March, 10 2014 08:41:00

HCM City hosts conference to review 30 years of renewal

HCM CITY (VNS)— A conference to review 30 years of the doi moi (renewal) process and the development of a socialist-oriented market economy was held by the doi moi steering board in HCM City on Saturday.

The conference, which was chaired by Deputy Prime Minister Nguyen Xuan Phuc, saw more than 30 reports from across the country tabled.

Participants contributed ideas and suggestions for resolving issues facing the nation and the world.

Phuc said that after 30 years of doi moi the major aspects of a socialism-oriented market economy have been put in place and gradually perfected.

Economic and political reforms have helped create a democratic polity and the impetus to not only help pull the nation out of the economic crisis but also enable it to improve its socio-economic situation and turn it into a middle-income nation, he said.

Thirty years of reforms have helped Viet Nam significantly eradicate hunger and reduce poverty to the appreciation of the global community, he said.

The reforms have helped enhance the nation's prestige, he said.

The market economy has a history of 100 years globally, but in Viet Nam, it is quite new and was developed less than 30 years ago.

Because of this, Viet Nam has faced several obstacles and also made mistakes, he said, and had yet to complete the transition to a market economy.

These have forced it to focus on clarifying the theories and realities related to the development of a socialist-oriented market economy, making it appropriate for the country's current conditions, Phuc said.

The basic goal is to develop a market economy based on scientific principles and keep up with the current period's objective development trends to settle immediate difficulties as well as outline long-term economic development strategies for the country, he said.

The deputy prime minister called on delegates to focus on the main topics like Viet Nam's general model of development of the socialist-oriented market economy and the essential factors in preparing for the country's integration into the global market economy by 2018.

"The world now has many models of market-led economies with many differences," Phuc said.

"Delegates should find what Viet Nam can learn from these economies for the development of the country in future.

To strengthen the institutions of a market economy, he said, it was necessary to clarify certain things: Is the market an effective mechanism in which competition would be used as a motive power to mobilise and allocate resources, thus helping liberate the production force, renovate the growth model, and restructure the economy? What is the government's role in the socialist-oriented market economy? Should the Government act as a leader in developing the market to create a favourable environment for investment, business, and encouragement of competition.

The private sector has proved to be one of the main forces for the country's development, he said, but wondered if there is enough evidence to show that the private sector would be an important force and a decisive factor in the country's economic development in future.— VNS

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