Politburo issues Resolution on promoting resources for economic development

The Resolution lists three types of resources

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The resolution aims to raise the quality of management, exploitation, mobilization, and using of resources of the economy in favor of a fast and sustainable economic growth; implement social advancement  and equality; improve people’s living standards; safeguard national defense and security; early convert Viet Nam into an industrialized country towards modernity; become an industrialized country towards socialism. 

Consolidating talent-based career system

Regarding human resources, the resolution states that by 2025, the agro-forestry-fishery sector will employ 33% of total labor force. The resolution targets to resolve the job imbalance of supply and demand; establish an employment arrangement system; and consolidate the talent-based career system.

By 2035, the agro-forestry-fishery sector will employ less than 25% of the labor force. Human Development Index (HDI) will touch high rate of 0.700-0.799. Innovation capacity will be developed. Viet Nam will have a contingent of scientists and leading experts in line with regional standards.   

By 2045, the agro-forestry-fishery sector will make up less than 15% of total labor force. Human development index (HDI) will reach higher at over 0.800. Labor productivity and human competitiveness will reach average rate of ASEAN-4. 

Regarding specific resources, by 2025, the legal system, mechanisms, policies will be perfected to promote management and saving consumption of natural resources. 

By 2035, market regulating instruments of land use rights will be developed. About 99% of natural land area will be used. Water contamination  will be put into control. About 25% of depressed natural ecosystem will be repaired. Databases of natural resources, the environment, and national resource supervisory system will be built. 

By 2045, the resolution targets to prevent and curb natural resource degradation; environmental pollution; respond to climate change and sea level rise. 

Balancing budget spending and collection

Regarding resource, by 2025, the resolution aims to safeguard national finance security; ensure budget balance in a positive manner; cut state budget overspending rates to less than 4% of GDP by 2020;3% by 2030. By 2030, public debts will account for less than 60% of GDP. Governmental debt will make up less than 50% of GDP. National foreign debts will account less than 45% of GDP. 

State land ownership will be fundamentally completed by 2020; and completed by 2025. 

By 2025, national reserve will account for 0.8%-1% of GDP. Bond market balance will make up 55% of GDP. 

By 2035, national reserve will make up 1.5% of GDP.  Bond market balance will account for 70% of GDP. 

By 2045, national reserve will be 2% of GDP. Bond market balance will make up 80% of GDP./.

By Kim Loan