Removing barriers for the private economy to develop to its full potential

The province currently has over 10,534 enterprises, 475 cooperatives and about 35,000 business households in operation. In particular, some key economic sectors that private enterprises are interested in investing in are: renewable energy, high-tech agriculture, processing, tourism, etc.

Every year, the private economic sector contributes 40-45% of the total state budget revenue in the province and creates jobs and income for tens of thousands of local workers. This affirms that the private economic sector is developing strongly and making an important contribution to the socio-economic growth of the province. Some enterprises have become leading enterprises, ranking at the top of the country.

Vinh Hiep Company Limited is one of the leading coffee exporting enterprises in the country. Photo: Duc Thuy

Typically, Vinh Hiep Company Limited - the leading coffee exporter in the country in 2024 and the Company's L'amant coffee brand was also honored as Vietnam National Brand in 2024.

Ms. Tran Thi Lan Anh - Deputy General Director of Vinh Hiep Company Limited - shared: "With 25 years of construction and development, we have created high-quality coffee products with national brands. We have linked with thousands of farmers through cooperatives to cultivate tens of thousands of hectares of sustainable coffee according to international standards to meet the increasingly strict demands of the export market. Thanks to that, in 2024, the Company will achieve an export turnover of over 500 million USD, accounting for nearly 80% of the province's coffee export turnover".

As a province with potential, advantages and room for development, Gia Lai is promoting solutions and implementing many mechanisms and policies, creating a favorable environment to attract investment in areas such as high-tech agriculture, processing industry, renewable energy, tourism...

Along with that, the province also focuses on finding solutions to remove difficulties and obstacles for businesses in order to create a favorable investment and business environment for investors. Thereby, more and more businesses and investors come to Gia Lai to seek investment opportunities; many new businesses are established and the production and business efficiency of businesses is also increasingly developing, bringing in high profits.

Vietnam Coffee United Joint Stock Company (Chu Prong town) is gradually affirming its brand in the international market. Photo: QT

Mr. Nguyen Tien Dinh - Director of Vietnam Coffee United Joint Stock Company (Chu Prong town) assessed: In recent years, all levels in the province have created favorable conditions as well as more open mechanisms and policies, so businesses also have many opportunities to develop.

“With support from local authorities, we have built sustainable coffee production chains, creating stable raw material areas for processing. At the same time, we have been facilitated by departments and branches to participate in trade promotion conferences to find customers…

Thanks to that, up to now, we have expanded our export market to 10 countries around the world. Continuing the success, the Company is focusing on exporting coffee, targeting large, demanding markets in the world such as Japan, the US, etc. At the same time, we continue to link up and expand coffee production areas according to international standards," said Mr. Dinh.

The province’s business environment is gradually improving in the direction of best serving businesses. However, in reality, there are still bottlenecks and bottlenecks that need to be further resolved. Many businesses, cooperatives, and business households still face difficulties in administrative procedures, access to land, capital, etc.

In addition, private enterprises mainly participate in stages with low added value. Without appropriate support policies, the private economic sector will find it difficult to promote its role in promoting sustainable growth. Therefore, enterprises also expect the province to have more synchronous and drastic solutions.

Building a sustainable coffee production chain according to standards helps increase productivity and economic value per unit area. Photo: QT

Mr. Phan Thanh Thien - Chairman of the Provincial Young Entrepreneurs Association, General Director of Truong Sinh Group - said: The private economy is identified by the Party and the State as the leading important driving force in the country's economic development, playing a key role in creating jobs, increasing income for people; at the same time, promoting the dynamism, creativity and international integration of the economy.

However, in order for the private economy in general and young businesses in particular to develop commensurate with expectations, the province needs to focus on implementing a number of new policies. Specifically, there should be policies to support access to preferential capital sources, especially for young businesses and startups in the early stages; it is necessary to build programs to support training in modern business administration, leadership skills, and digital transformation skills to help young businesses quickly improve their competitiveness.

At the same time, there are preferential mechanisms such as simplifying administrative procedures, minimizing barriers to investment procedures, taxes, land and supporting easier access to production and business premises. Building an innovation ecosystem, business incubators, creating a favorable environment for young businesses to be supported, consulted and develop new business ideas.

Up to now, coffee products of Vietnam Coffee United Joint Stock Company (Chu Prong town) have been present in the markets of 10 countries around the world. Photo: QT

To achieve the economic growth target of 8% or more in 2025, the Provincial People's Committee has issued a scenario for the province's economic growth with 12 groups of tasks and solutions to successfully implement the goals and tasks of the socio-economic development plan in 2025; creating a premise to move towards the double-digit growth target in the 2026-2030 period.

In particular, the province clearly identifies the role of economic sectors, especially the private economy, in the goal of economic acceleration and breakthrough.

Specifically, the Provincial People's Committee continues to promote administrative procedure reform, improve the investment environment; prioritize attracting investment in renewable energy, processing industry, and industry serving agricultural development; create favorable conditions for businesses to access and effectively use investment resources in terms of land, capital, technology, etc.

Source: https://baogialai.com.vn/thao-go-rao-can-de-kinh-te-tu-nhan-phat-trien-xung-tam-post316852.html