Promoting Private Economic Development in Vietnam in the Current International Integration Process

Abstract

The private economy has been affirming its increasingly important role in the Vietnamese economy, especially in the context of deep international integration. Based on statistics for the period 2015-2024 and SWOT analysis, the article assesses the role and current situation of the private economic sector, and quantifies the opportunities (market expansion thanks to more than 15 new-generation FTA agreements) and challenges (competitive pressure, technology gap). The research results propose a group of key solutions including institutional reform, human resource development, innovation support and strengthening value chain linkages to increase the contribution of this sector to 50% of GDP by 2030, meeting the requirements of the process of deep international integration. The article clarifies the role and current situation of the development of the private economy in Vietnam, pointing out the opportunities and challenges for private economic development in the process of deep international integration. On that basis, the article proposes a number of solutions to promote the sustainable and effective development of the private economy in the current international integration process.