In Điện Biên, from enterprises operating in the mechanical and construction fields to grassroots cooperative economic models, the private economic sector is progressively affirming its role, becoming one of the crucial driving forces propelling local socio-economic development.

At Điện Biên Agricultural Mechanics and Construction JSC, gas extraction production and business activities are stably maintained, tethered to the objective of elevating production efficiency and fulfilling responsibilities toward laborers and the State. Currently, the Company employs 15 workers, with monthly incomes ranging from VND 10 - 12 million/person. Beyond generating employment and guaranteeing incomes for laborers, the enterprise also contributes approximately VND 5 billion annually to the state budget.

According to Trần Quốc Thể, Director in charge of Điện Biên Agricultural Mechanics and Construction JSC, amidst a fluctuating market, to maintain production and business, the enterprise must proactively seek opportunities, organize suitable production, and elevate operational efficiency. Coupled with this is ensuring employment and incomes for laborers, and fully executing obligations to the State.

Realities from enterprises demonstrate that the contribution of the private economic sector is not only reflected through revenue and profits but also by directly generating employment and budget revenue sources. Every enterprise maintaining stable operations constitutes an additional resource for local economic development.

In Mường Thanh ward, Duyên Hùng Điện Biên Co., Ltd. is one of the enterprises promoting that role. Operating in the field of construction material production, the Company’s brick factory boasts a capacity of 20 million bricks/year, generating employment for nearly 100 local laborers. Depending on job positions, laborers earn an average income of VND 7.5 - 15 million/month. Not only supplying raw materials serving capital construction, the enterprise also contributes billions of VND to the state budget. In 2026 alone, the company contributed nearly VND 10 billion.

To maintain production and business and generate stable employment for laborers, the enterprise identifies that accompanying and grasping difficulties and bottlenecks from the grassroots holds significant importance. Through this, the enterprise promptly proposes and recommends to administrations and functional agencies solutions to untangle difficulties and improve the business investment climate.

Lưu Công Ruyên, Director of Duyên Hùng Điện Biên Co., Ltd., stated: To stabilize production and business, the enterprise always stays close to reality, listening to the sentiments and aspirations of members and laborers. Based on this, we propose suitable solutions to local administrations, departments, and sectors, contributing to forging a clear, favorable investment climate so enterprises can progressively develop and contribute more to the locality.

From the operations of enterprises, it is evident that when production is maintained and expanded, the generated benefits do not solely belong to the enterprise. Laborers secure added employment and stable incomes; citizens secure added opportunities to participate in production and business activities; and local budgets secure added revenue sources. These are the direct and practical contributions of the private economic sector to socio-economic development. To date, the entire province boasts 1,798 enterprises with total registered capital exceeding VND 45,000 billion. In the first 10 months of 2026, the entire province saw 299 newly established enterprises, an increase of 48% year-on-year. The entire province currently has 412 cooperatives, with a total charter capital of VND 1,115 billion, encompassing 10,165 members and 4,802 laborers. The private economic sector contributes approximately 35% of GRDP and employs roughly 65% of the province’s labor force.

These figures illustrate that the private economic sector increasingly plays a vital role in the local economy. Not only contributing to employment generation and elevating incomes for laborers, this sector also generates budget revenue sources, propels production, and mobilizes additional investment resources for development.

For the private economic sector to develop in the right direction, generating potent momentum for growth, improving the business investment climate and accompanying enterprises are identified as among the critical tasks.

Clearly recognizing the role of the private economy, over the years, the province has paid attention to improving the investment climate, accelerating administrative reform, enhancing dialogue, and untangling difficulties for enterprises; while concurrently encouraging economic sectors to invest in advantaged domains, generating added employment and budget revenue sources. Notably, executing Resolution No.13 of the Executive Board of the provincial Party Committee on private economic development for the 2026-2030 period, with a vision toward 2045, the province effectively maintains the “green lane” mechanism in supporting and untangling difficulties for investors and enterprises.

From enterprises maintaining production, generating employment, and contributing billions of VND to the budget to grassroots-level cooperative economic models, reality proves that the private economic sector is increasingly affirming its position in the local economy.

Against the backdrop of the province continuing to propel economic development, forging a favorable business investment climate, promptly untangling difficulties, and accompanying enterprises will inject added momentum for the private sector to develop. Through this, enterprises not only elevate production capacity and expand their scale but also generate added employment, increase residents’ incomes, supplement budget revenue sources, and contribute to establishing the foundation for sustainable socio-economic development.