Some solutions to developing private sector in Vietnam in the current context

Abstract

       Vietnam’s advocacy of developing a market economy with several economic sectors and many economic types, with an emphasis on developing the private sector is considered as one of the important driving forces to boost the economy pushing up the national comprehensive development and international integration. During the process of innovation and integration, the private sector has not only contributed significantly to mobilizing social resources into investing in production and business development, but also made an important contribution to an increase in State budget collection, created job opportunities and pushed up the country’s overall economic value. However, there are still limitations and problems that need to be resolved. This article focuses on analyzing the current state of development of the private sector in Vietnam recently, thereby proposing some solutions to developing the country’s private sector in the future.