Scientific Seminar: State Economy & Private Economy - Two Strategic Pillars Driving Growth and a Prosperous

17 Apr, 2026

On the morning of April 17, 2026, the University of Economics Ho Chi Minh City (UEH) organized the scientific seminar “State Economy and Private Economy - Two Strategic Pillars Driving Growth and a Prosperous Nation,” with the participation of leaders from Ho Chi Minh City, experts, scholars, and business representatives. The seminar served as a forum for academic and practical exchange, focusing on clarifying the roles of the two economic sectors and promoting dialogue on policy orientations for the new development phase.

Policy context and the need to innovate the growth model

The seminar was held in the context of effectively implementing Resolution No. 68-NQ/TW on private economic development and Resolution No. 79-NQ/TW on continuing to innovate and improve the efficiency of the state economy, which are seen as key conditions for restructuring the growth model and enhancing national competitiveness. Resolution 68 identifies the private economy as one of the most important drivers of growth, while Resolution 79 affirms that the state economy plays a leading role in guiding and regulating the economy. Together, these two sectors form the two strategic pillars of Vietnam’s socialist-oriented market economy.

However, practical realities show that the state economy's efficiency has not yet matched its resources, while the private sector still faces difficulties in accessing development resources. This requires continued institutional improvement and a more transparent, stable, and equal business environment.

In his opening remarks, Mr. Nguyen Manh Cuong - Vice Chairman of the Ho Chi Minh City People’s Committee - highly appreciated UEH’s initiative in organizing a policy-relevant academic forum. He noted that this is an important forum for connecting academia, policy, and business, thereby providing arguments and recommendations that help improve Ho Chi Minh City’s socio-economic development strategy.

Mr. Nguyen Manh Cuong - Vice Chairman of the Ho Chi Minh City People’s Committee delivers the opening remarks

A multidimensional academic forum with in-depth presentations

The seminar “State Economy and Private Economy - Two Strategic Pillars Driving Growth and a Prosperous Nation” brought together many experts, scholars, and business representatives with presentations on topics such as:

- A comprehensive assessment of the roles, efficiency, and contributions of the two economic sectors in the new development phase;

- Analysis of institutional, governance, and resource allocation bottlenecks;

- Clarification of the roles of the two sectors in scientific and technological development, innovation, digital transformation, and the formation of new growth models;

- Proposals to improve the efficiency of the state economy and strongly promote the development of the private economy;

- Reference to international experience and policy suggestions for Vietnam and Ho Chi Minh City.

Dr. Nguyen Kim Duc - Vice Dean in charge of the School of Economics, UEH, presents the paper “Private Economic Development - A Strategic Action Framework in the New Context”

Dr. Tran Anh Tuan - Chairman of the Board of Directors of Tan Thuan Industrial Development Company, presents the paper “The State Economy and Ho Chi Minh City Economic Growth”

Prof. Hans Lööf - KTH Royal Institute of Technology, Sweden, presents the paper “Innovation and the Goal of Double-Digit Economic Growth”

In addition, the discussion session during the seminar expanded on the issues raised in the presentations, focusing on identifying opportunities and challenges and proposing practical solutions for the development of the state and private economic sectors.

The discussion session recorded many important contributions to promoting the development of the two economic sectors

Policy recommendations and long-term development orientations

From the presentations and discussions, the seminar clarified many important policy directions and recommendations, including:

- Improving institutions to ensure a transparent, stable, and fair business environment;

- Strongly shifting the role of the State from direct intervention to development facilitation, while separating management functions from ownership functions;

- Improving the efficiency of state-owned enterprises, focusing on essential and leading sectors;

- Removing barriers for the private economic sector, creating favorable conditions for the private economy to play its role as an important driver of growth, especially in innovation and the development of new industries;

- Developing a modern financial market and promoting public-private partnership models;

- Strengthening the linkage among the State - Business - University to transform knowledge into productive development capacity;

- Developing high-quality human resources and digital infrastructure.

The seminar affirmed that in the new development phase, the state economy and private economy do not oppose each other but complement one another within a unified development ecosystem. The state economy plays a guiding, leading role and ensures major balances; the private economy is an important driver of growth, innovation, and international integration. Completing the institutional framework so that both sectors develop harmoniously and fulfill their roles in line with the spirit of Resolutions 68-NQ/TW and 79-NQ/TW will be a key factor in achieving rapid, sustainable growth and enhancing Vietnam’s economic standing.

The outcomes of the seminar are expected to be concretized into a Policy Brief for implementation under the Resolutions, along with institutional reform recommendations to improve the efficiency of state-owned enterprises and promote the private economy. At the same time, the seminar proposes a State - Business - University cooperation model, publishes an ISBN seminar proceedings volume, and selects high-quality papers for publication in reputable journals, thereby laying the foundation for a long-term cooperation roadmap, forming research - policy advisory groups, and developing a series of periodic dialogue forums.

The seminar is not only an academic forum but also a clear demonstration of UEH’s development orientation as a multidisciplinary research university that is closely connected to practice. As Assoc. Prof. Bui Quang Hung - Interim President of UEH - emphasized: “UEH is gradually realizing the City University Hub model - becoming a knowledge center accompanying local authorities in strategy building, policy design and evaluation, as well as addressing critical development issues. With this orientation, UEH commits not only to training high-quality human resources but also to promoting interdisciplinary research, providing scientific arguments and policy advice, and making practical contributions to the sustainable development of society and the economy.”

Assoc. Prof. Bui Quang Hung - Interim President of UEH speaks at the seminar

Delegates attending the seminar take commemorative photos

More photos from the seminar:

Overview of the seminar

Prof. Nguyen Dong Phong - Chairman of the UEH Strategic Development Council speaks at the seminar

Prof. Nguyen Trong Hoai - Deputy Editor-in-Chief of the Asian Journal of Business and Economics Research, Former Vice Rector of UEH shares insights during the discussion session