With dynamism and flexibility, many enterprises, cooperatives, and household businesses have boldly invested, expanded production, created jobs, and made positive contributions to GRDP growth and the province’s economic restructuring.

Recognizing the private sector as one of the pillars of the local economy, Điện Biên province has issued appropriate mechanisms and policies to create favorable conditions for enterprises to develop production and business effectively. In particular, the province has focused on effectively implementing Resolution No.12-NQ/TU on administrative reform, improving the investment environment, and enhancing provincial competitiveness for the 2021-2025 period, with orientations toward 2030.

At present, the province is handling more than 60 administrative procedures related to business registration. All applications are processed faster than the prescribed time; the average processing time is only 1.2 days (nearly 2 days shorter than regulations), and only 0.85 days for registration amendments (2.15 days shorter).

Thanks to efforts to improve the business environment and implement support and incentive policies effectively, the private sector has made increasingly positive contributions to local socio-economic development. Particularly in agriculture, many enterprises and cooperatives have applied scientific and technical advances to form concentrated production zones. Some cooperatives and companies have developed models for high-quality rice, coffee, macadamia, and safe vegetables under VietGAP standards, thereby enhancing product value while opening new directions for local agriculture.

Hải An Coffee Co., Ltd. has contributed to the local economy by building a 10-hectare raw material area with a yield of 3 tons per hectare and processing 20 tons of coffee powder annually. By applying biological fermentation technology, obtaining HACCP certification, and achieving a 3-star OCOP product rating, the Hải An coffee brand has affirmed its position in the domestic market and reached foreign markets such as Germany, South Korea, and China. With products exported, the company not only increases the value of agricultural produce and promotes Điện Biên’s image but also creates jobs and raises incomes for local workers.

In the field of trade and services, Hoa Ba Education and Trading Service Co., Ltd. is implementing the Hoa Ba Supermarket project in Tuần Giáo, with a total investment of more than VND 40 billion. According to Mr. Nguyễn Chí Ba, the company’s director, the project not only provides a modern shopping space and promotes the province’s OCOP products but also creates jobs for hundreds of local workers once operational, contributing to economic development linked with social security goals.

In recent years, the private economy in the province has grown rapidly in both quantity and quality. By the end of 2025, the province is expected to have over 1,450 enterprises, up 30.03% compared to 2020, with a total registered charter capital of VND 34,000 billion. There will be 370 cooperatives, 1.57 times higher than in 2020, with a total charter capital of over VND 1,020 billion, and 20,000 household businesses with more than VND 2,000 billion in registered capital.

For the 2021-2025 period, total social investment capital is estimated at over VND 95,000 billion, up 88.99% compared to 2016-2020. The investment capital structure has shifted positively: the proportion of non-state budget capital continues to increase, estimated at 54.5% in 2025, up 2.34% compared to 2020. In just the first 6 months of this year, the private economy played a major role, accounting for 62.95% of total development investment capital (up 5.46% year-on-year).

For the 2026-2030 period, Điện Biên Province aims to have over 2,000 effective enterprises, attract more than 50,000 workers, and reach an average income of about VND 12 million per person per month. The private sector is expected to contribute about 40% of total local budget revenue, with an average growth rate of about 11% per year.

To realize these goals, the province will continue to accelerate administrative reform, eliminate at least 30% of unnecessary business conditions, and cut 30% of processing time and compliance costs. All business-related procedures will be conducted online in a transparent and efficient manner. In addition, Điện Biên will study preferential mechanisms to enable small- and medium-sized enterprises, high-tech enterprises, and start-ups to access land and infrastructure in industrial zones and clusters. Accordingly, at least 20 hectares per zone or 5% of infrastructure land will be reserved for these enterprises, with a policy of reducing land rent by 30% in the first five years.

Although challenges remain in terms of capital, scale, infrastructure, and competitiveness, with the companionship and support of authorities, together with the dynamism and creativity of entrepreneurs and household businesses, the private sector of Điện Biên is expected to continue to make breakthroughs in the coming period.