Identifying the barriers of private economic sector development in Dak Lak Province

Abstract

The private economic sector plays an increasingly important role in socio-economic development in Dak Lak province, particularly in capital mobilization, employment creation, production and business expansion, and the promotion of local economic restructuring. However, this sector has yet to fully realize its potential, as its growth remains constrained by multiple barriers. Based on a survey of 395 private enterprises, this study identifies the primary barriers to the development of the private economic sector at present and in the future. The findings show three interrelated groups of barriers: (i) resource-access barriers; (ii) institutional-policy and business-environment barriers; and (iii) firm-internal capability barriers. To ensure the private economic sector can serve as a core economic driver following the Politburo's Resolution No. 68-NQ/TW, this research provides specific strategies to clear resource constraints, upgrade the local business environment, and build the internal strengths of private firms in Dak Lak.