Vietnam and China discuss policies to support private sector growth
On September 21 at the Ministry of Finance headquarters in Hanoi Deputy Minister Nguyen Duc Chi held talks with a delegation from the Central Social Work Department of the Communist Party of China Central Committee led by Zhao Shitang Deputy Minister of the department
Vietnam and China engaged in discussions about policies to boost private sector growth. Deputy Minister of Finance Nguyen Duc Chi and Deputy Minister Zhao Shitang from the CPC Central Committee's Central Social Work Department met to explore Vietnam's management of the private business sector. Vietnam's private sector currently contributes over 50% of the country's GDP and employs more than 82% of the workforce, making it a crucial pillar of the economy.
By 2030, Vietnam aims to have two million private enterprises, with their contribution to GDP rising to 55-58% and their share of the state budget increasing to 35-40%. To achieve these goals, Vietnam has implemented policies to create a more open and transparent investment environment, encourage participation in major national projects, and mobilize financial resources, especially for small and medium-sized enterprises.
The Chinese delegation expressed confidence in Vietnam's investment environment and highlighted the importance of foreign-invested enterprises, including Chinese businesses, in Vietnam's economy. They also proposed a regulatory and financial reform, including an FDI-linked sandbox and a small- and medium-sized enterprise digital bank, to accelerate GDP growth in the second half of 2026.
Written by urgent.news from Vietnam Investment Review's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
