VET Exclusive

Vietnam needs to fully address the shortcomings in its economy as it pursues higher growth, with the Party General Secretary calling for a new, groundbreaking resolution on private sector development.

Vietnam Economic Times / VnEconomy sought insights from educators and businesses on the need for institutional reforms and a more favorable business environment to help domestic enterprises drive breakthrough growth to ensure the country meets its GDP growth target of 8 per cent or higher in 2025 and double-digit growth beyond.

Mr. Le Chi Phuc, CEO of SGI Capital, tells Vietnam Economic Times / VnEconomy’s Phan Linh how institutional reform can maximize the potential of the private sector and drive sustainable growth opportunities for Vietnam over the next decade.

Though now recognized as a key component of Vietnam’s economy, domestic private enterprises still have much to do on their own part to reach their full potential.

A host of considerations will need to be taken into account as Vietnam’s goes about developing its financial centers.

Efficient credit allocation is central to controlling inflation and ensuring banking system safety.