Businesses are crucial to socio-economic development: Deputy PM

Sunday, Oct 06, 2019 18:00

Deputy Prime Minister Trinh Dinh Dung speaks during the Vietnam Business Forum 2019 in the central coastal city of Da Nang on Saturday. — Photo

Businesses are the main force of the nation to promote economic growth, social development, and employment.

That statement was made by Deputy Prime Minister Trinh Dinh Dung during the Vietnam Business Forum 2019 in the central coastal city of Da Nang on Saturday.

The country now houses more than 715,000 active businesses and more than five million business households. The number of entrepreneurs is estimated at 5-7 million.

The business sector accounts for 60 per cent of the national gross domestic product (GDP) and about 70 per cent of the State budget revenue, and employs tens of millions of people, the official said.

The private sector is playing a decisive role in the economy, making up 43.3 per cent of the GDP since 2016.

According to the Deputy PM, the Government will focus on building a 10-year development strategy as well as national, regional and provincial planning schemes for 2030 to develop the country into a modern industrialised society.

He called on businesses to redouble efforts to restructure products, investment, administration and human resources based on the market’s demands while paying more attention to building brands and business culture.

Entrepreneurs should be pioneers in science and technology as well as promoting innovation and optimising advantages from the Fourth Industrial Revolution to create high-quality and globally competitive products, the official said.

He asked the Vietnamese business community to strengthen coordination and proactively improve their operation and expand international trade relations as well as make use of opportunities from new-generation bilateral and multilateral free trade agreements.

The Deputy PM also called on them to take the lead in abiding by the laws while paying attention to social responsibility, green and sustainable development, and having specific actions to protect the environment. — VNS

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