Private-sector development in Ho Chi Minh City in the new era: An institutional perspective

This study analyzes private-sector development in Ho Chi Minh City in the context of implementing Resolution No. 68-NQ/TW, reorganizing development space, operating the two-tier local government model, and implementing the Resolution of the 14th National Congress of the Communist Party of Vietnam. Drawing on political economy and institutional economics, the study highlights notable achievements of the private sector while identifying a gap between market strength and governance quality, particularly bottlenecks in access to resources, consistency of policy implementation, and development-enabling capacity. On this basis, the study proposes institutional reforms aimed at shifting from administrative support toward creating a transparent, stable, and competitive environment for private-sector development.