The ratio of enterprises to population in Hanoi stood at 1:38, nearly four times the national average at 1:144.

The program will help to address Vietnam’s increased demand for energy and promote inclusive growth by strengthening the enabling environment for the private sector.

A strong business community is an essential component of a prosperous country, said Prime Minister Nguyen Xuan Phuc.

A major proportion of bank loans are provided for the business community, particularly the private sector and individuals.

A growing role of the private sector in the economy would help Vietnam overcome challenges and quickly adapt to international practices, said experts.