Master plan on economic restructuring
15:08 | 26/03/2013

VGP – PM Nguyen Tan Dung on February 19, 2013, signed Decision 339/QD-TTg approving the Master Plan on economic restructuring in association with conversion of the growth model towards improving quality, efficiency and competitiveness during the 2013-2020 period. The following is the Plan’s full content.

I. TARGETS, VIEWPOINT, ORIENTATIONS FOR ECONOMIC RESTRUCTURING

1. Overall target

Economic restructuring is carried out in association with the conversion of the growth model in line with a roadmap with proper steps so as to form an in-depth model of growth by 2020, guarantee growth quality, and improve the economy’s efficiency and competitiveness.

2. Specific targets

a) Perfecting the socialist-orientated market economy, creating a range of sound, sustainable and long-term stimuli, especially tax incentives and other investment-encouraging measures, boosting the market-based distribution and use of social resources in sectors and products of competitive advantages, improving labor productivity, aggregate power of different factors, and competitiveness.

b) Forming and developing a proper economic structure on the basis of improving the development of sectors, fields and economic zones; developing hi-tech and high added value industries and fields which can gradually replace low ones as mainstay economic branches.

c) Toughening step by step internal economic strengths, speeding up international integration, fortifying the nation’s status on the international arena, and maintaining political stability, national security, social order and safety.

3. Viewpoint of economic restructuring

a) Continuing to renew the way of thinking, clearly define the role and functions of the State and the market towards minimizing barriers, encouraging the movement, distribution and use of production elements, especially capital and labor force, in line with market signals. Improving capacity and effectiveness of national administration, highlighting the State’s role in designing and supporting development through economic mechanisms, policies and stimuli while minimizing administrative intervention;

b) Harmoniously settling important and urgent issues and long-term fundamental ones for the sake of sustainable development; prioritizing mid- and long-term targets as well as growth quality; attaching economic growth to inflation curbing, macro-economic stability, social progress and equality, preservation of the nation’s typical traditional cultural values, environment protection, green economic development, social order and safety, and national security and defense;

 c) Bringing into play competitive advantages of all sectors, fields, economic zones and localities; placing importance on and upholding agricultural advantages, pushing up the development of services and tourism; building up an economic structure in which mainstay economic industries play a central role and different models, sectors and lines of business are diversified and adaptable to rapid socio-economic changes at home and abroad towards a green and sustainable economy;

d) Restructuring the economy in association with administrative reforms in order to improve quality of administrative services in all sectors and at all echelons, especially grassroots and local levels, so as to guarantee the central government’s uniform and concentrated guideline while highlighting local governments’ creativity and proactiveness;

đ) Continuing the open-door policy and international integration; mobilizing active involvement of people and different economic sectors, especially the private one, both at home and abroad in order to maximize and fruitfully use resources for socio-economic development.

4. Orientations of restructuring some major fields

a) Maintaining a favorable and stable macroeconomic environment

- Applying monetary policies and their tools in a careful, flexible and effective way; closely attaching these policies to fiscal ones in order to curb inflation and maintain macroeconomic stability and a proper growth rate in conformity with the country’s socio-economic realities in specific periods;

- Tightening fiscal policies for thrift practice; uniformly taking measures to increase transparency, publicity and accountability in State budget collection and spending; guaranteeing the State budget balance in line with mid-term plans and the country’s socio-economic situations; gradually reducing State budget overspending, maintaining a proper rate of public debts, and making the national finance healthy;

- Promoting export, tightly controlling import of unencouraged goods and products which can be made at home; boosting the development of supporting industries and production of domestic consumer goods;

- Further mobilizing more resources for development investments. Competent agencies at all echelons must take the initiative in designing and issuing, or submitting to the authorities for issuing regimes, policies and solutions aimed at creating a favorable environment for luring and effectively using investment capital;

- Tightening price and market control; balancing supplies and demands of primary goods; closely monitoring upheavals on domestic and foreign markets, so as to timely take measures for regulating supply and demand as well as stabilizing the market; consistently realizing the market-based State-regulated management over prices of electricity, coal, petrol and public services in order to curb inflation.

b) Drastically and fruitfully realizing economic restructuring targets

- Restructuring investments, with focus on public ones:

+ Soundly mobilizing resources for development investment so that total social investment accounts for 30%-35% of GDP; maintaining major economic indicators properly, such as savings, investment and consumption, State budget, balance of trade, balance of payments, public debts and national foreign loans;

+ Maintaining an appropriate percentage of State investment, about 35%-40% of total social investment; increasing the annual savings from the State budget for investment; spending about 20%-25% of total budget spending on development investments; renewing the distribution and use of capital, minimizing scattered investments and prodigality while improving efficiency of State investments;

+ Maximizing the scope and opportunities for private investors, especially Vietnamese ones; encouraging and creating favorable conditions for private investments into infrastructure, potential sectors and products of advantages, and spearhead economic zones.

- Restructuring the financial-banking system, with focus on credit organizations

+ In the period of 2013-2015, it is necessary to clean up credit organizations, first focusing on clearing bad debts in the whole system of credit organizations as well as in each and every organization, boosting up main business activities, securing payments and stable and sustainable development, settling overlapped ownership and increasing transparency in operations of credit organizations;

+ Restructuring fundamentally, thoroughly and comprehensively the system of credit organizations so that by 2020 it is possible to develop a multifunctional and modern system which has a structure of diverse ownership, scope and form, and stronger competitiveness, operating safely, effectively and sustainably on the basis of advanced banking technologies and administration and in line with international banking practices and standards in order to better meet the demand for financial and banking services; preventing the risks of systematic bank failures and unsafe credit transactions; assuring full and due payments to depositors; minimizing losses and costs of settling arisen risks within the system of credit organizations;

+ Heightening the dominant role and status of Vietnamese credit organizations in the market, ensuring that State commercial banks and those in which the State occupies the dominant share are really the mainstay in the system of credit organizations. By late 2015, at least one or two State commercial banks or those in which the State holds the dominant share will be established, meeting regional standards in terms of scope, administration, technology and competitiveness;

+ Reviewing, assessing and classifying joint-stock commercial banks, financial companies, finance leasing companies and other credit organizations, first focusing on weak or law-breaking credit organizations; closely monitoring the designing and realizing the approved restructuring plans of credit organizations; consolidating safe institutions and dressing operations of people’s credit funds and micro credit organizations, dealing with weak ones; creating favorable conditions for these organizations to continue their usual performance, development, capacity of administration and safe liquidity; facilitating operations and healthy competition of foreign credit organizations in Viet Nam; encouraging their cooperation and associations with Vietnamese credit organizations in developing products, renewing administration, modernizing banking activities and easing difficulties of Vietnamese credit organizations during their restructuring process.

- Restructuring enterprises, with focus on State-owned corporations and groups

+ Classifying and rearranging State-owned enterprises, centering on main sectors like military industries, fields and industries of natural monopoly, provision of primary goods and services, and some fundamental industries and high technologies of strong pervasiveness; speeding up equitization and diversifying owners of the enterprises in which the State full ownership is unnecessary. Each and every State-owned economic group and corporation must restructure their investment portfolios and lines of business, centering on major lines; accelerating, on market principle, the disinvestment of State capital from minor lines of business, from industries unrelated to main lines of business, and from joint-stock companies in which the State dominant share is unnecessary;

+ Renewing, developing and fully applying modern administrative frame to State-owned economic groups and corporations in accordance with good practices of the market economy; strictly enforcing law, administrative and market discipline, renewing the system of stimuli to encourage and ensure that State-owned enterprises operate under the market regime and join in equal competition like their counterparts from other economic sectors;

+ Continuing the restructuring of private enterprises, improving their quality, efficiency and competitiveness; encouraging the formation and development of powerful private economic groups which can compete at home and abroad.

c) Promoting the restructuring process of production industries and services, readjusting market strategies, increasing the value of domestically-made components, added value and competitiveness of products, enterprises and the economy;

- Continuing to shift the economic structure towards industrialization and modernization; within each and every branch, it is necessary to shift from sub-branches, products or stages of production having low technologies, low productivity and low added value to those of high, clean and environmentally-friendly technologies, high yield and high added value;

- Exploring and exploiting advantages of tropical agriculture; setting up and developing large-scale specialized cultivating areas in the form of farms, family-run farms, hi-tech agricultural zones meeting international standards of food safety and hygiene; associating agricultural production to processing and storing  industries, export, consumption and to the global chain of values, especially for products of advantages and competitiveness, such as coffee, rubber, rice, cat-fish, shrimps, pepper, cashew-nuts, marine products, tropical vegetables and fruits; diversifying the scope and mode of production of goods and categories of goods which have high domestic demand and medium competitiveness (for example, husbandry products and sugar) in line with actual conditions of each specific region;

- Restructuring industrial production in accordance with technical-economic industries, regions and new values so as to increase scientific-technological content and percentage of domestically-made component in each and every products; shifting from processing and assembling to manufacturing and producing in sectors and products of competitive advantages, such as food processing, aquaculture, beverage, garment, footwear and leather products, associating them to the global network of production and the chain of values; developing some prioritized sectors and supporting industries like petro-chemistry, electronics and information technology, metallurgy, manufacturing engineering, green industries and recycled energy, automobile spare parts, and agricultural machinery in order to improve and raise the development level of the economy;

- Diversifying services and raising the development level of service sectors; developing service sectors and products of competitive advantages, such as commercial services, construction services, hotels, restaurants, tourism, telecommunication, finance-banking, logistics, education and training, health care, and agricultural production services; at the same time, forming some tourism service centers with high-quality products imbued with national cultural identities, which can compete in the region and the world;

- Further diversifying consumption markets at home and abroad; placing importance on and developing domestic markets while enhancing trade promotion and opening new markets (India, South Asian countries, Africa, the Middle East, and Latin America); exploring and making full use of all chances in major and strategic export markets (the US, Japan, China, EU, ASEAN, Australia); fruitfully exploiting traditional markets (Russia and East Europe).

d) Further restructuring, building and developing a proper structure of economic zones

- Highlighting potential and advantages of each and every zone through long-term visions in order to re-allocate production industries and services reasonably, creating differences in economic structure among localities and regions;

- Further enhancing coordination, complement and connectivity among localities in a region and between different regions for joint development, stopping overlapped investments among localities within a region;

- Further prioritizing the development of key economic zones, creating the driving force for the development in all localities within the region, other regions and the whole economy; selecting and mobilizing resources for the development of some economic zones and industrial parks in order to establish strong sea-borne economic centers.

II. SOLUTIONS

1. Perfecting socialist-orientated market regime, improving competitiveness of the national business environment

a) The Ministry of Justice, in coordination with ministries, agencies and localities, shall be responsible for:

- Reviewing, proposing revisions and supplementations, perfecting the system of legal documents relating to strategic breakthrough fields in conformity with requirements for socio-economic development in the new stage and in association with higher efficiency and enforcement of these documents;

- Further making and completing the system of laws, focusing on perfecting the socialist-orientated market regime, creating a solid legal foundation for economic restructuring; putting forth the Civil Code (revised), the Criminal Code (revised), and the Law on issuance of legal documents (merged);

- Improving quality of the making process of laws, ordinances and legal documents; increasing and improving quality of the assessment and appraisal of drafts of legal documents; closely controlling and ensuring the uniformity and integration of legal documents;

- Applying uniformly the regime of supervision over law enforcement, in which ministers, heads of ministerial-level agencies and governmental bodies, Chairpersons of provincial-level People’s Committees, within their competenece, are responsible for monitoring, inspecting and supervising the law enforcement.

b) The Ministry of Planning and Investment, in coordination with ministries, agencies and localities, shall be responsible for reviewing, revising and supplementing regimes and policies on business environment in the direction of:

- Lifting barriers, abrogating or revising out-of-date regulations which are unsuitable to the market regime and international economic integration; creating feasible and attractive investment encouraging mechanisms, first incentives on tax and other measures to expand and increase chances of investment and business for the private sector; raising efficiency and quality of national administration in order to improve quality of business environment;

- Further simplifying and streamlining administrative procedures; reducing people and enterprises’ costs of fulfilling administrative procedures and laws;

- Not designing and promulgating regulations on banning or restraining people and enterprises’ business rights due to relevant State management agencies’ weak capacity and poor management, regulations inappropriate to realities and life of the majority of people and enterprises; stopping the issuance of infeasible, unrealizable or uneffective regulations which can harm legitimate interests of people and enterprises.

c) Ministries of Construction, Natural Resources and Environment, Agriculture and Rural Development, within their competence and in coordination with relevant ministries and agencies, shall be responsible for reviewing, amending, supplementing and perfecting mechanisms and policies on healthy and sustainable development of the real estate market through:

- Developing urban parks and real estate projects in conformity with the approved planning scheme and market demands; adopting proper regimes and policies to encourage social housing and upgrade housing conditions for people, first the poor and social policy beneficiaries in cities;

- Planning land areas adjacent to socio-economic infrastructure construction and urban embellishment works and the surrounding areas to facilitate land revocation and raise additional funds for these works, compensations for those whose land is revoked, and the State budget. Prioritizing those whose land is revoked to have land or buy house on the basis of their revoked land areas in line with laws;

- Reviewing and tightly managing the plans on using agricultural lands; managing these plans transparently and openly, improving State management over land use plans; taking sound measures to develop the real estate market and facilitate the transfer of land use rights;

- In the period of 2013-2015, clearing the real estate inventories and adjusting the supplies in line with people’s actual demands for housing, especially social housing; reviewing, assessing and categorizing urban and housing projects; streamlining administrative procedures to shorten the time spent on completing procedures for converting lands and readjusting project structure or flat scale; reducing cost prices of building products in accordance with people’s affordable demands, especially those for social housing.

d) State Bank of Viet Nam, in coordination with relevant ministries and agencies, shall be responsible for:

- Further renewing mechanisms and policies on foreign currencies and gold management; taking synchronous measures to prevent the dollarization of the economy, gradually reducing and stopping the use of foreign currencies and gold as means of payment within Viet Nam’s territories, gathering foreign currencies in credit organizations;

- Carefully liberating capital transactions in line with international commitments, at the same time controlling effectively the flows of foreign currencies in the economy and across the borderlines as well as all risks relating to capital inflows and outflows;

- Tightly managing in a uniform and effective manner monetary markets, especially derivative ones, foreign currency markets and gold markets in order to maximize the mobilization of resources for development investment; guaranteeing that monetary, credit and banking activities are safe, healthy and lawful;

- Renewing the mechanism of allocating the State’s investment credits so as to guarantee fair, equal and transparent access for all investors and enterprises in all economic sectors.

dd) The Ministry of Finance, in coordination with relevant ministries and agencies, shall be responsible for:

- Reviewing, revising, supplementing and perfecting regimes, policies, and legal regulations on finance and State budget in order to showcase openness, transparency and accountability of all State budget users in all sectors and at all echelons;

- Designing and realizing a sound roadmap of reforming policies on infrastructure charges so as to secure the recovery of investment costs and facilitate the mobilization of capital from private and foreign invested sectors in infrastructure projects;

- Restructuring the stock market and relevant financial institutions through restructuring, diversifying and improving quality of goods on the stock market; restructuring investors’ facilities through diversifying these facilities and expanding organized and professional ones; rearranging the trading of securities and insurance by raising financial capacity, bettering service quality and preventing risks; developing the stock market having criteria of listing, transaction, information release, administrative management, and risk management in conformity with common standards and international practices.

e) Ministries, agencies and local government, within their competence and assignment, shall:

- Further open markets for natural monopoly sectors and fields of business or those in which State-owned groups and corporations dominate or hold dominant marketshares; gradually reduce and control the monopoly and dominance of enterprises in these sectors and fields; closely monitor macro-economic changes, speed up the application of market prices in supplying public and infrastructure services;

- Further inherit and uphold outcomes of Project 30 on simplifying administrative procedures; create new breakthroughs in simplifying and streamlining administrative procedures in some State management fields, such as land management and use, investment and construction, customs, tax, advertising, goods transport, export-import, and food hygiene and safety;

- Further perfect and upgrade the national database on enterprises, improve quality, simplify procedures and reduce costs for enterprise registration.

g) Minister, heads of ministerial-level agencies and governmental bodies, Chairpersons of provincial-level People’s Committees will be directly responsible to the Government and the Prime Minister about institutional reform and quality in the sectors, fields and localities of their competence.

2. Raising quality of planning work, attaching strategies to plans, improving efficiency of State management over planning work

a) The Ministry of Planning and Investment, competent ministries and management agencies, within their competence, shall work with relevant ministries, agencies and local governments in:

- Reviewing, revising, supplementing and perfecting legal regulations on planning work; promptly designing and submitting to the National Assembly for promulgation of the Law on Planning; further renewing the process and method of planning in line with realities;

- Continuing to review and perfect the master plan on socio-economic development and plans on sectoral, regional and local developments by increasing quality, effectiveness and connectivity between these plans; specifying targets, orientations and missions of strategies and plans on socio-economic development as well as systematic association between national strategies and plans on socio-economic development and sectoral, regional and local strategies in line with actualities and requirements of socio-economic development in each and every certain period;

- Renewing and increasing connectivity and synchronism between land use plans and urban planning, construction planning, and the planning of land-using sectors so that land use plans must secure proper allocation and effective use of lands in different sectors, fields, regions and administrative units; the planning of construction and land-using sectors and fields must be appropriate to the norms and schedule of land use allocated in the plans; requirements on environment protection must be inserted and closely managed in strategies, plans and projects on socio-economic development;

- Taking sound measures to raise quality of construction work, assure the realization of the master plan on socio-economic development, sectoral, regional and local plans, land use plans and urban planning; increasing openness and transparency in planning work;

- Tightening inspection and supervision of the observation of planning schemes by ministries, agencies and localities, especially in combining regional plans with sectoral plans and the master plan on socio-economic development; minimizing the cases in which the approved planning schemes, especially urban infrastructure plans, must be readjusted; observing the process and procedures on drafting, appraising and approving revisions and supplementations of planning schemes;

- Summing up and reporting the planning work and the realization of planning schemes, timely proposing competent agencies to settle all unsolved issues relating to the management and realization of planning schemes.

b) The Ministry of Transport, in coordination with ministries, agencies and local governments, shall take prime responsibility to review, assess, propose amendments and supplementations, or revise and supplement, within their competence, the transport development planning scheme in line with the Strategy on socio-economic development 2011-2020 approved by the 11th Party Congress and under Resolution 13-NQ/TW of the 4th Plenum of the 11th Party Central Committee on building a synchronous infrastructure system in order to turn Viet Nam into a modern industrialized country by 2020.

c) Ministries, agencies and local governments, within their competence and assignment, shall:

- Review, amend and supplement socio-economic development plans, plans on the development of sectors, fields and products, regional and local plans, and other plans in order to realize orientations of economic restructuring, especially restructuring production and service sectors and fields, in correspondence with each and every region, highlighting local potentials and advantages, attaching production to consumption and sustainable development;

- Review and update land use plans at all echelons to use land resources in the most effective way for socio-economic development; review the implementation of investment projects allocated with land while properly dealing with the projects which are contrary to the planning; revoke or suggest competent agencies for revocation of lands from any investment projects which are not realized or conducted behind schedule according to legal regulations on land and real estate;

- Focus on perfecting and publicizing, in the period of 2013-2015, land use plans, infrastructure development plans, urban and industrial park planning schemes, the planning of sectors, fields and important products which should be prioritized; clear all suspended planning schemes before 2015;

- Make annual reports on actual planning work, publicize all planning schemes, their realization and related issues and submit these documents to the Ministry of Planning and Investment for summary and report to the Prime Minister.

d) Heads of the agencies and organizations which are in charge of approving the planning work, shall:

- Be responsible for planning quality, inspect, supervise and evaluate the realization of planning schemes as stipulated;

- Immediately halt all violations against the approved planning schemes, take measures to deal with or propose competent agencies to have solutions in accordance with legal regulations.

3. Renewing mechanisms and policies on mobilizing, distributing and using investment capital

a) Restructuring public investments:

- The Ministry of Planning and Investment, in coordination with ministries, agencies and local governments and within their competence, shall:

+ Continue to review and perfect laws, mechanisms and policies on public investment management; design and submit for promulgation the Public Investment Law so as to uniformly manage all kinds of State investment capital, including capital from the State budget, governmental bond capital, State investment credit and State investment in enterprises; enhance discipline, transparency and accountability in using State investment capital, tightly controlling public debts within the limits of safety and maintaining national financial security;

+ Realize drastically, consistently and effectively mid-term investment plans, under which State budget capital must be poured into national important projects while an appropriate sum of State budget capital will be spent on public-private partnership projects, as the corresponding capital for ODA and as compensations for site clearance. National important projects of high efficiency and influence on socio-economic development on the regional or interregional scale should be conducted in the forms of PPP, BOT, BT, and BO or through issuing bonds, promoting the mobilization of capital sources and guaranteeing abundant capital for realizing these projects;

+ Not distribute investment capital to the sectors and fields which the private sector can afford and willingly do investment and business, such as commercial services, hotels, restaurants, real estate, building materials, and some other sectors;

+ Design and apply a sound, close and effective process of identifying, appraising, selecting, allocating capital and conducting State invested projects; only select the projects meeting criteria on socio-economic efficiency; allocate abundant capital for important and urgent projects; halt scattered, incomprehensive ununiform and ineffective investments;

+ Openly publicize investment information; increase competence and capacity of the public investment supervising system, encourage and facilitate the public’s supervision over public investment projects and activities; boost the obedience of laws, regimes and policies, raise responsibilities of checking, inspecting and supervising public investments.

- The Ministry of Transport, functioning as the main implementer, in coordination with ministries, agencies and local governments, shall review and select national important traffic projects for priority investment and allocate abundant capital for them so that these projects can be fulfilled as early as possible; in case the capital is not enough as required, it is possible to apply public-private investments (PPP, BT, BOT, and BO) or issue bonds to mobilize investment capital; review, cut or suspend the projects for which the capital cannot be allocated abundantly, otherwise, these projects can be converted into different forms.

- Ministries, agencies and local governments, within their accountability and competence, shall review all investment projects under their respective management, tightly control the scope of each and every project in line with their approved targets, fields and programs; decide the investments only after the projects are selected in conformity with the required process and order of priority, have clear and abundant capital sources.

b) Renewing resource mobilization, incentives, investment encouragement and management, increasing chances of attracting domestic and foreign private investments

The Ministry of Planning and Investment, in coordination with ministries, agencies and local governments and within their competence, shall:

- Identify and publicize the list of feasible infrastructure projects of which the investment capital can be covered; design specific regimes and policies for each and every project in the period of 2013-2015 and the following years in order to attract and mobilize investments from the private sector into infrastructure development under the forms of PPP, BT, BOT, or BO;

- Issue the regime of bidding the rights of exploring and exploiting minerals, auctioning the land use rights, tendering land-using socio-economic development projects, so that minerals, land and natural resources can be used in an economical, effective and sustainable way;

- Specify conditions for investors to receive or rent lands in order to conduct socio-economic development projects; apply specific synchronous sanctions against the cases in which lands are allocated or leased by the State but wasted, speculated, used inappropriately, or put into use behind the schedule. No compensation is granted for lands, land-related properties and investments in case of revoking lands that violate land laws;

- Supplement and adjust the list of encouraged business lines through focusing on prioritized lines which are already identified in line with orientations of shifting sectoral and sub-sectoral structures; provide same investment incentives to both new investment projects and the expansion and upgradation projects in encouraged lines;

- Introduce incentives and encouragement to investments on a large scale, with various tools and forms to promote, support and attract high-quality investors, so as to develop prioritized industries. All investment incentives must be bound to clear targets, deadlines and conditions.

c) Enhancing State management over investment

The Ministry of Planning and Investment, other ministries, agencies and local governments, within their competence, shall:

- Only approve and license the construction projects which can fully meet requirements (location and land-use scope appropriate to the land-use planning, urban construction and development planning, and technical infrastructure planning; satisfying requirements of environment protection under the law; bringing about socio-economic efficiency). If the land area planned for industrial development cannot meet the investor’s demand, the allocation of land will be prioritized to the industries and sectors which are encouraged;

- Set up a sound and one-stop-shop process in dealing with administrative procedures for investment and construction, from approving the investment policy, assessing environmental impacts, appraising and approving investment projects, negotiating for land allocation and land lease to licensing construction; apply one-stop-shop services in fulfilling administrative procedures;

- Increase competence, capacity and supervision of ministries and central-level agencies in charge of managing construction investments, so that all approved projects must satisfy all criteria, be conducted on schedule and bring about socio-economic effectiveness; enhance the publication of information and raise accountability of relevant State management agencies in charge of investment and related issues.

d) Improving the efficiency of State management and ensuring the quality of foreign-funded projects

The Ministry of Planning and Investment, together with other Ministries, agencies and localities, based on their assigned functions and tasks, shall:

- Build up and implement strategies for mobilizing and promoting foreign direct investment in prioritized areas to speed up the process of economic restructuring and transformation.

- Set up specific norms to evaluate, verify and select foreign investors and foreign-funded investment projects in order to achieve the targets of: boosting technological transfer, renovating and improving technology capacity, replenishing foreign reserves to cover expense of projects, contributing to narrowing trade deficit towards balancing trade; properly and effectively using natural resources and protecting the environment; increasing domestic value-added proportion, etc.

- Design and implement specific and flexible packages of preferential and assistance solutions through negotiations and agreements with multi-national corporations to attract their investment capital into high-tech and high value-added sectors, and develop a production network and domestic supply chain in connection with production activities of multinational corporations.

- Renovate management system, and foreign investment mobilization and promotion activities; enhance the effectiveness and efficiency of supervision of post-registration or approved investment realization. Consolidate supervision, monitoring and management of foreign direct investment projects through solutions as follows:

+ Maintaining regular contacts with investors to timely identify obstacles and difficulties facing them during the investment process. Investment promotion agencies must act as Points of Single Contact which is responsible for coordinating with other relevant agencies to put forwards solutions to remove the obstacles and difficulties or provide prompt support for the investors.

+ Enhancing capacity and developing a national unified information system for foreign investment.

+ Regularly and timely monitoring and detecting the misuse or inefficient use of investment incentives, especially land and infrastructure, at foreign direct investment projects; timely revoking and transferring resources to projects operating more efficiently; periodically assessing the attraction and efficiency of foreign investment.

+ Improving the capacity of managing and realizing solutions to counter transfer pricing right from the start of the projects and works.

4. Restructuring credit organizations, focusing on commercial banks

a) The State Bank of Viet Nam shall take prime responsibility to coordinate with Ministries, agencies and localities:

- To fully, consistently and effectively implement solutions defined at  Decision No. 254/QD-TTg dated March 1, 2012 of the Prime Minister regarding the approval of Project “restructuring credit organization system in the 2011-2015 period.”

- To direct and implement solutions within their assigned competence or in line with legal regulations to control and gradually reduce non-performing loans as required and effectively supervising the establishment and use of contingency funds, profits and equity capital to deal with non-performing loans in each credit organization, etc.

- To ask credit organizations to quickly develop and submit restructuring plans suitable for each’s specific operation; to direct and supervise credit organizations in realizing their restructuring plans effectively while ensuring the targets and orientations of the Project “restructuring credit organization system in the 2011-2015 period” are achieved.

- To gradually apply principles and criteria for evaluating banks in accordance with international practices. To focus on addressing non-performing loans, intensifying supervision and control over non-performing loans in order to improve the credit quality and minimize credit risks. To assess and identify the real status of non-performing loans owed by credit organization system and each credit organization, thereby designing an overall plan for bad debt settlement to cleanse up and restructure the operations of credit organizations in a healthy and efficient manner. To strive to lower commercial banks’ non-performing loans down to below 3% of total credit balance by 2015 (in accordance with debt classification and accounting standards of Viet Nam).

- To evaluate and fully specify the real cross-ownership status in commercial banks and financial organizations; to implement solutions to eliminate and prevent impacts stemming from the negative swaying and violation of legal regulations by stockholders and groups of stockholders during the course of mobilization, allocation and use of bank credits; to reduce acts of grasping, cornering, and controlling joint-stock commercial banks that impose risks to each bank and the whole banking system.

- To enhance management and issuance of operation licenses for and network expansion of commercial banks; to continue to perfect mechanisms and policies on managing, inspecting and supervising banking operations.

- To encourage, create possible conditions and ensure the pursuit and practice of banking governance standards, especially risk management at credit organizations. These standards shall suit international standards and real conditions in Viet Nam.

b) The Ministry of Finance shall be responsible for coordinating with other relevant Ministries and agencies:

- To speed up the restructuring process and improve the operation effectiveness of the securities and insurance markets through restructuring and diversifying products and improving product quality; to restructure investors; to re-arrange and improve the business organization capacity; to ensure information transparency and announcement are standardized.

- To implement proper solutions to remove difficulties and speed up capital mobilization through capital and securities markets.

- To implement solutions to protect small investors while enhancing the effectiveness of sanctions to ensure legal regulation observance in the securities market.

5. Restructuring State-owned enterprises, especially groups and corporations; improving the quality of private enterprises

a) Strongly and consistently implementing the restructuring of State-owned enterprises

- The Ministry of Finance shall be responsible for coordinating with other Ministries, agencies and localities:

+ To hasten Ministries, agencies, localities, corporations and groups to fully realize Decision 929/QD-TTg dated July 17, 2012 of the Prime Minister on approving the Master Plan for restructuring State-owned enterprises, especially economic groups and corporations in the 2011-2015 period.

+ To publicize general information regarding investment activities of the State ownership representatives and operations of State-owned enterprises every year from 2013 on the websites of the Ministry of Finance, and other relevant Ministries, agencies and localities.

+ To develop an annual Report on “Real situation of using, protecting and developing State capital and State-owned properties in enterprises”, then submit them to the Government, the National Assembly and organize the publication from 2013 in accordance with the Enterprise Law.

- Ministries, agencies and localities, based on their assigned functions and obligations, shall fully and strictly implement Decision No. 929/QD-TTg dated July 17, 2012 of the Prime Minister approving the Project “restructuring State-owned enterprises, focusing on economic corporations and groups in the 2011-2015 period,” Decision No. 704/QD-TTg dated June 11, 2012 of the Prime Minister approving the Project on renovating market-based corporate administration.

- Corporations, groups and other State-owned enterprise, regarding their specific requirements and conditions, shall be proactive in designing and realizing their own restructuring plans in order to raise the efficiency and productivity of the use of capital and properties as well as the competitiveness of businesses and products in the following aspects:

+ Restructuring business and investment lines, focusing on key domains that they have competitive advantages.

+ Restructuring capital and properties, consolidating and enhancing corporate financial sustainability, effectively coping with adverse market changes.

+ Restructuring and renewing production processes, renovating and diversifying products, developing product brands.

+ Restructuring, renovating management organization, renovating and strengthening the efficiency of internal administration.

+ Restructuring markets while firmly maintaining competitive edge in traditional markets, and at the same time developing new ones and taking full advantage of the domestic market.

+ Training and developing human resources in favor of restructuring.

b) Realizing national programs on developing and improving the quality of private enterprises

- The Ministry of Planning and Investment, and other Ministries, agencies and localities, based on their assigned functions and obligations, shall enhance instructions to ensure effective implementation of national development programs to improve the quality of private enterprises, including: the Program on supporting the renovation and improvement of technological capacity for small and medium-sized enterprises; the program on training and improving management capacity for business owners and managers; the Program on supporting the improvement of corporate administration efficiency; the Program on supporting the quality improvement of products (through services to disseminate, introduce and instruct the application of quality standards and requirements, testing, appraisal and product quality certification services…); the Program on supporting the connectivity between businesses, universities, research institutes, organizations providing business development services for small and medium-sized enterprises, etc.

- Ministries, agencies and localties shall enhance directions to ensure effective implementation of the Campaign “Vietnamese people prioritize using made-in-Viet Nam goods”; raise the public’s sense of consumption of made-in-Vietnam goods and support small and medium-sized enterprises in commodity consumption.

c) Renovating corporate development model

To gradually renovate and transform the corporate development model based on the pillars: market and target products, science and technology, human resources, capital and land.

6. Effectively implementing programs to synchronously support the development of interdisciplinary production clusters; stepping up structural shift, improving the efficiency of connectivity between economic sectors, fields, and regions.

a) Effectively implementing synchronous programs to support the development of inter-sector production clusters:

Ministries, agencies and localities, upon their assigned functions and obligations, shall:

- Implement synchronous programs to support the inter-sector development of production clusters for priority products, following the centralized and unified instructions on objectives, resources, mechanisms and methods of implementation, evaluation, assessment, supplementation and adjustment, etc issued by the Central level in order to increase scientific and technological content, domestic value and competitiveness of these products.

- Adopt proper mechanisms and policies, especially tax incentives and other support solutions to boost the development of production network and supply chain for specific priority products.

- Synchronously implement policy solutions in the direction of coordinating and combining relevant policies to assist necessary stages to ensure the combination of all stages of the production chain and stakeholders, domestic and foreign-funded enterprises, domestic production and global production network and supply chain; focusing on: administrative procedure reform and streamlining; assistance to research, development and transfer of technology; investment encouragement and promotion; trade promotion and export support, consumption; infrastructure development, especially specialized infrastructure and infrastructure surrounding industrial parks; market information collection and provision services; support for occupational capacity, improvement of workforce quality in accordance with requirements of each stage of production chain; development and application of technical norms, quality and environmental standards in each sector in line with international practice; provision of services regarding the verification, evaluation and certification of standards to make efficient connections of production stages in the value chain; provision of new product testing and experimenting services, etc.

- Implement diverse and flexible support measures that match specific requirements of each unit of production network and interests of relevant stakeholders; effectively connect upstream and downstream products to create a production-to-dinner table value supply chain.

- Collaborate and mainstream sectoral development policies with those for regional development; formulate connectivity among localities in the same region through sectoral connectivity.

b) Beefing up structural shift, improving the efficiency and connectivity among economic branches, sectors and regions

Ministries, agencies and localities, upon their assigned functions and obligations, shall:

- Review and implement policies and mechanisms to accelerate the development of each sector, each region, and sectoral and regional connectivity.

- Focus on directing the restructuring of production, with priority given to the development of products that turn out high added value, use high-technology, IT, and clean technology, save energy and protect the environment.

- Speed up the development of agricultural, forestry, and seafood processing, auxiliary industries, and high value-added industries.

- Implement synchronous measures to attract investment into high value-added fields, high technology, and sector with comparative advantages.

- Continue to effectively realize the Overall strategy for service sector development; encourage investment in developing the sectors with high advantages and added value like tourism, telecommunication, IT, aviation, finance, banking, distribution, logistics, etc.

- Thoroughly review and implement appropriate solutions to raise the efficiency of industrial parks, processing zones and high-tech parks.

7. Developing agricultural production by expanding  scale, modernizing, and improving quality and added value sustainably in combination with building new rural areas.

The Ministries: Agriculture and Rural Development, Natural Resources and Environment, and other Ministries, agencies, localities, in accordance with their assigned functions and tasks shall:

- Review, amend, supplement or propose amendments and supplements, in accordance with their jurisdiction, the land use planning and agricultural production planning, regarding the promotion of product and region advantages; maintain 3.8 million hectares of land for rice planting to ensure national food security in either short or long terms; ensure effective implementation of green development strategies and effective response to climate change; eliminate suspended projects, complete and improve the quality of state management to ensure effective and sustainable use of land, natural resources and minerals.

- Review and evaluate forest planning, maintain reasonable watershed area, specially-purposed forests, innovate mechanisms and organization for forest management in the direction of improving the management autonomy of households and businesses, turn the remaining forest area into concentrated material forests, develop and exploit forests effectively and sustainably in order to improve incomes and lives of forestry workers.

- Review, plan and manage breeding areas for environmental and food safety; investigate fishing grounds, analyze sources and reserves of marine products, monitor fishing volume, protect resources and the environment.

- Reasonably increase the proportion of the State's capital budget designed for agriculture and rural development; develop agricultural promotion services and training for livelihood development to improve the living standard of residents and communities; encourage initiatives and the participation of all economic components in rural development. Prioritize investment for developing agro-processing industry (including agriculture, forestry, fisheries) in the direction of modernization and production of completely-processed product; gradually limit and reduce the export of agricultural produce.

- Promote and create favorable conditions, in terms of institution and use of various diverse and flexible forms, for farmers and households to contribute their land use rights (which can keep intact the farmers’ legal status regarding property rights to the land they have contributed), along with enterprises, in order to gather, accumulate land for organizing large-scale agricultural production with modern techniques and a production process that meet the quality standards of food hygiene and safety in accordance with international standards.

- Develop and diversify the forms of providing agricultural promotion services to help farmers change and improve the quality of plant varieties and animal breeds, improve product quality, reduce post-harvest losses, preserve and sell products.

- Support farmers in connecting and getting access to research and technology transfer services, connecting with processors and distributors, thus gradually forming a production networks and a supply chain connected to the manufacturing, processing, distributing and selling products; connect industries serving agriculture with agricultural production, connect “the managers, scientists, businesses and farmers” in one network to produce a number of major agricultural products in the same area.

- Accelerate the implementation of the new rural building program, continue to improve the living condition in rural areas through:

+ Continue to prioritize rural infrastructure development, connecting villages with towns, provincial centers and cities.

+ Develop small urban areas and residential areas with similar living structure in large urban areas.

+ Renovate and develop, in scale and quality, healthcare services at the grassroots level, especially at the district level; popularize practical outcomes of grassroots healthcare services to restore residents' trust in using it.

+ Provide centralized and uniform support for and investment in (facilities, vocational training equipment, programs, curriculums, the training of teachers and vocational training management staff, etc…) for key occupations that have been planned for vocational colleges and vocational intermediate schools.

+ Preserve, restore and promote the value of cultural heritages, convert villages with sufficient conditions into tourist destinations, connect tours within a region and with neighboring regions.

+ Solve environmental pollution caused by backward production methods in handicraft villages; effectively handle environmental pollution caused by garbage and waste discharged from crop and livestock farming activities in rural areas.

8. Promoting advantages of each region and converting and forming regional economic structures that are reasonable and diversified in terms of branches and trades and development levels

a) The Ministry of Planning and Investment, other Ministries and branch and industry management agencies, and the People's Committees of provinces and centrally-governed cities, in accordance with their assigned tasks and functions, shall:

- Focus investment on completing uniform infrastructure; pro-actively promote investment and choose quality investors and investment projects for high-tech zone development in major cities, firstly Ha Noi, Da Nang and Ho Chi Minh city.

- Prioritize investments for the development of coastal economic zones, including: Chu Lai - Dung Quat Economic Zone, Dinh Vu - Cat Hai Economic Zone in Hai Phong city; Nghi Son Economic Zone in Thanh Hoa province; Vung Ang Economic Zone in Ha Tinh province; economic zone of Phu Quoc island and Nam An Thoi island cluster in Kien Giang province; at same time, consider and focus on developing a number of border-gate economic zones.

- Review and evaluate the Planning on the development of industrial parks nationwide in accordance with Decision No. 1107/QD-TTg dated August 21, 2006 of the Prime Minister approving the Planning on the development of industrial parks in Viet Nam up to 2015 and orientation toward 2020, to make appropriate supplements and amendments in the direction of:

+ Constructing and developing specific industrial areas to ensure the compliance and consistency with the socio-economic development orientation of each region and of the whole nation; setting clearly the objectives and orientation of industry and product layout, ensuring the compliance with land use plans and planning, residential area planning, resource use planning, labor cost and environmental protection requirements of each area.

+ Industrial zones are self-sufficient in organic supply or binding with residential areas, cities, and urban areas with modern living conditions, diverse healthcare, education, housing and entertainment services, etc... ensuring the service of employees.

+ Industrial zones in Ha Noi, Ho Chi Minh City and Da Nang focus on attracting investment projects that use high technology, absorb intensive capital, have a high degree of investment efficiency per unit of land and labor and produce minor environmental pollution. A number of existing industrial zones will be considered to converted into specialized complete industrial zones connecting to supporting industry networks that supply upstream and midstream products to develop a number of priority sectors in key economic regions; investment projects and low-tech, labor-intensive manufacturing plants will be gradually moved to other areas or less developed local areas in the economic regions.

- Building reasonable institutions and mechanisms for the development of key economic regions as well as implementing national programs for the development of priority sectors, and programs to support and improve the quality of businesses. Strengthening the direction and coordination of key economic regions, ensuring the advantages of each region, and each locality in each region are promoted and the links between fields and sectors in each region, each locality in the regions and between the key economic regions are strengthened.

b) The People's Committees of provinces and centrally-governed cities shall:

- Be proactive and creative in local socio-economic development on the basis of promoting special advantages of each locality and each region; at same time, establish socio-economic development coordination mechanism for localities, eliminate unfair competition, economic structure duplication and copying/aping investment.

- Coordinate and cooperate between localities in the regions in an effective manner with appropriate forms and content such as: Coordinating and collaborating in researching to determine the comparative advantages and competitive advantages of each locality and the whole economic region; exchanging information and coordinating in researching, developing and implementing land use planning, infrastructure and human resources development planning, local socio-economic development plans and planning, economic zone and industrial zone development planning, and other development planning; exchanging information and coordinating in the evaluation and selection of important investment projects, projects that have impacts on other localities in the region; cooperating and coordinating in the construction and development of economic zone-scaled production networks.

- Obtain opinions of other localities in the region about the draft planning for socio-economic development and other development planning and written opinions of relevant Ministries and agencies about the coordination for regional economic development prior to submission to the Prime Minister for approval, when the People's Committees of provinces and centrally-governed cities are from the same economic region.

- Organize biannual or irregular briefings to inform and share information on the socio-economic development of the region, arising issues to be addressed and the capabilities, mechanisms and tools for collaboration to promote the economic development of each locality in particular and of the region as a whole.

- Continue to implement development assistance programs directly using the state budget for ethnic minority areas, border areas and islands.

- Strengthen and enhance the role, jurisdiction and specialized competence of the Steering Committee for regional development as an agency that coordinates the development of economic regions.

9. Improving the quality of human resources in favor of economic restructuring and growth model renovation

a) Enhancing market-based vocational training and training at request of specific employees

The Ministry of Labor-Invalids and Social Affairs shall be responsible for coordinating with relevant Ministries and agencies:

- To develop national vocational skill framework, national vocational skill standards for popular occupations; to issue the list of jobs requiring compulsory training; promulgate policies and mechanisms and provide specific instructions for vocational training facilities and organizations to follow up in accordance with the national vocational skill standards; to receive and transfer sets of vocational skills, training programs and technologies from advanced countries in the region and the world for key occupations of regional and international importance.

- Organize biding, place orders or assign duties to vocational training facilities regardless of ownership models to meet human resource needs of businesses; prioritize placing orders for occupations with hard physical labor, toxic and hard-to-fill occupations, occupations with high training costs and occupations to supply human resources for priority industries and supporting industries. Encourage and create favorable conditions for businesses and training organizations to cooperate and support each other in improving skills for businesses’ employees.

- Implement the allocation of State budget to public vocational training activities under the set roadmap and based on outputs and requirements of trainees and employers, etc. Expand the application scope of the State-funded mechanisms governing order placing and duty assignment to vocational training facilities (regardless of forms of ownership); study the conversion of some of public vocational training establishments into public service providers that are self-reliant, self-responsible, and financially self-accounting, and operate in the form of a social enterprise.

- Design and operate labor market information system and national database on the labor market, improve the capacity of human resource forecasting and planning in response to market signals.

- Continue to expand new training and re-training to raise the trained rate to over 70% by 2020; encourage the private sector and businesses to involve in vocational training; encourage businesses, especially large-scale ones, to train laborers by themselves or for their partners, customers and other related businesses.

b) Supporting the training of high-quality human resources, especially technicians, IT professionals and managers for priority development areas

The Ministry of Labor-Invalids and Social Affairs shall be responsible for coordinating with relevant Ministries and agencies:

- To periodically retrain, update and improve the quality, capacity and knowledge of macro-economic management for key positions, particularly the heads of agencies of the Party and State, mass organizations and businesses.

- To implement international standard training to form a contingent of high-quality workers who meet the requirements of domestic and foreign businesses and assume and replace step by step the positions being held by foreign experts.

- To select and send excellent students to graduate and postgraduate courses in integrated programs at the world’s top universities and research establishments, contributing to raising the quality of human resources for priority development areas.

- To support enterprises and research institutes to train and improve the skills of laborers (including experts, technicians and managers at all levels) based on the real production requirements of priority development areas and sectors.

c) Increasing the quantity and quality of vocational training for agriculture and rural development

The Ministry of Labor, Invalids and Social Affairs and the Ministry of Agriculture and Rural Development, based on their assigned functions and tasks, shall be responsible for coordinating with other Ministries, agencies and localities:

- To expand forms of vocational training in combination with the transfer of new technologies, techniques and production process to farmers; to multi-ply good examples in vocational training for rural laborers, craft villages, specialized production regions, to create job opportunities for rural laborers.

- Encourage and support diverse forms of coordination among big training establishments in Ha Noi, Ho Chi Minh City, Da Nang, Hue city, Can Tho city and other localities in training and improving the quality of workforce in rural areas, especially vocational skills as required by enterprises.

d) Renovating education management, improving the quality of tertiary education

The Ministry of Education and Training shall be responsible for coordinating with relevant Ministries and localities:

- To renovate financial mechanisms for tertiary education in the direction of improving State-funded investment while enhancing the mobilization of social resources for tertiary education.

- To expand and improve the self-reliance and self-responsibility of universities in entrance examinations, and designing contents, program and teaching methods, etc...

- To develop and effectively implement the regulations specifying requirements, conditions and norms of education quality which are applicable to all schools across the country.

- To improve the capacity and effectiveness of inspection, evaluation and supervision of the Ministry of Education and Training and relevant agencies over the quality of tertiary education services.

- To make independent assessment on the prestige, quality and rankings of universities, considering them one of the important norms for the allocation of State investment for universities.

dd) To focus on synchronously and effectively implementing human resource development strategy and planning

Ministries, agencies and localities, based on their assigned functions and tasks, shall fully and consistently implement the Strategy for Human Resource Development in the 2011-2020 period in accordance with Decision 579/QD-TTg dated April 19, 2011 of the Prime Minister and the Planning scheme for Viet Nam human resource development in 2011-2020 in accordance with the Prime Minister’s Decision 1216/QD-TTg dated July 22, 2011.

10. Developing science and technology, speeding up economic restructuring in combination with growth model renovation

a) The Ministry of Science and Technology shall take prime responsibility to work with relevant Ministries and agencies:

- To adopt proper mechanisms and policies to promote the role of science and technology as the lever of the economic restructuring and growth model renovation; to mainstream the objectives and tasks of science and technology into the socio-economic development objectives and tasks of every sector and level; to make the plan for scientific and technological applications an integral part of planning schemes and development plans of sectors, localities, State-owned corporations and groups.

- To drastically and comprehensively renovate the structural organization, management mechanism, and operation mechanism of science and technology, focusing on plan building, budget estimates, investment and financial mechanism. To accelerate the implementation of the State’s order-placing mechanism for scientific and technological tasks while applying quotas for expenses and purchase of scientific and technological products, and mobilizing and encouraging social investment in science and technology.

- To encourage and assist research and development activities at businesses, especially large-scale ones, encourage businesses to invest in, support and sponsor scientific and technological activities; to press State-owned enterprises to establish research and development funds to directly serve their technology development, application, and transfer requirements.

- To formulate policies to encourage and well treat scientists and technologists; to offer proper incentives to scientists and technologists who are assigned to perform national science and technology duties, leading experts, and young and talented scientists and technologists. To apply the mechanism of hiring domestic and foreign experts through State budget; to mobilize and send highly-qualified scientists and technologists to work in key science and technology organizations. To encourage and support scientists and technologists to commercialize their research results, establish science and technology enterprises, and cooperate with businesses and production households in technology transfer and renewal.

- To enhance international cooperation in science and technology, attract foreign investment in science and technology development in Viet Nam. To pilot the construction of progressive foreign-funded research institutes. To beef up communication activities to raise people’s awareness of the role of science and technology in economic restructuring and growth model renovation.

- To design and submit to the Government for approval a Plan of Action for implementing the Resolution 20-NQ/TW on science and technology development in favor of modernization and industrialization in the context of socialist-oriented market economy and international integration, issued at the 6th Plenary session of the 11th Party Central Committee.

b) The Ministries of Finance, Planning and Investment, Science and Technology, other Ministries, agencies and localities, based on their assigned functions and tasks, shall prioritize allocating resources to science and technology development, firstly, to projects and programs on national science and technology and on improving national scientific and technological capacity; develop some strong scientific and technological organizations, improve the effectiveness of key laboratories, national and regional technology exchange floors; focus on studying and developing base and product technologies; prioritize applying new scientific and technological advances to national defense and security, etc....

III. ORGANIZATION OF IMPLEMENTATION

1. The Ministers and Heads of Ministerial-level agencies, Governmental bodies, Chairmen of provinces and centrally-governed cities shall have to:

a) Quickly draft and implement the action plans for restructuring designed for sectors, branches or territorial areas under their assigned competence right in the first half of 2013; in which the economic restructuring programs and projects must fully cover such contents as: objectives, tasks, orientations, specific contents and solutions, roadmaps, in-charge units, and relevant issues; at the same time making review to supplement necessary tasks to the programs on legal building and related working programs.

b) Fully grasp, strictly observe and consistently show objectives, stances, contents, risks and challenges against the restructuring work in legal documents and policies they were assigned to compile as well as in the specific restructuring programs of each Ministries, agencies and localities. To be proactive in directing the study, composition, and approval of, or submitting to competent agencies for approval of, the projects and legal documents prepared by relevant Ministries, agencies and localities.

c) Establish the Restructuring Steering Committees which shall be led by the Ministers, Heads of agencies, and Chairmen of the People’s Committees of provinces and centrally-governed cities. The Steering Committee is responsible for assisting the Party Committee and local authorities in directing, monitoring and supervising the implementation of the restructuring process in each Ministry, agency and locality in accordance with its assigned functions and tasks.

d) Focus on enhancing coordination among Ministries, agencies and localities while closely collaborating with the Party’s organs, the State, the Viet Nam Fatherland Front, and mass organizations to create consensus and  aggregate strength for restructuring the economy and transforming growth models; conduct communications programs and mobilize all social strata to unify and actively participate in realizing the orientations and solutions to economic restructuring and growth model transformation; strengthen the examination and supervision of economic restructuring and growth model renovation process of every sector at every level;  heighten the sense of community while making clear functions, tasks, responsibilities and power of each agency, organization or individual in deploying the implementation work.

dd) Regularly monitor and supervise the progress and outcomes of the economic restructuring within their assigned competence. Quarterly check the implementation of the economic restructuring and prepare reports on the outcomes achieved in each branch and sector and by each locality and then send them to the Ministry of Planning and Investment to summarize before reporting to the Prime Minister. 

2. The Ministry of Planning and Investment, serving as the advisory body and coordinator for the Government, shall be responsible for:

a) Assisting the Government and the Prime Minister in organizing the implementation of the Master Plan for Economic Restructuring, inspecting and evaluating the Plan progress and reporting regime.

b) Coordinating with relevant Ministries and agencies to guide the implementation of the Master Plan; designing norms for supervision of economic growth according to new model. Inspecting, supervising and assessing the economic restructuring implementation at sectors, fields, localities, groups, and corporations; timely putting forth proposals to Ministries, agencies and localities or recommending measures for competent agencies to deal with emerging difficulties and obstacles.

c) Summarizing and reporting to the Government, the Prime Minister and competent agencies the progress of the implementation of the Master Plan for Economic Restructuring in combination with growth model transformation towards higher quality, efficiency and competitive edge of the economy in the 2012-2020 period and proposing amendments and supplements to the Master Plan if necessary.

3. The Ministry of Information and Communication, the Voice of Viet Nam, the Viet Nam Television, and central and local mass media agencies, and localities shall proactively coordinate with other Ministries, agencies, the Party’s organs, local authorities, and mass organizations in regularly providing information on mechanisms, policies, progress and outcomes of the economic restructuring, especially creative and highly effective measures and methods.

4. The Office of Government, the Ministry of Justice, based on their assigned functions and obligations, shall coordinate with each other in supervising and monitoring the schedule of promulgating legal documents for the economic restructuring in combination with growth model renovation; be responsible for verifying the draft documents and projects to make sure that they are compatible to the objectives, stances, orientations and solutions for economic restructuring as said in this Decision.

5. The Government Inspectorate, the Ministry of Public Security, law enforcement agencies, based on their assigned functions and tasks, shall be responsible for keeping abreast with any arising developments to promptly detect, strictly punish, and prevent law violations during the economic restructuring and growth model renovation process./.

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