The Prime Minister listens to the voices of private businesses.

This morning (July 31st), the 2nd Vietnam Private Sector Economic Forum (VPSF) 2017 took place in Hanoi, with the participation of nearly 1,000 businesspeople, business associations, experts, and organizations from both within and outside the country. Prime Minister Nguyen Xuan Phuc and leaders from several ministries and sectors attended.

This year's forum is themed "The Private Sector's Action Program Based on Central Resolution No. 5". The forum will focus on discussions and dialogue between the Government and the private sector on three key sectors: agriculture, tourism, and the digital economy.

In addition, the issue of trade facilitation will also be discussed and considered a fundamental area with a strong impact on the movement, growth, and development of various economic sectors and fields.

Prime Minister Nguyen Xuan Phuc: What should Nghe An and businesses do to develop together?

The Prime Minister attended the conference and listened to private businesses. Photo: VGP/Quang Hieu

Following the VPSF Forum 2017, VPSF and the Young Entrepreneurs Association will publish the VPSF Forum 2017 White Paper, which includes joint statements from the Forum, the 10 VPSF working groups, and especially the Business Confidence Survey Index. This is the result of a survey conducted in June across various industries and sectors.

Currently, the private sector is making very important contributions to the country's development, from contributing to the budget and creating jobs to helping solve social problems.

In terms of GDP structure, the private sector has made the highest contribution for many years. Since 2010, its contribution to GDP has consistently been above 43%. This figure is approximately 28.9% for the state-owned sector and around 18% for the foreign direct investment (FDI) sector.

The number of private enterprises has also increased significantly. In 2016, the number of newly established businesses reached a record high, exceeding 110,000. Many brands from the private sector have been formed and recognized in domestic, regional, and international markets. Several large-scale private economic groups and enterprises have emerged, operating in sectors requiring high capital and technology capabilities.

VPSF is an initiative of the Vietnam Young Entrepreneurs Association and the Mekong Subregion Private Sector Development Initiative (MBI) (established by the Asian Development Bank - ADB and the Australian Government). VPSF was formed in 2016 with 10 working groups, covering all key sectors of the economy.

VPSF's mission and vision is to act as a bridge between the Government and public agencies and the private sector to facilitate continuous and close public-private policy consultation and dialogue, based on gathering and reflecting voices from the grassroots level, with the goal of developing the private economy and contributing to the sustainable economic growth of the country.

According to Duc Tuan/chinhphu.vn