Chi outlines Vietnam's private sector as strategic economic driver

Chi discussed the management of the non-state business sector in Vietnam, noting that it is a strategic pillar of the domestic economy. The private sector currently contributes over 50 per cent of Vietnam’s GDP and accounts for more than 30 per cent of total state budget revenue. As of the end of August, Vietnam had over one million active businesses.

Chi stated that the government aims for the private sector to reach 55-58 per cent of GDP contribution by 2030. To achieve this, the National Assembly and government are working to institutionalize policies, revise relevant legislation, and create a more open environment for non-state sector participation in major national projects.