Today: 27/02/2024 11:00:19 (GMT+7)

Government eyes 50% increase in private businesses to 1.5 mln

The government plans to have 1.5 million privately owned businesses by 2025 to make the private sector an important driving force for the economy.

A recent resolution issued by the government envisages half of them being medium or large sized. Currently there are nearly one million private businesses, of which more than 95% are small or medium sized.

Government, 50% increase, private businesses, important driving force,  country’s GDP, drafting supportive policies

Workers at a Dony Garment Company factory in Tan Binh District, Ho Chi Minh City.

The private sector is expected to contribute 55% of the country’s GDP by 2025, rising to 60-65% in the next five years.

The government also seeks to raise the productivity of private sector workers by 5% a year to close the gap with the ASEAN-4 group (Indonesia, Malaysia, Philippines, Thailand).

The Ministry of Planning and Investment has been tasked with drafting supportive policies and working with cities and provinces to develop infrastructure at industrial parks, industrial clusters and economic zones.

Bac Giang establishes two industrial clusters
(BGO) – The People’s Committee in Bac Giang province has issued Decision to establish two new industrial clusters of Phuong Son (Luc Ngan district) and Dai Lam No.2 (Lang Giang district).
Southern industrial rents 42% higher than in north
Average industrial land rents in the south are 42% higher than in the north, according to real estate consultancy Cushman & Wakefield Vietnam.
Vietnam’s industrial production index up 5.1% in February
Vietnam’s index of industrial production in February rose by 5.1% against the previous month because of a greater number of working days than January, according to the General Statistics Office.
Industrial production value up 13.7 percent
(BGO) – The industrial production value (actual) in February is estimated at 35,330 billion VND (1.5 billion USD) in Bac Giang province (making up 25.2 percent year on year increase) and 68,150 billion VND in the first two months (up 13.7 percent comparing to the same period last year), reported the Department of Industry and Trade.
Bac Giang ensures traffic safety, eases congestion in industrial parks
(BGO) – Bac Giang province has 6 operating industrial parks (IP), namely Song Khe – Noi Hoang, Van Trung, Dinh Tram, Quang Chau, Hoa Phu and Vietnam – Korean with more than 180,000 labours at enterprises.

Source: VnExpress

Government, 50% increase, private businesses, important driving force, country’s GDP, drafting supportive policies
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