PRIVATE ECONOMIC DEVELOPMENT IN VIETNAM: CURRENT SITUATION AND ISSUES

Abstract

The private economy is an important part of the socialist-oriented market economy in Vietnam. The private economy not only contributes to the socio-economic development but also enhances the strength and competitiveness in the international market and raises the national position. The article mainly uses historical methods, logical methods and some other methods to clarify the role and current status of the private economy in Vietnam with the achievements, remaining limitations and issues. The research results show that, after 40 years of implementing the renovation policy, the Party and the State of Vietnam have always been unified in their perception and action, identifying the private economy as the most important driving force of the economy. From there, the article offers a number of solutions to further promote the role of the private economy in the country's development, contributing to promoting sustainable growth, improving national competitiveness and creating new driving forces for the process of industrialization and modernization. The research results contribute to affirming the important role of private economic development in recent times in shifting the economic structure, expanding the scale of enterprises and developing new industries and fields.