Vietnam holds economic forum to support private sector development

The main purpose of the Vietnam Private Sector Economic Forum 2019 is to serve as a platform supporting the development of the private sector and help realize its full potential as growth engine of the economy, according to Nguyen Huu Nghia, deputy head of the Party Central Committee’s Economic Comission. 

The forum – scheduled to take place on May 2 and 3 – is expected to attract nearly 2,500 private enterprises and hundreds of experts, policy makers, Nghia informed at a press meeting on April 5 providing information on the forum held. 



“The forum is an important reference channel for the government agencies and ministries, especially when they are trying to identify bottlenecks restricting the development of the private sector”, Nghia added.



According to Nghia, over the past few years, Vietnam has issued a number of policies creating favorable conditions for private enterprises to grow, however, the practicality of these regulations remains questionable. 



“This is the reason why we have to listen to recommendations from the business community itself,” Nghia stated. 



Nghia pointed to three main specific objectives of the forum:



Firstly, to evaluate the progress made after two years implementing Resolution No.10 of the Party’s Central Committee on developing the private economy into an important driving force of the socialist-oriented market economy.



Secondly, to promote achievements and contributions of the private sector towards the country’s socio-economic development. 



Thirdly, to provide an opportunity for private enterprises to give direct recommendations to Vietnam’s highest government bodies for further development of the sector. 



On May 2, the first day of the forum, Prime Minister Nguyen Xuan Phuc and Head of the Party Central Committee’s Economic Commission Nguyen Van Binh along with leaders of the government will listen to recommendations collected from 500 major corporations. 



Additionally, a total of six working sessions would be held on the same day, including tourism, digital economy, Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), agricultural value chain, mid- and long-term public investment budget, and startups. 



The second day of the forum will be a networking event for enterprises where they could look for potential partners and business opportunities.