Entering the 2025-2030 period, Vietnam's private economy continues to be identified as an important pillar in the national economic development strategy. Policy adjustments, digital transformation trends and international integration will create many opportunities but also pose many challenges.

At the seminar "Vietnam's private economy in the breakthrough period 2025 - 2030" organized by VITV Economic - Financial Television Channel on the morning of March 15 in Hanoi, Associate Professor, Dr. Tran Dinh Thien - Member of the National Financial - Monetary Policy Advisory Council, commented: although the private economic sector contributes more than 50% to GDP, it is still weak and has not yet fully exploited its potential. Recent policies of the Government have had many positive changes to create development momentum for this sector. 

Speakers participating in the discussion "Vietnam's private economy in the breakthrough period 2025 - 2030".

Reality shows that the world is abnormal, Vietnam is in an 'unusual' situation. Vietnam is strongly affected by global fluctuations, but this is also an opportunity for businesses. If they can break through, it will create great significance. Private businesses need to quickly adapt to develop sustainably.

Speaking about the role of the private economy, Professor, Dr. Hoang Van Cuong - Member of the National Assembly's Finance and Budget Committee, emphasized that private enterprises have the ability to adapt faster and accept higher risks than other sectors. In the era of the 4.0 industrial revolution and digital transformation, private enterprises need to promote the application of science and technology to improve competitiveness.

According to Mr. Pham Quang Vinh - former Deputy Minister of Foreign Affairs, the global economy is experiencing major shocks such as the COVID-19 pandemic and the Russia - Ukraine conflict. Accordingly, businesses cannot just react passively but need to have a proactive adaptation strategy to maintain sustainability in a volatile business environment.

From a business perspective, Mr. Pham Dinh Doan - Chairman of the Board of Directors of Phu Thai Group shared: "The change comes so quickly that many businesses panic. Businesses that are 1 day late can lose up to 3 days of opportunity." For Phu Thai, the group must change every day and every hour to adapt to market fluctuations. Businesses must change to enter a new game with fiercer competition.

Mr. Pham Dinh Doan - Chairman of the Board of Directors of Phu Thai Group shared at the seminar.

According to Mr. Doan, Vietnamese enterprises still lack creativity, not real creativity. If enterprises do not have breakthrough changes, they will lose opportunities. The period of 2025 - 2030 is considered a decisive time for the Vietnamese private economic sector.

“The next five years will be an extremely important period. Any business that does not make breakthrough changes will lose opportunities,” emphasized the Chairman of the Board of Directors of Phu Thai Group.

In addition, businesses must rely on their own strength. If it is a small-scale business, it needs to focus on areas with potential, and should not develop into multiple industries. It is necessary to consider and measure its own strength. If it is weak, it can cooperate with large enterprises to rise up.

On a macro level, according to Mr. Doan, for the private economy to develop, there are three important factors that the Government and businesses need to pay attention to: breakthrough, acceleration and synergy. The synergy between the Government, people and businesses will create momentum for the private economy to develop in the coming time.

Trend not to be missed

With the rapid pace of technological change and the increasing demands of the international market, Vietnamese enterprises cannot stay out of the trend of digital transformation and green transformation. Mr. Hoang Viet Cuong - Deputy General Director of Nam A Commercial Joint Stock Bank, commented that green transformation in the recent period has been taking place strongly, thereby creating pressure as well as opportunities for enterprises.

After the COVID-19 pandemic, there may be another pandemic. Businesses need to prepare for unpredictable changes and improve their defenses.

Mr. Nguyen Hai Minh - Vice President of the European Business Association in Vietnam, warned that Europe is applying a series of new trade policies such as the Carbon Border Adjustment Mechanism (CBAM) and the EU Deforestation Prevention Regulation (EUDR)... This forces Vietnamese businesses to adapt if they do not want to be eliminated from the global supply chain.

“Digital transformation requires large investments and may encounter barriers in the early stages. But once the system is operating stably, businesses will realize the true value,” Mr. Minh recommended.

In the context of many challenges, but also many opportunities, Vietnamese private enterprises need to proactively change, boldly invest and improve management capacity to avoid being left behind. What is more important, as experts at the seminar emphasized, is the synergy between enterprises, the government and the people to create a real breakthrough for the economy.

The talk show "Vietnam's private economy - Breakthrough period 2025 - 2030" was held on the occasion of the economic - financial television channel VITV celebrating its 16th anniversary of broadcasting, marking the journey of accompanying and connecting with the Vietnamese business community.

Over the past 16 years, VITV has continuously updated, analyzed and transmitted economic developments, recording the strong development of both private and state-owned enterprises.