CPVCC to issue fresh economic resolution

VGP – The 12th Communist Party of Viet Nam Central Committee (CPVCC) will issue a new resolution on continuously completing the socialist-oriented market economy mechanism by 2020 with a vision towards 2030.

May 05, 2017 2:47 PM GMT+7

Party General Secretary Nguyen Phu Trong stressed that during the process of innovation, national building and protection, the Party always considers economic development as a central mission, focusing on changing economic mindset and the centrally planned, bureaucratic, and subsidized economy towards a socialist-oriented market economy in accordance with different development periods, regarding this as a regular and constant task.

Over the last ten years, the implementation of Resolution 21-NQ/TW, dated January 30, 2008 of the 6th Party Central Committee Plenum on continuing to complete the socialist-oriented market economy mechanism (Resolution 21-NQ/TW) has made substantial contributions to economic growth; helping the country get out of the less-developed status; join the group of middle-income developing countries; safeguard socialist orientations; pursue economic growth and social advancement and equality; ensuring social welfare; unceasingly improving people’s material and spiritual life; ensuring national defense and security.

According to the Party chief, in spite of the achievements, shortcomings and weaknesses are lying ahead, especially slow and unstable economic growth and lack of breakthroughs in mobilization, allocation, and consumption of development resources.

SOEs have yet upheld their role as the key force of the State economy. The collective economy has been renovated and developed slowly. The development of the private sector has yet developed in a fast, sustainable and sound manner. Some markets have been leisurely taken shape and operated poorly with numerous obstacles.

In addition, access to social resources was unequal among different economic subjects. The legal system, mechanisms, policies remained incomplete and asynchronous, with poor quality. There were a lot of shortcomings during the enforcement process. The investment and business environment was definitely unclear with low rate of transparency and stability. Asset ownership rights, especially the rights of capital contribution receivers have yet been enforced adequately. Costs of some essential commodities and services have not followed market principles. International economic integration has not been effective. Trade liberalization and investment in some markets and fields have not kept up with the development trend in some other economies.

Hence, the Party chief tasked the CPVCC to grasp thoroughly the Resolution of the 12th CPVCC Congress; inherit and supplement the 6th CPVCC Resolution (10th tenure) in order to issue a new resolution which will direct the continuous completion of the socialist-oriented market

economy mechanism by 2020 with a vision towards 2030.

Mr. Trong also recommended participants research; make careful discussion; and give comments especially on shortcomings, weaknesses, and reasons.

They were asked to analyze and make appropriate and sound evaluation of goals, directions, orientations, and solutions with a view to perfecting the socialist-oriented market economy mechanism in Viet Nam in the time to come./.

By Kim Anh