On the driving force role of the private sector in the economy

Abstract

The private sector is considered an important constituent part of the economy. An increase in the number of private firms has been associated with strong growth in total capital of private firms. The private sector has greatly contributed to the formation of fixed assets, long-term investments of the business sector in particular and the whole economy in general; making important contributions to economic growth, job creation, economic restructuring towards innovation and improvement of Vietnam’s competitiveness in recent years.