Maintaining Economic Stability

4:34:27 PM | 8/21/2014

Prime Minister Nguyen Tan Dung recently tasked central and local governmental agencies and State-owned enterprises to devise the five-year Socioeconomic Development Plan in the 2016-2020 period. The directive is one of clear orientations for the Vietnamese economy to develop sustainably and make Vietnam a basically industrial country by 2020.
The economy is expected to expand at the average rate of 6.5-7 percent a year and the poverty rate is projected to decrease by 1.5 percent annually in the reporting period. Relevant units were told to beef up the implementation of the Master Plan for Economic Restructuring in order to improve the quality, effectiveness and competitiveness of the national economy and step up economic restructuring, sector restructuring and labour force restructuring towards industrialisation and modernisation.
The Prime Minister also asked for stepping up the realisation of three strategic breakthroughs in the 10-year Socioeconomic Development Strategy in 2011-2020 phase: Improving socialist-oriented market economy institutions, focusing on creating an equal business environment and administrative reform; developing human resources, especially high-quality workforce, renovating the education system comprehensively, and integrating human resource development and scientific and technological application development; and building infrastructure system with priority given to modern traffic system and urban infrastructure .
He also urged concerned units to renovate and improve the investment and business environment, create favourable conditions for business development of all economic sectors, especially private companies, foreign direct investment (FDI) companies, cooperatives and small and medium-sized enterprises (SMEs); ensure equal competition; strengthen the potential and ensure national financial security; boost the healthy development of financial system; stabilise macroeconomic balances; mobilise, attract and effectively use all resources for economic development.
He also demanded related entities to improve human resource quality, develop education and training and boost scientific and technological development; develop culture, society, physical health and sports, raise living standards and spiritual life of the people; develop social security system; focus on sustainable poverty reduction; carry out employment policies and develop labour market; and proactively prevent disease outbreak, improve health care quality, and accelerate healthcare socialisation.
The directive also requires strengthening national security and defence capabilities; stepping up public administration reform and raising the effectiveness and efficiency of State management; consolidating corruption prevention and thrift practising; enhancing the performance of foreign affairs; quickening active international integration; and creating a peaceful, stable environment to build and develop the nation.
The Prime Minister requested relevant units to keep up with resolutions of the Party, the National Assembly and the Government to work out sector development plans and local development plans.
Objectives, orientations, solutions and policies of the five-year Socioeconomic Development Plan from 2016 to 2020 must ensure viability.
He also reminded relevant units to seek opinions from research agencies, unions, producer and consumer associations, communities, donors, domestic and international experts.
The Prime Minister assigned the Ministry of Planning and Investment to coordinate with ministries, branches and localities to formulate socioeconomic development plans from 2016 to 2020 in this August and devise economic growth scenarios in the fourth quarter of 2014.
He also asked central and local governments and State-owned enterprises to build and carry out the five-year socioeconomic development plan in 2016-2020 phase.
This directive also requires strengthening environmental protection and active response to climate change, maintaining national independence and sovereignty, ensuring political security and social order and safety, expanding foreign relations, promoting integration and international cooperation, and uplifting Vietnam's position in the regional and international arena.
Dinh Thanh