In recent years, the private economic sector in Vietnam has grown in quantity and quality, playing an increasingly important role in a socialist-oriented market economy, contributing to effective socio-economic issues of the country. The private economy has made an important contribution to the gross domestic product, and has continuously increased over the years, specifically increasing from VND 371 trillion in 2005 to VND 2 trillion in 2018 [1]. The GDP contribution rate of the private sector in the 2005-2018 period reached from 40% - 45%, a higher level of contribution than both the state economic sector and the foreign-invested economic sector. However, this economic sector still has certain barriers in the development process. This study focuses on analyzing the difficulties and limitations and proposing solutions to develop the private economic sector in the coming time.