The impact of the market economic institution to the development of the private sector

Abstract

The private sector is an important driving force for the development of most economies in the world. A fast-growing and sustainable economy always has a developed private sector. Recognizing this, the Party and the State have paid much attention and have had important policies to promote the development of the private sector, most recently Resolution No. 10 – NQ / TW on the development of the private sector to become an important part of a socialist-oriented market economy. The private sector has had many positive changes in recent years. However, the development issues of the private sector have persisted for a long time, such as small scale, technological level, poor management, low competitiveness, linkages between private enterprises, and limitation on the participation of the global value chain. Therefore, shortly, it is necessary to have reasonable solutions to promote the development of the private sector to become a driving force for economic growth.