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The orientation to perfect Viet Nam's investment to now, the private sector has grown in both quantity
policy in the 2021-2030 period was clearly indicated by and quality, especially in the period 2015-2020 with
the 13 National Party Congress: "The private economy more than 735 thousand newly established enterprises
th
is encouraged to develop in all sectors and fields which (average 122.5 thousand enterprises/year). In general,
are not prohibited by law, are supported to develop in 2021, the whole country has 116,800 newly registered
into strong and competitive private companies and enterprises with a total registered capital of VND 1,611
economic groups. Encouraging private enterprises to trillion and a total number of registered employees of
cooperate and associating with State-owned enterprises, nearly 854,000 employees, a decrease of 13.4% in the
cooperatives and household economies; developing joint number of enterprises; 27.9% in registered capital and
stock companies with the participation of social actors, down 18.1% in number of employees compared to the
especially employees”. previous year.
In addition to the general orientation, the investment Through research and assessment of public investment
policy in the five-year plan 2021-2025 focuses on: in the period 2017-2021, the following conclusions
"Maximizing attracton of investment resources, can be drawn:
diversifying forms of mobilization and use of resources, - The State investment has promoted its role
especially resources non-state investment”; “Encouraging in difficult economic periods and is an important
and attracting non-budget investment in infrastructure driving force, promoting growth and transforming the
development, especially transport. Continuing to amend economy's structure with projects to develop transport
and perfect the system of policies and laws, create an infrastructure, energy...
equal, transparent and open business environment... - The structure of public investment has had positive
Creating all favorable conditions for the private economy changes by increasing investment in infrastructure,
to develop quickly, sustainably, and diversify both in improving the investment environment, promoting
terms of size and quality. economic growth; focusing on investing in industries with
Today, in developed countries, the private sector competitive advantages in the economy. The State budget
accounts for over 85% of GDP, which is the mainstay of has focused more on investment in human development,
the national economy's stable and strong development. and improving the qualifications of workers. Specifically,
Countries with developed market economies have in the total development investment from the State
identified the private economy as the driving force and budget, investment in infrastructure development
backbone of the economy. Since then, the State has created accounts for a fairly large proportion. On average, over
all conditions for this economic sector to develop. In Viet 90% of total development investment expenditure comes
Nam, changes in institutions and policies have created from the State budget.
achievements in developing the private sector. The - A relatively synchronous legal framework has been
private sector has become an important driving force for formed to regulate investment activities in general and
national renewal and development, contributing over state investment in particular. In particular, the Law on
40% of GDP, 30% of the state budget, and attracting about Public Investment 2014 and the Law on Public Investment
85% of the country's labor force. In the context of the Amended and supplemented in 2019. However, the legal
complicated and prolonged COVID-19 pandemic from system related to private investment is still not consistent,
the beginning of 2020, the private sector continues to not synchronized ad can not meet the requirements of
promote its intrinsic strength and become an important private investors. The implementation of the law is not
"traction force" of the Vietnamese economy. From 2011 strict. Administrative reform related to investment is

FIGURE 1: RATE OF INCREASE/DECREASE IN REALIZED FIGURE 2: TOTAL REALIZED INVESTMENT CAPITAL OF THE
INVESTMENT CAPITAL OF THE WHOLE SOCIETY AT CURRENT WHOLE SOCIETY BY ECONOMIC TYPE AT CURRENT PRICES IN
PRICES IN THE PERIOD OF 2017 - 2021 (%) THE PERIOD 2017 - 2021 (THOUSAND BILLION VND)

Source: General Statistics Office (2017 - 2021) Source: General Statistics Office (2017 - 2021)

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