The Hanoitimes - In the context of global uncertainties, the government set GDP growth target in 2019 of 6.6 - 6.8%, and the inflation rate of 4%. One of Vietnam's key priorities is to develop the private sector by creating a favorable business environments for the benefits of all economic groups, according to Prime Minister Nguyen Xuan Phuc. Prime Minister Nguyen Xuan Phuc. Source: VGP. Vietnam will continue to restructure the economy and revise the growth model substantially, Phuc said at the opening of the National Assembly plenum on October 22. According to Phuc, the government aims to ensure greater efficiency in public investment and capital utilization. Additionally, Phuc stressed the necessary to implement the privatization and divestment process of state-owned enterprises (SOEs) in a transparent and smooth manner, in turn maximizing the benefits of the state. In the first nine months of 2018, 20 major SOEs raised VND20.3 trillion (US$873.38 … [Read more...] about Vietnam gives priority to developing private sector: PM
Private sector
Private sector holds significance for Vietnam economy: Investment minister
The Hanoitimes - There should be appropriate incentives and conditions for Vietnamese enterprises to acquire foreign invested companies, enabling the former to obtain new technologies and move up in the global value chain, the Ministry of Planning and Investment (MPI) informed. The private sector holds significance for Vietnam's economy, while the FDI sector only accounts for 25% of total social investment, stated Nguyen Chi Dung, minister of planning and investment. Illustrative photo. For every business, including foreign investors, maximizing profit is the utmost important factor. However, throughout the process, they have indirectly contributed to the economy through capital contribution, job creation, and poverty reduction, among others, Dung continued. Over 30 years of FDI attraction, the linkage between domestic and FDI sectors left much to be desired, while the development of supporting industries and efficiency of technology transfer activities … [Read more...] about Private sector holds significance for Vietnam economy: Investment minister
Private-sector growth seen as key to financing sustainable development
Private-sector growth seen as key to financing sustainable developmentThe Saigon Times Daily Workers are seen on a production line at a domestic enterprise in this file photo. Private-sector growth seen as key to financing sustainable development - PHOTO: HUNG LE HCMC – Accelerating the development of the private sector and expanding its financial sources are the key goals for Vietnam to meet the financial requirements for the successful execution of the Sustainable Development Goals (SDGs), the United Nations Development Programme (UNDP) stated in a report. This is a key recommendation of the Development Finance Assessment Report titled “Financing Sustainable Development in Vietnam,” released by the UNDP in partnership with the Vietnamese Ministry of Planning and Investment in Hanoi City on September 11, reported the local media. Using the lens of the Integrated National Financing Framework, the report analyzes the composition, characteristics and trends of … [Read more...] about Private-sector growth seen as key to financing sustainable development
Private sector growth
The recommendation was made in a report evaluating financial conditions for Vietnam’s sustainable development, which was released by the UN Development Programme and the Ministry of Planning and Investment on September 11. (Photo for illustration) The report provides an overview about changes in the country’s financing for development, with the aim of helping the country improve the mobilisation, utilization and management of finance for development, in a bid to carry out the 2030 Agenda for Sustainable Development of the UN. It analysed financial structure, characteristics, development trends and investment sources in Vietnam and made comparison with other nations, mainly those in the ASEAN. Vietnam is advised to extend tax base and ensure better management of State property, as well as enhance the efficiency of State expenditure, public investment and public debt management. The report underlined the necessity of ensuring the smooth transition from the … [Read more...] about Private sector growth
Private sector growth – key to financing sustainable development: UNDP report
Developing the private sector and expanding domestic private financial sources are key targets for Vietnam in order to meet financial demand for the successful implementation of the Sustainable Development Goals (SDGs) of the United Nations (Illustrative photo: VNA) Hanoi (VNA) – Developing the private sector and expanding domestic private financial sources are the key targets for Vietnam in order to meet financial demand for the successful implementation of the Sustainable Development Goals (SDGs) of the United Nations. The recommendation was made in a report evaluating financial conditions for Vietnam’s sustainable development, which was released by the UN Development Programme and the Ministry of Planning and Investment on September 11. The report provides an overview about changes in the country’s financing for development, with the aim of helping the country improve the mobilisation, utilization and management of finance for development, in a bid to … [Read more...] about Private sector growth – key to financing sustainable development: UNDP report