Vinh Phuc private economy - Driving force for double-digit growth

In the Vietnamese economic picture, Vinh Phuc has emerged as a bright spot with an impressive economic growth rate, which has been maintained steadily throughout the past term, at nearly double digits, even in difficult times due to the impact of objective factors. The main driving force for this development is the growth of the private economic sector, fostered by breakthrough policies and the dynamism of the business community.

Currently, Vinh Phuc has over 16 thousand enterprises, of which about 98% are small and medium enterprises. The private economic sector in Vinh Phuc is increasingly asserting its key role in the socio-economic development of the province. Private enterprises not only create thousands of jobs, contribute significantly to the state budget but are also pioneers in technological innovation, improving competitiveness and promoting the development of key industries. Many enterprises have been participating in the production chain, being effective supporting enterprises for FDI investors. Over time, these enterprises have grown continuously and created great socio-economic values.

To facilitate the development of the private economy, Vinh Phuc province has implemented many breakthrough support mechanisms and policies. Notably, policies on administrative procedure reform, promoting the application of information technology in handling administrative procedures, reducing time and costs for businesses; The province has issued many preferential investment policies, especially in the fields of supporting industry, high technology and high-tech agriculture, creating an open investment environment, supporting businesses in accessing capital, technology and markets, policies to open up and motivate small and medium enterprises, which helps businesses to increasingly reach new heights.

Thanks to effective support mechanisms and policies, Vinh Phuc's private economy has made significant contributions to the province's economic growth. Many private enterprises have become "leading birds", leading the development of key industries. The development of Vinh Phuc's private economy also demonstrates its adherence to the Central Government's direction on private economic development. Accordingly, the private economy is identified as an important driving force of the economy, which needs to be facilitated to develop strongly and sustainably.

Thuy Linh

Source: http://vinhphuctv.vn/Qu%E1%BA%A3n-tr%E1%BB%8B/Tin-t%E1%BB%A9c-chung/ID/365925/Kinh-te-tu-nhan-Vinh-Phuc--ong-luc-tang-truong-2-con-so