Vietnam Urged to Speed Up Transition to Market Economy

Vietnam should take more efforts to improve state management reforms to accelerate its transition to a market economy, economists and analysts said at a seminar in Hanoi on January 18.

 

The seminar was jointly held by the Central Institute of Economic Management (CIEM) under the Ministry of Planning and Investment and the Swedish International Development Agency (SIDA).

 

It aims to forward a research cooperation program on issues relating to economic institutions, and discuss preparations for policy consultancy for the Party and State in implementing State management reforms in the 2011-2020 period.

 

CIEM Director Le Xuan Ba called on the government to make greater efforts to improve the efficiency and effectiveness of the State management system in order to obtain sustainable development achievements.

 

Dr. Haggroth from Sweden said that in the transition to a market economy, each country must draw an overall picture of the market economy and get a true understanding of its nature.

 

The development of Vietnam’s economy has helped improve people’s living standards, he said, adding that during the transition, Vietnam should consider the relationship between the State and the market, especially the scope of the State-owned sector in the relation to the private sector and the management of State-owned enterprises.

 

Economist Pham Chi Lan said to raise its role in the market economy, the State should gradually shift public ownership to private ownership and establish good control mechanisms.