|The 2nd Private Economic Forum opens in HCM City (photo: Nguyen Hoang/VGP)
The delegates said the private sector which comprises businesses and household businesses have expanded rapidly in term of scale, localities and sectors.
The private sector makes up one third of the national economy with many strong brands in key economic sectors. In the 2016-2021 period, the private sector accounted for 46% of GDP and this rate is expected to reach 55% by 2025.
The private sector generates 85% of total employments and contributes 19% of the state budget, one third of total export values, and nearly 60% of the total social investment.
The delegates stressed the need to include household businesses in the group of small and micro businesses to realize the goal of having 1.5 million private businesses by 2025.