VN emerges in ‘sustainable growth’ race

Illustration photo

Mr. Loc made the point while delivering a report on raising competitiveness of the private economy and strengthening PPP relations towards a more sustainable decade on September 12 in Ha Noi on the national conference on sustainable development

Emerging Viet Nam

Viet Nam was listed as one of the countries which did their best to attain a large number of achievements in sustainable growth. In 2018, according to the World Bank, Viet Nam ranked 69th out of 190 countries and territories in business environment. In the World Economic Forum’s list, Viet Nam was placed at 77th out of 140 countries and territories in competitiveness. Viet Nam was positioned at the 54th out of 162 countries and territories in sustainable growth only after Thailand in ASEAN. Hence, Viet Nam surpassed other countries with similar development standards in the race for sustainable growth. 

During the process, the Party and State took the leading role and the business circle served as the central impetus. Meanwhile, the community and all people joined the race.  

Mr. Loc hoped that right after the conference, the PM would issue a directive or decision on continual implementation of the national action program on sustainable growth in the next decade. 

Resolving bottlenecks on productivity and human resource attraction 

Firstly, Chairman Loc stressed the necessity to shift from the traditional development growth to circular economy which would respond to two problems of natural resource scarcity and environmental pollution. 

He proposed the Party add circular economy development to its resolutions. Mr. Loc suggested the National Assembly issue a law on circular economy development. The National Assembly and Government were recommended to conduct policies which encourage circular economy modals in the community and business circle. In the process, businesses would play the central role. 

Secondly, the Chairman stressed the necessity to raise manpower quality and productivity. The VCCI praised the cooperation between the WB and the Vietnamese Ministry of Labor, Invalids and Social Affairs to craft a report on future employment in Viet Nam. 

However, Chairman Loc noticed that all types of businesses, all economic components, all economic sectors should participate into the global value chains in which transparency is the most important standard for cooperation. 

Thirdly, the Chairman proposed PPP modal development in training sector, dual vocational training system, which combines factories and colleges; shortened time of university training programs (only two years) to catch up with technological changes and meet demands for high-quality labors, and STEAM  educational approach (on science, technology, engineering, arts, and mathematics.

Fourthly, Chairman Loc mentioned the PPP modal which is a new symbiotic mechanism between the private sector and the State one. The private sector cooperates with the State in developing infrastructure for the economy and fulfilling socio-economic development goals. He suggested the private sector participate into public service provision and key industrial development. Sharing economic modal should be taken into consideration in the relations between the State and the private sector. 

The Chairman also proposed the National Assembly early issue the Law on PPP./.

By Khanh Phuong