Private economy creates development

Ham Kiem 1 Industrial Park (photo St) — Ham Kiem 1 Industrial Park. Photo: St

Private enterprises continue to grow

According to the Department of Finance, by May 2025, in 45 communes, wards and special zones of Lam Dong province (formerly Binh Thuan ), there were 7,162 operating enterprises, the number of enterprises growing rapidly from less than 4,000 enterprises in 2017, to more than 6,800 enterprises in 2024 and continuing to increase steadily in 2025. The proportion of GRDP contribution from the private economic sector in 2024 reached about 70.75%. The private economy created jobs for more than 78,000 workers, contributing over VND 2,468 billion to the domestic budget, equivalent to 24% of total domestic revenue in 2024.

However, according to the assessment of professional agencies, most private enterprises in the 45 communes, wards and special economic zones of the province are currently small in scale, with limited competitiveness, operational efficiency, business capacity and management skills. On the other hand, the number of large-scale enterprises with the capacity to lead supply chains is still small. Enterprises still have difficulty accessing capital, and the capital absorption rate is lower than the national average. On the other hand, private enterprises still lack high-quality human resources, especially in the pillar industries: tourism , processing industry, logistics services, etc.

Based on this reality, the Provincial People's Committee has built and set out the goal of developing the private economy by 2030, striving to have 12,000 enterprises operating in high-proportion industries in the fields of trade, accommodation - tourism services, construction and agricultural - seafood processing, the average growth rate of the private economy by 2030 will reach about 11-12%/year, higher than the growth rate of the economy... The goal by 2045 is for the private economy to develop rapidly, strongly, sustainably, proactively participating in the global production and supply chain...

Still having trouble

However, in reality, the private economy in the 45 communes, wards and special zones of the province is facing certain difficulties. That is the situation of attracting investment from private capital sources has decreased in recent years due to the situation of overlapping and conflicts between planning that are slowly resolved. In addition, the situation of land encroachment of projects is complicated in some localities, so the settlement procedures and time for investors to access land are very slow... There is still a situation of overlapping, duplication and prolonged inspection of the same content and field...

For example, Mr. Nguyen Anh Trang - General Director of Hoang Quan Binh Thuan Real Estate Consulting - Trading - Service Joint Stock Company (Hoang Quan Company) shared some difficulties from the reality of the enterprise itself when investing and developing industrial parks and social housing in some southern provinces and cities. The leader of Hoang Quan Company said that the enterprise operates in 2 areas, including industrial parks, investing in infrastructure construction to welcome FDI capital flows and shifting production. Regarding social housing, providing accommodation for cadres, civil servants, public employees, low-income people, workers, laborers, etc.

In reality, the leader of this enterprise believes that there are some major bottlenecks. These are complicated legal issues, limited profits but high risks. Specifically, social housing is controlled in selling price, but does not receive corresponding incentives in terms of loans, tax exemptions or technical infrastructure. Regulations exist but are not attractive enough and have not been put into practice. In addition, there is a lack of integrated planning: Many industrial parks have sprung up without accompanying worker housing, leading to pressure on urban areas, traffic, and social security, while enterprises face difficulties if they proactively propose to integrate 2 projects. Difficulties range from finding and arranging suitable land funds to adjusting land use planning, construction planning, etc. Next is the inability to access preferential loans. Typically, the Ham Kiem 1 Industrial Park Social Housing Project is almost the only social housing project in Binh Thuan that is eligible for loans and is publicly available on the provincial People's Committee's electronic information portal. However, to date, no state-owned commercial bank has agreed to provide preferential loans, simply because of the high risks and unclear and impractical interest rate compensation. Therefore, the biggest challenge now is how to turn political determination into practical action - this is what the business community is expecting from ministries, branches and localities.

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One of the contents mentioned by Prime Minister Pham Minh Chinh at the discussion with businesses and business associations on Resolution 68-NQ/TW of the Politburo on private economic development at the end of May 2025: Businesses, entrepreneurs, together with the Government, ministries and branches under the leadership of the Party and the management of the State, participate in creating development, giving opinions on building institutions, developing infrastructure, training high-quality human resources, contributing to building and protecting our country in the direction of "sustainable stability, sustainable development, sustainable future", the people are increasingly happy and prosperous.

Improve the business environment

Recently, in order to effectively implement resolutions and policies related to the private economy, local authorities have developed tasks, solutions, and assigned specific tasks. In particular, implementing a reduction of at least 30% of administrative procedure processing time, at least 30% of legal compliance costs... At the same time, thoroughly applying digital transformation to minimize administrative procedure processing time, legal compliance costs and business conditions in regulations on market entry and withdrawal, land, planning, investment, construction, tax, customs, insurance, intellectual property, standards, regulations... Deploying the provision of public services to businesses and business households regardless of administrative boundaries. At the same time, focusing on supporting start-up businesses, innovation, connecting supply chains and export markets. Encouraging the establishment of medium and large-sized enterprises, developing business clusters according to key industries and fields.

Along with that, continue to be proactive and determined in removing difficulties and obstacles, supporting businesses, promoting economic and social growth. In particular, focus on reforming administrative procedures in all areas, focusing on the field of natural resources and environment, building a favorable investment and business environment. At the same time, continue to work directly with businesses and investors to remove difficulties and obstacles in the process of production, business and investment activities. The purpose is to create an equal, transparent and favorable investment and business environment for investors and businesses.

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