Private sector economy in Vietnam: A policy perspective

Abstract

Through the renovation journey from a centrally planned economy to a socialist-oriented market economy, the private sector economy has been gradually recognized and increasingly affirmed its role as an important driving force of the economy in Vietnam. The paper analyzes the stages of policy development for the private sector economy, especially emphasizing the significance of Resolution No. 68-NQ/TW in establishing a new position for the private sector economy. Furthermore, the paper also assesses the current development status of the private sector economy, including outstanding achievements in terms of contribution to GDP, job creation, along with existing limitations and challenges. On that basis, a number of solutions and policy implications are proposed to continue removing barriers, and creating a favorable environment to enhance the practical application of Resolution 68, in order to promote sustainable development of the private economy, effectively contributing to the goal of national prosperity. Kinh tế tư nhân, Việt Nam, Chính sách