Private sector contributes some 45% to GDP

The private sector has made sizable contribution to the national economy, contributing some 45% of GDP.

Head of Legal Department of Vietnam Chamber of Commerce and Industry (VCCI) Dau Anh Tuan said that private enterprises need streamlined business conditions to develop.

Review and simplification administrative business procedures must be done continuously without delays. There should be an independent monitoring mechanism to filter new business conditions and licenses. A laissez-faire mechanism by ministries to impose business conditions at ease may harm Vietnam's efforts to improve business conditions and administrative procedures., said Tuan.

Source: VOV5