Last Saturday, a scientific-practical seminar took place in Da Nang entitled ‘Private Economic Sector is an Important Driving Force for Developing Viet Nam’s Economy’.

Deputy Secretary Tri (1st left) at the seminar

Addressing the event, municipal Party Committee Deputy Secretary Vo Cong Tri remarked, “Over recent years, Da Nang has focused on accelerating administrative reforms and issuing numerous support policies for local businesses in order to help them overcome their difficulties and promote their trade and production activities.  Thanks to this, the number of newly-established businesses has increased significantly.  As of September this year, more than 18,000 businesses are operating in the city with a total investment of over 89,000 billion VND”.

Deputy Secretary Tri continued, “This seminar is a good opportunity for the local authorities to listen to opinions and aspirations from representatives from local private businesses in order to perfect support policies for them.  This will, in turn, help to make Da Nang become one of the country’s largest urban areas in Viet Nam, and an economic, cultural and social hub in the central region and highlands”.

Currently, 95% of the domestic businesses operating in the central region and highlands are private ones.  However, such businesses have yet to fully tap their great potential and strengths due to their small-scale of operation, ineffective business activities, and low labour productivity.

Quang Nam Province People’s Committee Vice Chairman Le Tri Thanh said that even more preferential policies should be created for private businesses to help them feel secure whilst operating their businesses.

Some participants stressed the need for the national government to accelerate administrative reforms, enhance the capacities of State management employees, and ensure a transparent investment environment for private businesses in the current context of the country’s deeper integration into the World Trade Organisation and ASEAN Economic Community.

More measures should be taken to uphold the important roles of domestic business associations in supporting their members. 

In addition, the participants suggested that even more meetings and dialogues between the State and private businesses should be held to promptly handle any difficulties facing them.  Also, greater efforts should be made to encourage such businesses to promote start-up business activities in order to ensure the sustainable development of the whole business community and to boost their global integration.

The Chairman of the city’s Small and Medium-sized Enterprises (SMEs) Association cum General Director of Binh Vinh Corporation, Mr Pham Bac Binh, stressed the need for the city authorities to facilitate more SMEs to access loans from the city’s development funds to develop their production activities.