Legal environment for the development of the private sector in Vietnam in the new era

Abstract

In the current domestic context, the private sector is intrinsically linked to and inseparable from the market economy. To ensure the progression of the private sector, it is imperative to remove institutional bottlenecks and establish an optimal, appropriate legal business environment. By analyzing the legal requirements for private sector development and the market economy, this article researches and categorizes the essential components of the general legal business environment; then, it evaluates the current status and proposes orientations for reforming the legal business environment in Vietnam.