Vietnam’s Communists Call on Private Sector to Spur Growth
- Five-year plan calls for doubling per capital GDP by 2025
- Goal of average economic growth of 6.5%-7% in 2021-2025 period
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Vietnam’s Communist leaders are seeking to relinquish most of the state’s control over the economy to the private sector as they look to push for faster growth and productivity.
Delegates at the National Party Congress this week are expected to approve a five-year economic blueprint that calls for private companies to account for more than half of the economy by 2025, from 42% now, and to almost double per-capita gross domestic product in one of the world’s fastest growing economies.