Over the past three years, the private sector always contributed more than 40 percent of GDP, which helps create jobs and attracts 83 percent of the workforce. 43 percent of Vietnam's total social investment also came from the private sector.
More than half of 10,000 firms under the management of Ho Chi Minh City Union of Business Association are family businesses, which were established when the Law on Enterprises and the Law on Companies were introduced in 1990.
However, on a global scale, more than 70 percent of family enterprises struggle to maintain the business during the second generation, while 90 percent cannot extend to the third generation.
