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Solutions needed for development

Update: April, 28/2012 - 09:18

HA NOI — Breakthrough solutions were needed for comprehensive economic restructuring to achieve the Socio-economic Development Strategy for the 2011-20 period, delegations agreed at an online conference hosted by the National Assembly (NA) yesterday.

Priorities would be given to restructuring investment with a focus on public spending; restructuring the financial market, especially the banking system and financial organisations; and restructuring of all enterprises, with a focus on state-run companies.

Most deputies agreed on a group of key solutions that were proposed by the NA Economic Committee with a focus on making comprehensive programmes, strategies or plans with long and medium term measures for the perfection of the market mechanism institution and macroeconomic stability; restructuring of investment and financial markets, enterprises and agricultural production methods; the strengthening of human resources quality and science and technology development, and social and environmental protection measures.

Comprehensive economic restructuring would help improve all aspects of the country's socio-economic development. However, breakthroughs were needed in every field," said Minister of Planning and Investment Bui Quang Vinh.

Representatives of the Cao Bang NA delegation said that it was important to evaluate the current situation of the country's socio-economy before restructuring. State enterprises should play a key role in economic development while the private sector should also ensure suitable development conditions.

Deputy Tran Ngoc Vinh from the Hai Phong City delegation said that the project had failed to mention the maritime economy.

The project should take full advantage of one of Viet Nam's strongest points – 3,200 kilometres of coastline," said Vinh. — VNS

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