The role of the private economy and recommendations about institutions for sustainable development of the private economy

The private economy is a part of the socialist-oriented market economy. The private economy in Vietnam is growing and significantly contributing to national socio-economic development. Accompanying the country's development over many periods, the private economy has continuously developed in both scale and quality and has affirmed its role as an important driving force in the national economy. This study analyzes the role of the private economic sector, some institutional issues of private economic development in Vietnam, and proposes some institutional solutions for the sustainable development of the private economy.