For the private economy to truly change both quantity and quality

However, this sector is also facing many barriers, requiring unified direction and implementation from Party committees and authorities at all levels as well as self-innovation and improvement of each enterprise and business household, helping the private economic sector to truly promote its role, worthy of being the core force of the country's economy.

With clear contributions to GDP growth, job creation, promoting innovation, and improving labor productivity, the private economic sector has become a key force in the province's economy.

Lesson 1: CREATING NEW GROWTH DYNAMICS

Promote growth

In recent years, Bac Giang and the old Bac Ninh provinces have been two localities that have maintained double-digit growth rates for many consecutive years. The economic structure has shifted rapidly towards industry and services, and they are among the localities with outstanding growth rates. From July 1, 2025, after merging the two provinces into the new Bac Ninh province, the economic growth rate has remained stable, in which the industrial production index (IIP) of the whole industry is 12.64% and 16.78% respectively for the two months of July and August 2025.

The automatic production line of Thanh Dung CNC Mechanical Company Limited, Dabaco Industrial Park, Tan Chi Commune specializes in precision mechanical processing, milling, and CNC turning.

An important part of achieving these impressive results is the contribution of the private economic sector. Thanh Dung CNC Mechanical Co., Ltd., Dabaco Industrial Cluster, Tan Chi Commune specializes in precision mechanical processing, milling, and CNC turning. Currently, the Company has signed economic contracts and is the main processing partner for vendors of large enterprises and corporations with foreign direct investment (FDI) in the province such as: Luxshare, Goertek, Foxconn, Samsung. In the first 7 months of 2025, the Company's revenue reached 30 billion VND, striving to increase by about 10% for the whole year compared to 2024; contributing to the state budget about more than 4.8 billion VND in taxes. Mr. Do Thanh Dung, Director of the Company, said: "It is expected that the Company will expand its production scale, build factories, and have a revenue of several hundred billion VND/year".

According to information from Bac Ninh Provincial Tax Department, the private economic sector contributed more than 20% of the province's total budget revenue in the past 3 years (2022-2024), with more than 24,262 billion VND. Mr. Do Cong Tien, Head of Bac Ninh Tax Department shared: "The tax revenue of the private economic sector is sustainable and increases steadily over the years".

A production workshop of BGG Lang Giang Garment Joint Stock Company, Nghia Hoa Industrial Park.

In addition, with flexible scale and quick adaptability, private enterprises and individual business households also create livelihoods and jobs for tens of thousands of workers and play an important role in supplying essential goods and services. BGG Lang Giang Garment Joint Stock Company, Nghia Hoa Industrial Park was established in 2019, with the main production products being jackets, exported to the US, EU, and Korean markets... After 6 years of establishment, up to now, the Company has expanded its factory, forming 2 more factories in the communes: My Thai and Luc Nam, attracting nearly 5,000 local workers, with an average income of 10.5 - 11 million VND/month.

Not only actively investing in production and business, in recent years, the private business community and individual business households have also actively participated in social security activities, with a total value of both cash and in-kind up to tens of billions of VND, such as supporting the prevention of the Covid-19 epidemic, overcoming storms and floods, eliminating temporary houses, dilapidated houses... Mr. Nguyen The Nam, Vice Chairman of the Provincial Young Entrepreneurs Association, said: "From 2020 to now, members of the Provincial Young Entrepreneurs Association have supported cash, gifts and in-kind worth more than 15 billion VND to policy families, people with meritorious services to the revolution and other social security programs".

Number of businesses increased sharply

According to information from the authorities, Bac Ninh province is one of 6 localities with an average growth rate of newly established enterprises in the period of 2022-2024 compared to the period of 2014-2015 higher than the national average (51.3%), and is also one of 8 localities with a density of operating enterprises per 1,000 people higher than the national average, ranking 3rd after Hanoi and Hai Phong in the Red River Delta region. From the beginning of 2025 to the end of August, the whole province has granted new business registration to 4,823 enterprises and 312 branches, representative offices, 1,912 business locations, with a total registered capital of 50,958 billion VND; The number of registered private enterprises operating in the province has increased to more than 30,500, with a total registered capital of about 400,000 billion VND and more than 112,400 individual business households.

It can be seen that the scale, level, business management capacity, production technology, and competitiveness of the private economic sector in the province are increasingly developing. This is thanks to the efforts of the enterprises and business households themselves and the support from the local Party Committee and government in creating a favorable business environment. The province has focused on issuing resolutions, programs, and plans to improve competitiveness, creating conditions to support the development of economic sectors, including the private economic sector. Along with general policies, specific policies issued in recent times have had a positive impact on the development of the private economy. For example, on December 19, 2020, the People's Council of Bac Giang province, term XIX, passed a Resolution promulgating a number of policies to support small and medium enterprises in the province for the period 2021-2025. Or in September 2020, the People's Committee of Bac Ninh province (old) signed with the Ministry of Industry and Trade and Samsung Vietnam Group to implement a program to support local businesses to participate in the supply chain for the Group. As a result, up to now, about 40 private enterprises in the province have participated in the fields of electronic components manufacturing, packaging, transportation, services, etc.

Lychee products in sugar water of VIFOCO Import Export Joint Stock Company, Tien Phong ward have been exported to markets in Korea, France, Germany...

In addition, the province focuses on directing the acceleration of site clearance to create a "clean land" fund for private enterprises to invest; establish a special working group to directly remove obstacles. In addition, proactively promote on-site investment: Support surveys, connect investors, organize seminars, dialogue with the business community or organize regular meetings with entrepreneurs to strengthen confidence and listen to the wishes and difficulties of businesses... This is clearly shown through the annual assessment of the Provincial Competitiveness Index (PCI). For Bac Giang province (formerly), in 2023 and 2024, it ranked 4th out of 63 provinces and cities nationwide; Bac Ninh province (formerly) also ranked high, in which the scores of component indexes, such as market entry; business support policies and labor training all tended to increase.

The business community of Bac Ninh province has gradually matured in all aspects, initially forming a new generation of entrepreneurs, with dynamic, creative, decisive qualities, fully equipped with knowledge, capable of rising up to the challenges of international economic integration. Tuong Vui Trading and Service Company Limited in Vo Cuong Ward was established in 2008, is one of the pioneering private enterprises in the field of providing information technology solutions, Internet of Things (IoT) and artificial intelligence (AI). Mr. Nguyen Van Vui shared: With more than 17 years of experience, the Company has been affirming its position in the security and surveillance equipment market, especially in providing high-quality products such as barcode printers, receipt printers, barcode readers - all manufactured by the famous brand Zebra. Since its establishment, the Company has overcome many challenges and difficulties to develop rapidly and strongly. The company not only meets market demand in providing high-quality security equipment and surveillance cameras, but also continuously improves and applies modern technologies such as IoT and AI to bring optimal solutions to customers. With its continuous efforts, in 2024, the Company was honored to receive a Certificate of Merit from the Chairman of the Provincial People's Committee for its outstanding achievements in business development and construction.

In the context of a rapidly changing economy, with the attention of the Party, the State, local authorities and Party committees, the province's private economic sector is clearly demonstrating its role as a pioneer in adapting to market trends and needs. With the advantage of flexibility, the ability to quickly seize opportunities and proactively improve production and business methods, Bac Ninh private enterprises are increasingly asserting their mettle in competition and reaching out to the international market.

(To be continued)

Article and photos: Thanh Nam - Nguyen Ha

Source: https://baobacninhtv.vn/de-kinh-te-tu-nhan-thuc-su-thay-doi-ca-luong-va-chat-postid426435.bbg