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Vietnam Today

MPI drafts private enterprise development plan

Released at: 07:01, 13/01/2019

MPI drafts private enterprise development plan

Photo: dangcongsan.vn

Vietnam to have at least 1.5 million sustainable businesses by 2030 under draft.

by Linh Chi

The Ministry of Planning and Investment (MPI) has composed a draft plan for the sustainable development of local private enterprises by 2030, according to a report from the Vietnam News Agency.

As per the draft, MPI plans to improve the quality and operational efficiency of private enterprises and also the business environment, so that enterprises may develop. Vietnam strives to have at least 1.5 million sustainable businesses throughout the country by 2030.

According to MPI, local private enterprises will have to narrow the gap in technology level, human resources quality, and competitiveness with the leading group of ASEAN 4.

The ministry will focus on promoting innovation in private enterprises as well as strengthening business links, in order to raise the rate of enterprises participating in regional and global production networks and value chains to the equal of ASEAN 4 countries by 2030.

In addition, to 2030, it is anticipated that growth in the number of workers in the private sector will reach 6-8 per cent and the rate of income improvement among workers must also reach 15-20 per cent.

Regarding solutions, MPI proposed ministries, ministerial-level agencies, and local authorities continue to improve the business environment to ensure trust is maintained and to enhance sustainable business investment by private enterprises.

Enterprises are also encouraged to apply sustainable business models and clean production technologies, efficiently use natural resources, and focus on environmental protection.

In order to implement the plan, ministries, departments and localities should integrate the contents and solutions in their plans for the sustainable development of private enterprises with national target programs, projects, and target programs of related ministries, branches and localities, in order for all resources to be used effectively.

The draft plan will be submitted to the government and sent to ministries and agencies for comment before approval.

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