Mr. Phuc quoted World Bank President Jim Yong Kim as saying that Vietnam is in possession of bright prospects thanks to private businesses, determined people and its location in a economically dynamic Southeast Asian region.

“Action is the Government’s top priority. We are acting to turn the private sector into a key component of the economy. The Government has hosted hundreds of meetings, conferences and dialogues to discuss high-tech industry, tourism, aquaculture and other pressing issues with businesses. On average, we meet with the business community every day,” Mr. Phuc said.    

Since 2010, the private sector has contributed over 43% of Vietnam’s GDP while that of the state economic sector has been 29%. Prime Minister Phuc urged private enterprises to raise the proportion to 50%-60% in the near future. The 2017 Vietnam Private Sector Forum centered around agriculture, tourism and the digital economy.