The private sector is an important driver of economic development, Prime Minister Nguyen Xuan Phuc said at the second Viet Nam Private Sector Forum held in Ha Noi on Monday.

Speaking at the event organised by the Viet Nam Young Entrepreneurs’ Association and the Mekong Business Initiative, the PM said the Government is well aware of the role of the private sector, which was highlighted in the 12th Party Central Committee’s fifth meeting Resolution.

Reiterating the Government’s goal to enable the sector, Phuc said the endeavour is to remove all barriers, while creating the most favourable conditions for the growth of the private sector. He quoted a World Bank representative saying: “Viet Nam has a bright future thanks to the private sector and its people.”

Government conferences and dialogues have spent a lot of time on problems that the private sector encounters, he noted, adding that the Government has pushed ahead with institutional reforms to improve the business environment and facilitate business operation.

The PM encouraged the business community to raise its voice and help the Government boost the economy.

Truong Gia Binh, chairman and CEO of technology firm FPT Corporation, said that if favourable steps are taken for private enterprises as per Government policies, the private sector’s growth will rise from 15 per cent to 50 per cent in the future.

A survey done before the forum opened indicates that 65 per cent of the businesses surveyed expressed hope for an action-oriented Government.

The other key topics discussed include action programmes for the digital economy, agriculture and tourism. — VNS