The event gathered officials of ministries, agencies, economic experts and 200 representatives of the private business community.
According to reports at the forum, it is a worrying sign that the Vietnamese economy only expanded by 3.32% in the first quarter of 2023, barely higher than the 3.21% growth rate in the same period of 2020 when COVID-19 flared up.
Chairman of the Vietnam Private Business Association Nguyen Trong Dieu said the Party has identified the private sector as an important engine of economic growth, but unfavourable external conditions are creating headwinds for Vietnam’s economy, including private enterprises.
Economist Vu Dinh Anh said the functional agencies need to create a more equal business environment for both state-owned and private enterprises, noting that Vietnam currently has 800,000 enterprises, far behind the target of 1 million set for 2020.
He added that the first quarter witnessed the number of enterprises leaving the market outstrip new enterprises for the first time, making the target of 1 million even more elusive.
For his part, Chairman of the Thanh Hoa Business Association Cao Tien Doan said capital access is a major issue that the business community is interested in.
Doan said it is regarded as a substantive support channel to promote the development of enterprises but noted that many bottlenecks remain, requiring solutions to help enterprises secure funding quickly and efficiently.
