TRÀ VINH — This southern province will support the development of 15,000 private enterprises by 2030, officials have said.

The province strives to have 4,000 private firms by 2020 and 7,500 private firms by 2025, according to the provincial development plan for the private economic sector for the 2011-20 period.

Under the plan, the private economic sector will contribute VNĐ12 trillion (US$533 million) to the provincial State budget during the 2016-20 period, 3.3 times higher than its contribution in the 2011-15 period.

Trà Vinh has built many solutions to achieve targets, including the creation of favourable investment and business environments for enterprises, the improvement of enterprises’ ability to enter the market and the promotion of the private economic sector’s fair competition.

The province will have solutions in place to help the private economic sector renew production technology and develop human resources, improve labour capacity and increase the efficiency of State management.

The province has invested in the infrastructure of Định An Economic Zone and the Cổ Chiến and Cầu Quan industrial parks.

Departments have implemented the electronic one-stop-shop model and provided online public services, especially online tax declaration and payment. This action will encourage individual households to convert to private enterprises.

Sơn Thị Ánh Hồng, deputy secretary of the Party Committee of Trà Vinh, said that in the 2011-15 period, the provincial private economic sector contributed over VNĐ3.625 trillion to its State budget. Trà Vinh currently has more than 1,900 enterprises and more than 60,000 individual business households. However, some 98 per cent of them are small and medium enterprises. 

In the 2012-16 period, the province established 1,192 new businesses but also dissolved 499 enterprises due to ineffective operation. — VNS