Ho Chi Minh City: Binh Duong Ward proposes support for private economic development

Binh Duong Ward in Ho Chi Minh City is actively pursuing policies to foster private economic development, building on its strong foundation in industry, commerce, and urban services. The ward is a national leader with 7 industrial parks and 1 industrial cluster, making it a significant hub for economic activity.

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The private economic sector holds a very important position and role in the socio-economic development of the locality, especially in mobilizing investment resources, developing production and business, creating jobs, generating budget revenue, and promoting economic restructuring.

Currently, Binh Duong Ward is home to 5,061 operating businesses, of which 3,923 are small and medium-sized enterprises (SMEs), accounting for 77.5% of the total. Additionally, there are 5,099 household businesses, collectively employing approximately 70,000 individuals. This robust private sector is seen as crucial for the local economy, driving investment, job creation, and revenue generation.

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Most businesses in the area are small and medium-sized enterprises; many household businesses still have limitations in management capacity, capital, science and technology, digital transformation, and human resource quality.

Officials report a steady increase in business establishments, with 669 new businesses registered since July 1, 2025, and 161 new companies formed in the first half of 2026, with a registered capital of 181 billion VND. Household businesses have also seen significant growth, with 1,983 new registrations since July 1, 2025, and 1,143 new registrations in the first six months of 2026, totaling over 263 billion VND in registered capital.

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We propose that Ho Chi Minh City consider and recommend the Central Government to continue standardizing, synchronizing, and connecting national databases and specialized databases; improve the quality of technical infrastructure, transmission lines, and online public services; accelerate full digitalization and data sharing, reduce the number of documents, and compliance costs for businesses.

Despite this growth, many SMEs and household businesses face challenges related to management capacity, access to capital, technology adoption, digital transformation, and workforce quality. Recognizing these hurdles, the ward's Party Committee and People's Committee have proposed specific measures to the city and central government. These include standardizing national and specialized databases, improving digital infrastructure and online public services, and reducing administrative burdens for businesses. They are particularly seeking targeted support policies for SMEs and household businesses in areas such as digital transformation, technological innovation, brand building, market development, e-commerce, and access to affordable capital.

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Specifically, Binh Duong Ward proposes to research and have more specific and practical support policies for small and medium-sized enterprises and household businesses in digital transformation, technological innovation, brand building, market development, e-commerce, and access to capital at appropriate costs.