Long An: Private economy as a motor for digital transformation!

Long An: Private economy as a motor for digital transformation!

On June 2, 2025, Long An Province in Vietnam made significant progress in implementing the Central Committee on Private Sector Development Resolution No. 68-NQ/TW. In this region, the private sector is no longer seen as just a supplement, but as a key driver of the economy. In order to promote this development, regular dialogue conferences are held with companies to discuss and solve difficulties and challenges in the local economy.

The provincial government is committed to issuing a variety of resolutions, action plans and support policies aimed at creating favorable conditions for the development of the private sector. A particular focus is on small and medium-sized companies, which are seen as the basis for sustainable economic development.

Support for digital transformation

More and more small companies in Long An are showing great interest in digital transformation and are approaching it proactively. These ambitions are supported by the provincial government, which recognizes the potential of the private sector and offers appropriate assistance in various areas. A forward-looking approach is to build a creative startup ecosystem that promotes innovation and intellectual property.

At the same time, access to private equity investors plays a crucial role in the digitalization of companies. According to a Harvard study that examined the impact of private investment on digital transformation, companies' IT budgets are increasing significantly thanks to private equity (PE). For example, PE-backed companies saw a 13.9% increase in IT spending, particularly in the manufacturing and retail sectors.

Long-term vision and challenges

Long An Province's long-term vision includes sustainable development, innovation, regional connectivity and improving the quality of life of citizens. To achieve these goals, investments in transport infrastructure, clean energy and vocational training are considered strategic priorities.

At the same time, private companies face challenges in areas such as management capacity, finance and technology. It is emphasized that investing in the capacity of local companies is essential for them to become potential leaders in the growth scenario. The province's leaders and entrepreneurs are encouraged to have the determination and courage needed to advance private sector development.

Overall, the role of private investors should not be underestimated. They not only close the digital gap between public and private companies, but also significantly promote growth opportunities through digitalization in various industries. Companies strengthened by PE financing tend to perform better in growth and innovation, making them more competitive.

The challenges of transformation cannot be ignored, but the determination of both business leaders and the government in Long An provides room for optimistic prospects in the development of the private sector.

For more information, visit the articles from Vietnam.vn and the Harvard study on Private investments and digital transformation.