Illustrative image (Photo: VNA)
Hanoi (VNA) – Experts attending a workshop in Hanoi
on March 12 suggested creating an equal competition environment and reforming the
system of State resources allocation to spur the development of the private
economic sector in Vietnam.
According to the Ministry of Planning and Investment,
the sector makes up 42-43 percent of the national GDP and employs around 85
percent of the workforce.
Minister of Planning and Investment Nguyen Chi Dung highlighted
the ample space for growth of the sector, which, he said, needs maximum support.
He said management agencies should change their mindset
to contribute to the sector’s growth, given good opportunities for local
enterprises like those generated by free trade agreements, the fourth Industrial
Revolution, and the shift of global production chains.
The minister also pointed out limitations in the sector
such as low productivity and poor scientific-technological capacity.
Economist Pham Chi Lan said connectivity between Vietnamese
firms has remained weak, and they have yet to paid due attention to improving the
connectivity as well as competitive capacity to join regional and global value
chains.
Deputy Director of the Central Institute for
Economic Management (CIEM) Dr. Phan Duc Hieu stressed the need to identify the
State’s role in the market economy and encourage enterprises to play a part in
investment and provision of public services.
He also suggested raising the quality and feasibility
of incentives, saying apart from the mindset, management methods should also be
revamped./.
VNA