Business players and experts discussed ways to develop the private sector towards realising the country’s goal of becoming a modern industrialized country by 2035.
Da Nang (VNA) – Business players and experts discussed ways to develop the private sector towards realising the country’s goal of becoming a modern industrialized country by 2035 during a seminar held in the central city of Da Nang on June 15.
To achieve the goal, the Vietnamese government and the World Bank drafted the Vietnam Report 2035 last July, which recommended six key transformations that Vietnam should make to reach upper-middle income status, including enabling economic modernisation with a productive and globally competitive private sector.
Economist Pham Chi Lan, in her speech, urged for a favourable environment to enhance the private sector’s competitiveness and productivity, comprehensive reform of State-owned enterprises, market-oriented agricultural reform, tapping external trade opportunities, and joining global value chains.
General Secretary of the Vietnam Chamber of Commerce and Industry (VCCI) Pham Thi Thu Hang pointed out low productivity and the weakness of the private sector as hindrances to Vietnam’s economic growth. She said the weakness partly has its root in limited institutions, which once improved will create more development space for businesses, particularly those in the private sector.
Tran Thi Lan Huong from the World Bank suggested laying a legal framework for the people to exercise their basic rights and create mechanisms to ensure state agencies’ transparency and accountability to the public.
The seminar was co-h🌃osted by the VCCI and the WB.-VNA
Capital from the private sector is expected to further increase in the coming years thanks to Public - Private Partnerships (PPP), according to independent market observers.
Private firms should be more dynamic in developing linkages and production chains to sharpen competitive edges as the country was underway to integrate deeply into the global economy.
The business community, Government bodies and sectors will seek out ways to boost the private sector at a conference late this month in Ho Chi Minh City.
The North-South Expressway project is scheduled for completion by 2030, aiming to establish the groundwork for Vietnam’s modern railway industry and stimulate regional economic development, positioning the country for a significant economic leap in the era of national rise.
The probe, initiated on June 11 following a petition by the US Coalition for Fair Trade in Hardwood Plywood, targets products classified under HS Code 4412 and 9403 imported from China, Indonesia and Vietnam.
Sun PhuQuoc Airways was born as a perfect piece in Sun Group’s strategic vision to build a premium ecosystem of tourism, entertainment, real estate, and aviation. With a pioneering ambition, Sun PhuQuoc Airways is not just an airline, but a symbol of connection – bringing the world to Phu Quoc and taking Phu Quoc to the world.
A key change in the draft decree is a provision requiring bank transfers for gold transactions valued at 20 million VND (765 USD) and above, to enhance transparency and verify customer identities.
In the first four months of 2025, trade turnover between Vietnam and Cambodia surpassed 3 billion USD, marking a 7% increase compared to the same period in 2024.
On June 19 alone, a total of 2,005 trucks completed customs clearance at Lang Son’s border gates — the highest single-day figure ever recorded in the province. Of these, 634 carried exports and 1,371 imports.
The OECD Economic Surveys: Vietnam 2025 report focuses on analysing the country’s macroeconomic fundamentals, the impact of international integration on attracting foreign investment and trade, and the country’s prospects for developing a low-carbon economy.
Antoine Colin, Senior Vice President for Global Supply Chain Digital Transformation & Resilience at HP Inc., affirmed HP’s strategic commitment to building a supply chain and ecosystem in Vietnam and the region.
Deputy Director General of the Ministry of Industry and Trade (MoIT)’s Trade Promotion Agency Bui Quang Hung emphasised that logistics has evolved from a technical function into a core capability for Vietnamese exporters to maintain their competitive advantage in the US market.
A trade official has suggested companies work closely with shipping lines, airlines, and freight forwarders to monitor routes, transit times, and potential surcharges while exploring broader cargo insurance to cover risks like war and terrorism.
In addition to institutional reform, the agency is also rolling out key solution groups to combat counterfeit goods, imitations, and intellectual property infringements in the digital environment.
The event, co-organised by the Vietnam Trade Office in the UK and TT Meridian, a local importer of Vietnamese fresh produce, aims to build a national lychee brand and encourage broader recognition of Vietnamese fruits in a competitive, high-end market.
The industry's performance has been powered by bold investments in modern production lines, enabling Vietnamese firms to produce complicated products which were exclusive to advanced economies.
Outcomes of ABAC III will shape ABAC’s final policy recommendations to be submitted to the ABAC-APEC leaders’ dialogue, scheduled to take place in the Republic of Korea this November.
This is the second year the magazine has released the ranking, which is based on total revenue and key financial indicators of enterprises from seven countries in the region: Vietnam, Indonesia, Thailand, Malaysia, Singapore, the Philippines, and Cambodia.
At the summit, publishing, tech, and media sectors will discuss emerging trends, business models, and sustainable solutions for digital publishing development in Vietnam.
This year’s “Vietnam Goods Week” marks a significant milestone as it is being held simultaneously for the first time in four locations across Asia: Japan, Hong Kong (China), Cambodia, and Malaysia, from June 19 - 22.
Delegates at the seminar (Source: vtv.vn)
