head of Central Institute for Economic Management (CIEM), shares his perspective with VietNamNet.
The growth of domestic firms, especially private ones, is expected to cause a significant qualitative change in FDI and export attraction.
The private sector in Viet Nam should receive support to become a pillar of the local economy, said Nguyen Thi Nga, chairwoman of BRG Group.
With a surge of domestic private enterprises spurred on by a more business-friendly climate, the government is vehemently pushing up administrative reforms in favour of investors and businesses.
The State must play a key role in investing in the national railway infrastructure to boost development and attract more private investment, experts have said.
Vietnamese businesses are further participating in the global value chain and reaching out to the world market.
Economist Dr Dinh The Hien, president of the Institute of Information and Economic Research (IIB), talks to Kinh tế & Đô thị (Economic and Urban Affairs) newspaper on the support the private sector wants to receive from the Government.