The role of Vietnam's private economy in the new era

On April 5, 2011, the University of Social Sciences and Humanities and the Konrad Adenauer Institute (Germany) in Vietnam jointly organized the International Conference “The role of the private economic sector in the industrialization and modernization process in Vietnam”.Attending the workshop were Associate Professor Dr. Nguyen Van Kim - Vice Rector, Mr. Stefen Urban - Representative of Konrad Adenauer Institute, Mr. Low Jia Rong - First Secretary of the Embassy of Singapore, Associate Professor Dr. Pham Quang Minh - Head of the Faculty of International Studies, Professor Gerd Mutz - University of Applied Sciences Munich (Germany) and many domestic and foreign researchers. The content of the workshop focused on affirming the role of the private economy in the new era, and at the same time discussing solutions for the development of this economic sector. During the one-day workshop, many issues related to the private economy were discussed such as: Sustainable business development - Second innovation in Vietnam, Enterprise Law 1999 and 2005 and the development of the private economy in Vietnam, Public-private partnership in transport infrastructure construction, Private economy in Vietnam and its role in the development of the socio-economy, The development of Vietnam's private economy today: Opportunities and challenges... The content of the presentations showed that, on the path of innovation and international economic integration, the Vietnamese private economic sector is increasingly demonstrating its great role in the development of the country's economy through its ability to create jobs, establish a widespread distribution network, promote creativity and competitiveness of the economy, be dynamic, flexible, and know how to take advantage of opportunities to contribute to the development of the country. However, the private economy still faces many obstacles: most of them are spontaneous, affected by the consequences of the competitive environment, the impacts of the regional economic environment, etc. Therefore, the private economy is in great need of state regulation, needs to be further strengthened with policy goals, not only to combat economic decline but also to continue to effectively implement integration commitments. The government must have a strategy to develop the full potential of people in the private economic sector. The workshop promises to open up new directions for research cooperation, with new content, reflecting the changes that have been taking place in Vietnam, especially since Vietnam has accelerated the process of regional and international integration.