Perspectives and Solutions for Developing the Private Economic Sector in the New Era

Abstract

Since the 12th Central Executive Committee issued Resolution No. 10-NQ/TW on developing the private economy into an important driving force of the socialist-oriented market economy (in 2017), the private sector has increasingly contributed to the growth and development of the Vietnamese economy in terms of GDP growth, social investment, and job creation. However, barriers from policy mechanisms and internal weaknesses have hindered the development of the private sector. The article outlines the roles and contributions of the private economic sector, the barriers, shortcomings and limitations that have hindered its development in recent times, thereby proposing key viewpoints and solutions to foster the private sector, implementation of Resolution No.68-NQ/TW dated May 4, 2025 of the Politburo on private economic development, so that it can be truly promoted as the most important driving force for national economic growth and development in the new era.