Hanoi: The Vietnam Private Economic Landscape (ViPEL) model was launched in Hanoi on September 11, with the goal of transforming the private sector into the primary driver of the country’s development. The launch ceremony was organized by the Board for Private Economic Development Research, which functions under the Prime Minister’s Advisory Council for Administrative Procedure Reform.
According to Vietnam News Agency, the introduction of the ViPEL model marks a significant step in Vietnam’s economic strategy, focusing on empowering the private sector to play a central role in the nation’s growth. The initiative is expected to foster an environment where private enterprises can thrive, contributing substantially to the national economy.
The Board for Private Economic Development Research, responsible for the development and launch of the ViPEL model, aims to streamline administrative processes and create more favorable conditions for private businesses. This move is anticipated to enhance competitiveness and innovation within the sector, further solidifying its position as a key component of Vietnam’s economic landscape.