The role of Vietnam's private sector 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 Sector in the Industrialization and Modernization Process in Vietnam".Attending the workshop were Assoc. Prof. Dr. Nguyen Van Kim - Vice Rector, Mr. Stefen Urban - Representative of the Konrad Adenauer Institute, Mr. Low Jia Rong - First Secretary of the Singapore Embassy, ​​Assoc. Prof. Dr. Pham Quang Minh - Head of the Faculty of International Studies, Professor Gerd Mutz - Munich University of Applied Sciences (Germany), and many researchers from Vietnam and abroad. The workshop focused on affirming the role of the private economy in the new era, while also 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 – ​​The second wave of innovation in Vietnam, the 1999 and 2005 Enterprise Laws and the development of the private economy in Vietnam, Public-private partnerships in transportation infrastructure construction, The private economy in Vietnam and its role in socio-economic development, The current development of Vietnam's private economy: Opportunities and challenges… The content of the presentations showed that, on the path of innovation and international economic integration, Vietnam's private economic sector is increasingly demonstrating its significant role in the development of the country's economy through its ability to create jobs, establish a widespread distribution network, promote innovation and competitiveness, be dynamic and flexible, and seize opportunities to contribute to the country's development. However, the private sector still faces many obstacles: the majority are spontaneous, susceptible to the consequences of the competitive environment, and affected by the regional economic environment. Therefore, the private sector urgently needs state regulation and further strengthening with policy objectives, not only to combat economic decline but also to continue implementing integration commitments effectively. The government must have a strategy to develop the full potential of people in the private sector. The workshop promises to open up new directions for collaborative research, with new content reflecting the changes that have been and are taking place in Vietnam, especially since Vietnam accelerated its regional and international integration process.