Wednesday, March 3 2021

VietNamNews

PM asks experts to find new driving forces for development

Update: January, 21/2021 - 08:46

 

Prime Minister Nguyễn Xuân Phúc (third left) speaks with members of the National Advisory Council on Financial and Monetary Policies on Tuesday. — VNA/VNS Photo Thống Nhất

HÀ NỘI — Prime Minister Nguyễn Xuân Phúc asked experts to seek a new driving force for development during a working session with the National Advisory Council on Financial and Monetary Policies and the economic advisory group on Tuesday.

"We have basically prepared an important foundation for 2021 and the next five years in terms of production capacity and macro-economic system," he said, noting that given the complex developments in the region and the world, Việt Nam should accept changes, including changes in habits and even legal institutions related to economic development.

He asked the experts to closely follow the economic situation both in and outside the country and timely note newly arising problems to provide timely recommendations to the PM on suitable mechanisms, policies and solutions to address them.

The Government leader called attention to lessons to prevent inflation and bad debts as well as mechanisms to turn science-technology and innovation into a driving force to improve labour productivity and competitiveness. Links between foreign-invested and domestic firms remain loose while the rate of domestically-made products in automobiles and electronics is still low.

In the near future, he said the Government has a lot to do, especially working to create breakthroughs in economic reform and restructuring, renewing the growth model, developing businesses, improving the business environment, stepping up national digital transformation and attracting resources for sustainable development. He said national digital transformation is indispensable.

The PM also urged the experts to suggest measures to achieve the dual goal of fighting the pandemic and restoring socio-economic development, tap opportunities from free trade agreements, and perfect business administration mechanisms for State-owned enterprises.

Experts said 2020 was a successful year despite the challenges, and the Government took drastic actions to control the pandemic and promote economic growth last year. They proposed the Government continue focusing on fighting the pandemic, stimulating export and domestic consumption, and stepping up public investment.

Others suggested maintaining macro-economic stability, promoting consumption and private investment and consolidating policies. They also urged the Government to pay more attention to green development and the circular economy, adding that institutional reform should focus on renovation, productivity improvement and digital economy. Besides, aid packages should be continued and vaccine production hastened. — VNS

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